Choosing the right bank account for your business is a decision that will likely impact you on a daily basis for years to come. Whether you’re a start-up opening an account for the first time, or an established SME switching for a more competitive deal, we will help you compare some of the best options available.
Our editors have selected what we feel are the best of the bunch when it comes to business bank accounts and we’ve explained the reasons why.
The business bank accounts included below have been chosen by reviewing each provider’s products and services with our proprietary rating system. The rating system is based on several factors that many business owners confirm to be what matters to them most when considering a business bank account.
Find the Best Bank Account for Your Business Today
The Best Business Bank Accounts at a Glance
In a rush? If you don’t want to read the whole article, here’s a quick glance of the different business account providers that we have reviewed. The table includes our bespoke rating, monthly fees, transaction fees, a couple of other important features, and the providers’ websites where you can access each account:
| Account Provider | Our Rating | Monthly Fee | Bank Transfers | Card Purchases (UK) | Overdraft | ATM Fees (UK) | Website |
|---|---|---|---|---|---|---|---|
| Tide | ★ 4.6/5 | £0 | 20p | Free | ✗ | £1 per withdrawal | Visit site |
| Revolut Business | ★ 4.5/5 | £0 | Free (£0.20 outside free allowance) | Free | ✗ | 2% fee on all withdrawals | Visit site |
| ANNA Money | ★ 4.1/5 | £0 | Free (£0.20 outside free allowance) | Free | ✗ | £1 per withdrawal | Visit site |
| Cashplus Bank | ★ 3.8/5 | £0 | 3 free, then 30p each. | Free | ✓ | £2 per withdrawal | Visit site |
| Monzo | ★ 4.2/5 | £0 | Free | Free | ✓ | Free | Visit site |
| Wise | ★ 4/5 | £0 (One-time £45 fee to set the account up (UK) + one-time fee of £5 to get your debit card) | Free | Free | ✗ | 2 withdrawals up to £200 per month are free. Above that, it’s £0.50 per withdrawal + 1.75% of the amount being withdrawn. | Visit site |
| Metro Bank | ★3.6/5 | £0 (If balance remains above £6,000. £6pm fee if not) | 30 Free per month (then £0.30 each) | 30 Free per month (then £0.30 each) | ✓ | Free (Metro Bank ATM) | Visit site |
| Starling Bank | ★ 4.6/5 | £0 | Free | Free | ✓ | Free | Visit site |
| Mettle by NatWest | ★ 4.5/5 | £0 | Free | Free | ✗ | Free | Visit site |
| Cynergy Bank | ★ 3.6/5 | £0 (for first 12m and £25pm after that) | Free | Free | ✓ | Free | Visit site |
A Deeper Dive: Our Picks of the Top Business Accounts
Tide: Free Business Account
- One of the best Apps in the sector
- No Monthly or Annual Fees
- Easy Invoice Creation Functionality
- Post Office Deposits Cost £1
- 20p charge for transfers between accounts
- 3% charge for cash deposits at Paypoints
Eligibility Criteria
You must be 18 years or over, a UK resident, and have a valid UK phone number.
To qualify for Tide’s Black Friday Deal and get £100 cashback, all you need to do is spend £500 or more via your new account with them within the first 90 days of opening. This deal is valid from 20/11/2023 – 30/11/2023.
Why We Picked the Free Business Account from Tide
Tide is our top choice for any UK-based SME, startup, freelancer or entrepreneur looking for straightforward business banking. It offers a no-cost current account that comes with essential tools for invoicing and expense management, a range of premium accounts with additional features and the opportunity to earn interest with the Tide Instant Saver Account.
With a highly-rated app and 24/7 customer support, it’s easy to see why Tide’s captured more than 10% of the UK’s banking SME market. Tide bank accounts are FSCS protected and provided by ClearBank Ltd.
Key features
- Flexible Banking: Open a free business current account quickly online with options to suit every stage of your business.
- High-Yield Savings: Earn competitive interest with the Tide Instant Saver Account.
- Integrated Accounting: Easily connect your account with accounting software for streamlined financial management.
- Comprehensive Support: Access 24/7 support within the app, so help is always at hand.
- Innovative Payment Solutions: Utilise payment links, auto-categorisation and Direct Debit features to manage transactions efficiently.
| Feature | Details for Tide’s Free Business Account |
|---|---|
| Monthly Fee | £0 |
| Transaction Fees | 20p per bank transfer |
| Account Access | Mobile app & online |
| FSCS & Fraud Protection | Tide is FSCS-protected. It also has two-factor authentication, encryption, and 24/7 account monitoring |
| Set-up Time | Same-day setup is possible |
| Customer Service | Tide’s website states 24/7 support in the mobile app, 365 days a year. Phone support is available on paid plans, but not the Free account |
| Accounting Integration | Xero, QuickBooks, Sage, FreeAgent, Kashflow, Crunch and ClearBooks |
| Credit Lines | Overdrafts and credit cards are not currently available with Tide. However, business loans are available |
| Cash Deposits | 3% charge at PayPoint; £2.50 or 0.5% at Post Office for deposits over £500 |
| Cheque Deposits | Not currently available |
| Trustpilot Rating | 4.1/5 across 19,273 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Tide business account review
Business Expert Rating
- Overall Rating: ★ 4.6/5
- Breakdown: Scores highly on most metrics, particularly Monthly Fees, Features, Customer Service, and Ease of Setup. It scores lower on Transaction Fees due to charges on bank transfers.
Independent Survey
The table below shows information from a survey that asked customers if they would recommend Tide’s services and products to other SMEs across specific categories.[1]
| Categories for Tide | % of Customers Who’d Recommend |
|---|---|
| Overall Service Quality | 74% |
| Online and Mobile Banking | 77% |
| Relationship/Account Management | 66% |
Pros and Cons
Reasons to choose
✅ Safe and secure to use, and covered by the FCA and PRA
✅ No monthly or annual fees for account maintenance.
✅ Compatible with a wide range of accounting software.
✅ Provides a free replacement for lost cards.
✅ Offers access to business loans up to £150,000 with quick approval times.
Reasons to avoid
❌ Charges £1 for ATM withdrawals.
❌ A 20p fee is charged for transfers between accounts.
❌ Deposits at the Post Office come with a £1 charge.
❌ Depositing cash at PayPoints attracts a 3% fee.
Revolut Business: Basic Account
- Ecommerce – Easy integration with Ecommerce via Apps and Plugins
- International payments – Send and receive money from 200 countries
- Block cards or set accounting limits with a tap
- Available for Limited Companies Only
- Accounts do not support cash or cheque deposit
Why We Picked the Basic Account from Revolut Business
Revolut offers a superb free current account that facilitates multi-currency transactions with highly competitive exchange rates, allowing for low-cost international transfers and the ability to hold and exchange over 30 currencies. Alongside its crypto-friendly stance, Revolut integrates with leading accounting software, streamlines invoicing and expense tracking, and offers robust 24/7 customer support.
Even though Revolut isn’t covered by the FSCS, your money is still protected through a process called ‘safeguarding’, which means it’s kept in a separate account or in low-risk assets as per financial regulations. That ensures that if Revolut were to fail, your funds are safe and can be returned to you. Revolut also has a Trustpilot rating of 4.2/5 from over 150,000 reviews.
Key features
- Multi-Currency Support: Hold, manage and exchange in 30+ currencies at interbank rates for global business operations.
- Crypto-Friendly: Complete direct crypto transactions in the app, including buying and selling.
- Accounting Integration: Easy link-up with top accounting software for streamlined bookkeeping.
- Invoicing and Expense Tracking: Built-in tools for creating invoices and tracking expenses to enhance financial oversight.
- Robust Security: Two-factor authentication, encryption and fraud monitoring to protect transactions.
- 24/7 Customer Support: Round-the-clock support for all business banking queries
| Feature | Details for Revolut Business’ Basic Account |
|---|---|
| Monthly Fee | £0 (Basic Account) |
| Transaction Fees | Free local payments within allowance; £0.20 per local payment outside the free allowance; £3 fee for international payments outside the free allowance |
| Account Access | Mobile app and online |
| FSCS & Fraud Prevention | Revolut does not currently offer FSCS protection. However, they use ‘Safeguarding’. This is a regulatory term for your money being held in segregated accounts in the event of insolvency. They also use 2-factor authentication and suspected fraud warnings in the mobile app to help keep your money safe. |
| Set-up Time | Same-day account opening possible |
| Customer Service | 24/7 support available via the mobile app |
| Accounting Integration | AccountsIQ, Crunch, Kashflow, Coconut, Pandle, Odoo, NetSuite, FreshBooks, QuickBooks, Ember, Clear Books, Xero, Sage, FreeAgent, QuickFile |
| Credit lines | Overdrafts, credit cards and loans are currently not available for Revolut’s business customers. |
| Cash Deposits | Not allowed |
| Cheque Deposits | Not supported |
| Trustpilot Rating | 4.2/5 across 151,483 ratings (Accurate as of 23/04/24) |
⏩Read our in-depth Revolut business account review
Business Expert Rating
- Overall Rating: ★ 4.5/5
- Breakdown: Revolut scores well across Features, Customer Service, and Accounting Integrations. It loses some points on Monthly Fees due to higher costs for premium accounts and Accessibility due to the lack of physical branches.
Pros and Cons
Reasons to choose
✅ Exchange in 30+ currencies with competitive rates, ideal for international dealings.
✅ Crypto transactions supported directly via the app.
✅ Seamless integration with major accounting software.
✅ Efficient invoicing and expense tracking features.
✅ Strong security measures including two-factor authentication, encryption, and fraud monitoring.
✅ 24/7 customer support ensures assistance is always available.
✅ High Trustpilot scores reflect positive user feedback.
Reasons to avoid
❌ Lack of physical branches may deter some businesses.
❌ High fees for international ATM withdrawals.
❌ Occasional technical issues reported by users.
❌ Some core features restricted to paid accounts.
ANNA Money: Pay As You Go Business Account
- Instant Invoice Generation
- Good customer service via Live Chat
- Xero Integration
- Easy VAT submission to HMRC via App
- To open a business account, you’ll need a photo of your full driving licence or a photo of your valid passport.
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts but not a credit check
Eligibility Criteria
You need a UK residential address to open an account. This account isn’t open to charities.
Why We Picked the Pay As You Go Business Account from ANNA Money
ANNA Money is designed as a ‘no-nonsense’ bank account for small businesses, startups, freelancers and sole traders. Focused on reducing the administrative burden through a blend of banking, invoicing and expense management, Anna’s app stands out for its simplicity and efficiency.
With various account options to suit different business needs, including a free tier, ANNA Money stands out for its stellar customer support and has some of the best reviews in the industry.
Anna Money is not regulated by the Financial Services Compensation Scheme (FSCS) but follows safeguarding regulations to protect customer funds.
Key features
- In-App Invoicing & Payments: Streamlines billing processes with instant notifications.
- Expense Categorisation: Automates expense tracking for better financial oversight.
- Multi-Tier Account Options: From free accounts to tailored premium services.
- 24/7 Customer Support: Ensures timely assistance through chat.
- Enhanced Security: Two-factor authentication, encryption, and fraud monitoring.
| Feature | Details for ANNA Money’s Pay As You Go Account |
|---|---|
| Monthly Fee | £0 (Pay As You Go account) |
| Transaction Fees | 20p per bank transfer after free allowances; £1 per ATM withdrawal |
| Account Access | App only |
| FSCS & Fraud Prevention | ANNA Money does not currently provide FSCS protection. They do provide ‘safeguarding’ to segregate your money into dedicated accounts to protect it in the event they went bust. They do also share information with fraud prevention organisations to help keep on top of this area for their customers. |
| Set-up Time | Claims of account opening in as little as 3 minutes |
| Customer Service | 24/7 customer service via Live Chat |
| Accounting Integration | Xero, Quickbooks, Sage |
| Credit lines | Overdrafts and credit cards are currently not available to ANNA Money’s customers. You can apply for SME loans, however, in their app. |
| Cash Deposits | 1% per transaction at PayPoint locations; limits apply |
| Cheque Deposits | Not currently available |
| Trustpilot Rating | 4.6/5 across 2,880 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Anna business account review
Business Expert Rating
- Overall Rating: ★ 4.1/5
- Breakdown: Scores top marks for Customer Service and Ease of Setup. However, it has limitations in Accessibility and Transaction Fees due to charges after free allowances.
Pros and Cons
Reasons to choose
✅ Ability to create invoices directly within the app.
✅ Integrate with Xero for accounting.
✅ Submit VAT returns directly to HMRC through the app.
✅ Comes with a receipt scanner feature.
✅ Provides a free payroll service for directors.
✅ Provides 1% cashback on select purchases.
Reasons to avoid
❌ Lacks overdraft facilities.
❌ Charges are applied on foreign currency transactions.
❌ Does not support joint accounts.
❌ Limitations on receiving money in foreign currencies: requires a Payoneer account.
Cashplus Bank: Business Go Account
- Business Credit Builder Add-On
- Overdrafts of up to 2k
- Pay in via any Post Office
- £9 monthly fee for Business Extra Account
- £2 ATM Use
Eligibility Criteria
Your business must based in the UK. You’ll need verified ID such as passport or driving licence, the registration number of your company at Companies House and proof of business address.
Why We Picked the Business Go Account from Cashplus Bank
Cashplus Bank offers a fully regulated UK bank account with faster payments, direct debits and a contactless Mastercard, coupled with dedicated UK-based customer support. Security features include two-factor authentication, encryption and fraud monitoring.
Additionally, your money is protected by the FSCS for up to £85,000.
Despite its lack of physical branches and a chargeable fee for ATM use, Cashplus’s straightforward application process and 24/7 support have garnered a solid reputation online.
Cashplus Bank has 10,251 reviews from customers on Trustpilot with an average rating of 3.6/5.
Over on Google Play, 23,100 customers have rated them 4.4/5 on mobile, and 858 customers have rated them 4.7/5 on tablets. They have an overall Google Play rating of 4.4/5 for all reviews submitted at point of writing this.
On the App Store Cashplus Bank is rated #140 in Finance and has an average rating of 4.7/5 across 49,600 customer ratings.
The information on customer ratings is accurate as of 18/04/24.
There are also no credit checks to open an account and you can actively improve your business creditor score with the Business Creditbuilder for eligible businesses that take out the Extra (paid) account.
Key features
- Creditbuilder: (For their paid account only) A unique tool designed to help improve your credit score through regular, responsible financial activity.
- UK Based Customer Support: Access to UK-based customer service for any banking inquiries or issues.
- Robust Security: Enhanced with two-factor authentication, encryption, and fraud monitoring for added protection.
- FSCS Protection: Deposits are safeguarded up to £85,000, providing peace of mind for business owners.
| Feature | Details for Cashplus Bank’s Business Go Account |
|---|---|
| Monthly Fee | £0 (Business Go) |
| Transaction Fees | 30p per bank transfer; Additional fees apply for exceeding free transaction limits |
| Account Access | Access via app & online |
| FSCS & Fraud Prevention | Cashplus Bank does provide FSCS protection. They also use a Mastercard identity check called ‘3D Secure’ which involves 2-factor authentication to help prevent fraudulent transactions. |
| Set-up Time | Same-day setup for 99.94% of customers |
| Customer Service | UK-based, operational hours from 8am to 8pm Monday to Friday, and 8am to 4pm on Saturdays |
| Credit Lines | Overdrafts are available for qualifying businesses. Cashplus Bank don’t currently offer business loans, but they do offer an alternative that they refer to as their ‘Business Cash Advance’. Their website does state that they offer a business credit card, however, you can’t apply for it on their website and need to go through one of their partners to enquire about eligibility. |
| Accounting Integration | QuickBooks, Xero and FreeAgent |
| Cash Deposits | Allowed at any UK post office branch |
| Cheque Deposits | Not specified in the provided details |
| Trustpilot Rating | 3.6/5 with 10,261 ratings (accurate as of 23/04/24) |
⏩ Read our in-depth Cashplus business account review
Business Expert Rating
- Overall Rating: ★ 3.8/5
- Breakdown: Strong in Features and Ease of Setup, but scores lower in Transaction Fees and Customer Service, impacted by limited support hours and higher fees.
Pros and Cons
Reasons to choose
- No credit check required
- UK-based customer services
- Overdraft possible for qualifying accounts
- Credit-builder functionality
- Excellent Trustpilot, Google Play and App Store reviews
Reasons to avoid
- £2 per ATM use
- No physical branches
- £9.95 application fee for a business MasterCard (this is waived if you apply via Business Expert)
- Some customers have commented on their customer support team being challenging to get in touch with at times
Monzo: Business Lite Account
- Top-rated 24/7 support
- Budget and transaction categories to help manage spending habits
- Digital receipts for creating and storing important business information
- Basic version, fewer features than Pro
- No automatic allocation of funds to a “tax pot”
- No integration with accounting software like Quickbooks, Xero, or FreeAgent on Lite account
Eligibility Criteria
You must be a sole trader or the director of a registered limited company by shares (Ltd), based in the UK.
If you’re a limited company, your company must have an active status on Companies House, an active company director, at least one person of significant control listed on Companies House, less than 25% of persons of significant control or directors being corporate entities, make money mostly from selling goods and/or providing services (not mostly from interest or investment income), and be a tax resident in the UK only.
Why We Picked the Business Lite Account from Monzo
Monzo offers two easy-to-use bank accounts for UK-based sole traders and limited company directors, although you won’t have access to its full range of features unless you pay a monthly fee for its Pro account. Get free, instant UK bank transfers, payment notifications to your phone and earn up to 1.60% AER interest (variable) on savings with an Instant Access Savings Pot. At the time of writing this Monzo has great customer reviews too, with over 30,000 Trustpilot ratings, 77% of which are 5 stars.
Eligible deposits in Monzo are protected up to £85,000 per person by the Financial Services Compensation Scheme (FSCS).
Key features
- Award-Winning App: Provides ease of use and instant notifications
- FSCS Protection: Ensures your deposits are safe up to £85,000.
- No Monthly Fees: Starts with a free option, keeping costs low for businesses.
- Integrated Accounting: Links with Xero, QuickBooks, and more for streamlined financial operations.
- Pots for Budgeting: Helps segregate funds for better financial organisation.
- Invoicing & Payments: Simplifies billing and payments with in-app invoicing and payment links.
- 24/7 Customer Support: Round-the-clock assistance for any banking queries or issues.
| Feature | Details for Monzo’s Business Lite Account |
|---|---|
| Monthly Fee | £0 (Lite account) |
| Transaction Fees | Free UK bank transfers; £1 cash deposit via Paypoint |
| Account Access | Mobile app, online, phone and email |
| FSCS & Fraud Prevention | Monzo do offer FSCS protection. They’re also a fully regulated bank with the same rules as high street banks. They also use 2-factor authentication for additional security against fraudulent access to your account. |
| Set-up Time | Speedy signup process |
| Customer Service | 24/7 support with high customer satisfaction |
| Accounting Integration | Xero, FreeAgent or QuickBooks |
| Credit Lines | Available to sole traders and companies if your business is eligible. |
| Cash Deposits | £1 per deposit via PayPoint; £300 limit per deposit, £1000 every six months |
| Cheque Deposits | Not specified |
| Trustpilot Rating | 3.9/5 across 31,707 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Monzo business bank account review
Business Expert Rating
- Overall Rating: ★ 4.2/5
- Breakdown: High scores in Monthly Fees and Customer Service. Points are deducted for Transaction Fees related to cash deposits and Accessibility, as there are no physical branches.
Independent Survey
The table below displays results from a survey inquiring whether customers would recommend Monzo’s services and products to other SMEs in various specific categories.[1]
| Categories for Monzo | % of Customers Who’d Recommend |
|---|---|
| Overall Service Quality | 84% |
| Online and Mobile Banking | 88% |
| Relationship/Account Management | 78% |
Pros and Cons
Reasons to choose
✅ Quick and easy signup process.
✅ Eligible deposits up to £85,000 are FSCS protected.
✅ Offers free account migration through the ‘Switching’ service.
✅ Allows fee-free spending abroad.
✅ Provides 24/7 customer support.
✅ Features like Tax Pots enhance budgeting and financial organization.
✅ Possibility of accessing online banking on the same day you apply.
Reasons to avoid
❌ Cannot currently receive international payments.
❌ No accounting integrations with the free account.
❌ Charges £1 to deposit cash via Paypoint.
❌ £300 cash deposit limit in one go, or £1000 every six months.
❌ No option to manage the account over the phone or at a branch.
❌ Not available to charities or partnerships.
Open a Monzo business bank account
Wise: Business Account
- Typically one of the most cost-effective providers, although the sector is now very competitive
- 80% of payments are settled within 24 hours, and 35% of the total are instant
- complete transparency on all fees;
- No bank branches
- No cash deposits or transactions
- No credit or business loan facilities are available
Eligibility Criteria
Almost all businesses are eligible; there is no credit check required.
Why We Picked the Business Account from Wise
The Wise Business Account is designed for businesses engaging in international transactions. It allows for easy and cost-effective management of multiple currencies, providing access to over 70 countries without hidden fees. Features include a quick sign-up process, access to local account details in 10 currencies, and a business debit card for overseas use without foreign transaction fees.
Wise accounts are electronic money accounts, not traditional bank accounts. This means that while your money is safeguarded, it’s not protected by the Financial Services Compensation Scheme (FSCS).
Key features
- Efficient Sign-Up: Quick registration process with savings up to 6x on international payments versus traditional banks.
- Global Access: Accounts in over 70 countries, used by 300,000+ businesses quarterly, without hidden fees.
- Financial Security: FCA-regulated, offering local account details in 10 currencies for added trust.
- Debit Cards for Business: No foreign transaction fees and 0.5% cashback on overseas card usage.
- Accounting Integration: Simplifies financial administration by linking with major accounting software.
| Feature | Details for Wise Business Account |
|---|---|
| Monthly Fee | £0 |
| Transaction Fees | Variable; dependent on the transaction type and currency |
| Account Access | Mobile app and online access |
| FSCS & Fraud Prevention | FSCS protection is not available with Wise. Your funds are safeguarded in accordance with FCA regulations to segregate from their own money for additional security. They also use 2-factor authentication. |
| Set-up Time | Quick sign-up process |
| Customer Service | 24/7 customer support via app, email, and phone |
| Accounting Integration | Xero, Quickbooks, FreeAgent, FreshBooks, QuickFile, Oracle NetSuite, RECASH and Ember |
| Credit Lines | Not available |
| Cash Deposits | Not available |
| Cheque Deposits | Not available |
| Trustpilot Rating | 4.3/5 across 216,371 ratings (Accurate as of 23/04/24) |
⏩ Read our comprehensive Wise Business Account Review
Business Expert’s Rating
- Overall Rating: ★ 4/5
- Breakdown: Wise achieves high scores across several metrics including Monthly Fees, Features, and Customer Service, making it a strong choice for international business needs. It scores slightly lower in Accessibility due to no branch access.
Far Cheaper than High Street Banks for International Use?
In the UK, research conducted by Wise indicates that using a Wise card for international expenditures can be up to 87% more cost-effective than using traditional high street banks when spending £1,000. Below is a visual reference to the research done by Wise:
Pros and Cons
Reasons to choose
✅ No monthly fee for basic account services.
✅ Competitive and transparent transaction fees for international transfers.
✅ Comprehensive account management via mobile app.
✅ Strong security features including FSCS protection, two-factor authentication, encryption, and fraud monitoring.
✅ Quick set-up process, with same-day setup possible.
✅ Customer service quality varies by account tier, with higher tiers receiving priority support.
✅ Rewards or benefits like cashback offers available.
Reasons to avoid
❌ Overdraft facilities are not available.
❌ Charges apply for cash deposits at PayPoints and the Post Office.
❌ Cheque deposits are not currently supported.
❌ International services include fee-free spending abroad, but transfer fees for SEPA and SWIFT transfers apply.
Metro Bank: Business Bank Account
- Security and fraud prevention: FSCS-protected with additional security measures in place
- Integrating with existing or new accounting software
- Getting access to in-branch setup and support
- If the account balance drops below £6,000 there are additional monthly and transaction charges that apply
- No 24/7 customer support is available with Metro Bank (opening times for customer support are 8am-8pm)
- You can’t apply for this account if your business has more than £2mil turnover
Eligibility Criteria:
- You must be over 18 years’ old.
- Your business must not exceed £2mil for this account.
- You must be one of the following: sole trader, limited company, limited guarantee, or limited liability partnership.
- Charities or trusts are not eligible.
- Businesses not based in the UK are excluded.
FSCS Protection: Yes, Metro Bank is FSCS protected.
Trustpilot Score: 2,540 ratings with an average rating of 3.5/5
Why We Picked the Business Bank Account from Metro Bank
The Metro Bank business account offers features suitable for small to large businesses, including FSCS protection, international payments and account switching. It integrates with accounting software and has a £6 monthly fee if the balance falls below £6,000.
While the account is not excessively costly, fees depend on usage and management practices, which might not be straightforward for all. However, it does offer a more conventional high-street approach with branch management, overdrafts and same-day account opening in-store.
Your with Metro Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Key features
- Personalised Support: Access to a Local Business Manager for tailored guidance
- Extended Accessibility: Branches open seven days a week, early until late.
- Round-the-Clock Customer Service: A 24/7 UK-based Business Customer Service Team.
| Feature | Details for Metro Bank’s Business Bank Account |
|---|---|
| Monthly Fee | £0 (Only if the account balance remains above £6,000. Otherwise, a fee of £6pm applies) |
| Transaction Fees | 30 free transactions per month; then £0.30 each. |
| Account Access | In-branch, mobile app, phone & online. |
| FSCS & Fraud Prevention | Metro Bank is protected by FSCS. They also use multi-factor authentication for additional security. |
| Set-up Time | Average setup time is two days, with same-day setup possible in some cases. |
| Customer Service | 24/7 is not available with Metro Bank. Opening times for customer support is 8am – 8pm. |
| Accounting Integration | Xero, Clearbooks |
| Credit Lines | Overdrafts, credit cards, loans & asset finance are available to businesses, subject to approval. |
| Cash Deposits | Supported at branches and Post Office. |
| Cheque Deposits | Accepted at branches and Post Office. |
| Trustpilot Rating | 2.0/5 across 4,846 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Metro Bank business bank account review
Business Expert Rating
- Overall Rating: ★ 3.6/5
- Breakdown: Scores well in Accessibility due to both branch and digital access, and Customer Service. However, it has lower scores in Monthly Fees (due to charges when balance falls below a threshold) and Customer Reviews.
Independent Survey
The table below presents information from a survey that asked customers on whether they’d recommend Metro Bank’s services and products to other SMEs for specific categories.[1]
| Categories for Metro Bank | % of Customers Who’d Recommend |
|---|---|
| Overall Service Quality | 65% |
| Online and Mobile Banking | 67% |
| SME Overdraft and Loan Services | 52% |
| Relationship/Account Management | 65% |
Pros and Cons
Reasons to choose
✅ No monthly fees for balances over £6,000.
✅ Access to local business managers for personalized support.
✅ Branches available seven days a week, including early and late hours.
✅ Comprehensive digital banking via a highly-rated app and online platform.
✅ UK-based customer service available 24/7.
Reasons to avoid
❌ Monthly fee applies if the balance falls below £6,000.
❌ Limited to 30 fee-free transactions per month for balances above £6,000.
❌ Lack of branches in Scotland and Northern Ireland.
❌ Some services and products may incur higher fees.
❌ International ATM access is limited.
Starling Bank: Business Current Account
- Fast account set-up
- No monthly fees or fees overseas
- Integrations with Quickbooks, Xero & FreeAgent
- Fully regulated and FSCS protected
- Phone and App based customer service 24/7
- Pay Cash in via Post Office
- Euro and Dollar accounts are available
- There isn’t any overdraft facility
- There are no branches
- Starling charges for paying in money
- You can’t earn interest
- Depositing cash comes with a fee
Eligibility Criteria
All directors with access to the account must be UK residents. The business must not be a holding company, dissolved, in liquidation or engage in any activities set out in our terms and conditions. Evidence of your trading activities so we understand that your business does what you say it does. We can’t accept Companies House documents for this. Credit Checks May Apply
Why We Picked the Business Current Account from Starling Bank
The Starling Bank business account provides a free, digital-first banking experience that integrates seamlessly with accounting software. It offers an overdraft facility with competitive rates and ensures responsible lending with thorough credit assessments.
24/7 support, real-time alerts and FSCS protection up to £85,000 are key features, and they are complemented by a high customer satisfaction rating. However, the account is not among the best for interest on balances and there are no physical branches, with some limitations in ATM access and occasional app issues.
Key features
- 0 Monthly Fee: No fees for monthly account maintenance or UK payments.
- 24/7 UK Support: Round-the-clock assistance through app, phone, or email.
- FSCS Protection: Funds are safeguarded up to £85,000.
- Current Account Switch Service: Hassle-free switch to Starling with a few taps in-app.
- Integration: Seamless connection with leading accounting software.
- Instant Notifications: Stay updated with real-time alerts on transactions.
| Feature | Details for Starling Bank’s Business Current Account |
|---|---|
| Monthly Fee | £0 |
| Transaction Fees | Free bank transfers; charges for certain transactions may apply for cash deposits |
| Account Access | App, Online & Phone |
| FSCS & Fraud Prevention | Starling Bank is protected by FSCS. They also use 2-factor authentication and account monitoring for additional security. |
| Set-up Time | Within 1 day |
| Customer Service | 24/7 support is available. Phone and App-based customer service. |
| Accounting Integration | Xero, FreeAgent and QuickBooks |
| Credit Lines | Overdrafts and loans (from £25,001 to £250,000) are available to businesses, subject to approval. |
| Cash Deposits | Pay Cash in via Post Office; charges may apply |
| Cheque Deposits | Cheques to the value of £1,000 or less can now be deposited via the Starling app |
| Trustpilot Rating | 4.3/5 across 39,845 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Starling Bank business bank account review
Business Expert Rating
- Overall Rating: ★ 4.6/5
- Breakdown: Starling Bank excels in most categories, especially Features, Customer Service, and Accounting Integrations. It scores slightly lower in Accessibility due to the lack of physical branches.
Independent Survey
The table below presents information from an independent survey that queried customers on their likelihood of recommending Starling Bank’s services and products to other SMEs across specific categories.[1]
| Categories for Starling Bank | % of Customers Who’d Recommend |
|---|---|
| Overall Service Quality | 83% |
| Online and Mobile Banking | 86% |
| Relationship/Account Management | 71% |
Pros and Cons
Reasons to choose
✅ Quick to start.
✅ No monthly or overseas fees.
✅ Integrates with Quickbooks, Xero, & FreeAgent.
✅ Regulated with FSCS protection.
✅ 24/7 customer service.
✅ Cash deposits at Post Offices.
✅ Euro and Dollar accounts available.
Reasons to avoid
❌ No branches.
❌ Charges for cash deposits.
❌ Can’t earn interest on deposits.
❌ Some features require a £7/month Business Toolkit.
Mettle: Business Bank Account
- Quick application process
- Free to join and use
- Issuing invoices is easy
- App includes expense management functionality
- Good integration with all major accountancy software providers
- If you lose your card, it’s simple to free it from within the APP.
- As an e-money account it’s not FSCS protected
- You can’t pay out more than £10,000 per day
- There isn’t any overdraft or credit card available
- Cheque deposits are not available
- International payments are not available
Why We Picked the Business Bank Account from Mettle
The Mettle business account is a genuinely free digital-first banking solution for small businesses and sole traders, free of charge for both joining and usage. Despite being part of NatWest, it operates independently and excludes access to NatWest’s high-street branches.
Launched in 2019 to facilitate swift payments and with impressive accounting software integration, Mettle business accounts support balances up to £100,000 for limited companies and £50,000 for sole traders.
The account stands out for its quick application process and seamless financial management features, although it lacks overdraft facilities, cheque deposits and international payment options. Mettle bank accounts are protected under the Financial Services Compensation Scheme (FSCS).
Key features
- 0 Monthly Fee: No cost for account maintenance or UK payments.
- Quick Application Process: Set up an account rapidly.
- Accounting Software Integration: Direct links to major accounting tools.
- Invoicing Functionality: Simplified invoice management.
- Card Management Features: Freeze or unfreeze your card via the app.
- Customer Support: Accessible through in-app chat, email, or phone.
| Feature | Details for Mettle’s Business Bank Account |
|---|---|
| Monthly Fee | £0 |
| Transaction Fees | Free UK bank transfers |
| Account Access | Mobile app & online |
| FSCS & Fraud Prevention | Mettle is FSCS-protected |
| Set-up Time | Quick application process |
| Customer Service | Monday – Friday 8 am to 8 pm, Saturday and Sunday 9 am to 5 pm via app, phone, or email |
| Accounting Integration | FreeAgent, Xero and QuickBooks |
| Credit Lines | Mettle don’t currently provide any forms of overdraft, credit or lending services at the time of writing this. |
| Cash Deposits | To deposit cash, generate a barcode in the app and present it at a Post Office branch. |
| Cheque Deposits | Not supported with Mettle. |
| Rewards or Benefits | Integration with accounting software, instant invoicing, categorise spending. |
| Trustpilot Rating | 4.6/5 across 3,683 ratings (Accurate as of 23/04/24) |
⏩ Read our in-depth Mettle business bank account review
Business Expert Rating
- Overall Rating: ★ 4.5/5
- Breakdown: Scores top marks in Monthly Fees, Transaction Fees, and Accounting Integrations. It loses points in Accessibility, being app-only, and in Features due to the lack of international payments.
Pros and Cons
Reasons to choose
✅ Free to use
✅ Quick to set up
✅ Works well with accounting software
✅ Easy invoicing
✅ Expense management tools
✅ Good customer support
Reasons to avoid
❌ £10,000 daily limit on payments
❌ No overdraft or credit options
❌ No cash or cheque deposits
❌ No international payments
❌ Must use the app
❌Mettle is designed for sole traders and limited companies with up to two owners (only one owner can get access to the account)
Cynergy Bank: Business Current Account
- Earning a solid rate of interest for a current account (2.50% AER)
- No monthly fee for 12 month and only £25pm after that
- Super-fast setup time (15 minutes)
- Accounting software integrations are available
- There is a monthly fee of £25 after the first 12 months
- No overdraft facility is currently available
- Cash deposits are only available at UK HSBC branches
Eligibility Criteria
To be eligible, businesses must meet the following criteria:
- Location and Registration: The business must be based in the UK and registered with Companies House, if required.
- Business Types: Eligible entities include sole traders, partnerships, limited liability partnerships, and limited companies.
- Participants: Businesses may have up to 10 named individuals, including partners, directors, and shareholders. Shareholders who own 10% or more of the business must be included.
Exclusions:
- Charities or trusts are not eligible.
- Businesses not based in the UK are excluded.
FSCS Protection
✅
Trustpilot Score
2,540 ratings with an average rating of 3.5/5
Why We Picked the Business Current Account from Cynergy Bank
The Cynergy business current account offers a free, interest-earning option for the first 12 months, tailored for UK businesses seeking digital banking solutions. It offers a 2.50% AER on balances up to £25,000 and a subsequent £25 monthly fee covering all standard transactions.
The account also integrates seamlessly with accounting software like Xero, FreeAgent and QuickBooks. However, it excludes cash transactions, overdrafts, cheque deposits and international payments, focusing instead on digital management and savings.
Key features
- No Monthly Fee: No charges for account maintenance or UK payments for the first year.
- Quick Application Process: Account setup in as little as 15 minutes.
- Accounting Software Integration: Direct connections to major accounting platforms.
- Interest on Balances: Earn up to 2.50% AER on balances up to £25,000.
- FSCS Protection: Safeguard for deposits up to £85,000.
- Digital Banking Focus: Designed for businesses that prioritise their digital banking needs.
| Feature | Details for Cynergy Bank’s Business Current Account |
|---|---|
| Monthly Fee | £0 (for the first 12 months; £25pm thereafter) |
| Transaction Fees | Free standard electronic transactions; fees apply for cash, CHAPS, SWIFT, and SEPA transactions |
| Account Access | Online |
| FSCS & Fraud Prevention | Cynergy Bank is protected by FSCS. They also use 2-factor authentication. |
| Set-up Time | Can be set up in as little as 15 minutes. |
| Customer Service | Opening times are Monday – Friday: 09:15 – 17:15. |
| Accounting Integration | N/A |
| Credit Lines | Whilst their website is a bit vague in this area, they do state that overdrafts and business loans are available with Cynergy Bank. They also mention that they offer commercial mortgages and asset finance. |
| Cash Deposits | Pay into the account at UK HSBC branches |
| Cheque Deposits | It does state on their website that they support cheque deposits but the information is vague in this area in regards to the process. |
| Trustpilot Rating | 3.5/5 over 2,540 ratings (Accurate as of 23/04/2024) |
⏩ Read our in-depth Cynergy Bank business bank account review
Business Expert Rating
- Overall Rating: ★ 3.6/5
- Breakdown: Good scores in Features and Ease of Setup. Lower scores are due to high Monthly Fees after the first year and limitations in Accessibility, as it’s focused on digital management.
Pros and Cons
Reasons to choose
✅ Free for the first 12 months
✅ Can be set up in as little as 15 minutes
✅ Integrates with accounting software like Xero, FreeAgent, and QuickBooks
✅ Offers 1.50% AER on balances up to £25,000
✅ Protected by FSCS up to £85,000
✅ UK-based customer service available 7 days a week
Reasons to avoid
❌ £25 monthly fee after the first year
❌ Fees apply for cash, CHAPS, SWIFT, and SEPA transactions
❌ No overdraft facilities
❌ Cash deposit available only at UK HSBC branches
❌ Specific details on international services not provided
❌ Rewards and benefits mainly focused on interest earnings and digital banking tools
Side-by-Side Comparison of Features for Our Best Accounts
Below, we have put together a bespoke side-by-side feature comparison table that includes all the brands from our best business bank account list. Please use this table to compare the different features offered by each brand to help you make a more informed decision for your business.
| Feature | Tide | Revolut | ANNA Money | Cashplus Bank | Monzo | Wise | Metro Bank | Starling Bank | Mettle | Cynergy Bank |
|---|---|---|---|---|---|---|---|---|---|---|
| Account Access | App & Online | App & Online | App Only | App & Online | App & Online | App & Online | In-Branch, App & Online | App & Online | App & Online | Online Only |
| Accounting & Invoice Software Integrations | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | ✖ |
| Available Customer Service | 24/7 Support (for paid plans) | In-App | 24/7 Support | In-App | 24/7 Support | In-App | Mon-Fri: 08:00 – 16:00 | 24/7 support | In-App, Phone & Email | 24/7 customer support via app, email, and phone | Mon – Fri: 08:00 – 20:00 | In-App, Phone, Online & In-Personal available | 24/7 Support | In-App, Phone & Email | Mon–Fri: 08:00 – 20:00 | Weekends/Bank Holidays: 09:00 – 17:00 | Mon-Fri: 09:15 – 17:15 |
| Trustpilot Reviews | 4.1/5 | 4.2/5 | 4.6/5 | 3.6/5 | 3.9/5 | 4.3/5 | 2/5 | 4.3/5 | 4.6/5 | 3.5/5 |
| Setup Ease | Same-day | Same-day | Same-day | Same-day | 3 days | 2 days | 2 days | Same-day | 1 day | Same-day |
| FSCS Protection | ✔ | ✖ | ✖ | ✔ | ✔ | ✖ | ✔ | ✔ | ✔ | ✔ |
How to Choose the Right Business Bank Account
If you’re new to this, it’s important you know what to look for. We’ve compiled a list of the core features offered by the top accounts, and throughout this article, you’ll find handy tables showing you which brands have each of these features.
Make a list of the ones which matter most for your business’ unique circumstances, and ensure the account you opt for has them covered. Here are some of the things you may want to consider when choosing a bank account for your business:
- Fees and charges: It’s essential to understand what fees and charges may be associated with your business bank account, such as monthly maintenance fees, transaction fees, and overdraft fees. Make sure you compare these fees across different bank accounts to find the best deal.
- Interest rates: If your business has surplus funds, consider a business bank account that pays interest. That said, the challenger banking market – which offers the best accounts at the moment largely doesn’t offer interest at all so you’ll need to plump for a high street account if this is important to you.
- Overdraft facilities: Again, business overdrafts are mainly something you’ll find with regulated high street bank accounts. From the list of providers in this article, only Cashplus, Monzo and Starling offer the functionality for a small overdraft amongst the challengers, and only for qualifying businesses.
- Online banking and mobile app functionality: Make sure the bank you choose has a user-friendly online banking platform and a mobile app to manage your account on the go.
- Customer service and support: Look for a bank with a strong customer service and support reputation. Consider the availability of phone and email support and the quality of customer reviews.
- Integration with accounting software: If you use accounting software for your business, consider a business bank account that integrates with your software. This will help you keep track of your finances more easily and accurately.
- Deposit Protection – Not all business accounts in the UK have deposit protection. The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of deposits per eligible depositor per institution. Many digital-first accounts are actually e-money accounts rather than regulated banks, meaning they do not offer protection.
Additional Things to Consider Before Choosing
- Read the terms and conditions carefully: Before opening a business bank account, make sure you understand the terms and conditions of the account, including any fees and charges that may apply.
- Consider any special requirements: If you have specific requirements for your business banking, such as foreign currency transactions, make sure the bank you choose offers the services you need.
- Compare the customer reviews: Look for a bank with a strong reputation for customer service and support, and read customer reviews to get a sense of their experiences.
How to Open a UK Business Bank Account
To open a UK business bank account, you will typically need to follow these steps:
- Choose a bank: Compare the features and fees to find the best fit for your business.
- Gather necessary documentation: You will need to provide information about your business, including your company registration number, proof of identity, and the nature of your business.
- Apply: Complete the application process, which may involve an in-person meeting or the submission of an online application.
- Wait for approval: The bank will review your application and may request additional information or documentation.
- Fund your account: You will need to transfer funds into your new business bank account to start using it.
The Documents You’ll Need
You’ll need the following documents to open a business account in the UK:
- Official ID such as a driver’s license or passport
- Proof of your personal address: i.e. council tax statement or bank statement
- Proof of your legally registered business address: i.e. correspondence from HMRC or Companies House, a utility bill, a bank statement, or rental agreement.
- Estimated annual turnover of the business
- Copy of your Companies House formation document, including your limited company number
- Number of Employees
- Tax Status: i.e. vat registered
- Some banks may ask for details of your financial situation, including documents demonstrating a clean credit and banking history.
What are the Pros and Cons of a Business Bank account?
- Separates personal and business transactions
- Builds a business credit rating
- Easier tax reporting to HMRC
- It makes the business look more professional
- Financial protection for yourself and your business
- Business bank accounts generally come with higher fees than personal accounts
- Having a second account means more admin
- It may come with a minimum deposit requirement
Our Commitment to Updating Our Banking Content
In the rapidly evolving world of business banking, staying updated is key. Whilst we cannot always guarantee accuracy as the banking market is changing all the time, we do our utmost to make sure you get the very best business banking information on our platform. This is why Business Expert is committed to regular reviews of our content and diligently sticking to our update schedules, helping to ensure that you always have access to the latest information on business bank accounts, fees, regulations, and technological advancements.
We value your input. Join our community either through our newsletter, or give us feedback by using our contact page to share your experiences and suggestions, helping us refine our resources to serve you better.
Review Methodology and the Business Expert Rating System
Our analysis of 40+ UK business bank accounts brought us to 10 key accounts that we believe to be great choices for business owners in the UK for multiple reasons. We employed a focused, evidence-based approach, comparing a range of key aspects:
- Selection: We included a diverse array of accounts from both traditional and digital banks, and e-money institutions, to cater to various business demographics’ needs.
- Criteria for Comparison:
- Price: Monthly fees, transaction charges, and any hidden costs.
- Accessibility: The available routes to be able to manage the accounts.
- Features: Account functionalities, interest rates, overdraft facilities, etc.
- Customer Reviews: Analysis of feedback on platforms like Trustpilot, Google Play and the App Store to gauge satisfaction.
- Customer Service: Responsiveness and support quality.
- Mobile App UX: Ease of use and functionality of the bank’s mobile application.
- Software integrations: Available accounting and invoicing software integrations.
- Ease of setup: The time and resources required to set up an account.
- Data Collection: We compiled data from official bank sources, customer reviews, financial analysis reports, and direct user feedback.
- Continuous Updating: Our review reflects the most current information available at the time of analysis. However, product details may have changed since our last update. We aim to review as many products as possible, but not all market products may be included.
Business Expert’s Proprietary Rating System
Once we had our final 10, we put them all through our own 8-point rating system. Our bespoke rating system is comprised of the following. These metrics are led primarily by what business owners consistently mention as being most important to them when looking for a business bank account:
- Monthly Fees: Lower fees score higher.
- Transaction Fees: Fewer and lower fees score higher.
- Accessibility: More access options (web, app, branch, phone) score higher.
- Features: More features score higher.
- Accounting and Invoicing Software Integrations: More integrations score higher.
- Customer Service: Better service (availability, quality) scores higher.
- Customer Reviews: Higher ratings score higher.
- Ease of Setup: Quicker and simpler setup scores higher.
Disclaimer: This review represents our opinion and is provided for informational purposes. It does not constitute financial advice, a recommendation, or an endorsement of suitability for your specific financial circumstances. The information held within this article also does not take your personal circumstances into consideration. Please consult with a qualified financial advisor if in any doubt on what to do for your business.
FAQs
Do I Need a Business Bank Account?
That depends on the size of your business and whether it’s a separate legal entity.
A business bank account separates corporate finances from personal funds, simplifying tax compliance and enhancing professional credibility. So keep this in mind when making your decision.
You DO need a business bank account if:
- You run a limited company registered at Companies House
It may POSSIBLY be a good idea to get a business bank account if:
- Your business brings in significant turnover and you offset business expenses (it’s not a legal requirement but having a separate business account will make life easier)
- You simply wish to keep your personal and business finances separate.
As most business bank accounts charge a fee, you probably DON’T need a business bank account if:
- You’re a freelancer, sole trader or contractor (not through a limited company)
- You work in the gig economy for Uber, Deliveroo, Upwork, etc.
- You run a side hustle that brings in a small amount of additional income
Even if you’re not legally required to have one, there are benefits associated with opening a business bank account if your primary source of income comes from self-employment. It can make it easier to send invoices, keep track of payments, record your expenses and file and pay your self-assessment tax. You also start building a credit rating for your business, which is useful if you want to apply for a business loan or credit card in the future.
⏩ Read more: Do I need a business bank account?
How Long Does It Take to Open a Business Bank Account in the UK?
While applying for a business bank account can take as little as ten minutes, the compliance checks usually take longer. Many challenger banks can get you and running within a day, while high street banks typically take one to four weeks to complete the paperwork.
⏩ Read our full article on the fastest business bank accounts to open
How Do I Switch My Business Bank Account?
If you have ever switched your personal bank account the process is very similar for many business account providers.
It’s easy enough to switch bank accounts in the UK, especially if you sign up with a provider that’s signed the ‘Switch Service’, which automates the process. The Current Account Switch Service was set up to stop banks from deliberately making it difficult for people to change their accounts to another provider.
The following banks are signed up to the free Current Account Switch Service: Tide, Bank of Ireland, Bank of Scotland, Barclays, CardOneMoney, Co-operative Bank, Handlesbanken, HSBC, Lloyds, Monzo, Natwest, Royal Bank of Scotland, Santander, and Virgin Money.
⏩ Read our full article on Switching Your Business Bank Account
Can I open a Business Account with a Bad Credit History?
You will likely find opening certain business bank accounts with bad credit slightly more challenging, but it’s certainly possible. Some banks, such as Tide and Cashplus, offer specialist ‘no credit check’ accounts, allowing individuals with poor credit histories to open them. These accounts will have slightly less favourable terms than a regular account to cover the bank’s heightened risk but otherwise work precisely the same.
⏩ Read our full article on the best business bank accounts for bad credit
References
Overview of the Business Banking Service Quality Survey in Great Britain
In February 2024, a survey report was published detailing the findings from an independent study examining the service quality of the 15 largest business current account providers in Great Britain. This survey, conducted from January to December 2023 by BVA BDRC, was mandated by regulatory requirements and initiated at the behest of the participating providers and the Competition and Markets Authority. The aim of this survey was to facilitate comparisons of service quality among providers for small and medium-sized enterprises (SMEs).
Customers, representing various SMEs—including businesses, clubs, charities, and societies with an annual turnover of up to £25 million—were asked to evaluate their likelihood of recommending their provider’s services. These services included online and mobile banking, branch and business centre services, overdraft and loan services, and relationship or account management. The survey’s results reflect the percentage of customers who were ‘extremely likely’ or ‘very likely’ to recommend these services.
Providers included in this survey were Bank of Scotland, Barclays, Handelsbanken, HSBC UK, Lloyds Bank, Metro Bank, Monzo, NatWest, Royal Bank of Scotland, Santander, Starling Bank, The Co-operative Bank, Tide, TSB, and Virgin Money. Across these providers, approximately 1,200 customers are surveyed yearly in Great Britain, with results being considered valid for publication only when at least 100 customers have provided a score for the service in the survey period. In total, 18,000 people participated, with the results being updated biannually, in August and February. This survey allows SMEs to make informed decisions by providing a comparative insight into the service quality offered by different business current account providers.
