Business Expert is an independent comparison site. Some partners may compensate us for promotion. This never affects our impartial evaluations based on fees, customer service, and product features.
Best Limited Company Bank Accounts: Rated for 2026
Compare 13 UK business bank accounts for limited companies, rated on approval speed, fees, FSCS protection, and accounting integrations. Verified May 2026.
For a new limited company I’d open Tide: same-day approval, no credit check, invoicing built in, all free. Starling is the better free account if you want FSCS cover and an overdraft, Revolut wins for overseas payments, and Allica pays interest once you’re holding real reserves.
Watch the pricing, because two headline numbers here aren’t what you pay. Revolut advertises its annual-equivalent rate, not the £35 a month you pay billed monthly, and Tide’s free plan charges 20p a transfer after just five. Neither is as free as it looks once you send volume.
New limited companies that want same-day opening, Tide, free plan, no credit check
Also worth it for
Companies that want genuinely free for the long run, Starling, with FSCS cover and a business overdraft
Think twice if
You hold large tax reserves in an e-money account, ANNA and Airwallex sit outside FSCS
Not for
Companies needing bank-enforced dual authorisation, only Barclays and NatWest offer it
13 accounts assessed against provider documentation and the FCA register in May 2026; Revolut and Tide pricing re-checked July 2026.
Best Limited Company Bank Accounts at a Glance
Every provider on this list accepts limited companies. The real difference is what happens after you apply: approval speed, cost structure, FSCS protection status, and whether the account was built for a company with directors, a corporation tax liability, and a requirement for team access.
We verified fees, eligibility, and features directly against each provider’s published pricing in May 2026. The table below covers 13 providers from challenger banks to high street names.
Quick Compare
Provider comparison
Provider comparison: Monthly Fee · Best For · Integrations
Data verified against provider websites, May 2026. Fees and features may change.
Our Limited Company Bank Account Picks
Our winner labels reflect what wins in each specific category. A limited company handling mostly UK payments has different priorities from one paying overseas suppliers or holding six-figure cash reserves.
Best Overall
Tide suits most new limited companies: opens same-day with no credit check, free invoicing built in, and direct integrations with Xero, QuickBooks, FreeAgent, and Sage. The Free plan carries no monthly fee.
The monthly fee isn’t where Tide makes its money. The Free plan gives you 5 transfers, then charges 20p per outgoing payment.
We ran the break-even, and it doesn’t fall where Tide’s pricing page implies. Smart (£12.49/month) buys 25 more included transfers than the free plan. That is £5 of transfer value for £12.49.
So on transfer cost alone, Smart never catches the free account up. You are buying budget certainty, not savings. Only Pro (£27.49, unlimited) gets genuinely cheaper, and not until around 143 payments a month.
Starling charges nothing, and means it: no monthly fee, no per-transfer fees, FSCS protection up to £120,000, and multi-director access. For a limited company running mostly UK transactions, there’s no cheaper long-run option.
The overdraft is the part rivals can’t match. Starling offers arranged overdrafts from £1,000 to £50,000 for limited companies trading for 24 months or more. Most digital banks don’t offer a business overdraft at all. We confirmed these terms directly in May 2026.
Tide, Revolut, and Starling all approve limited company accounts within hours for most straightforward applications. You’ll need your Companies House number, a UK director’s photo ID, and a description of your trading activity.
If your company was incorporated today, Tide will open the account today. That’s a practical advantage when you can’t wait for a traditional bank’s 3–10 working day underwriting process.
Revolut holds the edge for limited companies with regular overseas payments: interbank FX rates up to a £15,000 monthly limit on Grow, and the ability to hold and spend in 25+ currencies. Above the limit, a markup of 0.6–1% applies.
Airwallex is the one to look at for batch international payroll or multi-currency collections. It supports local payment rails in 120+ countries and is accepted by limited companies and LLPs. It doesn’t accept sole traders. Airwallex is an e-money institution, not a PRA bank.
ANNA stands out for limited companies managing their own bookkeeping: MTD-compliant VAT return preparation and real-time corporation tax estimates are built directly into the account, without needing a third-party accounting package.
The trade-off is regulatory status. ANNA is an e-money institution, not an FSCS-protected bank. Balances are safeguarded but sit outside the compensation scheme. We confirmed ANNA’s EMI status and built-in tax features against their product documentation in May 2026.
Allica is the standout pick for established limited companies with significant cash reserves: up to 4.08% AER (variable) via an integrated savings pot, FSCS protection up to £120,000, and a dedicated UK relationship manager.
The 4.08% rate is conditional. The base rate is 2.83% AER, with boosts for executing 15 transfers a month (0.5%), switching via CASS (0.5% for six months), and depositing £50,000+ in the first 14 days (0.25%). Eligibility requires 12 months of trading and sustained balances around £50,000.
The account also charges you for falling short. From February 2026, Allica takes £25/month if your average balance drops below £10,000 the previous month, unless you hold a loan. Have a quiet quarter and the account that was paying you interest starts charging you £300 a year.
Zempler is the free alternative: FSCS-protected, no monthly fee, and 0.5% AER on its savings pot with no minimum balance to maintain.
Individual verdicts for each of the 13 providers we track for limited companies. Each card covers fit, misfit, and the real product limitations that marketing pages understate.
Tide Free Business Account
A free, app-based business account with built-in invoicing and a direct Sage bank feed.
Watch out: After the first 5 free transfers each month, every bank transfer in or out costs 20p, and the free plan caps invoicing at 3 a month. Overseas card use carries a 2.75% FX fee on the free plan (0% on paid plans).
Not ideal if: Businesses needing an overdraft, branch access, or a multi-currency account that holds foreign-currency balances
Free plan£0/month. 5 free transfers in or out per month, then 20p each. 3 free invoices per month.
Smart plan£12.49/month (or £99.99/year). 30 free transfers then 20p each.
Pro plan£27.49/month (or £219.99/year). Unlimited transfers.
Max plan£69.99/month (or £559.92/year). Unlimited transfers and invoicing.
FX fee (free plan)2.75% on overseas card use
FX fee (paid plans)0% on overseas card use
International paymentsSend and receive supported (SEPA and SWIFT); not a multi-currency holding account
FSCS protectionYes, up to £120,000 (new accounts via ClearBank)
Eligible entitiesSole traders and freelancers, and UK limited company directors (not partnerships or LLPs)
Eligibility: UK sole traders and freelancers, and directors of UK limited companies. Partnerships, LLPs, CICs and charities are not eligible. Fast online application with photo-ID and selfie verification; standard KYC checks apply. New accounts are provided by ClearBank and are FSCS-protected up to £120,000. Some legacy accounts issued before the ClearBank switch remain on an e-money safeguarding model.
Not ideal if: Businesses needing an overdraft, branch access, or a multi-currency account that holds foreign-currency balances
Watch out: After the first 5 free transfers each month, every bank transfer in or out costs 20p, and the free plan caps invoicing at 3 a month. Overseas card use carries a 2.75% FX fee on the free plan (0% on paid plans).
No monthly fees on free plan
New accounts FSCS-protected up to £120,000 via ClearBank
Best for: Incorporated UK businesses that want one account for UK banking, multi-currency wallets, team expense cards, and FSCS protection
Watch out: UK sole traders cannot open Revolut Business and are directed to Revolut Pro instead. Revolut is phasing accounts onto the FSCS-covered bank entity; some new signups still open on the e-money side. Check your terms to confirm which entity holds your money.
Not ideal if: UK sole traders, businesses that need branch access, cash deposits, or an overdraft, and anyone whose monthly FX volume regularly spikes above the plan allowance
Basic plan£10/month (no annual discount)
Grow plan£35/month billed monthly, or £30/month effective on annual billing (£360/year)
Scale plan£125/month billed monthly, or £90/month effective on annual billing (£1,080/year)
FX allowance (Basic)£1,000/month at interbank rate, then 0.6% markup
FX allowance (Grow)£15,000/month at interbank rate, then 0.6% markup
FX allowance (Scale)£60,000/month at interbank rate, then 0.6% markup
Currencies held25+
Local account detailsGBP, EUR, USD
Team cardsYes (physical and virtual, with spend limits and controls)
FSCS protectionUp to £120,000 on eligible deposits held by Revolut Bank UK Ltd. Check your account terms for your contracting entity.
Eligible entitiesLimited companies, LLPs, partnerships (UK sole traders not eligible)
Eligibility: Limited companies, LLPs, and partnerships registered in the UK are eligible for Revolut Business. UK sole traders are not eligible and are directed to Revolut Pro, a fee-free account in the personal Revolut app. Revolut is also available to businesses in many EU and EEA countries. Restricted and prohibited industries include gambling, adult content, and certain financial services. Standard KYC and company document checks apply on opening. FSCS protection up to £120,000 applies to eligible deposits held by Revolut Bank UK Ltd; some accounts may still be on the older Revolut Ltd e-money entity during the phased migration. Check your in-app terms to confirm your contracting entity.
Not ideal if: UK sole traders, businesses that need branch access, cash deposits, or an overdraft, and anyone whose monthly FX volume regularly spikes above the plan allowance
Watch out: UK sole traders cannot open Revolut Business and are directed to Revolut Pro instead. Revolut is phasing accounts onto the FSCS-covered bank entity; some new signups still open on the e-money side. Check your terms to confirm which entity holds your money.
FSCS protection up to £120,000 on bank entity accounts
Interbank FX rate inside the monthly allowance
Team expense cards with per-card spend limits and controls
Invoicing on every plan including Basic
API access on Grow and Scale plans
UK sole traders cannot open Revolut Business
Grow is £35/month and Scale is £125/month when billed monthly
FSCS protection is not guaranteed on day one: some new signups still open on the e-money entity
No overdraft facility
FX carries a 0.6% markup above the monthly allowance
Multi-currency accounts with interbank FX inside monthly allowances
Team expense cards with custom spending limits and merchant controls
Watch out: 20p per transfer after the first 20 free each month; international SWIFT payments cost £5 plus 1% currency conversion.
Not ideal if: Businesses making many daily transactions or needing FSCS deposit protection
Pay As You Go (PAYG)£0/month. 20 free transfers/month, then 20p each. 0.95% commission on all incoming payments other than transfers from your own accounts. £5 per SWIFT payment.
Business plan£22.90/month + VAT. 60 free local transfers/month, then 20p each.
Big Business plan£59.90/month + VAT.
+Taxes add-on£29.00/month + VAT. For limited companies only.
Incoming-payment cost exampleA freelancer receiving £5,000/month in client payments on PAYG pays £47.50 in incoming-payment commission alone (0.95%), before any other fees.
FX fee1% currency conversion on card payments abroad
International SWIFT transfers£5 per payment
Accounting integrationsBuilt-in tax and expense tools (limited third-party integrations)
OverdraftNot available
FSCS protectionNo on the main account (e-money, safeguarded under the Electronic Money Regulations 2011). ANNA’s separate Griffin easy-access savings account is FSCS protected up to £120,000.
Eligibility: UK sole traders, limited companies, and LLPs are eligible. Fast app-based setup. Standard KYC and identity checks apply. ANNA is an e-money account (not a bank), so funds are safeguarded at partner banks rather than covered by FSCS.
Not ideal if: Businesses making many daily transactions or needing FSCS deposit protection
Watch out: 20p per transfer after the first 20 free each month; international SWIFT payments cost £5 plus 1% currency conversion.
AI-powered receipt scanning and tax calculations
Automatic expense categorisation
Built-in invoicing with payment chasing
Company formation through the app
Pay As You Go pricing suits low-volume businesses
0.95% commission on incoming payments on PAYG makes it expensive for freelancers with regular client revenue: £47.50/month on £5,000 of receipts
20p per transfer after the first 20 free each month on PAYG
No FSCS protection on the main account (e-money safeguarded; only the separate Griffin savings account is FSCS protected)
Not a Current Account Switch Service participant
Limited third-party integrations
No overdraft facility
AI receipt scanning, photograph and auto-categorise expenses
Integrated invoicing with automatic payment reminders
Automatic VAT and self-assessment preparation
Zempler Bank Business Go Account
One of the few digital banks to offer an overdraft facility on a free account, alongside built-in accounting, invoicing and Making Tax Digital tools that most app-only accounts charge for or don’t offer.
Best for: Free banking with built-in accounting and an overdraft option
Watch out: 3 free bank transfers per month, then 35p each. Built-in accounting, invoicing and Making Tax Digital tools are free; third-party integrations are fewer than Tide or Starling.
Not ideal if: Businesses needing deep third-party accounting integrations like Xero or QuickBooks
Eligibility: Sole traders, LTDs, LLPs, partnerships
Not ideal if: Businesses needing deep third-party accounting integrations like Xero or QuickBooks
Watch out: 3 free bank transfers per month, then 35p each. Built-in accounting, invoicing and Making Tax Digital tools are free; third-party integrations are fewer than Tide or Starling.
Built-in accounting, invoicing and MTD tools at no extra cost
FSCS protected up to £120,000
No monthly fees
Overdraft facility available, rare for a digital bank
Personal phone support
Free in-app Tap to Pay for accepting contactless card payments, no separate reader or Zempler fee
Only 3 free bank transfers/month, then 35p each
Third-party accounting integrations more limited than Tide or Starling
Fewer digital features than Tide or Starling
Relatively small user base
Free business current account with built-in accounting, invoicing and MTD tools
FSCS deposit protection up to £120,000
No monthly account fees
3 free UK bank transfers/month, then 35p each
In-app Tap to Pay (via Stripe) to accept contactless card payments, free of any Zempler fee
Allica Bank Business Rewards Account
Allica pays competitive interest on business current account balances, a strong choice for cash-rich SMEs.
Best for: Competitive interest on business savings
Watch out: £25/month fee if your average balance falls below £10,000 in any given month. Fewer features and integrations than established digital banks.
Not ideal if: Businesses that don’t consistently hold £10,000+ in their account, or those needing invoicing tools and accounting integrations.
Not ideal if: Businesses that don’t consistently hold £10,000+ in their account, or those needing invoicing tools and accounting integrations.
Watch out: £25/month fee if your average balance falls below £10,000 in any given month. Fewer features and integrations than established digital banks.
Competitive interest on business current account balances
FSCS protected up to £120,000
No monthly fee if average balance stays above £10,000
Dedicated relationship managers
Savings pots with competitive rates
£25/month if average balance drops below £10,000
Relatively new, fewer features than established digital banks
Best for: Multi-currency wallets and batch payments
Watch out: £19/month fee unless you maintain £10k+ monthly deposits. Not a full UK current account and no FSCS protection.
Not ideal if: Domestic-only businesses with simple banking needs
Monthly fee£19/month (free if you deposit £10,000+ in the month)
FX rateInterbank rate +0.5%
Transfer feeFree (including batch payments)
Currencies held60+
Local account detailsMajor markets including USD, EUR, GBP, AUD, CAD, SGD and more
API accessYes (for treasury automation and integrations)
Accounting integrationsXero, QuickBooks, NetSuite
OverdraftNot available
FSCS protectionNo (e-money safeguarded)
Eligible entitiesUK-registered limited companies and LLPs (not sole traders)
Eligibility: UK-registered limited companies and LLPs are eligible. Sole traders are not currently supported. Standard KYC checks and business registration documents required. Unsupported industries include gambling, adult content, and certain financial services.
Not ideal if: Domestic-only businesses with simple banking needs
Watch out: £19/month fee unless you maintain £10k+ monthly deposits. Not a full UK current account and no FSCS protection.
Multi-currency wallets in 60+ currencies
Competitive FX at interbank +0.5%
Batch payment processing
API access for treasury automation
Local account details in major markets
£19/month unless you deposit £10,000+ in the month
Not a full UK current account
No FSCS protection (e-money safeguarded)
Overkill for domestic-only businesses
Multi-currency wallets holding 60+ currencies
Local receiving accounts in USD, EUR, GBP, AUD, and more
Batch payments for payroll and supplier runs
API and webhook integration for treasury automation
Starling Bank Business Current Account
Award-winning app, free transfers, and overdraft availability make Starling one of the strongest all-round digital business accounts.
Best for: Full-featured free account with built-in invoicing, MTD tools and overdraft
Watch out: No branch access and limited human support options. International SWIFT transfers cost 0.4% currency conversion plus £5.50 delivery fee each. The free invoicing and Accounting Essentials features are confirmed on Starling’s sole trader account; verify feature parity before assuming an identical set on the limited company account.
Not ideal if: Businesses that need face-to-face banking, complex lending, or Sage integration
Monthly feeFree
UK bank transfersFree
Native invoicingFree (sole trader account)
MTD for Income TaxHMRC-recognised, built into Accounting Essentials, free
Accounting integrationsXero, QuickBooks, FreeAgent, Penfold, SumUp, all free
FX rateMastercard exchange rate
International SWIFT transfers0.4% currency conversion + £5.50 delivery fee per payment
OverdraftAvailable (subject to eligibility)
Multi-currency accountsEuro and USD sub-accounts available
CASS switchingSupported for business accounts
FSCS protectionYes, up to £120,000
Eligible entitiesSole traders, limited companies, LLPs (general partnerships not supported)
Eligibility: UK sole traders, limited companies, and LLPs are eligible. General partnerships are not currently supported. Standard identity and business verification required. FSCS protection up to £120,000 applies to eligible deposits.
Not ideal if: Businesses that need face-to-face banking, complex lending, or Sage integration
Watch out: No branch access and limited human support options. International SWIFT transfers cost 0.4% currency conversion plus £5.50 delivery fee each. The free invoicing and Accounting Essentials features are confirmed on Starling’s sole trader account; verify feature parity before assuming an identical set on the limited company account.
Completely free with no monthly fees and no UK transfer fees
Free invoicing and free Accounting Essentials (HMRC-recognised MTD tool) on the sole trader account
Free integrations with Xero, QuickBooks and FreeAgent
FSCS protected up to £120,000
Award-winning mobile app
Overdraft available subject to eligibility
Supports the Current Account Switch Service
No branch access
Limited human support options
Free invoicing/Accounting Essentials confirmed for the sole trader account; verify parity on the limited company account
Overdraft not guaranteed
Free business current account with no transaction fees
Free native invoicing and free Accounting Essentials (HMRC-recognised MTD for Income Tax)
Best for: Clean mobile banking with smart budgeting
Watch out: Free plan is very basic; most useful features require Pro (£9/month, first month free). Incoming foreign currency payments incur a 1% conversion fee (capped at £1,000 per transaction) on all plans.
Not ideal if: Businesses needing branch access or complex lending products.
Eligibility: Sole traders, LTDs
Not ideal if: Businesses needing branch access or complex lending products.
Watch out: Free plan is very basic; most useful features require Pro (£9/month, first month free). Incoming foreign currency payments incur a 1% conversion fee (capped at £1,000 per transaction) on all plans.
Regulated UK bank account, FSCS protected up to £120,000 on eligible deposits (all plan tiers)
Excellent app UX with pots for budgeting
Tax pot automatically sets aside estimated tax
Free Lite plan available
Instant spending notifications
Fee-free spending abroad on paid plans
Free plan is very basic
Most useful features require Pro (£9/month)
1% conversion fee on incoming foreign currency payments (capped at £1,000 per transaction)
Overdraft subject to eligibility; not guaranteed
No branch access
Pots for ring-fencing tax, savings, and expenses
Tax pot with automatic percentage set-aside
Integrations with Xero, QuickBooks, FreeAgent
Fee-free spending abroad (paid plans)
Mettle Business Bank Account
Backed by NatWest, Mettle offers completely free banking with native invoicing and a free FreeAgent subscription included.
Best for: Genuinely free banking for sole traders, with native invoicing and free FreeAgent
Watch out: FreeAgent stays free only if you make at least one transaction a month from your Mettle account; the optional Mettle+ upgrade (£4/month) is needed to convert quotes into invoices. Not a CASS participant, so switching in or out is a manual process.
Not ideal if: Businesses needing overdraft, multi-owner access, or CASS switching
Eligibility: Sole traders, LTDs with up to two owners (only one owner can access the account).
Not ideal if: Businesses needing overdraft, multi-owner access, or CASS switching
Watch out: FreeAgent stays free only if you make at least one transaction a month from your Mettle account; the optional Mettle+ upgrade (£4/month) is needed to convert quotes into invoices. Not a CASS participant, so switching in or out is a manual process.
Completely free, no monthly fees, no transaction fees
Native invoicing included free, with automatic payment matching
Free FreeAgent subscription included (subject to a monthly-transaction condition)
FSCS protected (backed by NatWest)
Simple, no-frills interface
No hidden charges
FreeAgent stays free only if you transact at least once a month from the Mettle account
Converting quotes to invoices needs the paid Mettle+ upgrade (£4/month)
Not a CASS participant, switching is a manual process
No overdraft facility
Only one owner can access the account, even on a two-owner LTD
Genuinely free business banking with zero transaction fees
Watch out: £8.50/month after the free period; cash handling charges
Not ideal if: Businesses wanting permanently free banking
Eligibility: Sole traders, LTDs, partnerships, startups
Not ideal if: Businesses wanting permanently free banking
Watch out: £8.50/month after the free period; cash handling charges
Nationwide branch network
12 months free banking for startups
FSCS protected up to £120,000
Full lending suite (loans, overdrafts, asset finance)
Dedicated startup support programme
£8.50/month after free period
Cash handling charges apply
Digital experience lags behind fintechs
Can be slow to open accounts
12 months free banking for new businesses
Branch access at over 1,000 UK locations
Business overdraft and loan facilities
Discounted FreeAgent accounting software
NatWest Business Bank Account
NatWest drops the monthly account fee and throws in a free FreeAgent subscription for as long as you bank with them, and switchers get two full years of free everyday banking.
Watch out: Two years’ free everyday banking comes two ways: automatically on the Start-up account (new business, trading under a year, turnover under £1m), or via a full CASS switch to the standard Business account (existing business, turnover under £2m, not switching from RBS or Ulster Bank). After either free period you move to NatWest’s Standard Tariff, where cash paid in costs £0.95 per £100 (plus a £0.95 per-item manual handling charge), and non-sterling card transactions carry a 2.75% fee.
Not ideal if: Businesses wanting permanently free banking or multi-currency support
Eligibility: Sole traders, LTDs, partnerships, startups
Not ideal if: Businesses wanting permanently free banking or multi-currency support
Watch out: Two years’ free everyday banking comes two ways: automatically on the Start-up account (new business, trading under a year, turnover under £1m), or via a full CASS switch to the standard Business account (existing business, turnover under £2m, not switching from RBS or Ulster Bank). After either free period you move to NatWest’s Standard Tariff, where cash paid in costs £0.95 per £100 (plus a £0.95 per-item manual handling charge), and non-sterling card transactions carry a 2.75% fee.
Free FreeAgent accounting software for as long as you hold the account
No standard monthly account fee
Two years’ free everyday banking for switchers
FSCS protected up to £120,000
Strong lending options and startup support
Standard transaction charges kick in once the free-banking period ends
Cash handling costs £0.95 per £100 on the Standard Tariff, once the free period ends
2.75% fee on non-sterling card transactions
Digital experience still trails the fintechs
Two years’ free everyday banking for switchers (turnover up to £2m)
Free FreeAgent accounting software while you hold the account
Business overdraft and loan facilities
Entrepreneur accelerator programme
Lloyds Bank Business Account
Lloyds offers the full high-street package: branches, relationship managers, overdraft, and lending.
Watch out: £10/month after 12-month free period; first 100 electronic payments free then 20p each; cash deposits £1.50/£100 at counter
Not ideal if: Businesses wanting zero-fee banking or advanced digital tools
Eligibility: Sole traders, LTDs, partnerships
Not ideal if: Businesses wanting zero-fee banking or advanced digital tools
Watch out: £10/month after 12-month free period; first 100 electronic payments free then 20p each; cash deposits £1.50/£100 at counter
12 months free day-to-day banking for new businesses
FSCS deposit protection up to £120,000 (full banking licence)
Branch network across England and Wales
Business overdraft up to £50,000 with instant online decision
Full lending suite: loans, asset finance, and commercial mortgages
Relationship managers for qualifying businesses
First 100 electronic payments out each month are free
£10/month after the 12-month free period
Cash deposits at counter cost £1.50 per £100 (machine rate £0.85/£100)
Electronic payments beyond 100/month cost 20p each
Digital experience behind challenger banks
From December 2025: £12/month additional fee for unauthorised overdrafts over £12
£10/month (12 months free for new businesses)
Branch network across England and Wales
Business overdraft up to £50,000
First 100 electronic payments out each month free
What Limited Company Bank Accounts Really Cost
Headline monthly fees tell you roughly a third of the story. Transfer charges, cash deposit rates, and FX margins stack on top. We pulled live pricing from every provider in May 2026.
Monthly fees and transfer charges: Tide, Starling, Mettle, Monzo Lite, Zempler, and Allica all offer a free base account with no monthly fee. Revolut Business Basic costs £10 a month and includes only 10 free local transfers before charging £0.20 each. It’s not a free account in any meaningful sense.
ANNA’s PAYG plan charges no monthly fee but levies 0.95% on every payment into the account. The first 20 outgoing transfers per month are free; above that, £0.20 each. For a company receiving £20,000 in invoices a month, that’s £190 in fees before you send a single payment.
The catch is the 0.95% on money coming in, not going out.
Cash deposit fees: if your company still handles notes and coins, this is where the accounts split hardest. Three of them take no cash at all.
Provider
Cash deposits
Tide
£1 per deposit bag at PayPoint
Starling
0.7% at the Post Office (min £3)
Zempler
0.55% at the Post Office (min £4)
HSBC, Barclays, NatWest, Lloyds
In-branch, within a monthly free allowance
Monzo
£1 per deposit at PayPoint or Post Office
Revolut, Airwallex
No cash deposits
Cash-handling options across the accounts that take deposits. Verified against provider documentation, May 2026.
If you’re banking cash every week, say after market days, the traditional banks’ in-branch free allowance is often the deciding factor, not the headline monthly fee. For occasional deposits, Tide’s flat £1 a bag is the simplest to predict.
When a paid plan offers better value: Tide Smart (£12.49 a month) includes 30 UK transfers and gives budget certainty. Tide Pro (£27.49) removes the per-transfer fee entirely. We ran the break-even: Pro beats paying per transfer at around 143 outgoing payments a month.
Revolut Business Grow includes 100 free local transfers. That’s not unlimited, and £0.20 applies above 100. The FX limit is £15,000/month at interbank rates.
Grow costs £35 a month billed monthly, or an effective £30 a month only if you pay £360 for the year up front. Scale, with a £60,000 FX limit and 1,000 included transfers, is £125 a month billed monthly, or £90 on a £1,080 annual plan.
The lower numbers are the ones Revolut puts in front of you. Pay monthly on Scale and you’re £420 a year adrift of the price you were shown. That’s not a rounding error. It’s a line item no director ever put in the forecast, because nobody showed it to them.
Opening a Limited Company Bank Account
Opening a limited company account takes between 10 minutes and 10 working days depending on your provider. Digital banks run automated identity checks. Traditional banks run underwriting reviews that involve a human assessor and often a credit check on the directors.
What you’ll need: a limited company is verified through Companies House, so the checklist is much the same across providers. Have these ready before you start:
Your Companies House registration number and registered address
The full name and date of birth of each director, and of every beneficial owner with 25% or more shareholding
Photo ID for each director
A description of your trading activity and SIC code (most digital banks ask for this)
Missing a beneficial owner is the single most common reason an application stalls. We confirmed the requirements against each provider’s application flow in May 2026.
Some SIC codes trigger manual review or an outright decline. Gambling, cryptocurrency services, and money services businesses are commonly flagged across Tide, Revolut, and Starling.
How long it takes: Tide, Revolut, Starling, Monzo, ANNA, and Zempler approve within hours for most straightforward limited companies. A complex ownership structure or a flagged SIC code can push this to a day or two for manual review.
HSBC, Barclays, NatWest, and Lloyds typically take 3–10 working days. These banks run underwriting reviews involving a human assessor, checking both the company and, for some products, the personal financial history of the directors.
If you incorporated yesterday and need to invoice your first client on Monday, a traditional bank won’t open in time. Tide, Revolut, or Starling can. That’s the practical difference that matters on day one of trading.
Director checks and credit history: most digital banks don’t run a hard credit check on directors for a current account. They verify identity instead. A director with a personal CCJ can usually still open with Tide, Starling, or Revolut.
Traditional banks use a soft credit search during account applications, which doesn’t affect a director’s personal credit score. A hard check is only run if you apply for an overdraft or business credit card at the same time.
A history of personal defaults or a dissolved company on a director’s record can delay or block a traditional bank application. If that applies, start with the digital banks first.
Limited Company Bank Account Features
The features that matter most for a limited company differ from those that matter for a sole trader. Multi-user access, VAT management, and FSCS protection on larger balances each shift the shortlist.
Multi-user and team access: Tide, Revolut, and Starling all allow multiple team members under defined roles. Revolut is the most granular: set spending limits per card and require payment approval above a threshold on paid plans. Monzo Business Pro allows 3 members; Team allows 15.
Starling gives every added user full administrative access. There are no granular permission roles, so the bookkeeper you added last month can move the same money a director can.
Traditional banks (Barclays, NatWest) offer dual authorisation, where two directors must approve outgoing payments above a set amount. Most digital banks don’t. Check before you choose, not after someone has already paid the wrong invoice.
Accounting and tax integrations: every digital bank on this list connects to Xero and QuickBooks. NatWest and Mettle bundle FreeAgent free for as long as you hold the account. We confirmed FreeAgent bundle availability directly with NatWest and Mettle in May 2026.
ANNA goes further with built-in VAT return preparation and corporation tax estimates without needing any third-party integration. That’s the distinction: ANNA calculates your VAT obligations inside the bank; Tide, Starling, and Revolut feed your data to your accountant’s existing software.
For a limited company filing quarterly VAT returns, if your accountant already uses FreeAgent, Mettle or NatWest removes a separate software cost entirely. ANNA is the alternative when there’s no external accountant in the picture.
FSCS protection vs e-money safeguarding: the table below shows who is covered. The line that matters is the split between the two protection types, because it decides what happens to your money if the provider fails.
E-money safeguarding ringfences your funds from the provider’s own capital, but those funds sit outside the FSCS compensation scheme. For a profitable limited company, £40,000–£80,000 in earmarked VAT and corporation tax can sit in the account at any point in the year.
For companies holding reserves like that, an FSCS-protected account is the sensible default. With Revolut, Tide, and Monzo all now in that bracket, the FSCS shortlist is wider than it used to be. We cross-checked every provider against the FCA register in May 2026.
Provider
Deposit protection
Starling, Monzo, Allica, Zempler
FSCS, to £120,000
Mettle
FSCS, via NatWest’s PRA licence
Tide
FSCS, via ClearBank
Revolut
FSCS, full UK banking licence from March 2026
HSBC, Barclays, NatWest, Lloyds
FSCS, to £120,000
ANNA, Airwallex
E-money safeguarding, outside FSCS
Deposit protection across all 13 accounts, cross-checked against the FCA register, May 2026.
How to Choose a Limited Company Bank Account
Four questions shape the right choice: how many UK payments do you make each month, do you transact in foreign currencies, do you handle cash, and how large are the balances you hold between invoices and tax payments?
On transfer cost, Starling’s zero-fee account is the one to beat for a UK-heavy company. Tide’s free plan covers 5 transfers then charges 20p, and upgrading to Smart buys budget certainty rather than savings.
Only Tide Pro (£27.49, unlimited) gets genuinely cheaper than paying per transfer, and not until around 143 payments a month. The full break-even is in the costs section above.
Picture the last Friday of the month, when you pay 40 suppliers before the weekend. On Tide’s Free plan that run costs you £7 in transfer fees. At Starling it costs nothing, however many you send.
If you hold more than £50,000 in your company account regularly, FSCS protection should be on the checklist. Allica combines FSCS coverage with interest on balances. Since March 2026, Revolut and Tide (via ClearBank) are also FSCS protected, which widens the field considerably.
Frequently Asked Questions
Does a limited company need its own bank account?
Yes, in practice. A limited company is a separate legal entity from its directors, and HMRC expects the company’s income and expenses to be clearly separated from directors’ personal finances. Using a personal account for company transactions creates complications: it can be treated as extracting company funds without a proper salary or dividend process, and most accountants will refuse to prepare accounts from mixed records.
Can a dormant limited company open a bank account?
Several digital banks, including Tide and Starling, will open accounts for dormant companies. You’ll need to confirm the dormant status and describe the intended future use. Traditional banks are less consistent and some require evidence of upcoming trading activity before approving a dormant application.
Do I need a business account to pay myself a salary from my limited company?
Yes. Director salaries and dividend payments need to flow from the company’s dedicated account to a personal account to be properly documented for HMRC. Mixing this through a personal account makes payroll records and self-assessment submissions harder to defend if HMRC queries the company’s tax position.
What happens to company funds if the bank fails?
Starling, Mettle (NatWest group), Monzo, Zempler, Allica, Revolut (full PRA licence, March 2026), Tide (via ClearBank), HSBC, Barclays, NatWest, and Lloyds all hold UK banking licences, so eligible deposits are FSCS-protected up to £120,000 per banking licence. ANNA and Airwallex use e-money safeguarding instead: funds are ringfenced but sit outside the FSCS scheme.
Can two directors both access and approve payments?
Yes, with most providers. Tide, Revolut, Starling, and all traditional banks support multi-user access with defined roles. The distinction worth understanding is dual authorisation, where two directors must both approve outgoing payments above a threshold. Barclays and NatWest support configurable dual authorisation. Most digital banks don’t, though Revolut offers payment approval workflows on paid plans.
How We Reviewed
Ranking criteria. We rank limited company accounts on access (can most newly incorporated LTDs open it), total cost at typical UK payment volumes, FSCS protection status, multi-user functionality, and accounting and tax integrations. Speed of approval and app quality are the tie-break.
Data sources. We checked every provider’s pricing page, eligibility criteria, and product documentation in May 2026, and re-checked Revolut’s and Tide’s tier pricing in July 2026.
We verified FSCS status against the FCA register, including Revolut’s full UK banking licence (March 2026), Tide’s ClearBank coverage, and Mettle’s NatWest PRA status. Some links are affiliate links. See our editorial policy.
