Our Top Online-Only Business Account Picks
Best Overall
Pick Tide for the broadest online-only feature set: invoicing, receipt scanning, expense categorisation, and native Xero, QuickBooks, and FreeAgent integrations.
Free plan costs nothing; Tide Plus at £9.99/month removes the 20p per-transfer fee above 50 payments. We rate it the strongest all-in-one digital account.
Get £100 cashback with TideBest Free Online-Only Account
Starling is the only genuinely free online-only option at any volume: no monthly fee, no per-transaction charge, no minimum balance. UK banking licence so deposits are FSCS-protected up to £120,000.
If volume is high and features are secondary, Starling costs less than every other provider on this list.
Visit StarlingBest for International Payments
Revolut wins for multi-currency operations: hold GBP, EUR, USD in one account with interbank FX. Basic costs £10/month with 5 free UK payments, then 20p each; Grow at £19/month removes per-transfer fees and adds higher FX allowances. We rate it best if you run 10+ international transfers monthly.
Visit RevolutBest for Interest on Balances
Zempler holds a UK banking licence (FSCS-protected) and pays interest on your business balance, a combination no other provider offers. If your working balance exceeds £10,000 monthly, the interest earned can offset the monthly fee on paid tiers. Worth modelling against your cash position.
Visit ZemplerA Closer Look at Each Online-Only Business Account
We assessed each provider on five criteria: real monthly cost at typical volumes, accounting integrations, cash deposit route and fee, app support quality, and FSCS protection status. All eight operate without branches.
The focus is what differentiates them from each other, not from traditional banks.
Tide Free Business Account
Revolut Business Basic Account
ANNA Money Pay As You Go Account
Zempler Bank Business Go Account
Counting Up Business Account
Starling Bank Business Current Account
Monzo Business Lite Account
Mettle Business Bank Account
What Online-Only Business Accounts Really Cost
Headline “free” pricing hides per-transaction fees that compound with volume. We modelled actual cost at 100 UK faster payments a month across all eight providers and confirmed the numbers from each provider’s published pricing in April 2026.
| Provider | UK transfer (100/mo) | FX markup | Paid tier |
|---|---|---|---|
| Starling | Free (£0) | ~0.5% (Wise rails) | None |
| Tide Free | 20p (£20) | ~0.5% (Wise rails) | Plus £9.99 (drops fee above 50/mo) |
| Revolut Basic | 5 free, then 20p (£19) | 0.4% to 1% | Grow £19 |
| Monzo Business Lite | Free | ~0.5% (Wise rails) | Pro £9 (Xero / QuickBooks) |
| Mettle | Free | n/a | None |
| ANNA | Pay-as-you-go | n/a | n/a |
| CountingUp | From £3/mo | n/a | n/a |
Traditional UK banks charge 1.5% to 3% on the same FX conversion, which is why Revolut pays back fast for regular international payments.
We modelled a £10,000 monthly USD-to-GBP conversion: Revolut costs £40 to £100, a traditional bank £150 to £300. Over a year that is £1,200 to £2,400 in avoidable FX markup.
Starling has no paid tier and its free plan covers the basics. If you need invoicing or receipt scanning, a Tide Plus or Monzo Pro account alongside Starling beats switching.
Cash Handling With Your Online-Only Business Account
Cash handling is the biggest practical limit of online-only banking. Every provider routes cash deposits through PayPoint or the Post Office network, or refuses cash entirely. We verified deposit routes and fees with each provider in April 2026.
Cash Deposit Routes by Provider
Tide and Monzo accept cash at PayPoint at £1 per bag. Starling uses the Post Office network at 0.7% of the deposit. ANNA supports Post Office deposits. Revolut does not accept cash deposits at all.
For providers supporting cash, you generate a paying-in slip in the app before visiting the deposit location. The process takes minutes but only works at participating locations. Check coverage near your trading address before picking a provider.
Break-Even Cash Volume
At £500 of cash a month, Starling costs £3.50 (0.7%), Tide costs around £4 (four bags). Negligible against zero monthly fees. At £5,000 a month, Starling’s 0.7% reaches £35, above the £8/month traditional bank fee. The break-even is roughly £3,500 a month in cash deposits.
If your cash volume sits below that, online-only is cheaper than a high-street account. Above it, either accept the premium for digital features or run the two-account approach.
The Two-Account Approach
For businesses with daily cash takings, the cleanest setup is two accounts: online-only as the primary for digital income and accounting; a traditional bank account for cash deposits that sweeps weekly to the online-only account. Starling and Tide both allow multiple accounts without restriction.
Which Features Matter Most for Online-Only Business Accounts
Features that matter at a traditional bank (branch access, relationship manager, wet-signature forms) are unavailable by definition. What matters instead is app quality, integration depth, and whether FSCS protects your balance when something goes wrong.
App Quality and In-App Support
Tide, Starling, Revolut, and Monzo all offer real-time in-app chat with priority response on paid plans. We rate Monzo highest on UX polish, Starling tightest on banking basics, Tide broadest on business features, and Revolut most feature-dense (which can overwhelm if you only need basic banking).
If your support escalation routes matter (disputed transactions, fraud, card replacements), the banking-licence providers (Starling, Monzo, Zempler, Mettle) offer statutory dispute pathways that e-money providers do not.
Accounting Integrations
Tide, Starling, and Monzo Pro integrate directly with Xero, QuickBooks, and FreeAgent. Revolut covers Xero and QuickBooks. Mettle includes a free FreeAgent subscription as an NatWest-backed benefit.
If your accountant reconciles monthly, pick a provider with native depth; manual CSV imports each month cost founder time you do not have.
FSCS Protection vs E-Money Safeguarding
Starling, Monzo, Mettle, and Zempler hold UK banking licences, so deposits are FSCS-protected up to £120,000 per eligible depositor. Tide, Revolut, ANNA, and Counting Up hold e-money licences; funds are safeguarded in ring-fenced accounts but are not directly FSCS-covered.
The practical difference matters if a provider fails. Safeguarding returns your balance, but without the statutory government guarantee or seven-day payout of FSCS. If your working balance regularly exceeds £50,000, a banking-licence provider is the safer primary.
How to Choose the Right Online-Only Business Account
The right account depends on four things in this order: your cash deposit volume, your payment volume, whether you trade multi-currency, and which accounting integrations your books need.
Choose by Cash Volume
Under £500 of cash monthly: any provider on this list works, fee impact is negligible. £500–£3,500: Tide or Monzo via PayPoint keeps deposit costs below traditional bank monthly fees. Above £3,500: either a traditional bank primary, or the two-account approach covered above.
Choose by Payment Volume
Under 50 outgoing payments a month: Starling free or Tide free (20p each). 50–100: Tide Plus at £9.99/month or stay on Starling. 100+: Starling stays free regardless of volume, no other provider matches that at scale without a paid tier.
Choose by Accounting Needs
Xero or QuickBooks user: Tide, Starling, Monzo Pro, or Revolut. FreeAgent user: Tide, Starling, or Mettle (free subscription included). Want native invoicing and VAT tracking without a separate accounting app: ANNA or CountingUp, more expensive, but the bundle replaces a £10–25/month subscription.
How to Switch to an Online-Only Business Account
Switching from a traditional bank to an online-only provider adds complexity that a like-for-like switch does not: CASS coverage varies, cash deposit routes change, and some historic direct debits need re-authorising. Plan the switch over 30–60 days, not a weekend.
Which Providers Support CASS
Starling, Monzo, and Mettle participate in the Current Account Switch Service: direct debits, standing orders, and incoming payments migrate within seven working days. Tide, Revolut, ANNA, Zempler, and Counting Up do not participate in CASS; you migrate payment mandates manually.
For a non-CASS switch, export your existing direct debits list and update each one by hand. Budget 2–4 hours for the admin; this is the single most-skipped step in business account switches and the usual cause of missed payments.
Running Both Accounts in Parallel
Keep the old account open for 30–60 days after the switch. Occasional direct debits trigger late, and some clients take weeks to update vendor records. A parallel window catches these without service interruption.
If you are switching primarily for lower fees, model the saving against the one-off admin cost. For most active businesses, Starling or Tide pays back the switch effort within 2–3 months.
Updating Clients and Suppliers
Update your invoice template before sending the next batch. For outstanding invoices, email each client with the new account details and ask them to update their payment records. Payroll is the highest-risk mandate: update HMRC and your payroll provider before the first cycle after the switch.
Frequently Asked Questions
Are online-only business bank accounts FSCS protected?
Only the banking-licence providers. Starling, Monzo, Mettle, and Zempler are authorised UK banks, so eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per banking licence. Tide, Revolut, ANNA, and Counting Up hold e-money licences rather than banking licences. The money you hold with them is safeguarded in a ring-fenced account separated from the provider’s own funds, but it does not carry the same statutory government guarantee as an FSCS-protected bank.
Can you get a business loan from an online-only bank?
Most online-only providers do not offer traditional business loans or overdrafts. Tide provides access to funding through a lending marketplace. You apply in the app and connect with suitable lenders. Starling offers an overdraft subject to eligibility, but it is the exception among digital providers. Revolut, Monzo, ANNA, Mettle, and Counting Up do not offer business lending. If you need an overdraft or term loan built into your banking, Starling is your most realistic digital option, or a traditional bank for larger facilities.
How do you deposit cash with an online-only business account?
Tide and Monzo accept cash deposits via PayPoint, charging £1 per bag. Starling uses the Post Office network at 0.7% of the deposit amount. ANNA supports Post Office deposits. Revolut does not accept cash deposits. For providers that support cash, you generate a paying-in slip through the app before visiting the deposit location. We verified this process with each provider in April 2026.
How quickly can you open an online-only business bank account?
Most online-only providers (Tide, Starling, Revolut, Monzo, and ANNA) open accounts within minutes to a few hours using app-based ID verification. You upload a photo ID, complete a selfie check, and receive an account decision in the app. Some applications trigger manual review and take 1–2 business days. Traditional banks typically take 5–10 working days including an appointment or video call.
Can a limited company open an online-only business bank account?
Yes. Tide, Starling, Revolut, and Monzo all accept limited companies. You need to provide your Companies House registration number, proof of identity for directors, and confirmation of your registered address. Mettle is the exception. It only accepts sole traders and single-director LTDs and does not support companies with multiple directors or shareholders.
How we reviewed Best Online-Only Business Bank Accounts
Ranking criteria. We ranked providers on cost, eligibility, features, and ease of access. Cost and protection carry the heaviest weight because these matter across every business type and rarely change with reader preferences.
Data sources. Every provider’s pricing page, terms, and product docs were checked directly in April 2026. No comparison sites, no press releases, no affiliate material. FCA register cross-checked for regulatory status.
Update cadence. We re-verify every provider on this page regularly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. Some links on this page are affiliate links, see our editorial policy.