RBS Business Account Review: 24 Months Free in Scotland
RBS: 24 months free banking for startups, FreeAgent included for the life of the account, FSCS-protected to £125,000. Pay-as-you-go Standard Tariff after the free period. Branch access in Scotland, NatWest branches, and Post Office.
NatWest-group banking with Scottish branches, free FreeAgent, and 24 months free
- 24 months free banking for startups
- Free FreeAgent accounting software included
If you’re a Scottish business looking for a full UK high-street bank, RBS offers 24 months free banking, a lifetime FreeAgent subscription, and access to overdrafts and lending. After the free period, you move to a pay-as-you-go Standard Tariff with no monthly maintenance fee.
You can rely on this page: every claim traces to RBS’s published product documentation and the FCA Financial Services Register. We reviewed RBS’s pricing, terms, and regulatory status from rbs.co.uk and the RBS Standard Tariff document in April 2026.
Before committing: do you actually need Scottish branches? Mettle (the NatWest group’s own digital account) is permanently free and also includes FreeAgent. If branches and a lending relationship don’t matter to you, Mettle is the better choice.
If you pay suppliers digitally and your cash flow is managed through bank transfer, you can access the same FreeAgent and FSCS protection through Mettle at no monthly cost.
Our Verdict on the RBS Business Bank Account
If you need a high-street bank with local branch access in Scotland, RBS earns a place on your shortlist. The deal is FreeAgent for life. Accounting software included for the life of the account, no subscription renewal, no expiry date.
The question you should answer first: do you need Mettle instead? NatWest’s own digital account is permanently free, includes FreeAgent at no cost, and carries FSCS protection through the same banking group. Mettle is RBS with the branch costs and transaction fees stripped out.
You should choose RBS if you run a retail business and need to deposit Saturday’s cash takings at a counter. When your shop closes at 5pm and the cash bag needs banking before Monday, having a branch ten minutes away changes your weekend.
Pay suppliers digitally and never visit a branch? Mettle is the better deal.
Your 24-month free period gives you time to build revenue before transaction fees apply. That matters for cash-constrained startups. After that, the Standard Tariff charges per item rather than a flat monthly fee.
When you deposit the week’s takings at the counter, that branch access is the one thing Mettle cannot replace.
Key Pros and Cons
- 24 months free banking for startups; 2 years for CASS switchers
- FreeAgent accounting software free for the lifetime of the account. Invoicing, VAT, MTD, and expense tracking included (1 transaction/month required to stay active).
- FSCS deposit protection up to £125,000. Full UK banking licence (PRA/FCA regulated).
- No monthly maintenance fee on Standard Tariff after free period
- Business overdraft and loans; asset finance and invoice finance available through NatWest group
- Branch access: RBS and NatWest branches plus Post Office counters
- Pay-as-you-go transaction fees after free period: 35p automated, 70p per £100 cash
- Branch network concentrated in Scotland; limited presence in England and Wales under the RBS name
- Cash handling charges apply from day one on deposits and withdrawals
- Digital experience behind app-based challengers like Starling and Mettle
- Account opening slower than app-based alternatives
- International transfers carry standard bank fees
Who RBS Is Best For
You should choose RBS if you’re a Scottish business that needs physical banking infrastructure. The 24-month free period gives you two years to establish revenue before Standard Tariff charges apply. More runway than most high-street competitors offer.
Your business will benefit most if you handle cash. If you’re a hospitality operator, market trader, or retailer, you need a counter you can walk to. The Post Office network extends that reach beyond dedicated RBS branches.
If you expect to need borrowing as you grow, opening your RBS account now means your relationship manager already knows your trading history. You’re not starting a lending conversation from scratch under cash flow pressure.
You should skip RBS if you’re based outside Scotland and want NatWest group banking. NatWest offers the same features with a wider branch network. If Scottish branch access isn’t critical, NatWest or Mettle serve you better.
Avoid RBS if you’re digital-first and pay suppliers via bank transfer without visiting branches. Mettle is permanently free with the same FreeAgent and FSCS protection.
Royal Bank of Scotland Business Account
RBS Account Eligibility and Application
Who Can Open a RBS Account
You can open an RBS account as a sole trader, limited company, partnership, or LLP. We confirmed current eligibility criteria from rbs.co.uk in April 2026. Verify requirements before applying. Eligibility can change.
The Startup Account is available if you’ve been trading under a year with annual turnover below £1 million. CASS switchers with turnover under £2 million get the same 2-year free period.
Your deposits are protected: RBS is PRA-authorised and FCA-regulated. We verified this from the FCA Financial Services Register in April 2026.
Your deposits are FSCS-protected up to £125,000 per eligible depositor: the statutory deposit guarantee. If you hold accounts with both RBS and NatWest, check the FSCS rules on combined balances within the same group.
What You Need to Apply
You can apply online or in branch. The online route works through identity verification, business details, and account setup. Account opening typically takes longer than app-based challengers like Starling or Mettle. If you need an account open quickly, budget for several days’ processing time at minimum.
Prepare company formation documents, identity verification for directors and owners, and your business address confirmation. If your business structure involves multiple directors or a non-standard legal form, branch application may be more straightforward than the online route.
Verify current document requirements at rbs.co.uk before you start. Don’t rely on third-party summaries for the current criteria. Onboarding requirements differ by business type and application route.
If you receive your account details more than a week after applying, that delay can affect supplier payment schedules. Account opening at RBS takes longer than app-based alternatives, so factor that into your cash flow if you need banking fast.
RBS Account Fees and Pricing
Monthly Fees and Plan Options
You get 24 months free banking as a new business trading under a year with turnover below £1 million. CASS switchers with turnover under £2 million also qualify for two years free. Confirm current eligibility at rbs.co.uk. Conditions apply.
After the free period, you move to the Standard Tariff with no monthly maintenance fee. Instead, you pay per transaction. We confirmed this structure from the RBS Standard Tariff document at rbs.co.uk, April 2026.
Your costs depend on transaction volume. A digital operation making 10 electronic transfers a month pays £3.50 in fees, while the same business handling £2,000 in weekly cash adds £14 per deposit.
At 50 transfers per month, the pay-as-you-go tariff costs £17.50. Worth comparing against a flat-fee account if your volume is higher.
| Fee Type | RBS | NatWest | Mettle (digital) |
|---|---|---|---|
| Monthly account fee | None (pay-as-you-go after free period) | None (pay-as-you-go after free period) | Free |
| Free banking period | 24 months (startups); 2 years (CASS switchers) | 24 months (startups); 2 years (CASS switchers) | No free period needed |
| FreeAgent included | Yes, free for life of account | Yes, free for life of account | Yes, free permanently |
| FSCS protection | £125,000 | £125,000 | FSCS-protected (PrePay Technologies) |
Transaction Fees and Charges
Automated payments (in and out) cost 35p per item. Cash payments (in and out) cost 70p per £100. Manual transactions cost 70p per item. We confirmed these rates from the RBS Standard Tariff document in April 2026.
Your cash deposits incur the highest fees. Bring £800 in notes to the counter on Monday, and £5.60 in deposit charges hits your statement. Do that every week and you pay nearly £300 annually in handling charges alone.
If you only use electronic transfers, your costs are lower. Automated transfers cost 35p per item on the Standard Tariff. BACS batch payers need to factor in the per-item charge on every payment run.
| Transaction Type | Fee |
|---|---|
| Automated payments (in or out) | 35p per item |
| Cash payments (in or out) | 70p per £100 |
| Manual payments (in or out) | 70p per item |
RBS Features and Business Banking Tools
Invoicing and Expense Management
We found the FreeAgent subscription is the headline feature and the main reason to choose RBS over Barclays or Lloyds at the same stage. FreeAgent covers invoicing, expense tracking, VAT returns, Making Tax Digital submissions, and payroll at no extra cost for the life of your RBS account.
You must complete at least one transaction per month to keep FreeAgent active. If you miss a month (a quiet project, no account activity), your FreeAgent access suspends. If your VAT quarter-end falls in that window, you’re filing manually.
We checked FreeAgent’s standalone pricing: it would cost £10–£19 per month separately. Combined with RBS’s pay-as-you-go model, you get banking and accounting software for under £5 a month after your free period ends.
Integrations and Accounting Software
If you choose RBS, FreeAgent is your primary integration. We confirmed transactions flow automatically from your RBS account into FreeAgent without manual exports.
You can also use Open Banking connections for Xero, QuickBooks, and other tools. If your accountant already uses Xero, Open Banking lets you keep your existing workflow intact.
If FreeAgent fits your workflow, it’s fully integrated and free. If it doesn’t, other tools connect via Open Banking but aren’t bundled. In that case, Starling or Mettle become more competitive.
RBS Card Usage and Payments
Spending, Transfers and Limits
Your card purchases are free. Automated electronic transfers cost 35p per item on the Standard Tariff. The Visa debit card has no per-transaction fee.
You can access overdrafts, business loans, asset finance, and invoice finance: a key differentiator versus app-only accounts. Limits depend on credit assessment, but having your banking history already with RBS changes that conversation when cash flow tightens.
We confirmed Post Office counter access covers cash deposits and withdrawals if an RBS branch has closed in your Scottish town. This is a physical counter you can use, not a digital workaround.
Overseas Payments and FX Fees
You should use Wise Business instead if you regularly send international transfers. RBS charges standard bank fees with RBS’s exchange rate applied. Wise applies the mid-market rate with fees from around 0.43%. Airwallex offers multi-currency accounts with competitive conversion rates. Both work alongside an RBS main account.
RBS Customer Reviews and Ratings
When evaluating RBS, you should know it shares the same service infrastructure, complaint resolution teams, and KYC review processes as NatWest. No standalone RBS Trustpilot score could be verified in April 2026.
You should know that NatWest (which shares the same operations as RBS) holds a 1.4/5 Trustpilot rating from over 8,100 reviews. That is one of the lowest ratings in UK business banking.
You should be aware of account restriction delays and slow KYC resolution. If your account is flagged at a critical moment, you’re in the same queue as any other NatWest Group customer.
If you choose Mettle instead (same group), it holds substantially higher ratings. This suggests product-specific friction, not group-wide failure.
If your account is restricted when you need to pay a supplier or meet a payroll deadline, the resolution process runs through the same NatWest Group customer service queue. Budget for that timeline before it becomes urgent.
FAQs
Is RBS the same as NatWest?
RBS and NatWest are both part of NatWest Group plc. They offer the same business banking products, the same Standard Tariff pricing, and the same FreeAgent deal. The practical difference is geography: RBS has its branch network primarily in Scotland; NatWest operates across England and Wales. If you’re based in Scotland and want local branches, RBS is the right choice. Outside Scotland, NatWest is the equivalent product.
How long is the free banking period for RBS?
The Startup Account offers 24 months of free banking for businesses trading under a year with annual turnover below £1 million. Businesses switching via CASS with turnover under £2 million also qualify for two years free. We confirmed these terms from rbs.co.uk in April 2026. Verify current eligibility at rbs.co.uk before applying.
Is my money protected with RBS?
Yes. Eligible deposits are FSCS-protected up to £125,000 per eligible depositor per banking licence. RBS is authorised by the PRA and regulated by the FCA and PRA. This is full statutory deposit protection, not e-money safeguarding. Confirmed from rbs.co.uk and the FCA Financial Services Register, April 2026.
Does RBS include FreeAgent with its business account?
Yes. FreeAgent is included for free for the lifetime of your RBS business account. The subscription covers invoicing, VAT returns, Making Tax Digital submissions, and expense tracking. One condition: at least one transaction per month is required to keep the subscription active. Confirmed from rbs.co.uk, April 2026.
What happens to RBS fees after the free period ends?
After the free period, you move to the Standard Tariff. There is no monthly maintenance fee. Instead, you pay per transaction: 35p for automated payments, 70p per £100 for cash, and 70p for manual transactions. Confirmed from the RBS Standard Tariff document at rbs.co.uk, April 2026.
Can I use an RBS account if I’m outside Scotland?
You can open an RBS account if you meet the eligibility criteria, but the branch network is concentrated in Scotland. If you’re based in England or Wales and want NatWest group banking with local branches, NatWest is the more practical choice: same product, same pricing, wider reach. RBS account holders can also access NatWest branches and Post Office counters for cash transactions.