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 Smart at £12.49/month lifts the free-transfer allowance to 30 a month, though on transfer fees alone it never undercuts the free plan. We rate it the strongest all-in-one digital account.
Get £200 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.
Get Starling’s £0-fee accountBest for International Payments
Revolut wins for multi-currency operations: hold GBP, EUR, USD in one account with interbank FX. Basic costs £10/month with 10 free UK payments, then 20p each.
Grow removes per-transfer fees and adds higher FX allowances, at £35/month billed monthly or an effective £30/month if you pay £360 for the year. We rate it best if you run 10+ international transfers monthly, and only worth pre-paying if you are sure you will stay.
Get £100 bonusBest for Opening Without a Credit Check
Zempler runs no credit check to open, and it does that while holding a full UK banking licence, so deposits sit under the statutory FSCS guarantee up to £120,000.
For a business with a CCJ or a thin file that the high street keeps turning away, that combination is genuinely hard to find elsewhere.
One thing to be clear about, because Zempler is often sold on it: the account pays no interest on your balance.
Its 0.5% savings pot sits on the £19-a-month Business Pro plan only, so if earning on cash is your aim, a dedicated business savings account will beat it comfortably. Verified against zemplerbank.com, 3 August 2026.
Open a Zempler accountWhich online-only business account is best for you?
The right account depends on your payment volume, how often you handle cash, what you need from accounting, and how much FSCS protection matters given your typical working balance. Use the grid below to find your fit, then follow the specialist guide for your situation.
| Your priority | Best pick | Why |
|---|---|---|
| Zero monthly cost, any UK payment volume | Starling | No fee, no per-transaction charge, UK banking licence, FSCS-protected |
| Feature-rich at zero cost: invoicing, receipt capture, accounting | Tide | Broadest free admin feature set; FSCS-protected via ClearBank |
| International payments and multi-currency | Revolut | Interbank FX inside monthly allowance; UK banking licence |
| Opening without a credit check | Zempler | No credit check to open; FSCS-protected on its own UK banking licence; built-in MTD tools |
| Accounting and MTD tools built in (no third-party subscription) | Zempler or CountingUp | Native bookkeeping, invoicing and tax tools in the account itself |
| Free FreeAgent subscription included | Mettle | NatWest-backed, FSCS-protected; sole traders and single-director LTDs only |
| High UK payment volume (>68/month) at zero cost | Starling | No per-transfer charge at any volume; no paid tier required |
| Switching from a traditional bank via CASS | Starling, Monzo or Tide | Full CASS participation; 7-working-day automated switch. Revolut Business is not on CASS, so that move is manual |
| Heavy daily cash deposits | Traditional bank primary + any online-only secondary | Online-only cash fees exceed high-street fees above ~£3,500/month; see cash handling below |
| Verified July 2026. | ||
More decision detail by business type: best accounts for sole traders · best start-up bank accounts · best for international payments · best for accounting integrations.
A 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 July 2026.
| Provider | UK transfer (100/mo) | FX markup | Paid tier |
|---|---|---|---|
| Starling | Free (£0) | ~0.5% (Wise rails) | None |
| Tide Free | 5 free, then 20p (£19) | ~0.5% (Wise rails) | Smart £12.49 (30 free transfers/mo) |
| Revolut Basic | 10 free, then 20p (£18) | 0.4% to 1% | Grow £35/mo (£30/mo paid annually) |
| 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 |
| Verified July 2026. | |||
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 Smart 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 accepts cash at PayPoint at 3% of the deposit; Monzo at £1 per deposit. Starling uses the Post Office network at 0.7% of the deposit (minimum £3). 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%, minimum £3 per deposit), 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 how the app feels to use day to day, Starling tightest on the banking basics, and Tide broadest on business features. Revolut packs in the most, which is exactly what makes it heavy going if all you need is an account that pays people.
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; eligible deposits are FSCS-protected up to £120,000. Revolut holds a UK banking licence and is migrating accounts to the FSCS-covered entity: check in-app to see which entity holds your money.
Tide holds an e-money licence but accounts are held at ClearBank (a UK bank), so Tide balances are also FSCS-protected up to £120,000. ANNA and CountingUp hold e-money licences; funds are safeguarded but do not carry the FSCS guarantee.
The practical difference matters if a provider fails: safeguarding returns your balance from the ring-fenced pool, but without the government guarantee or the statutory seven-working-day payout that FSCS provides. See our guides to bank accounts vs e-money accounts and FSCS vs safeguarding.
Accounting and Making Tax Digital
Making Tax Digital for Income Tax (MTD for IT) is now mandatory for qualifying sole traders and landlords with annual income over £50,000, from 6 April 2026. The threshold drops to £30,000 from April 2027 and £20,000 from April 2028. Your bank account choice affects how you meet this requirement.
If you already use Xero, QuickBooks, or FreeAgent, what you need is a solid bank feed and reliable sync. If you want to ditch the accounting subscription altogether, you need an account with bookkeeping built in.
| Provider | Built-in bookkeeping | Native invoicing | Key integrations | MTD for IT |
|---|---|---|---|---|
| Starling | Spending categorisation | Free | Xero, QuickBooks, FreeAgent | Via integrations |
| Tide | Categorisation & receipt scanning | Free | Xero, QuickBooks, FreeAgent, Sage | Via integrations |
| Monzo | Categorisation (Lite) | Pro plan (£9/month) | Xero, QuickBooks (Pro plan) | Via integrations |
| Revolut | Spending analysis | No | Xero, QuickBooks, FreeAgent | Via integrations |
| Zempler | Yes, built in | Yes, built in | Built-in MTD tools | Built in |
| Mettle | Categorisation | Basic (built in) | FreeAgent (free subscription) | Via FreeAgent |
| ANNA | Yes, built in | Yes, built in | CSV export | Via built-in tools |
| CountingUp | Yes, built in | Yes, built in | Built-in bookkeeping | Via built-in tools |
| Verified July 2026. | ||||
If your books run on Xero, QuickBooks, or FreeAgent, Tide or Starling give the deepest native connections at no extra cost.
If you want to ditch a separate bookkeeping subscription, Zempler or CountingUp log receipts, calculate tax estimates, and raise invoices from within the account, saving you a £10–25/month app fee.
Mettle’s free FreeAgent subscription is the standout deal for qualifying FreeAgent users (sole traders and single-director LTDs only).
MTD for IT does not currently apply to limited companies in the same way; check with your accountant before choosing an account on MTD grounds alone.
Full comparison: best business accounts for accounting software.
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 68 outgoing payments a month: Starling free or Tide (5 free a month, then 20p each). 68–100: Tide Smart at £12.49/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 without a third-party app: ANNA or CountingUp.
Full comparison: best accounts for accounting integrations.
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, Tide, and Zempler participate in the Current Account Switch Service: direct debits, standing orders, and incoming payments migrate within seven working days.
Mettle, ANNA, Counting Up and Revolut do not, so you migrate mandates by hand.
Revolut is the one that trips people up. It is a CASS member for personal current accounts; the business product sits outside the scheme.
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
A full CASS switch closes the old account for you, so there is no parallel window to keep. If you migrate manually instead, keep the old account open for 30–60 days: occasional direct debits trigger late, and some clients take weeks to update vendor records.
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?
Several are FSCS-protected, but the cover varies by provider. Starling, Monzo, Mettle, and Zempler are authorised UK banks; eligible deposits are FSCS-protected up to £120,000. Tide is not a bank itself but holds accounts at ClearBank, which is a UK bank, so Tide balances are also FSCS-protected up to £120,000. Revolut holds a UK banking licence and is migrating accounts to its bank entity; FSCS protection applies once your account sits on Revolut Bank UK; check your in-app terms to see which entity holds your money. ANNA and CountingUp hold e-money licences; funds are safeguarded in ring-fenced accounts but do not carry the statutory FSCS guarantee. See our guide to bank accounts vs e-money accounts and FSCS vs safeguarding for detail.
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 publishes overdraft terms but has paused new applications, so it is not a route to one today. Monzo still lends to sole traders, up to £3,000. Revolut, ANNA, Mettle, and Counting Up do not offer business lending. If you need an overdraft or term loan built into your banking, a traditional bank is the realistic option.
How do you deposit cash with an online-only business account?
Tide accepts cash deposits via PayPoint at 3% of the deposit; Monzo charges £1 per deposit. Starling uses the Post Office network at 0.7% of the deposit amount (minimum £3). 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.
Can I switch to an online-only business bank account using CASS?
Yes, if you choose a provider that participates in the Current Account Switch Service. Starling, Monzo, Tide, and Zempler all support CASS: direct debits, standing orders, and incoming payments migrate automatically within seven working days. Mettle, ANNA, and CountingUp do not participate; you migrate payment mandates manually, which takes 2–4 hours of admin. On a manual move, keep the old account open for 30–60 days to catch any stragglers. A full CASS switch closes it for you.
How we reviewed Best Online-Only Business Bank Accounts
Ranking criteria. We scored eight providers on five factors: real monthly cost at typical transaction volumes (not headline pricing), cash deposit access and fee, FSCS protection or safeguarding status, accounting integration depth, and app support quality.
Cost and protection carry the heaviest weight because they apply across every business type. Features like invoicing and receipt scanning break ties where cost is similar.
What we checked. We reviewed each provider’s published pricing and terms, cross-checked regulatory and FSCS status on the FCA register, and traced each provider’s in-app cash deposit flow to verify routes and fees. Pricing and terms verified July 2026.
What we did not do. We did not independently test every feature on every plan, or contact each provider’s business support team as a formal test.
App quality ratings reflect published survey data (Ipsos 2026 service survey) and publicly verifiable in-app features, not our own simulated support interactions.
Update cadence. We re-verify pricing, eligibility, and regulatory status whenever a provider announces a change, and carry out a full check at least every six months. The verification date at the top of this page reflects the most recent full review.
Commercial disclosure. Some providers on this page are affiliate partners of BusinessExpert. We may earn a commission if you open an account via a link on this page.
This does not affect our rankings, our verdicts, or any editorial judgement on this page. See our editorial policy for the full disclosure.