If you’re a business owner looking to open a bank account instantly, you’ll need to choose wisely. We’ll cover the best banks known for their quick account opening processes, focusing on those that require minimal paperwork.
These are typically challenger banks, which enable quicker account openings through more efficient identity verification and risk assessment processes compared to traditional high street banks.
Overall, my analysis showed Tide to be the quickest business account to open: 53% opened new accounts in under 10 minutes, 70% in under 60 minutes, and 81% within 48 hours, according to the bank’s own data.
The Fastest Business Bank Accounts to Open in the UK
| Bank | Free Account Option? | Overdraft Available? | Speed | Visit |
|---|---|---|---|---|
| Tide | Yes | No | 10 minutes (in over 50% of cases) | Visit Site |
| Zempler Bank | Yes | Yes | Within 1 day | Visit Site |
| Revolut | Yes | No | 10 minutes – 1 day | Visit Site |
| ANNA Money | No | No | Less than 3 minutes | Visit Site |
| Wise for Business | Yes | No | 1-2 days | Visit Site |
| Countingup | No | No | 5 minutes | Visit Site |
| Mettle | Yes | No | In minutes | Visit Site |
| Starling Bank | Yes | Yes | Within 1 day | Visit Site |
Tide
Tide offers a range of highly rated no-monthly-cost current accounts that offer accounting integration, invoicing capabilities directly from the app, and expense Cards. As businesses grow, Tide’s Plus or Premium memberships offer enhanced support and exclusive perks for £9.99 or £18.99 per month.
The rapid account opening process, coupled with features such as auto-categorisation of transactions, easy expense management, seamless sync with accountancy software, and direct invoice management within the app, underscores Tide’s value proposition.
Time Required to Open an Account
Opening an account with Tide is remarkably swift: 53% of users can do so in under 10 minutes, 70% in less than an hour, and 81% within 48 hours.
£50 cashback with promo code EXPERT£50
Tide Free Business Account
Monthly Fee
£0Bank Transfers
20pCard Purchases
£0Overdraft
NoFSCS Protection
YesAccessibility
Access your Tide account via the web or the mobile app
– You must be at least 18 years old.
– You must have a valid UK phone number.
– You must have a device that can access the UK Apple App Store or Google Play Store.
– You must be either the director of an active company registered with UK Companies House or a sole trader/freelancer registered with HMRC.
– Charities/trusts and other high-risk industries are not eligible.
– Businesses operating from outside the UK are excluded.
Zempler Bank
Zempler Bank (formerly known as Cashplus) offers a reliable, FSCS-protected banking solution without the necessity for credit checks. Known for its rapid account setup, Zempler Bank continues to gain traction in the UK’s SME sector.
There are both free and premium accounts, integration with major accounting software like QuickBooks, Xero, and FreeAgent, and a Mastercard debit card for convenient transactions. The Extra account also adds in free ATM withdrawals both in the UK and abroad, plus 0.5 cashback on card spend, and twenty free transfers a month.
Time Required to Open an Account
Zempler Bank claims that most customers, 98.45%, get their account number and can start using their account on the same day.
No annual fee
Zempler Bank Business Go Account
Monthly Fee
£0Bank Transfers
30p
Card Purchases
£0Overdraft
YesFSCS Protection
NoAccessibility
Access your Zempler Bank account via the web or the mobile app
– You must be at least 18 years old and have a UK residential address.
– You must be a sole trader, director of a limited company, a charity or a partnership based in the UK.
– Sole traders cannot be registered at UK Companies House. Limited companies must have no more than 4 PSCs registered with Companies House.
– High-risk organisations are not eligible.
– Businesses operating from outside the UK are excluded.
Revolut Business
Revolut Business is a comprehensive platform offering global payments, multi-currency accounts, and smart spending solutions for businesses of all sizes. It supports transactions in over 100 countries and 25+ currencies, making it ideal for companies operating internationally. With features like instant supplier payments, competitive currency exchange rates, and seamless accounting software integration, Revolut Business simplifies financial management and reduces costs.
Security is paramount, with advanced protection for business finances, and the platform provides immediate access to funds and real-time financial control through both physical and virtual cards. Revolut Business also offers unique tools like Tap to Pay on iPhone, allowing for easy in-person payments without extra hardware. Tailored for freelancers, startups, and large enterprises, Revolut Business delivers a flexible and efficient banking alternative, designed to scale with your company’s growth.
Time Required to Open an Account
You can open a Revolut Business account quickly in about 10 minutes – just fill out a short form. Revolut will then need to review your business account application and start the on-boarding process, a process which usually happens within 24 hours from the point of application.
Revolut Business Basic Account
Monthly Fee
£0Bank Transfers
20p
Card Purchases
£0Overdraft
NoFSCS Protection
NoAccessibility
Access your Revolut account via the web or mobile app
– You must be at least 18 years old.
– Your business must have a physical presence in the UK, EEA or Switzerland.
– You must be a private limited company, public limited company, Limited Liability partnership or partnership.
– Charities/trusts and other high-risk organisations are not eligible.
– Businesses operating from outside the supported countries are excluded.
ANNA Money
ANNA Money provides a business account that combines traditional banking features with additional tools to assist with business management and growth. It streamlines administrative tasks, offering functionalities like tax calculations, invoice management, and expense tracking.
The platform is designed to simplify business administration. It automatically handles invoices, tracks expenses, and assists with VAT and tax responsibilities. Support is available around the clock through chat in the ANNA app, ensuring assistance is readily accessible.
For businesses requiring mobility, ANNA offers a solution to manage finances on the go. It also provides a suite of features for comprehensive business accounting management, including VAT registration and tax filing. With invoicing software and a receipt scanner, ANNA aims to reduce the administrative load on business owners.
Time Required to Open an Account
Opening an ANNA account is straightforward, taking approximately 3 minutes, and customers typically receive their ANNA Mastercard within 5 working days.
ANNA Money Pay as You Go Account
Monthly Fee
£0Bank Transfers
20pCard Purchases
£0Overdraft
NoFSCS Protection
NoApp Access
Access your ANNA Money account via the web or the mobile app
– You must be at least 18 years old.
– You must be a sole trader, a director of a limited company (and listed on Companies House) or a partner in a Limited Liability Partnership (LLP).
– You must have a UK residential address.
– Charities/trusts and other high-risk businesses are not eligible.
– Businesses not based in the UK are excluded.
Wise for Business
Wise Business provides an international business account designed to facilitate fast and cost-effective global transactions. It allows businesses to set up local account details in 9 currencies, enabling overseas customers to pay as if they were local. This service is trusted by over 30,000 businesses for managing Amazon earnings and supports payments in over 70 countries without hidden fees or exchange rate markups.
Wise Business is recognized as an authorized financial services provider and safeguards funds in compliance with FCA regulations. It offers a business debit card that operates globally without foreign transaction fees, complemented by a 0.5% cashback on spending. Additionally, Wise integrates with popular accounting software like Xero, QuickBooks, and FreeAgent to streamline administrative tasks.
The account also features innovative financial tools such as the ability to earn interest on your money, batch payments for up to 1,000 people, and customizable team access to accounts. Wise Business emphasizes security with dedicated fraud protection, 2-factor authentication, and partnerships with established financial institutions.
Time Required to Open an Account
To open a Wise business account, verification is required, typically involving photo ID, proof of address, and a photo of you holding your ID. This process generally completes within 2 working days. Simply log in and follow the on-screen instructions to set up your account.
Wise Business Account
Monthly Fee
£0Bank Transfers
VariableCard Purchases
VariableOverdraft
NoFSCS Protection
NoAccessibility
Access your Wise account via the web or mobile app
– You must be 18 years of age or older.
– Almost all businesses are eligible, but you must provide proof of address for the account representative.
– Your business must operate within the supported countries.
– High-risk companies and charities/trusts operating outside certain countries are not eligible.
CountingUp
CountingUp offers a business banking solution integrated with accounting software, tailored for sole traders and limited companies in the UK. With a focus on simplifying financial administration, CountingUp automates bookkeeping and tax tasks directly through its app. Users can quickly create and send professional invoices, capture receipts, and gain real-time insights into their business finances, including profit and loss reports, tax estimates, and invoice management.
With a trial period offering no subscription fees for the first three months, CountingUp presents a cost-effective entry point to business banks. After the trial, pricing is tiered based on monthly deposit amounts, making it scalable for businesses of different sizes. This approach, combined with features like real-time profit and loss reporting and the ability to easily share data with accountants, positions CountingUp as a valuable tool for over 50,000 UK businesses looking for an all-in-one banking and accounting solution.
Time Required to Open an Account
CountingUp allows you to open a business account quickly using your smartphone, typically in under 5 minutes. Simply provide a valid UK phone number to get a link, download the CountingUp app, and complete your account setup. You’ll immediately receive your account number, sort code, and a contactless debit Mastercard.
Get started with three months free
Counting Up Tier 1 Business Account
Monthly Fee
£3Bank Transfers
30pCard Purchases
£0Overdraft
NoFSCS Protection
NoApp Access
You can access your Countingup account via the web or the mobile app
– You must be at least 18 years old.
– You must be either a sole trader or the director of a limited company.
– You must be a UK resident.
– Other business types are not eligible.
– Businesses operating outside the UK are excluded.
FSCS Protection: No, Countingup is not FSCS protected.
Trustpilot Score: 2,342 Reviews with an average rating of 4.4/5.
Mettle
Mettle offers a business banking solution tailored for sole traders and limited companies with up to two owners, designed to support the self-employed and small businesses. Trusted by over 100,000 users, Mettle combines banking with built-in features to simplify financial management.
Customers can earn interest on savings with a savings pot, offering a competitive rate on balances starting from as little as £10, with a maximum balance limit of £1 million. Mettle also streamlines the payment process, enabling users to manage their entire payment cycle from invoicing to reconciliation directly from their mobile device. This includes creating and sending customised invoices on the go, tracking payments, and receiving instant payment notifications.
Mettle comes with FreeAgent accounting software integration, helping businesses with bookkeeping and tax calculations, providing insights into how much tax is owed and when it’s due. Users can also set money aside for taxes automatically into a Tax Pot.
As part of NatWest, Mettle assures customers of reliable support, secure banking, and protection for eligible funds up to £85,000 by the Financial Services Compensation Scheme (FSCS).
Time Required to Open an Account
Completing the application process to ope an account with Mettle can be accomplished “in minutes,” according to their website. They aim to complete the review of all applications within 72 hours (excluding weekends).
Mettle Business Bank Account
Monthly Fee
£0Bank Transfers
£0Card Purchases
£0Overdraft
NoFSCS Protection
YesAccessibility
Access your Mettle account via the web or mobile app
– You must be a UK resident and at least 18 years of age.
– You must be a sole trader or a limited company with a maximum of two owners.
– You must have a main account balance not exceeding £1m.
– You must have a UK phone number.
– You must have an iOS device running iOS 13 or later or an Android device running Android 7.0 or later.
– You must pay tax and only be a tax resident in the UK.
– Businesses operating from outside the UK are excluded.
– PLCs, charities and high-risk organisations are not eligible.
Starling Bank
Starling Bank offers an award-winning business current account designed for both sole traders and limited companies in the UK. The account is free to open and maintain, with no monthly fees or UK payment charges, appealing to over 500,000 businesses looking for an efficient banking solution.
Features of the Starling business account include a Mastercard debit card, 24/7 UK-based support, and full FSCS protection up to £85,000. The account integrates seamlessly with major accounting software like Xero, QuickBooks, and FreeAgent, facilitating automated spending categorization, receipt capture, and comprehensive financial management directly from the app.
Starling promotes less administrative hassle and more control over your business finances, offering features such as easy in-app application, free ATM withdrawals, no fees abroad, and instant payment notifications. Additionally, businesses can earn interest on savings and deposit cash at the Post Office, enhancing the banking experience.
Time Required to Open an Account
Opening a Starling business account is remarkably swift for the majority of applicants. Starling provides an account number and enables account usage for:
- 94% of customers on the same day;
- On average, within 1 day;
- And for 99% of customers within 4 days.
This timeline is contingent upon Starling receiving all the necessary information and documents upfront, assuming no additional details are required to open the account.
Starling Bank Business Current Account
Monthly Fee
£0Bank Transfers
£0Card Purchases
£0Overdraft
Yes
FSCS Protection
YesAccessibility
Access your Starling Bank account via the web or mobile app
– All directors with access to the account must be at least 16 years old and UK residents.
– All Persons of Significant Control must be UK residents and natural persons.
– You must be either a sole trader or the director of a limited company or LLP registered with Companies House.
– The business must not be a holding company, dissolved, or in liquidation.
– Businesses operating from outside the UK are excluded.
– Charities/trusts and high-risk businesses are not eligible.
Are there any Instant Business Bank Accounts in the UK?
No, there are no strictly instant business bank accounts in the UK, as all financial institutions, including challenger banks and e-money fintechs, are required to conduct Know Your Customer (KYC) checks. However, some banks allow you to open an account almost instantly, typically within around 10 minutes, provided you pass their verification processes quickly. Examples of these include Tide, Zempler Bank, and ANNA Money.
What is a Same-day Business Bank Account?
A same-day business bank account refers to a banking service that allows business owners to apply for and gain access to banking features such as an account number and sort code on the same day they apply. This expedited process is often facilitated by digital or challenger banks, which leverage online verification and processing to speed up the account opening procedures. Examples include Tide, Starling, Anna, Revout and Zempler Bank in the UK.
