- No Credit Checks Needed
- No Branch Visits or Signatures Needed
- Online Banking, phone and SMS available
- Can withdraw money via any Barclays Bank, an pay in via the Post Office
- Functionalities are very basic without unique features
- Opening a new account comes with a £60 fee
- The monthly account fee is quite high
- Operations are not FSCS protected
- Most services come with small fees which will soon add up
- Multi-currency account with local details in 12 markets
- Collect and settle payments with competitive FX rates
- Issue virtual company and employee cards
- Integrate with accounting tools and marketplaces
- Limited Physical Presence
- Service Availability in Some Countries
Eligibility Criteria
- You must be over 18 years old
- You must be a business operating within one of the supported countries/regions
- Your business must be registered and have a physical address.
- Charities and other high-risk organisations are not eligible
FSCS Protection: Yes, Airwallex is FSCS Protected
Trustpilot Score: 1,053 Reviews with an average rating of 3.7/5
- Instant invoice generation
- Good customer service via live chat
- Xero integration
- Easy VAT submission to HMRC via app
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts
Eligibility Criteria
- 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.
FSCS Protection: No, ANNA is not FSCS Protected.
Trustpilot Score: 2,896 Reviews with an average rating of 4.6/5
- Instant Invoice Generation
- Good customer service via Live Chat
- Xero Integration
- Easy VAT submission to HMRC via App
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts but not a credit check
Eligibility Criteria
You need a UK residential address to open an account. This account isn’t open to charities.
- Instant invoice generation
- Good customer service via live chat
- Xero integration
- Easy VAT submission to HMRC via app
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts
Eligibility Criteria
- 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.
FSCS Protection: No, ANNA is not FSCS Protected.
Trustpilot Score: 2,896 Reviews with an average rating of 4.6/5
- Instant Invoice Generation
- Good customer service via Live Chat
- Xero Integration
- Easy VAT submission to HMRC via App
- To open a business account, you’ll need a photo of your full driving licence or a photo of your valid passport.
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts but not a credit check
Eligibility Criteria
You need a UK residential address to open an account. This account isn’t open to charities.
- Instant invoice generation
- Good customer service via live chat
- Xero integration
- Easy VAT submission to HMRC via app
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts
Eligibility Criteria
- 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.
FSCS Protection: No, ANNA is not FSCS Protected.
Trustpilot Score: 2,896 Reviews with an average rating of 4.6/5
- Instant Invoice Generation
- Good customer service via Live Chat
- Xero Integration
- Easy VAT submission to HMRC via App
- To open a business account, you’ll need a photo of your full driving licence or a photo of your valid passport.
- You can apply from outside the UK, but only if you’re a UK resident
- Anna carry out an identity check for new acccounts but not a credit check
Eligibility Criteria
You need a UK residential address to open an account. This account isn’t open to charities.
- No credit check
- Speedy Application
- Cashback rewards programme
- No charges for failed payments
- UK Call centre
- Application fee is £55
- There isn’t any overdraft
- There is a minimum £12.50 per month account fee
- Withdrawals and transfers come with a cost
- No credit check
- Cashback rewards programme
- No charges for failed payments
- UK Call centre
- Application fee is £55
- There isn’t any overdraft
- There is a minimum £12.50 per month account fee
- Withdrawals and transfers come with a fee
Eligibility Criteria
- You must be at least 18 years of age.
- You must reside within the UK.
- Your business must be registered within the UK.
- Businesses operating outside the UK are excluded.
- Companies that are listed as directors are not eligible.
FSCS Protection: No, Card One Money is not FSCS Protected.
Trustpilot Score: 849 Reviews with an average rating of 4.5/5
- Business credit builder add-on
- Overdrafts of up to £2,000
- Pay in via any post office
- £2 ATM fee
- No physical branch
Eligibility Criteria
- You must be at least 18 years old.
- 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.
- You must have a UK residential address.
- High-risk organisations are not eligible.
- Businesses operating from outside the UK are excluded.
FSCS Protection: Yes, Cashplus is FSCS Protected
Trustpilot Score: 10,291 Reviews with an average rating of 3.6/5
- Free card issuing
- Affordable monthly fee
- Business credit builder add-On
- 0.5% cash deposit fee
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- 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.
- You must have a UK residential address.
- High-risk organisations are not eligible.
- Businesses operating from outside the UK are excluded.
FSCS Protection: Yes, Cashplus is FSCS Protected
Trustpilot Score: 10,291 Reviews with an average rating of 3.6/5
- Free Card Issuing
- Affordable Monthly Fee
- Business Credit Builder Add-On
- 0.5% Cash Deposit Fee
Eligibility Criteria
Your business must based in the UK. You’ll need verified ID such as passport or driving licence, the registration number of your company at Companies House and proof of business address.
- Business Credit Builder Add-On
- Overdrafts of up to 2k
- Pay in via any Post Office
- £9 monthly fee for Business Extra Account
- £2 ATM Use
Eligibility Criteria
Your business must based in the UK. You’ll need verified ID such as passport or driving licence, the registration number of your company at Companies House and proof of business address.
- Fast sign up
- Simple and streamlined
- Share data easily with your accountantant
- Not as comprehensive as some competitors
- No free account
- Not FCSC protected as it’s an e-money account
Eligibility Criteria
You can apply for an account if you are: a sole trader or the director of a limited company, at least 18 years old, and a UK resident.
- 3 months free trial
- Fast sign-up
- Simple and streamlined
- Share data easily with your accountant
- Not as comprehensive as some competitors
- No free account after 3 month trial has ended
- Not FSCS protected as it’s an e-money institution
Eligibility Criteria
- 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.
- Earn a solid rate of interest for a current account below £25,000 (2.50% AER)
- No monthly fee for 12 months and only £25pm after that
- Super-fast setup time (15 minutes)
- Accounting software integrations are available
- There is a monthly fee of £25 after the first 12 months
- Fees apply for cash, CHAPS, SWIFT, and SEPA transactions
- Cash deposits are only available at UK HSBC branches
Eligibility Criteria
- The business must be based in the UK and registered with Companies House if required.
- Eligible entities include sole traders, partnerships, limited liability partnerships, and limited companies.
- Businesses may have up to 10 named individuals, including partners, directors, and shareholders. Shareholders who own 10% or more of the business must be included.
- Charities or trusts are not eligible.
- Businesses not based in the UK are excluded.
FSCS Protection: Yes, Cynergy Bank is FSCS Protected
Trustpilot Score: 2,540 ratings with an average rating of 3.5/5
- Free banking for 12 months
- Overdraft facility
- 600 UK branches
- Easy Integration with accounting software like Xero, QuickBooks and Sage
- 24/7 online and mobile account management
- Foreign Currency Accounts
- A range of lending options
- Virtual assistant
- Cheque book on request
- Monthly fee (after 12 months) on all accounts
- Maximum turnover requirements on some HSBC accounts
- Support only operates within working hours
- You must be a sole trader or the sole director and shareholder of the company.
- You must be a tax resident in the UK (except Channel Islands and the Isle of Man).
- Your annual turnover must be under £6.5m.
- Businesses operating from outside the UK are excluded.
- High-risk organisations are not eligible.
FSCS Protection: Yes, HSBC is protected by the FSCS.
Trustpilot Score: 8,651 reviews with an average rating of 1.6/5
- Designed for small businesses
- Extensive credit facilities
- Very few fees for day-to-day usage
- Physical branches across the country
- No multi-user access
- No foreign currency accounts or holdings
- Lower customer review scores
Eligibility Criteria
- You must be at least 18 years of age and reside within the UK.
- You must be a sole trader or the sole director of a limited company operating within the UK.
- You must have an annual income of no more than £6.5m.
- Businesses operating from outside of the UK, within the Isle of Mann or the Channel Islands, are not eligible.
FSCS Protection: Yes, HSBC is FSCS Protected.
Trustpilot Score: 8,641 reviews with an average rating of 1.6/5
- Security and fraud prevention: FSCS-protected with additional security measures in place
- Integrating with existing or new accounting software
- Getting access to in-branch setup and support
- If the account balance drops below £6,000 there are additional monthly and transaction charges that apply
- No 24/7 customer support is available with Metro Bank (opening times for customer support are 8am-8pm)
- You can’t apply for this account if your business has more than £2mil turnover
Eligibility Criteria:
- You must be over 18 years’ old.
- Your business must not exceed £2mil for this account.
- You must be one of the following: sole trader, limited company, limited guarantee, or limited liability partnership.
- Charities or trusts are not eligible.
- Businesses not based in the UK are excluded.
FSCS Protection: Yes, Metro Bank is FSCS protected.
Trustpilot Score: 2,540 ratings with an average rating of 3.5/5
- Quick application process
- Free to join and use
- Issuing invoices is easy
- App includes expense management functionality
- Good integration with all major accountancy software providers
- If you lose your card, it’s simple to free it from within the APP.
- As an e-money account it’s not FSCS protected
- You can’t pay out more than £10,000 per day
- There isn’t any overdraft or credit card available
- Cheque deposits are not available
- International payments are not available
- Top-rated 24/7 support
- Budget and transaction categories to help manage spending habits
- Digital receipts for creating and storing important business information
- Basic version, fewer features than Pro
- No automatic allocation of funds to a “tax pot”
- No integration with accounting software like Quickbooks, Xero, or FreeAgent on Lite account
Eligibility Criteria
- You must be at least 16 years of age.
- You must be a sole trader or the director of a limited company registered with Companies House, you must be based in the UK.
- You must be a tax resident in the UK only.
- LLPs, PLCs, charities and high-risk organisations are not eligible.
- Businesses operating from outside the UK are excluded.
FSCS Protected: Yes, Monzo is protected by the FSCS.
Trustpilot Reviews: 32,061 reviews with an average rating of 3.9/5
- Built-in invoicing system
- Multi-user access
- Exclusive offers for your business
- No specific mention of perks for international transactions
- Multi-user access limited to Limited companies only
Eligibility Criteria
- You must be at least 16 years of age.
- You must be a sole trader or the director of a limited company registered with Companies House, you must be based in the UK.
- You must be a tax resident in the UK only.
- LLPs, PLCs, charities and high-risk organisations are not eligible.
- Businesses operating from outside the UK are excluded.
FSCS Protected: Yes, Monzo is protected by the FSCS.
Trustpilot Reviews: 32,061 reviews with an average rating of 3.9/5
- A range of options for different types and stages of businesss
- Access to 960 branches in the UK
- Dedicated Relationship Manager
- Overdraft and Credit Card Options
- No Minimum monthly charge
- Free Access to ‘Free Agent’ Accounting Software
- International banking comes with fees
- Customer Reviews are fairly mixed
- Unlimited team member imports
- Very high monthly fee
- Might be excessive for businesses not making a large number of transactions
- The cost might not justify the benefits for smaller businesses
- Unlimited team member imports
- high savings rates up to £2m
- Personal help with account management
- Very high monthly fee
- Excessive for businesses not making a large number of transactions
- The cost might not justify the benefits for smaller businesses
Eligibility Criteria
- You must be at least 18 years old.
- Your business must have a physical presence in the EEA and Switzerland.
- You must be a sole trader, freelancer, limited company, partnership, LLP or PLC.
- Charities/trusts and other high-risk organisations are not eligible.
- Businesses operating from outside the supported countries are excluded.
FSCS Protection: No, Revolut is not protected by the FSCS.
Trustpilot Score: 151,826 reviews with an average rating of 4.2/5
- Easy integration with Ecommerce via Apps and Plugins
- Send and receive money from 200 countries
- Block cards or set accounting limits with a tap
- Available for Limited Companies Only
- Accounts do not support cash or cheque deposit
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- Your business must have a physical presence in the EEA and Switzerland.
- You must be a sole trader, freelancer, limited company, partnership, LLP or PLC.
- Charities/trusts and other high-risk organisations are not eligible.
- Businesses operating from outside the supported countries are excluded.
FSCS Protection: No, Revolut is not protected by the FSCS.
Trustpilot Score: 151,826 reviews with an average rating of 4.2/5
- Ecommerce – Easy integration with Ecommerce via Apps and Plugins
- International payments – Send and receive money from 200 countries
- Block cards or set accounting limits with a tap
- Available for Limited Companies Only
- Accounts do not support cash or cheque deposit
- Upto £10k worth of FX-free transfers each month
- Limited number of free international transfers
- Limited to 10 free team member onboards
Eligibility Criteria
Your business must have a physical presence in the EEA and Switzerland. Account works for sole traders, freelancers, limited companies, partnerships, LLPs and PLCs.
- 100 free local transfers per month
- £10k of international transfers at the interbank rate each month
- complimentary metal card
- Limited number of free international transfers
- Limited to 10 free team member onboards
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- Your business must have a physical presence in the EEA and Switzerland.
- You must be a sole trader, freelancer, limited company, partnership, LLP or PLC.
- Charities/trusts and other high-risk organisations are not eligible.
- Businesses operating from outside the supported countries are excluded.
FSCS Protection: No, Revolut is not protected by the FSCS.
Trustpilot Score: 151,826 reviews with an average rating of 4.2/5
- Large number of free local and international transfers
- FX-free allocation threshold increases from £10k to £50k
- Ability to import 30 team members
- Still a limit on the number of free international transfers
- Could be more than needed for smaller businesses
Eligibility Criteria
Your business must have a physical presence in the EEA and Switzerland. Account works for sole traders, freelancers, limited companies, partnerships, LLPs and PLCs.
- 1,000 fee-free local transfers
- £50k of international transfers at the interbank rate per month
- Ability to import 30 team members
- Limited fee-free international transfers
- Price could not be worth the benefits for small businesses
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- Your business must have a physical presence in the EEA and Switzerland.
- You must be a sole trader, freelancer, limited company, partnership, LLP or PLC.
- Charities/trusts and other high-risk organisations are not eligible.
- Businesses operating from outside the supported countries are excluded.
FSCS Protection: No, Revolut is not protected by the FSCS.
Trustpilot Score: 151,826 reviews with an average rating of 4.2/5
- Fast account set-up
- No monthly fees or fees overseas
- Integrations with Quickbooks, Xero & FreeAgent
- Fully regulated and FSCS protected
- Phone and App based customer service 24/7
- Pay Cash in via Post Office
- Euro and Dollar accounts are available
- There isn’t any overdraft facility
- There are no branches
- Starling charges for paying in money
- You can’t earn interest
- Depositing cash comes with a fee
Eligibility Criteria
All directors with access to the account must be UK residents. The business must not be a holding company, dissolved, in liquidation or engage in any activities set out in our terms and conditions. Evidence of your trading activities so we understand that your business does what you say it does. We can’t accept Companies House documents for this. Credit Checks May Apply
- One of the best apps in the sector
- 0.5% Cashback
- 24/7 legal helpline
- Monthly Fee
- ATM withdrawals cost £1
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- You must have a UK residential address.
- You must be 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.
FSCS Protection: Yes, Tide is FSCS protected.
Trustpilot Score: 19,375 Reviews with an average rating of 4.1/5
- One of the best Apps in the sector
- 0.5% Cashback
- 24/7 Legal Helpline
- Post Office Deposits Cost £1
Eligibility Criteria
You must be 18 years or over, a UK resident, and have a valid UK phone number.
- One of the best Apps in the sector
- No Monthly or Annual Fees
- Easy Invoice Creation Functionality
- ATM withdrawals cost £1
- 20p charge for transfers between accounts
- 3% charge for cash deposits at Paypoints
Eligibility Criteria
- You must be at least 18 years old.
- You must have a UK residential address.
- You must be 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.
FSCS Protection: Yes, Tide is FSCS protected.
Trustpilot Score: 19,375 Reviews with an average rating of 4.1/5
- One of the best Apps in the sector
- No Monthly or Annual Fees
- Easy Invoice Creation Functionality
- Post Office Deposits Cost £1
- 20p charge for transfers between accounts
- 3% charge for cash deposits at Paypoints
Eligibility Criteria
You must be 18 years or over, a UK resident, and have a valid UK phone number.
To qualify for Tide’s Black Friday Deal and get £100 cashback, all you need to do is spend £500 or more via your new account with them within the first 90 days of opening. This deal is valid from 20/11/2023 – 30/11/2023.
- One of the best apps in the sector
- 2 free expense cards for your co-workers
- Member discounts
- ATM withdrawals cost £1
- 20p charge for transfers between accounts
- 3% charge for cash deposits at paypoints
Eligibility Criteria
- You must be at least 18 years old.
- You must have a UK residential address.
- You must be 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.
FSCS Protection: Yes, Tide is FSCS protected.
Trustpilot Score: 19,375 Reviews with an average rating of 4.1/5
- One of the best Apps in the sector
- 2 FREE Expense Cards for your co-workers
- Member discounts
- Post Office Deposits Cost £1
- 20p charge for transfers between accounts
- 3% charge for cash deposits at Paypoints
Eligibility Criteria
You must be 18 years or over, a UK resident, and have a valid UK phone number.
- One of the best apps in the sector
- Easy invoice creation functionality
- Easy accounting integration
- ATM withdrawals cost £1
- 3% charge for cash deposits at paypoints
- No physical branches
Eligibility Criteria
- You must be at least 18 years old.
- You must have a UK residential address.
- You must be 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.
FSCS Protection: Yes, Tide is FSCS protected.
Trustpilot Score: 19,375 Reviews with an average rating of 4.1/5
- One of the best Apps in the sector
- Easy Invoice Creation Functionality
- Easy Accounting Integration
- Post Office Deposits Cost £1
- 3% charge for cash deposits at Paypoints
Eligibility Criteria
You must be 18 years or over, a UK resident, and have a valid UK phone number.
- 130 UK Branches
- Overdafts
- Online, telephone or APP based banking
- Competitive interest rates
- 25 months free for new accounts or switchers
- M Account for Business comes with No monthly account fee as well as free day-to-day online banking
- All accounts other than the M Account carry monthly charges
- Fees apply for depositing cash or transacting internationally
- Less locations than the bigger high street banks
- Typically one of the most cost-effective providers
- 80% of payments are settled within 24 hours, and 35% of the total are instant
- Complete transparency on all fees
- No bank branches
- No cash deposits or transactions
- No credit or business loan facilities are available
Eligibility Criteria
- 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.
FSCS Protection: No, Wise is not FSCS Protected.
Trustpilot Score: 217,184 reviews with an average rating of 4.3/5
- Typically one of the most cost-effective providers, although the sector is now very competitive
- 80% of payments are settled within 24 hours, and 35% of the total are instant
- complete transparency on all fees;
- No bank branches
- No cash deposits or transactions
- No credit or business loan facilities are available
Eligibility Criteria
Almost all businesses are eligible; there is no credit check required.
Compare business bank accounts
Choosing the right business bank account is a decision that will impact your company on a daily basis for years to come.
Whether you’re a start-up opening an account for the first time or an established SME switching for a more competitive deal, we will help you compare the best options.
Compare business bank accounts
Whether you are a small start-up or a large organisation, a current account is almost always essential. As a limited company, you will need a banking facility, this is because the business is a separate legal entity. It is not a legal requirement if you are self-employed, although it will help organise your finances.
There are many types of current accounts for businesses, such as those with overdrafts, online account management, free business accounts to mobile apps and balance text alerts. If you hold a business account, you will be able to keep your personal and business finances separate. Having a business bank account will make applying for a business credit card or loan more straight forward in the future.
Deciding which business account is the best, is exactly the same as comparing personal accounts, it is important to find the best fit for your requirements.
Business banking options are different to personal accounts, as they often charge a monthly account fee and transaction fees. Although, by comparing the available accounts you may be able to reduce or completely avoid charges in the early days.
How to compare business bank accounts
Charging structures for business accounts can be complex and time-consuming to compare, with limited comparison tools reviewing them like for like. We understand that it can be difficult to compare the options available, so we have created a free, no-obligation comparison service.
Our service is designed to help you find the ideal bank account, whether you are a contractor seeking a contractor bank account, have bad credit or you are a small business. Whether it is your first account or you’d like to switch your business banking.
It may seem easy to open an account with your personal bank, but they may not offer the features required. There are a variety of account requirements, so we have split the available options into different sections.
