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This comparison simply includes all savings accounts.

Business Current Account Ampere
Monthly Fee £20
Account Type Business Current Account
Features Ampere offer the lowest exchange rates and lightning-fast transactions for secure payments

Why we like it: For companies of all shapes and sizes - available to start-ups, small and medium enterprises, newly registered businesses, companies with local or foreign directors and more. Quick and easy foreign transactions and FX payments. Local transfer in GBP & EUR - £0.00. Incoming international transfer in GBP/EUR (SWIFT) - £25.00. Currency exchange (EUR/GBP, GBP/EUR) - 0.35% from the exchange amount. Access all business account features from your phone, PC or tablet anytime and anywhere. Merchant account - receive settlements twice a week and enjoy reduced costs, starting from 0.65%. Corporate & private debit card - with no monthly fees, pay in local currencies with flexible repayments. Business loans - apply for up to double monthly turnover after just three months of operating. You can open an account with Ampere if you are at least 18 years old, a UK and EU-based director with a UK registered enterprise (LTD, LLP, LP). Also you have to be a UK or EU resident. £35 Business Account setup fee £20 Business Account maintenance per month. Eligible deposits are covered up to £85,000 by the Financial Services Compensation Scheme

Business Current Account Tide
Monthly Fee £0
Account Type Mobile Business Bank Account
Features Access to Instant Saver Account paying 4.33% AER

Why we like it: Open a free Tide business current account using referral code FAIRINVESTMENT and you can then open a Tide Instant Saver account in-app and start saving from just £1 (T&Cs apply). Designed for growing businesses and freelancers. Free account opening in as little as 5 minutes. Free contactless Mastercard. No monthly or annual fees. Free card payments UK and abroad. Free transfers between external accounts for one  year (20p per transfer thereafter). Free transfers between Tide accounts. ATM cash withdrawals  – £1. Cash Deposits – £1 at Post Office or 3% at PayPoint. 1 in 12 business current accounts opened in the UK was with Tide, within a year launch. Mobile App Features: Sync with accounting software such as Xero, QuickBooks, FreeAgent, Sage, KashFlow and Recko. Overview of your balance and all transactions listed in seconds. Auto categorisation for income and expenditure. Instant switching between separate accounts. Freeze and unfreeze card, get card PIN reminder and order a free replacement in seconds. Create and pay invoices. Access your account on any laptop or desktop

Business Current Account Monese
Monthly Fee £9.95
Account Type Business Bank Account
Features Send or receive money from over 30 countries Supported in 14 language

Why we like it: Sign up in minutes. Transfer money abroad - send or receive from over 30 countries. Contactless Mastercard debit card, withdraw globally from any ATM for free. Make payments via the UK Faster Payments network for free. Spend, receive and send money fast in the local currency with no extra markup fees. Use your app in one of 14 languages. Easily add funds to your business account with cash. from ore than 40,000 PayPoint or Post Office locations across the UKCreate invoices right in your app to easily send to clients. Keep your personal and company finances separate. Effortlessly manage and track your spending for both accounts in a single app. Breakthrough technology and state-of-the-art security features like 3D secure, biometric login and backend encryption, you can have peace of mind that your money, personal data and account are safe

Business Current Account MultiPass
Monthly Fee £23
Account Type Business Bank Account
Features Enjoy intentionally simple business banking with MultiPass

Why we like it: MultiPass is a bank challenger that offers multi-currency virtual IBANs, local EU, UK and US accounts as well as a corporate card to cover day-to-day business expenses. Transact in 30+ currencies across 180 countries. Get your own dedicated IBAN and local UK, EU & US accounts. Make fast multi-currency payments globally via SWIFT or local payment networks. 98% of payments are performed in under 24h. MultiPass gives you access to bank-beating exchange rates that guarantee significant savings versus traditional banks. Get local presence in 20+ countries. Use SEPA Instant (EUR), ACH (USD), Faster Payments (GBP) and other local payment channels to transact in foreign markets cheaper and faster Benefit from personal manager support. A dedicated banking expert that understands your business nature with help you out with any questions and ensure smooth delivery or your payments. Onboard and manage your account entirely online, wherever you are. MultiPass is part of the Dyninno Group, an international holding with over 19 years of experience in the global market

Business Current Account Revolut
Monthly Fee £0
Account Type Business Bank Account
Features 1% cashback For freelancers, sole traders, contractors, and self-employed

Why we like it: Create account in just 2 minutes. Simple and convenient tools made for freelancers, contractors, sole-traders, and more. Get rewarded with 1% cashback on all Pro debit card purchases, whether you’re buying supplies, booking travel or keeping yourself fed and watered while working away. Revolut app for free - from ingoings and outgoings to expenses and invoices, keep your freelance bank account a tap away from your everyday current account. Get paid in seconds, wherever you are - accept quick payments via QR codes, payment links, customisable invoices and a card reader. Use invoice templates to create, track, and send invoices in seconds so you’re always paid on time. Exchange money instantly in 30+ currencies Monthly fee ranges from zero with standard package to £12.99 to include many more benefits. No joining fees

Business Go Current Account Cashplus
Monthly Fee £0
Account Type Business Bank Account
Features Sign up in minutes for Business Bank Account with no monthly or annual fee

Why we like it: Straightforward pricing – No annual or monthly fee. Deposit cash at any UK Post Office or deposit money via bank transfer. Use your card online and instore or to withdraw cash. Pay bills, suppliers and expenses online. Sort and categorise spending on the go via the Cashplus Bank app. Retain control of employee spend and reconcile expenses. Integrated with leading accounting software

Go Solo
Business Current Account Go Solo
Monthly Fee £0
Account Type Business Bank Account
Features Open a business, not just a bank account

Why we like it: Free Master Card™ Business Debit Card. Register online in minutes. Securely manage your card and account. Statements and all transactions in one place with agile search. Invoice & payments hub: Issue, send and track invoices in a few clicks. Instant GBP payments via Faster Payments Network. Strong customer authentication protocols (SCA) ensure the security Option to open a new Limited company registered with Companies House free of charge. Full transaction history, card status, PIN and limits management through the app. All funds are held in a safeguarded account. Monthly fee: Free to start, up to £5 for more advanced options

Business Current Account OuiTrust
Monthly Fee £0
Account Type Mobile Business Bank Account
Features Payment Solutions for your International Business

Why we like it: Transfer money across 100+ countries worldwide at a real exchange rate, with no hidden fees. Stay in control of your business finances. OuiTrust Debit MasterCard. 30+ Currencies Support for Your Global Business. Fees from £0.3 international and local transfer to more than 100 countries and free transfers between OuiTrust Business accounts. OuiTrust provides you with highly competitive exchange rates and locked-in exchange rates promptly for easier control of exchange rate risk. Up to £3 for a Single Payment to 18 Countries, one of the lowest SWIFT transfer fees in Europe, instant payment in EUR, CNY and GBP. Trusted by 50,000 Happy Customers. 24/7 support. Monthly fee: Free to start, up to £19 for more advanced options

Card One Money
Business Current Account Card One Money
Monthly Fee £12.5
Account Type Business Bank Account
Features No Credit Checks Card One just need to verify your identity & residency

Why we like it: Card One aim to open your account in hours with no credit checks. Set up automatic payments for Direct Debits and Standing Orders, order up to 4 cards for your team and add money directly from your account. Set up international payments in a range of currencies with IBAN and SWIFT codes provided. Manage your business finances 24/7 online or in-app. Need to speak to someone? Customer service team is available Monday-Friday, 08:30-17:00. Export statements to accounting softwares including Xero, Sage, FreeAgent. Application Fee £55. Minimum monthly account fee of £12.50. UK registered business only. Primary account holder must be at least 18 years of age. Business owner/ UK residents only

Business Current Account Anna
Monthly Fee £0
Account Type Mobile Business Bank Account
Features Great For Small Businesses & Sole Traders

Why we like it: Try ANNA free for six months. Set up your account in less than 10 minutes and Debit Mastercard® sent the same day. ANNA doesn’t offer credit, which means the process is different by design – it’s fast, and applying won’t affect your credit score. Direct debit support. UK-based chat support – 24/7. ANNA creates and sends sales invoices for you, and politely chases payments due too. ANNA also schedules payments of purchase invoices. Connect your personal and business current accounts from other banks to ANNA to view balance and payment history in the ANNA app. ANNA will be ready for Making Tax Digital (MTD). After six months monthly fee will start from £5

Business Current Account Currensea
Monthly Fee £0
Account Type Mobile Business Bank Account
Features Great For Trading Abroad

Why we like it: Great for businesses dealing abroad. Interbank rates, the best anywhere. No card charges, no FX fees. Exchange rate 0% above wholesale. Pay in all 180 currencies. Automatic integration with all accounting platforms. Virtual or physical World Debit card. Mobile app lets you track spending and monitor transactions. Set spend limits, freeze and unfreeze your card or view your pin. Partnering with all the major high-street banks, connecting securely through Open Banking. No hidden transaction fees, even at the weekend. Zero ATM withdrawal fee up to £500/month. Apply online and receive your card in 3 to 5 days

Lloyds Business Bank Accounts

What is a Lloyds business bank account?

Lloyds offer a range of business bank accounts that are designed for large established businesses, charities and schools, small businesses and start-ups and sole traders and freelancers.

Each account has different features, benefits and charges to optimise your business banking, and ensure you don’t pay for aspects you aren’t going to use.

Depending on your business and how you operate, you can choose the best account for your banking needs.

All of the account classifications are fairly straightforward; however, to qualify for the larger business current account you’ll need an estimated turnover of over £3m for the next 12 months.

Why use a Lloyds business bank account?

If you’re registered as a limited company, it’s a legal requirement to hold your company cash in a business account - separate from your personal bank accounts.

If you’re a sole trader, contractor or freelancer and haven’t set up your own limited company, there’s no legal requirement for you to own a business bank account.

But here's why a business bank account is still a good idea:

  • Business accounts separate your expenditure and earnings from your personal banking, meaning you can accurately track your spending and calculate your net profits.
  • You can get automatic linking to Lloyds’ accounting software: Business Finance Assistant. This software sends invoices for you, manages your expenses, monitors your financial performance and sorts your tax returns.
  • You can get expert support from Lloyds’ UK-based business management team, along with access to various online digital skills training courses.

What are the benefits of a Lloyds business current account?

Along with the above business banking essentials, you also get a number of other benefits from using a Lloyds business account:

  • Lloyds offer business loans to account holders for up to £250,000 for small businesses and start-ups (and more for larger businesses) helping you take your business to the next level
  • Accept card payments to your business – online, over the phone or face to face
  • Company credit cards
  • Business overdrafts
  • On-the-go baking with the mobile business banking app

All of these features allow you to up the efficiency of your business operations, leaving you with more time to spend on your customers and growing your business to its full potential.

What are the charges for a Lloyds business account?

Lloyds’ business account charges vary depending on the type of account you open.

In this article, we’ll focus on:

  1. Lloyds’ smaller business account - great for small companies, sole traders and the likes
  2. Lloyds’ larger business account - great for businesses with an annual turnover of £3m+

Lloyds’ small business account:

  • First 12 months FREE
  • £7 per month fee after the first 12 months
  • Free electronic payments forever (in and out)
  • Cash payments - £1 per £100 for the first £1,500 per month, then £0.90 per £100
  • Credit in and cheques in or out - £0.85 per transaction

Lloyds’ business account fees for larger businesses:

For the larger business bank account, there are two fee options you can choose from depending on your banking preferences.

Business Extra Tarif:

  • Cost-effective option for mixed transactions (not just electronic)
  • £15 per month maintenance fee
  • £0.37 per electronic transaction (e.g., Business Debit card transactions and ATM withdrawals)
  • Slightly cheaper for cheques, cash payments and other branch transactions

Electronic Business Tariff:

  • Free electronic transactions
  • £20 per month maintenance fee
  • More expensive for cheques, cash payments and other branch transactions

Can I switch my current business bank account to a Lloyds business current account?

Yes, you can switch your existing business bank account to Lloyds under the Current Account Switch Guarantee.

Lloyds will switch your bank account for you on your behalf. They will:

  • Have your previous account closed and transfer your credits and balances to your Lloyds business bank account
  • Transfer all your incoming and outgoing scheduled payments
  • Automatically redirect all payments to your old account to your Lloyds business account for at least three years.
  • Refund you for any interest or charges levied by your old business account provider

How do I open a Lloyds business bank account?

The best way to open a Lloyds business account is online. It’s the quickest and most efficient method.

For a smaller business account, you’ll need:

  • A copy or photograph of your signature
  • Basic personal information like your name, date of birth, address and e-mail address
  • Your business information including name, address, business activities and expected turnover

It takes about 20 minutes to apply for an account but can take up to 4 weeks for Lloyds to accept your application and complete the necessary checks.

For a large business account, you’ll need to speak to a Lloyds team member after you provide your business information and banking requirements.

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