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This comparison simply includes all savings accounts.

Starling Bank
Business Current Account Starling Bank
Monthly Fee £0
Account Type Business Bank Account
Features Very Fast Setup

Why we like it: Send fast and transparently priced money transfers to over 35 countries worldwide, cheaper than most high-street banks. Free contactless Mastercard. No fees for spending and withdrawing money abroad, and you’ll get Mastercard’s real exchange rate. Automated accounting: Link your account with QuickBooks, Xero and FreeAgent. Real-time notifications: Receive a notification whenever money enters or leaves your account. Enjoy your award-winning business bank account without having to pay any monthly fees. 24/7 UK support. Voted best British Bank and Best Current Account 2018 - 2021 at the British Bank Awards. FSCS protection: Eligible deposits are covered up to £85,000 by the Financial Services Compensation Scheme. Add the Business Toolkit to your free account and automate bookkeeping alongside your banking to save precious time on financial admin – Get the first month free (£7 per month after that)

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 Tide
Monthly Fee £0
Account Type Mobile Business Bank Account
Features Get £50 & 12 Months FREE Transfers (T&Cs)

Why we like it: Get £50 and a year of free transfers on us when you open a business account with us! T&Cs apply. Just use the code: FAIRINVESTMENT. 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 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

Business Current Account Cashplus
Monthly Fee £0
Account Type Business Bank Account
Features No Credit Checks

Why we like it: Instant online approval 100% guaranteed. No credit check to open an account. Perfect for any type and size of business. Mobile app - Manage your account, from the palm of your hand, 24/7. Free to receive bank transfers. No monthly account management fees. No UK purchase transaction fees. Any size of UK business or organisation can apply for our account – even if you don’t have a credit or trading history. Integrated with most accounting software. Business Expense Cards - Add up to 20 additional cards to your business account to provide to your employees, for simpler expense management. £69 annual fee. Maximum balance £15,000. Daily ATM withdrawal limit £500. Apply in just 4 minutes

Business Current Account CardOneBanking
Monthly Fee £12.5
Account Type Business Bank Account
Features No Credit Checks

Why we like it: Account designed specifically for small businesses. No credit checks to open account. Pre paid Mastercard. Mobile app available - check your balance, view statements & pay bills. Earn cash rewards of up to 3.5% when you shop using your card at more than 35 major high street retailers including ASDA, Argos, Boots, Marks & Spencer, B&Q, Wilkinson. Online application online in less than 10 minutes. Most accounts opened within 3 hours. 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

Tide Business Bank Account

What is a Tide business bank account?

A Tide business bank account is a bank account that’s designed for freelancers, sole traders, limited companies and small or scaling businesses.

While business bank accounts are essential for limited companies in order to separate your personal finances from those of your business, they are invaluable for sole traders and freelancers as well in order to keep your income and spending organised.

What are the benefits of a Tide business account?

If you own a limited company, the main benefit of a business bank account is for tax purposes.

It’s essential to hold your company’s cash in a bank account in the name of your business and not your personal account.

This way you can take dividends and your salary from your business into your personal account separately.

Tide business bank accounts can link to your accounting software so that your tax reporting is quicker, easier and more efficient.

The less time you’re worrying about banking and tax reporting, the more time you can focus on growing your business.

Even if you are just a sole trader or freelancer and don’t own a limited company, business bank accounts are great products.

Keeping your business and personal spending is essential for monitoring the cash flow and growth of your business and keeping things organised.

In addition, you can automatically categorise spending so you know where your funds are going, helping you monitor and prioritise your business expenditure.

What do you get with a Tide business bank account?

In addition to the above, Tide current accounts have several attractive banking features for small businesses and sole traders that many high street banks don’t offer, including:

  • Expense Cards for employees
  • Bank transfers
  • ATM cash withdrawals
  • Standing orders and Direct Debits
  • Telephone helpdesk support
  • 24/7 business legal helpline
  • Mobile app banking
  • Cashback rewards
  • Transaction statement CSV exports
  • Automatic expenses receipts
  • Send automatic invoices

You can do pretty much everything with a business bank account that you can with a personal account and more.

Including setting up regular payments to commit to ongoing business costs and convenient mobile app banking that allows you to monitor your business finances on the move.

With the pace of modern business, banking apps are an essential feature to make sure you’re on top of your company’s financial health.

How do I get a Tide business account?

  • Registered Companies - you must be a director of the company to open an account, and it must be registered with UK Companies House.
  • Sole traders and freelancers - you just need to be UK based.
  • You can open a Tide business account online in a matter of minutes.

You’ll also need:

  • To be aged 18 or above
  • Have a UK phone number and address
  • Have a smartphone with access to a UK App or Google Play store

Do you have to pay for a Tide business account and how much do they cost?

Business bank accounts charge customers in two ways, and it’s usually a case of one or the other.

  • Transactions fees
  • A monthly or annual fixed fee

With a Tide business bank account, you can select what type of account is best for you.

Free Account

Their basic account is free of ongoing monthly charges, and you are instead only charged for the transactions including bank transfers in and out, ATM withdrawals and expense Tide cards for your colleagues.

You are also restricted to limited features with the free business account.

Plus Account

Tide’s Plus business bank account costs a monthly fee but gives you a limited number of free banking transactions per month. You also get access to additional features like phone support and their 24-hour legal helpline.

Cashback Account

Tide’s final business bank account comes at a higher monthly premium and includes more free transactions, a dedicated account manager, and 0.5% cashback on your Tide card spending.

If you’re doing a lot of business activity on your Tide bank account then this account might be best for you.

What are the restrictions of a Tide business bank account?

Tide business accounts focus on practical and affordable accounts for small business owners and limited companies, so there are some features they aren’t able to offer. Here is a list of some of the features they don’t currently offer:

  • Trading of cryptocurrencies
  • Money services (such as foreign exchange, loan providers, money transfers)
  • Casinos, prize draws and other betting or gambling activities
  • Travel agencies
  • Car wash services
  • Political parties
  • Charities
  • You can’t deposit cheques like with a post office account

Is a Tide business bank account safe?

Tide business bank accounts are protected by the Financial Services Compensation Scheme (FSCS) like most bank accounts are.

This means that if Tide goes into administration for legal or financial reasons, you are covered for up to £85,000 of your deposits in your accounts.

Tide accounts are classed as E-money accounts so your funds are held in electronic form. Your funds are held in a Safeguarding Account, meaning they are ring-fenced from the money Tide uses to run the company.

How much money can I have in a Tide account?

How much money you can deposit in a Tide current account depends on the type of account you apply for, but there are limits set for each account as to how much you can deposit.

Latest news

Top 3 picks for current accounts in 2021

Over 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers. Read More »

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