Compare Business Current Accounts
Business Current Account
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. Apply for a fair, flexible business overdraft of up to £150,000. 24/7 UK support. British Bank Awards Best British Banking Provider Winner 2018, 2019 and 2020. 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)
Why we like it: 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
Why we like it: Sign up online for free– it only takes 10 minutes. After you’ve opened your account, you can manage everything online, no trips to the branch, ever. Get dedicated payment instructions in HKD and USD, as well as EUR & GBP. Start receiving bank wires from customers around the world, without hidden fees. Make transfers locally or internationally. It’s faster, easier and cheaper than a bank. You can set up payees in a matter of seconds and send them funds at the click of a button. Neat corporate Mastercard allows the best exchange rates. Enable your team members to handle corporate expenses or cash withdrawals from ATMs around the world. Allocate amounts and manage budgets for each Neat Mastercard. Verify transactions in real-time for maximum control and seamless expense claims. Receive payments from your customers and disbursements from e-commerce platforms. Stripe, PayPal, Amazon and more are all covered. Neat hold multiple regulatory licenses, and take the extra step to ensure that your funds are kept safe and secure. Simple and straightforward pricing. No hidden fees
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
Why we like it: A CardOneBanking current account is perfect if you want to stay in control; Online, text and phone account access. UK call centre.Free text alerts each time money is paid in. Free text alerts if bills cannot be paid.
Compare business current accounts
When opening a business bank account, many people simply go with whoever they do their personal banking with. This can be a mistake, however, as interest rates and other features on business accounts vary significantly from provider to provider, meaning it is definitely worth shopping around to find the best deal for you.
Types of business bank accounts
There are various different kinds of business current accounts that could be relevant to your company. Which type of bank account you need will depend on the kind of business you have and some companies will need more than one kind of current account to facilitate different aspects of their business.
Standard business current account
Most businesses will be able to set up a standard business current account. This should give you basic features such as a paying in book, cheque book and online banking. You will normally earn interest on any credit balance in your account and may be able to have an overdraft facility if required. Most banks will provide extra support and guidance on request to business customers.
Start-up business current account
If you are starting a new enterprise, you may qualify for a specialist start-up bank account. This will often give you free business banking for an introductory period, plus standard features such as a cheque book, paying in book, Visa debit card and online banking.
Client current account
If you are a professional practice that needs to hold money on behalf of clients, it is sensible to have a client current account. This allows you to keep customers’ money separate from your own. Many banks will offer client current accounts for free to existing business customers, although you may be charged for non-standard transactions.
Corporate and commercial banking accounts
Medium and large business who need more comprehensive or international banking services will likely want to consider a corporate or commercial bank account. This kind of account is likely to come with a much higher level of support including a personal account manager.
What to look for in a business bank account
There are various features that different banks and building societies will offer with their business current accounts. Some of the key things to look out for are:
- Interest rates on credit balances and overdrafts
- Monthly or quarterly account fees (often known as “standing charges”)
- Transaction fees
- Free introductory periods (often around 12-18 months)
- Extra financial tools
- Online and phone banking
- What sort of support is offered with the account
Find the best business current account for you
Getting the best interest rates and other features with your business bank account can save you money and make your life easier. However, with so many different brands and financial products to choose from, finding the best deal on a business current account that offers everything you need can be tricky.
Our business current account comparison tool, found at the top of the page, allows you to quickly and easily compare some of the best value accounts from leading lenders across the market. That way you can find the best business current account for you with minimal hassle.