Compare Business Current Accounts
Business Current Account
Why we like it: Awarded Best Business Current Account Provider for the last 14 years, as well as Business Bank of the Year for the second year running by Moneyfacts. Contactless payments with an iPhone 6 (or later) or Apple Watch. As part of your application, you can apply for a business overdraft from £500 to £25,000 (subject to acceptance).
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.
Why we like it: Some of the best features of a credit card and a bank account – all in one; Online banking – set up standing orders for free and manage your Direct Debits; Free UK ATM withdrawals & electronic transfers; Free to load your wages; Pay in by electronic transfer or cash.Borrow up to £250 if approved for a Cashplus Overdraft.
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.