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. 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: 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
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
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: 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
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
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
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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.