Best Business Bank Account

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Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.

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Cashplus Business
Tide
Starling Bank
Fair Everywhere
Anna

How we've helped others with business banking

Finding the right bank account is an essential part of your business.

  • We're here to help you switch bank accounts
  • Over 10,000 businesses have used our service
  • We help people compare with ease
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For a start-up, many banks will offer an introductory free banking period which means that you won't face monthly charges for using the account! However, other fees may apply.

What's important?

  • Additional fees for paying with cash
  • Do you need to make cash deposits and payments at a local branch?
  • Is your branch local enough for you to get to for everyday banking needs?
  • Many banks will offer support to start-ups, whether that is offering a mentor or someone to help with software
  • Check any set up and monthly fee to ensure that you're happy with the charges
  • It's not always the best option to go with your personal current bank, unless you have done so already!

If you are stuck when it comes to choosing the right business bank account, then speak to other business owners and learn about their experiences with branches in the area. Remember once you have the account, make sure you are reviewing it on an annual basis. Businesses are covered by the 7-day switcher guarantee.

It's a fact that people are more likely to divorce their other half than switch their business bank account. If you are worried about switching, then you shouldn't be as all business accounts are covered by a 7-day switcher guarantee. (Just make sure your bank is registered with this scheme!).

What's important?

  • Don't just look at the free period, work out how much it will it cost after the fee free period
  • Ensure you know the fees you will be charged per month to avoid surprises!
  • Switching can be done within 7 days
  • Make sure that those you bill are aware

If you are savvy enough to use online banking regularly then you may want to ask other business owners what their thoughts are on the application. Standards of online banking vary and no one wants to go backwards when they are trying to move forward.

If you are having trouble setting up a business bank account or switching from your current one, then there are still options available where you can avoid credit checks.

What they offer:

  • Debit cards
  • Online banking
  • The ability to pay into post offices or other establishments
  • Potential improvement on your credit rating
  • Quick setup and going to the branch is not required

Fees on the account can be paid monthly or annually. The account is simple and easy to use and it can also be cheaper than a standard business bank account!

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What is the best business bank account?

A business account is the best way to keep track of your finances, regardless of your size, industry or turnover. The best business bank account for you will depend on your individual requirements, as there are a variety of features available. To help you find the best business bank account UK wide, we have compiled this guide to finding the best accounts.

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Top features

If you are wondering which is the best bank to open a business account, start by comparing the features.

An overdraft

An overdraft

If your business would benefit from the flexibility of an overdraft, look for an account without expensive overdraft fees.
Online banking

Online banking

If access to your account 24/7 is important, you should search for the best online business bank account provider. Look for a bank which provides a well-designed website and a convenient app.
Debit cards

Debit cards

If you or your employees need to make purchases using a debit card, the best business accounts will be those with low card charges.
A Post Office banking service

A Post Office banking service

Alternatively, if your business uses cash you are likely to need to pay cash into your account. In these cases, look for an account which allows you to make payments into any UK branch.
Branch banking

Branch banking

If you change notes and pay in cash or cheques, the best business accounts will provide in branch banking.
Interest

Interest

Unlike personal accounts, it is possible to secure competitive interest rates on your positive account balance.
Accounting software

Accounting software

If you are looking to speed up your tax return calculations, the best business bank accounts will offer software integration.
Multiple currencies

Multiple currencies

Depending on your business, you may need to work in multiple currencies. In these situations, look for a bank which allows you to pay in multiple currencies and receive international card payments.
Cost of banking

Cost of banking

The majority of business accounts will charge a fee, although you may benefit from a free introductory period. Look for a bank with low charges for withdrawing cash, making payments, receiving payments using your overdraft. Think about the type of transactions which your business makes, then search for an account with the lowest fees.
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Read more about business bank accounts in our FAQ

If you are searching for the best business bank accounts for small businesses, there are some excellent options available. An award-winning option is the Tide business account, which is specifically designed to save small businesses money and time. There are no monthly fees and it is possible to link to you accounting software. It is also possible to attach photos and notes to your transactions, which will aid with financial management. Although no overdraft is available, it is possible to apply for a loan up to £15,000 through their partner, Iwoca.

Searching for the best business bank for startups can take time, especially if you are unsure which accounts are available. A great example are business current accounts, which are designed for start-ups, smaller businesses and sole traders. For example, an account which is free for the first few months with a simple online application from. Other free services could include, an invoicing service, where your account will create invoices and chase any unpaid invoices automatically.

If your business is looking to reduce costs, a free business bank account is a great place to start. There are some great options available, such as a Yorkshire Bank Business Current Account and the Clydesdale Bank Business Current Account. Both accounts offer a free banking period of 25 months, which is the longest period offered.

If you are looking for a traditional bank with high-street branches, both the Clydesdale Bank and the Yorkshire Bank are ideal. It is possible to apply online in just 15 minutes, which is much more convenient than applying in branch. Your business will benefit from support from a dedicated business relationship manager, who will provide guidance on financial management. It is possible to apply for an overdraft and you will be able to pay direct debits through the account.

If your credit record includes missed payments or CCJ's, you may not be accepted for a traditional bank account. However, there are still options available if you have a poor credit history. There are a variety of banks which do not carry out a credit check when you apply, such as Cashplus and Revolut. These accounts are often online accounts with basic features, although there are some great accounts available. You will still be able to receive payments, pay your bills, use a debit card and a cheque book. However, the account is unlikely to provide credit in the form of loans or overdrafts.

If you are searching for the best online bank for small businesses, there are a growing number of excellent options. For example, online only accounts are provided by banks such as CardOneMoney, Cashplus and Countingup.

As online banks, these are some examples of accounts which offer quick and simple online banking. There are features such as apps, integrated accounting software and low fees. For example, Cashplus offers an account with no UK ATM fees and free transfers, meaning you can process payments including staff wages with no fees. These accounts are designed to provide online banking, it is possible to pay cash into your account through the Post Office.

If you operate as a sole trader, there is no legal requirement to open a business account. Although, many banks will not allow you to use your personal bank for business use. If you open a business account there are many benefits, such as quick access to your finances and simplifying your tax returns.

A great example is Revolut, which provides either a basic free account or a paid subscription option. It is possible to open an account online in just 5 minutes, with benefits such as accounting software integration. If you have clients around the world, a Revolut account will allow you to hold 29 different currencies. In addition, multiple users can access the account and can even have their own prepaid employee bank card However, there is no overdraft facility and you will not earn interest on any in credit balances.

If you are looking for the best business account provider for a limited company, Santander is an excellent choice. They have a variety of accounts available, although for 17 years Moneyfacts have voted them the best business current account provider. This specific account is designed for small and medium sized businesses, with a maximum of two directors, shareholders or partners.

The account is designed for standard business banking, so you can make CHAPS, contactless and direct debit payments.

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Compare and open your account today!

With so many different accounts available, it can be hard to find the best business bank account. Whether you are looking for the best bank for small businesses or a large corporation, we can help. As business owners ourselves, we know that finding the best business account is not a quick and easy task. This is how our business bank account comparison service began.

We have developed a free, no-obligation comparison service, which will quickly help you find the best business bank account for you. Simply select whether you are a start-up or looking to switch account and we will provide you with the best options available. Are you looking for the best start-up accounts? Or, the best accounts with no credit checks? Whatever your requirements, our tool will guide you to the best business bank accounts.

Within the list of options, you will be able to quickly compare everything from monthly charges to account features. This will help you to find the best business bank account for your individual requirements. If you would like 24/7 access to your account, you will be able to easily compare banks with online banking. Alternatively, if the ability to pay cash into the account is essential, you can compare UK high street banks, along with those alternative banks that offer this facility.

If you already hold a business account, the switching process is quick and straightforward. If your bank is registered with the scheme, your business account will be covered by a 7-day switch guarantee.

If you are looking for advice about the best business bank accounts or would like to apply, our team are here to help. To find out more about the best business accounts, please contact us today.

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