Small business bank accounts
Every business must have a business bank account – whether you are a contractor or a business with thousands of employees it is essential to have one.
The features will usually include; overdraft options, online banking, free business banking and interest on in credit balances.
Just like personal bank accounts, it is crucial to look around to find the bank account which is the best fit for you and your business. There are many accounts which are designed for small enterprises, which could possibly be a better option for your business.
Various accounts will charge a sum based on the amount of money that is transferred weekly, and some may have a standard flat fee. It is recommended that if your business is reasonably small, it might be worth choosing an account that has a range of fees rather than the standard fees – which could be higher!
Benefits of small business bank accounts
Control your account online
Many business bank accounts include the option to manage your account and payments online, giving you greater control of your finances
If a business overdraft is important to you, a lot of bank account providers include the option to add an overdraft
Many banks offer support including mentors and guides to help start-up businesses
You could have your new account within 7 days
All bank account providers now have to offer a switching guarantee, meaning your new account must be ready within 7 days of your chosen date
Interested in comparing small business bank accounts?
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Whether you want to switch or set up a business bank account we’re here for you.