Start up business bank accounts explained

Start-up business bank accounts are similar to any standard business bank account. At first the fees are usually reduced as your turnover will naturally be lower because your business is in its first stage.

The longer you stay with them the more likely they are to offer free banking periods, overdrafts with no fees for up to 12 months plus other perks – these are offered to entice you to use their services.

Another bonus of having a start-up bank account is the free support that comes with it to make managing your account as easy as possible, which can prove invaluable for young businesses.

Benefits of a start-up bank account

Free business account period

Many deals include a free business account for a specific period when you signup – this can be up to 25 months. This saves you that little bit of money as you get started.

Online business banking

As with many start-ups, it’s crucial to have your finances on the go. Many accounts now come with online banking be it through their website or an app.

Overdraft options available

Overdrafts can be a useful feature to any start-up who needs that additional flexibility when it comes to their finances whilst they find their feet.

You could have your new account open 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 Start-up Business Bank Accounts?

We compare the market for you to find exclusive deals. Whether you want to switch or set up a business bank account we’re here for you.