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ANNA Money and Starling Bank are both extremely popular choices for UK business owners looking to shift away from traditional high street banking. However, despite both brands being app‑based and digital‑first, they operate differently under the surface.
ANNA positions itself as a financial admin tool with banking features layered on top, while Starling is a fully licensed UK bank offering a more traditional current account experience, but delivered digitally.
This guide compares Starling and ANNA side‑by‑side, covering fees, features, regulation, and which types of companies each account is best suited to.
ANNA vs Starling: At a Glance Comparison
ANNA Money | Starling Bank | |
Account Model | E‑Money Institution (EMI) | Fully licensed UK bank |
Core Focus | Financial admin | Business current account |
Typical Users | Freelancers, microbusinesses, contractors | Sole traders, limited companies, SMEs |
Monthly Fees | Free and paid plans | Free standard account |
Cash Deposits | Via PayPoint (fees apply) | Via Post Office (fees apply) |
Lending | Not available | Available subject to approval |
FSCS Protection | No | Yes (up to £85,000) |
Business Bank Account Offers and Fees
What ANNA is Designed For
ANNA is built around reducing your business admin burden rather than replicating a traditional bank account. It combines payments, invoicing, tax tools, and expense tracking into a single app‑based platform.
Instead of offering a classic current account, ANNA focuses on automating everyday financial tasks that SMEs often find time‑consuming.
Key Characteristics of ANNA
Designed for UK freelancers and small businesses
Free basic account with paid upgrades
Automated invoicing and payment chasing
Expense categorisation and receipt capture
Cash deposits via PayPoint
Available for sole traders and limited companies
Trade‑Offs to Consider
Not a fully licensed bank
No overdrafts or loans
FSCS protection doesn’t apply
Fewer traditional banking features
ANNA tends to suit very small operations that prioritise admin automation over access to credit or advanced banking services.
What Starling is Designed For
Starling offers a fully fledged business current account, but without brick-and-mortar branches. As a fully licensed UK bank, it delivers many of the features you’d expect from a high street provider, combined with a digital experience.
Starling focuses on security and reliability, rather than add‑ons and optional tools.
Key Characteristics of Starling
Fully licensed UK bank
Free business current account
FSCS protection on eligible deposits
Built‑in tools like invoicing and spending insights
Supports overdrafts and business lending
Suitable for sole traders and limited companies
Trade‑Offs to Consider
Less emphasis on automation tools
Limited customisation compared to ANNA
Stricter eligibility criteria for some services
Starling is often chosen by businesses that want bank‑level protection and lending access without the complexity of traditional banks.
How They Charge
ANNA Pricing
Free basic business account
Paid plans unlock additional features
Charges may apply for invoicing and cash deposits
Costs increase as admin grows
ANNA’s pricing works well for businesses that want to start free and pay more as they rely on automation tools.
Starling Pricing
Free standard business current account
No monthly account fee
Charges apply for cash handling
Lending products priced separately
Starling’s pricing is straightforward, with fewer optional upgrades to manage.
Feature Comparison: ANNA vs Starling
Everyday Banking Features
Payments and transfers: Both support Faster Payments and Direct Debits
Business debit cards: Both provide Mastercard business debit cards
Account management: Mobile apps with desktop access
Invoicing and Admin
ANNA: Automated invoicing, reminders, and admin tools built in
Starling: Invoicing available, but more basic
Accounting Integrations
ANNA: Integrates with popular accounting software and tax tools
Starling: Accounting integrations and in‑app bookkeeping features
Cash Handling
ANNA: Cash deposits via PayPoint (fees apply)
Starling: Cash deposits via the Post Office (fees apply)
Lending and Overdrafts
ANNA: No overdrafts or loans
Starling: Overdrafts and business loans available, subject to eligibility
Regulation and Protection
This is one of the key differences between ANNA and Starling.
ANNA operates as an E‑Money Institution (EMI)
Customer funds are safeguarded but not FSCS‑protected
Starling is a fully licensed UK bank
The FSCS protects eligible deposits up to £85,000
For firms that prioritise deposit protection and access to credit, Starling offers greater peace of mind.
Who Should Consider ANNA?
ANNA may be a good fit if you:
Are a freelancer or microbusiness
Want automated invoicing and admin tools
Don’t need overdrafts or loans
Are happy using an EMI
Value time-saving
Who Should Consider Starling?
Starling may suit SMEs that:
Want a fully licensed UK bank
Value FSCS protection
Need access to overdrafts or lending
Prefer a traditional current account
Want an all‑in‑one banking experience
Alternatives to ANNA and Starling
You might choose to explore other business bank accounts if your company:
Handles high volumes of cash
Needs international payment features
Wants a relationship manager
Requires industry‑specific tools
If any of the above are true, it’s worth taking the time to compare other business bank accounts to find a better fit.
