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Compare Business Bank Accounts

Compare business bank accounts online to find our best deal for you in just a few minutes.

  • Switch for free
  • No account fee
  • Award-winning providers

How to get a business bank account

Work out what your business needs

Some businesses are legally required to hold a business account.

Find the type of business account you need

It's important to know which type of account is best suited for you.

Check the terms and conditions

Make sure you are happy with all the details of your account before you apply.

Business account deals

14 results found, sorted by affiliated products first. Commission earned affects the table's sort order.
Best Business Banking Provider – British Bank Awards 2023 Finalist

Cashplus Bank Business Bank Account

Account fee
No account fee
Free Banking Duration
Free
Interest rate
0%AER
Instant online decision, no paper forms and no interview required. You will get your account number and sort code within minutes of completing your application.
The account is available to limited companies, partnerships, sole traders and charities. Funds are FSCS protected.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum balance£500,000
Permanent UK Resident
Make and receive international transactions

Card One Money Small Business Account

Account fee
£12.50per month
Free Banking Duration
3months free, then£12.50per month
Interest rate
0%AER
Provider aims to open your account within a matter of hours with no credit checks or signatures required. Pay in cash and cheques at your local Barclays, make and receive international payments and grow your business effortlessly with Card One Money.
The Card One Money Account is not covered by the Financial Services Compensation Scheme, see product FAQs for more information
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
No monthly fees, interbank FX rates and 28+ currencies

Revolut Business Free Account

Account fee
No account fee
Free Banking Duration
Free
Interest rate
0%AER
Business account with multi-currency wallets and smart debit cards. Track expenses, set up teams and permissions and accept online card payments easily. Integrated with your accounting software of choice.
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
Free day-to-day online business banking

Virgin Money M Account for Business

Account fee
No account fee
Free Banking Duration
Free
Interest rate
0%AER
Free online day-to-day business banking (excludes CHAPS and international payments). For business with annual turnover less than £1 million.
Please allow up to 72 hours from registering your business with Companies House, before starting an application.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
Moneyfacts Business Current Account 2022 5 Star Rating

Virgin Money Business Current Account

Account fee
£6.50per month
Free Banking Duration
25months free, then£6.50per month
Interest rate
0%AER
25 months' fee free day-to-day banking for start-ups and switchers (excludes CHAPS and international payments).. Includes free MasterCard business savings, debit card cashback, plus digital money management tools.
This account is available for eligible businesses with a turnover of less than 6.5m. Please allow up to 72 hours from registering your business with Companies House, before starting an application.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
No monthly fee and apply for a business account in minutes

Monzo Business Lite Account

Account fee
No account fee
Free Banking Duration
Free
Interest rate
0%AER
Monzo Business customers get free UK bank transfers, effortless accounting via receipt uploads, 24/7 customer support and money management with Pots. They can receive payments through a single link. Earn 1.60% AER (variable) on money in your Instant Access Pots. Interest paid monthly. T&Cs apply.
Must be UK Resident and a limited company or sole trader.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
FREE VAT Filing and invoicing tools

Anna Business Current Account

Account fee
No account fee
Free Banking Duration
Free
Interest rate
0%AER
Receive 1% cashback on purchases, issue multiple debit MasterCards with limits for your employees.
ANNA business account comes with instant invoice generator & HMRC recognized VAT filer. Control expenses & automate bookkeeping.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
Eligibility: Business 2+ years in age & turnover larger than 1M

Allica Bank Business Current Account

Account fee
No account fee
Free Banking Duration
Free
Interest rate
3.85%AER
A business current account with zero monthly fees, 3.85% AER (variable) instant access Savings Pot (interest paid monthly), up to 1.5% cashback on eligible card spend*, UK-based customer support and a dedicated relationship manager.
Eligibility criteria and T&Cs apply. View Business Rewards Account Terms and Conditions on Allica bank website.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident
Manage your account on their bespoke mobile app

The Co-operative Bank Business Directplus Current Account

Account fee
£7per month
Free Banking Duration
30months free, then£7.00per month
Interest rate
0%AER
Join the original ethical bank & get free everyday business banking for 30 months*. Free access to ‘Go Get Paid’ app from BankiFi to help you get paid faster, seamless integration with accounting software providers such as Sage, Xero and Quickbooks.
*New customers maintaining a balance of £1,000+. Monthly limits for cash deposits & cheques. £7 monthly fee applies if balance falls below £1,000. Charges apply for special services e.g foreign & CHAPS payments. Subject to status, eligibility & T&Cs.
More Information
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Permanent UK Resident

What is a business bank account?

Florist owner

A business bank account is used for the income and outgoings connected with the business you run. It can be used by anyone who wants to keep their business finances separate from their personal current account bank account.

As well as:

  • Claiming business expenses

  • Filling in a tax return

  • Ensuring that no one uses the business account for personal outgoings

  • Most businesses need a business bank account if they have more than one employee

  • Important for start-up businesses, small business owners (SME), registered limited companies and partnerships, sports clubs or charities

Limited companies are required to have a business bank account by law.

Sports clubs, charities and other group organisations often find it more convenient to have a business bank account, so that all money and spending is kept separate from members' personal finances.

Sole trader business banking

You don’t have to have a business bank account if you're If you're self-employed or a sole trader. But you may find it useful to keep all your business income and outgoings in one account, for ease of reference and accounting.

If you set up a limited company you are legally obliged to have a separate business bank account.

Customer Reviews

Rated 4.6 out of 5
by 22,663 people

Why do I need a business bank account?


Woman taking notes - (Image collection)

If you're a small business with one or two employees, then you will have different business banking requirements compared to a large limited company with hundreds of staff, and a complicated payroll.

Consider how you will use your business bank account:

  • Will you need a business overdraft?

  • Will you need to pay in large amounts of cash - in which case you may need to choose a bank that has a branch close by

  • Or are you able to run your business bank account remotely?

  • In which case you could opt for an online business bank account

Some business bank accounts offer free bank for accounts in credit, subject to certain terms and conditions.

Your funds are also protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.

The more complicated your banking needs, the more likely you'll to have to pay a business banking fee, or to be charged for additional services on top of the basic account offering.

Choosing the business bank account that's right for you

Think about the business you run and how you will use your business bank account.

The more sophisticated business bank accounts offer services to help you organise your invoices, receipts, and keep track of all the income and expenditure for your business.

You can also use specialist accounting software to help you with this.

Advantages of a business bank account

Woman happily typing

You can use your business bank account to build up a good business banking credit history.

In return this will enable you to borrow more cheaply in the future should you want to expand your business or acquire another company.

You can also arrange for invoices to be paid directly into your business bank account and the account may also come with business advice, support, and help to enable you to grow your company and make it a success.

The common features of a business bank account include:

  • An overdraft so you can borrow money to help manage cash flow – but look out for fees.

  • Debit cards for you and your employees.

  • Online banking so you have 24/7 access to your account via the web or an app.

  • A fee usually paid annually or monthly to cover the cost of maintaining your account.


As technology has advanced, many banks have developed their online and app features and services, to include more business-specific features. Also, since COVID-19, many businesses are manage their paperwork and banking almost exclusively online.

Read more:Business InsuranceBusiness LoansBusiness credit cards 

What are the benefits of a business bank account?

There are many benefits to opening a business bank account:

  • Get invoices paid direct to your business account.

  • Track transactions easily with categorised spending.

  • With separate personal and business accounts your tax returns are simpler.

  • Forecast future revenues with detailed spending and income data.

  • Build a credit history for your business that can help with future financing.

Man measuring a wall

How much does a business bank account cost?

Most business bank accounts charge a monthly or annual fee.

You may be charged an additional fee for ATM withdrawals, using an overdraft and receiving card payments, in particular from overseas.

It may be cheaper in the long run to pay a monthly fee for a business bank account, which includes a number of useful features and services.

The useful features of a business bank account

  • Accounting software integration that makes it easy for customers and their accountants to manage their business accounts. 

  • Receipt capture so customers can add notes and tag photos of receipts to transactions.

  • Spending insights with customisable categories for customers to keep track of  all spending, including their employees. 

How do I open a business bank account online?

With digital banks it only takes a few minutes to apply for a business bank account.

Through the power of technology banks can offer an immediate decision (unless any specific checks are needed) an account number and sort code in minutes, and within three to five working days you’ll receive your card in the mail.

In some cases, you may also be asked for specific documentation to confirm your identity but this is decided on a case by case basis. The types of documents you could be asked for include:

  • A valid identity document such as your passport or driving licence

  • A valid proof of address for both you and your business – if this is something like a utility bill it will need to be less than three months old

  • Companies House registration documents for your business

Business bank accounts - FAQs

Do I need a business bank account if I am a sole trader?

Do I need a business bank account if I am a sole trader?

You’re not legally required to have a business bank account if you’re self-employed or a sole trader but many people choose to, as it helps keep business and personal finances completely separate and easier to manage. 

On the one hand, it will be easier to separate personal and business transactions when it comes to filling in your tax return. However, you are unlikely to find a free business bank account, so you will need to factor in the cost of the monthly fees.

How much can I pay into a business bank account?

How much can I pay into a business bank account?

How much you can pay into your business bank account depends on the bank and the account you have with them, but almost all will have a set minimum and maximum balances. If you need to increase your balance you can often apply to your bank to do this.

Can I receive international payments into a business bank account?

Yes, although you may be charged a handling fee and sometimes a surcharge over and above the base currency exchange rate – and those charges will vary depending on the bank so you should check first. 

For international transactions you’ll need your bank’s Business Identifier Code (BIC) and your unique International Bank Account Number (IBAN), which come with every business bank account. 

Can I have more than one business bank account?

Can I have more than one business bank account?

Yes, although if you want more than one account you’ll have to apply for each separately. 

Can I use my personal bank account for business?

Can I use my personal bank account for business?

Although you can use your personal current account for business transactions if you are a sole trader, it is much better to keep your personal and work finances separate. You cannot use a personal current account if you are running a limited company. 

Having a business bank account will make it much easier when you come to fill in the tax return from HMRC, whether it is a self-assessment form because you are self-employed, or you are filing a company report.

Can I use my business bank account for personal items?

Can I use my business bank account for personal items?

It is better not to use your business bank account for personal items. Under HMRC tax rules, some business expenses can be offset again tax when you file your tax return.

By keeping your personal and business finances separate, you will be able to demonstrate that the spending in your business bank account is for work purposes only, and therefore qualifies for tax relief.

Can I get a business bank account with bad credit?

Can I get a business bank account with bad credit?

It’s possible to open a business account with bad credit but it may be difficult, especially if you’ve been declared bankrupt or had a County Court judgement (CCJ) against you in the last five years. 

How do I keep my business account safe from fraud?

How do I keep my business account safe from fraud?

Fraud and financial crime are happening more often, with fraudsters and scammer tactics getting more sophisticated by the day. A responsible bank account provider will have the security of your funds as their top priority, however there are also things you should do to protect yourself.

  • Make sure you keep your contact details up to date so your bank account provider can reach you if suspicious activity is seen on your account.

  • Never share your Online banking username or password with anyone over the phone, by text or email, even if the caller claims to be from your bank or the police.

  • Never share the answers to your memorable questions linked to your bank account 

  • Never share any unique verification codes or your one time passcode with anyone

  • Create passwords that are difficult to guess and don’t use personal information. It pays to use a mix of upper and lowercase letters, numbers and symbols

  • Always use different passwords for your online accounts

  • If you’re ever contacted by your bank via the phone, SMS or email and you’re not sure it is them, don’t hesitate to stop and call them back on their official customer service phone line to ensure the communication is genuine.

What does 'most popular' mean?

Business bank accounts in our table can be ranked by popularity, which we have judged according to how many clicks they got over the past 30 days. Those with the most clicks are at the top of the table, and those with the least at the bottom.

However, the most popular account might not be the account for you. You should still take time to filter and search the accounts listed to see if there’s one that better fits your needs.

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Premium Bank Accounts

What do you get with a premium bank account and is a premium bank account worth the money? We look at the different types of premium bank accounts and how they compare with ordinary current bank accounts.