Updated: September 24th 2026
Compare Small business bank accounts
Compare monthly fees and the cost of making UK transfers.
Find accounts with invoicing tools and integrations with accounting software.
Compare options offering employee or team cards and multi-user access.
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Tide Business Bank Account
- Open in minutes
- Companies House registration via Tide
- Earn up to 4% AER with a Tide instant saver account
- Take payments with your smartphone
- Access business insurance
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Open in minutes
- Companies House registration via Tide
- Earn up to 4% AER with a Tide instant saver account
- Take payments with your smartphone
- Access business insurance
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 |
| Regulator & FRN | FCA, FRN 900843. FSCS protected. Tide Business accounts are provided by ClearBank |
| Disclaimer | *No monthly account fee. Other charges may apply. Check provider terms. |
| Best for | Fast-growing startups, SMEs that operate internationally |
|---|---|
| Eligible business types | LTD |
| Documents required | Personal identity, residential proof, and business verification documents etc |
| Monthly fee & plans | Free |
|---|---|
| UK transfers | Free |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Up to 3 per team member |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | +30 currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Get paid in 20+ currencies like a local (GBP, USD, EUR) across 70+ countries to avoid SWIFT fees.
- 0% Foreign Txn Fees: Use Visa corporate cards globally without any international transaction markups
- Sync transaction data with Xero & QuickBooks
- Convert money at real-time market rates with small, transparent markups
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | N/A |
| Regulator & FRN | FCA, FRN 900876 |
| Best for | UK businesses operating internationally especially startups, SMEs, and scaling companies that need global accounts |
|---|---|
| Eligible business types | Limited Companies, LLPs, Limited/General Partnerships, and Sole Traders |
| Documents required | Find more info here: https://help.airwallex.com |
| Monthly fee & plans | £0 or £19/month |
|---|---|
| UK transfers | Free |
| International / SWIFT payments | For major currencies: 0.5% |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Free issuance for up to 10 company cards on Explore account |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | 20+ currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- £250 Online Account Opening Incentive
- Earn interest on every penny up to up to 4.00% AER variable
- Integration with Xero
- Make international payments in up to seven major currencies, with option to open in EUR or USD accounts
- Manage your account through the app or on desktop
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 |
| Regulator & FRN | FCA, PRA 575105 |
| Disclaimer | *The £5 monthly fee is refunded if you keep an average balance of £35,000 or more. The fee is charged monthly and refunded if your average cleared balance during the previous calendar month was at least £35,000. Additional fees may apply for specific transactions like CHAPS, SWIFT, and SEPA payments. ** Earn 4.00% AER variable on balances up to £35,000 (includes a 0.50% bonus for 3 months with a £35,000 or more average balance), and 0.10% AER variable for balance above £35,000 *** The £250 cash offer is available to new customers who open an account online. Deposit £10,000 or more externally within 30 days and maintain a £10,000 average balance for 3 months. Offer ends 30 Sep 2026. T&Cs apply. Subject to eligibility. |
| Best for | SME businesses |
|---|---|
| Eligible business types | Ltd, LLP, Partnership |
| Documents required | Photo ID |
| Monthly fee & plans | Zero (Fee free for 12 months for new accounts only and £5 thereafter) |
|---|---|
| UK transfers | Free |
| International / SWIFT payments | The account supports international payments and multi-currency capabilities. Additional fees apply for CHAPS, SWIFT and SEPA payments |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Visa Business Debit Card |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | GBP + 7 currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Open in minutes
- Companies House registration via Tide
- Earn up to 4% AER with a Tide instant saver account
- Take payments with your smartphone
- Access business insurance
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 |
| Regulator & FRN | FCA, FRN 900843. FSCS protected. Tide Business accounts are provided by ClearBank |
| Disclaimer | *No monthly account fee. Other charges may apply. Check provider terms. |
| Best for | Fast-growing startups, SMEs that operate internationally |
|---|---|
| Eligible business types | LTD |
| Documents required | Personal identity, residential proof, and business verification documents etc |
| Monthly fee & plans | Free |
|---|---|
| UK transfers | Free |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Up to 3 per team member |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | +30 currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- World Card 1.2% Cashback
- Exclusive £80 Sign-Up Offer
- 0.3% FX rate for 180 days (new users)
- 100GBP card cashback for the first 3 month
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Regulator & FRN | FCA, FRN 900508 |
| Disclaimer | *No monthly account fee. Other charges may apply. Check provider terms. **Other charges may apply, including transaction fees, cash deposits, card fees, international payments, FX charges or paid add-ons. Check the provider’s terms before applying. |
| Best for | UK businesses operating internationally |
|---|---|
| Eligible business types | Ltd, Sole Trader, Partnership, LLP |
| Documents required | Personal identity, residential proof, and business verification documents etc |
| Monthly fee & plans | Free |
|---|---|
| UK transfers | Free |
| International / SWIFT payments | Payment fee is £4, and the conversion rate margin is 0.5% |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Free issuance for up to 25 company cards |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | 100+ currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Fast opening
- No hard credit check
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Regulator & FRN | FCA, FRN 900594 |
| Disclaimer | *No monthly account fee. Other charges may apply. Check provider terms.**Rate is variable. |
| Best for | Fast-growing startups, SMEs that operate internationally |
|---|---|
| Eligible business types | Ltd, Sole Trader, Partnership, LLP |
| Documents required | Personal identity, residential proof, and business verification documents etc |
| Monthly fee & plans | Free |
|---|---|
| UK transfers | Free |
| International / SWIFT payments | £5 per SWIFT transaction |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | N/A % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| UK branches |
|
| Multi-currency |
|
| Supported Currency | 100+ currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Send, spend, exchange 30+ currencies
- Accountancy integrations
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 |
| Regulator & FRN | FCA, FRN 900562 |
| Promotion | *Get a £100 welcome bonus when you sign up through our link and add at least £0.01 to your new account by 31/12/2026. Fees, promotion terms and T&Cs apply |
| Disclaimer | **Other charges may apply, including transaction fees, cash deposits, card fees, international payments, FX charges or paid add-ons. Check the provider’s terms before applying. |
| Best for | Fast-growing startups, SMEs that operate internationally |
|---|---|
| Eligible business types | Ltd, LLP, Partnership |
| Documents required | Personal identity, residential proof, and business verification documents etc |
| Monthly fee & plans | £10 |
|---|---|
| UK transfers | **10 month free, then 20p |
| International / SWIFT payments | International starting from £5 |
| Overdraft Available (EAR) |
|
| Overdraft rate (EAR) | - % |
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Up to 3 per team member |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | 30+ currencies |
Business bank accounts for small businesses: what to consider
A business bank account can help small businesses keep business transactions separate, manage day-to-day payments and maintain clearer financial records.
The right account will depend on how your business operates. A freelancer making a small number of transfers each month may have different requirements from a shop handling cash or a growing business with several employees.
When comparing small business bank accounts, look beyond the monthly fee and consider the transactions, tools and account features you are likely to use regularly.
How to choose a business bank account for a small business
There is no single business account that will suit every small business. Comparing the features that are relevant to your day-to-day activity can help you understand the differences between available accounts.
Monthly fees and transaction costs
Some business accounts have no monthly account fee, while others charge a fixed monthly amount.
Other charges may apply for transfers, cash deposits, ATM withdrawals, international payments, additional cards or optional services.
Consider both the regular account fee and the cost of the transactions your business expects to make.
Cash deposits
If your business regularly receives cash, check whether the account allows cash deposits, where deposits can be made and what charges or limits apply.
Cash deposit facilities vary between providers. This can be particularly relevant for businesses such as shops, cafés, salons and other businesses that regularly accept cash payments.
Accounting and invoicing tools
Some business accounts integrate with accounting software or include tools for invoicing, expense management and transaction categorisation.
These features may help simplify routine administration and bookkeeping, particularly if your business processes a large number of transactions.
Check which integrations and tools are included and whether additional charges apply.
Multiple users and employee cards
If other people need access to the account, check whether the provider supports additional users or employee cards.
Some accounts also offer spending controls or different user permissions, which may be useful when employees or business partners need to make payments without having the same level of account access.
International payments
Businesses that receive money from overseas customers, pay international suppliers or regularly spend in foreign currencies should compare international payment and foreign exchange costs.
Some accounts also provide multi-currency functionality or local account details for selected currencies.
The features, supported currencies and charges vary between providers.
Account protection
Check how money held in the account is protected.
Eligible deposits held with a UK-authorised bank, building society or credit union may qualify for Financial Services Compensation Scheme (FSCS) protection, subject to the scheme's eligibility requirements and applicable protection limit.
Other types of providers may protect relevant customer funds through safeguarding arrangements rather than FSCS deposit protection. Check the provider's regulatory and protection information before opening an account.
Which account features matter for different small businesses?
Different types of small business may place greater importance on different account features.
Freelancers and consultants
Low transaction costs, invoicing and accounting integrations
Shops and hospitality businesses
Cash deposits, payment facilities and employee cards
Online businesses
Digital banking, accounting integrations and payment tools
Businesses with employees
Multiple users, additional cards and spending controls
International businesses
International transfers, foreign exchange costs and multi-currency features
Growing businesses
Multiple users, accounting tools and access to additional banking services
These are examples rather than requirements. The features that matter will depend on how your individual business receives and spends money.
Can small businesses get a free business bank account?
Some providers offer business accounts with no monthly account fee, including accounts available to small businesses.
However, no monthly fee does not necessarily mean that every service is free.
Depending on the account, charges may apply for:
Some accounts may also offer a fee-free introductory period before standard monthly charges begin.
When comparing free business bank accounts, check the full fee structure alongside the features your business expects to use.
What to check before applying for a small business bank account
Before applying, consider:
Checking these factors against the way your business actually operates can make it easier to compare accounts on a like-for-like basis.
The MoneyCompare Recap for
Business Current Accounts
Monthly fee
Fee Transfers / Month:
Interest Rate (AER):
Any questions?
Consider the account's monthly fee, transaction charges and the features your business is likely to use. Depending on the business, this may include cash deposits, accounting integrations, employee cards or international payments.
Yes, some providers accept new businesses, subject to their eligibility and verification requirements. The information required will depend on the provider and the structure of the business.
Yes, some business accounts have no monthly account fee. Other charges may still apply for transactions and services such as cash deposits, international payments or additional cards, so check the full fee structure.
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Any doubt?
No. Sole traders and freelancers are not legally required to have a separate business account — you can use a personal one. A limited company, however, is a separate legal entity and must keep its money separate, so it does need a dedicated business account. Even for sole traders, a separate account makes bookkeeping, tax returns and Making Tax Digital far simpler.
Opening an account may involve identity, fraud-prevention and eligibility checks. Some providers may carry out a soft credit search. A hard credit search may be carried out if you request an overdraft or another credit facility. Check the provider's terms before applying.
You'll typically need proof of identity, proof of address, and details of your business activity and expected turnover; limited companies also need their Companies House number and director/PSC details. Digital-first providers can approve you in minutes to 24 hours fully online, while high-street banks usually take several days to a few weeks. For a limited company, allow up to around 72 hours after registering with Companies House before applying.
Deposits held with a UK banking licence are FSCS-protected up to £120,000 per banking licence (since 1 December 2025); many app-based 'e-money' accounts are not FSCS-protected but safeguard your money in separate accounts. There's no limit on how many business accounts you can hold, and because cover is per licence, spreading large balances across separate licensed banks increases your total protection.
It varies. Many app-based accounts don't accept cash at all, while others let you pay in at the Post Office or PayPoint for a fee (often a percentage with a minimum charge). If your business is cash-heavy — for example hospitality or retail — check the cash deposit limits and fees carefully, or choose a provider with branch or Post Office access.