Updated: November 2nd 2026
Best Free Business accounts in 2026
- Compare business accounts with no monthly fee and explore available features side by side.
- Look beyond the monthly cost to understand transaction charges, payment options and account conditions.
Our verified partners Our partners
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Free business account, open in minutes in the app
- Companies House registration via Tide
- Instant Saver: up to 4.25% AER for 4 months (conditions apply)
- Free Making Tax Digital tools
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 (across all ClearBank accounts) |
| Regulator & FRN | Tide Platform Ltd (FCA, FRN 900843). Accounts powered by ClearBank Ltd (PRA/FCA, FRN 754568) |
| Disclaimer | *Free plan has no monthly fee and includes 5 bank transfers per month; paid plans from £12.49/month. International card payments on the Free plan carry a 2.75% FX fee. Tide is not a bank: Tide Business Accounts are powered by ClearBank Ltd and eligible deposits are protected by the FSCS up to £120,000 across all ClearBank accounts. Some members hold e-money accounts with PrePay Technologies Ltd, which are safeguarded rather than FSCS-protected. Instant Saver rates: up to 4.25% AER for 4 months with a CASS switch of £10,000+, then plan rate (1.5% AER on Free). T&Cs apply. |
| Best for | Sole traders, freelancers and small UK businesses |
|---|---|
| Eligible business types | Sole traders and limited companies |
| Documents required | Valid photo ID and selfie verification in the app |
| Monthly fee & plans | Free; Smart £12.49, Pro £27.49, Max £69.99 per month |
|---|---|
| UK transfers | 5/month on Free, 30 on Smart, unlimited on Pro and Max |
| Overdraft Available (EAR) |
|
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | 1 business card; team cards on paid plans (1–3) |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | GBP account; international payments available |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Global Accounts to collect and hold 20+ currencies
- Up to 10 free multi-currency company cards
- No international fees on Airwallex card spending
- Sync with Xero and QuickBooks
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | Not FSCS-protected (funds safeguarded) |
| Regulator & FRN | Airwallex (UK) Limited, Electronic Money Institution (FCA, FRN 900876) |
| Disclaimer | *Explore plan: £19/month (ex VAT), waived if you deposit at least £10,000 a month or hold a balance of at least £10,000. Free domestic transfers in GBP, EUR and CHF; SWIFT transfers £10–20; FX conversions 0.5% above interbank for major currencies, 1% for others. Additional spend users from £5/month. Airwallex is not a bank: funds are held as e-money and safeguarded, not protected by the FSCS. T&Cs apply. |
| Best for | UK businesses that pay or get paid in multiple currencies |
|---|---|
| Eligible business types | Limited companies, LLPs, partnerships and sole traders |
| Documents required | Photo ID, proof of address and business details (e.g. Companies House number) |
| Monthly fee & plans | Explore £0 or £19/month; Grow £49/month (ex VAT) |
|---|---|
| UK transfers | Free |
| International / SWIFT payments | Local transfers to 120+ countries; SWIFT £10–20 per transfer; FX 0.5% (major) / 1% (other) above interbank |
| Overdraft Available (EAR) |
|
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | Up to 10 free company cards on Explore |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | 20+ currencies |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Instant Saver: 3.25% AER for new members, up to 4.25% with a CASS switch of £10,000+
- Instant access: no notice period, no withdrawal penalty
- Savings FSCS-protected via ClearBank
- Access business insurance
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | £120,000 per depositor, across all ClearBank accounts (current and savings combined) |
| Regulator & FRN | Tide Platform Ltd (FCA, FRN 900843). Current and savings accounts powered by ClearBank Ltd (PRA/FCA, FRN 754568) |
| Promotion | Instant Saver: 3.25% AER for new members, up to 4.25% AER with a CASS switch of £10,000+, for 4 months |
| Disclaimer | *New Tide members get 3.25% AER (variable), rising to up to 4.25% AER (variable) with a full CASS switch transferring £10,000+ into a Tide Business Account within 14 days of joining. The promotional rate applies for 4 months, then the Instant Saver rate of your Tide plan applies. Rates are tiered, with the top rate on balances up to £1M. A Tide Business Account is required. Free plan has no monthly fee and includes 5 bank transfers per month (20p each after); paid plans from £12.49/month. Tide is not a bank: current and savings accounts are powered by ClearBank Ltd and eligible deposits are protected by the FSCS up to £120,000 across all ClearBank accounts. Rates correct as of 15/10/2026. T&Cs apply. |
| Best for | Sole traders and small UK businesses who want to earn interest on spare cash |
|---|---|
| Eligible business types | Sole traders and limited companies (Tide Business Account required) |
| Documents required | Valid photo ID and selfie verification in the app |
| Monthly fee & plans | Free; Smart £12.49, Pro £27.49, Max £69.99 per month |
|---|---|
| UK transfers | 5/month on Free (then 20p each), 30 on Smart, unlimited on Pro and Max |
| Overdraft Available (EAR) |
|
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | 1 business card; team cards on paid plans (1–3) |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | GBP account; international payments available |
Monthly Fee:
Fee Transfers / Month:
Interest Rate (AER):
Features:
Features:
- Corporate Visa cards linked to multi-currency IBAN accounts (GBP, EUR, USD + 7 more)
- 300 free virtual cards and unlimited physical cards on the free plan
- Real-time spending limits and expense management
- Open to sole traders and companies
| EMI safeguarded |
|
|---|---|
| FSCS protection |
|
| Limit FSC Protection | Not FSCS-protected (funds safeguarded) |
| Regulator & FRN | Wallester UK Ltd, Electronic Money Institution (FCA, FRN 1040163) |
| Disclaimer | *Free plan has no monthly fee; Premium €199/month and Platinum €999/month. Wallester Business offers multi-currency IBAN accounts (10 currencies) with Visa corporate cards. Card spend in currencies you don't hold: Visa exchange rate + 2%. ATM withdrawals: 2% (min €2) in Europe, €2 + 2% elsewhere. Physical card delivery from €5. Accounting integrations (Xero, QuickBooks) are available on Premium and above. Wallester UK Ltd is authorised by the FCA as an Electronic Money Institution (FRN 1040163): funds are safeguarded, not protected by the FSCS. T&Cs apply. |
| Best for | Businesses issuing many corporate cards for team, online and subscription spend |
|---|---|
| Eligible business types | Sole traders, limited companies, LLPs and partnerships |
| Documents required | Photo ID, phone verification and business registration details |
| Monthly fee & plans | Free €0; Premium €199/month; Platinum €999/month |
|---|---|
| UK transfers | GBP account to send and receive payments; bulk payments supported |
| International / SWIFT payments | International and SEPA payments supported. Card spend in currencies you don't hold: Visa rate + 2% |
| Overdraft Available (EAR) |
|
| Mobile App |
|
|---|---|
| Multi Users / team cards |
|
| Invoicing tools |
|
| Tax tools (MTD / VAT) |
|
| Card included | 300 virtual cards on Free (3,000 Premium, 18,000 Platinum); unlimited physical cards (delivery from €5) |
| UK branches |
|
| Multi-currency |
|
| Supported Currency | Hold 10 currencies: GBP, EUR, USD, SEK, NOK, DKK, PLN, CZK, HUF, RON |
What Does a Free Business Account Include?
A free business account typically offers a basic plan with no fixed monthly subscription fee. However, the services included can vary significantly between providers, and additional charges may apply depending on how you use the account.
Everyday payments: Many accounts support UK bank transfers, direct debits and other common transactions. Some providers include a limited number of free payments before additional fees apply.
Digital banking: Mobile apps and online dashboards can help businesses monitor balances, review transactions and manage payments without visiting a branch.
Business cards: Depending on the provider, accounts may include physical or virtual cards for everyday spending. Card issuance, replacements and certain transactions may carry additional charges.
Additional services: Features such as invoicing, accounting integrations and international payments may be available, although some require a paid plan or separate fees.
Understanding the Costs of a Free Business Account
Transaction and Transfer Fees
Some free business accounts include a certain number of UK transfers at no additional cost, while others charge per transaction. Businesses making frequent payments to suppliers or receiving large numbers of customer transfers should review the provider's pricing structure carefully.
International transfers may also involve separate fees, currency conversion charges or exchange rate markups. Understanding these costs can help you estimate how much the account might cost during regular use.
Cash Deposits and Withdrawals
If your business handles physical cash, check whether the account supports cash deposits and where these can be made. Some digital providers offer deposits through third-party services, while others may not support cash deposits at all.
Fees may apply to deposits, ATM withdrawals or transactions exceeding specific limits. For cash-intensive businesses, these charges can make a significant difference to the overall cost of an otherwise free account.
Optional Features and Paid Upgrades
Free plans often provide essential banking functions, but additional tools may be reserved for paid subscriptions. These can include advanced expense management, additional user access, accounting integrations or higher transaction allowances.
Before upgrading, consider whether the extra features would genuinely benefit your business. A basic plan may be sufficient for straightforward banking needs, while businesses with more complex requirements might find value in additional services.
FAQ
A free business account generally means there is no fixed monthly account fee. However, providers may charge for certain services, including transfers, cash deposits, international payments or additional cards. Always review the pricing information and account terms before applying.
Many free business accounts allow you to receive payments from customers and make everyday transfers. Available payment methods, transaction limits and charges depend on the provider. Check that the account supports the payment services your business requires.
Many providers offer different account plans, allowing businesses to move from a free option to a paid subscription with additional features. Upgrade availability, pricing and included services vary, so it's worth checking the provider's terms before opening an account.
Who wrote this content?
Written and reviewed by our team
Every MoneyCompare guide is written by people who follow the UK banking market every day, and checked against the providers’ own terms before it is published.
We review our content regularly, so fees, features and protection details stay as accurate as possible.
Senior Finance Editor
“Claudio Tuteri is an economist and financial analyst specialising in UK financial products. He analyses features, costs, returns and terms to help readers understand and compare their options with clarity.”
Our verified bank partners
We compare products from selected UK providers