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Compare Business Start Up Current Accounts - Ordered by A-Z

Exclusive

Limited time offer: Apply and save £9.95 with no card issue fee. Offer ends 5/12/22

Cashplus

Cashplus Business Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Upon invitation


Great for

  • No monthly or annual account fees. FSCS protected up to £85,000.
  • No credit check required. Simple instant online application, apply in minutes
  • Cash deposits available via the Post Office. Mobile App and Online Banking available.

But be aware that

  • First 3 payments sent each month are FREE & £0.30 for every transfer thereafter. Card transactions in the UK are free
  • Overdraft available subject to approval
Free everyday business banking for 30 months with The Co-operative Bank Business Directplus Current Account, plus free access to the Go Get Paid app

Co-operative Bank

Business Directplus Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £7

  • Overdraft

    Upon invitation


Great for

  • 30 months free everyday business banking if a credit balance of £1,000 or more is maintained. No charges for all automated credits and cash withdrawals, deposit £1,000 in cash and 25 cheques per charging period for free via Post Office/branch
  • Co-operative Bank business customers get free, unlimited access to the Go Get Paid app - the fast, simple and secure way to get paid
  • Free seamless integration with online accounting software providers e.g. Sage, Xero, QuickBooks and more, to help save time on financial admin & reporting. Option to add merchant service payment solutions from Fiserv (additional fees apply)

But be aware that

  • Free for the first 30 months, only if you maintain a credit balance of £1,000. £7 monthly fee applies after 30 months, and if your balance falls below £1,000 during the introductory period
  • Additional charges apply for cash and cheque transactions and other special services e.g. foreign and CHAPS payments

Free everyday business banking for 30 months with The Co-operative Bank Business Directplus Current Account, plus free access to the Go Get Paid app

Co-operative Bank

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £10

  • Overdraft

    Upon Invitation


Great for

  • Free everyday business banking includes all automated debits, credits, ATM cash withdrawals and debit card purchases. UK call centres, bank in branches, local post offices as well as digital banking. Apply in minutes. Get a decision in 5 working days
  • Co-operative Bank business customers get free, unlimited access to the Go Get Paid app - the fast, simple and secure way to get paid
  • Free seamless integration with online accounting software providers e.g. Sage, Xero, QuickBooks and more, to help save time on financial admin & reporting. Option to add merchant service payment solutions from Fiserv (additional fees apply)

But be aware that

  • Free for the first 30 months - £10 monthly fee applies after the introductory period ends
  • For Sole Traders and Single Directors only
  • Additional charges apply for cash and cheque transactions and other special services e.g. foreign and CHAPS payments

Free everyday banking for the first 18 months

NatWest

Start Up Business Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • Fee free banking for 18 months, with no monthly fee
  • Free access to the UK's best bookkeeping software. Used by over 100,000 small businesses to monitor cashflow, send invoices and record expenses, FreeAgent could help you run your business more efficiently and stay on top of your tax obligations
  • Natwest have programmes and schemes like Business Builder and Natwest's Local Enterprise Managers to help you take the next step. You can tap into their support to move your business forward. You'll also have access to MentorDigital

But be aware that

  • Business must have been trading for less than 1 year and have a turnover of less than £1m. You must be over 18 and have the right to be self-employed in the UK
  • At the end of the 18 month fee free banking period, you’ll move to Natwest's Standard Tariff, with no minimum monthly charge
  • Business overdrafts are subject to approval. If you apply for credit facilities, security may be required and product fees may apply

Free everyday banking for the first 24 months

Royal Bank of Scotland

Start up Business Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • Fee free banking for 24 months, with no monthly fee
  • Free access to the UK's best bookkeeping software. Used by over 100,000 small businesses to monitor cashflow, send invoices and record expenses, FreeAgent could help you run your business more efficiently and stay on top of your tax obligations
  • RBS have programmes and schemes like Business Builder and RBS Local Enterprise Managers to help you take the next step. You can tap into their support to move your business forward. You'll also have access to MentorDigital

But be aware that

  • Business must have been trading for less than 1 year and have a turnover of less than £1m. You must be over 18 and have the right to be self-employed in the UK
  • At the end of the 24 month fee free banking period, you’ll move to RBS's Standard Tariff, with no minimum monthly charge
  • Business overdrafts are subject to approval. If you apply for credit facilities, security may be required and product fees may apply

Best Business Banking Provider 2019, 2020 & 2021 at The British Bank Awards - Built to help you run your business. Apply for a free account in minutes and join over 450,000 UK businesses who have changed the way they bank

Starling Bank

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Subject to the individual business' circumstances


Great for

  • No monthly fees. No fees for ATM withdrawals in the UK and overseas. You won’t get charged for card payments abroad and you get Mastercard's globally accepted exchange rate
  • SMEs, Limited Companies and Sole Traders. Apply for a free digital business account in minutes and rest easy, knowing your eligible deposits are protected up to £85,000 by the FSCS
  • Free QuickBooks, Xero & FreeAgent integrations. Add Starling’s Bookkeeping Toolkit for £7pm, the first month is free - organise receipts, automatically categorise transactions, keep track of tax and invoices. Sole Traders get HMRC Tax estimates

But be aware that

  • You can deposit cash at the Post Office for a 0.7% fee (minimum £3). Cheques up to £1,000 can be deposited digitally in-app, cheques above that amount can be deposited via post, both options are free*
  • *Daily amount limit for deposits is £5,000 per day for Businesses and £2,000 for Sole Traders
  • All Directors with access to the account must be UK residents and your business must be based in the UK. You will need to provide evidence of your trading activities so your business can be easily verified

Exclusive

Tide Business Bank Account – provided by Clearbank. 5 months free transfers when opening a business bank account

Tide

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    No overdraft facility



Great for

  • Sole Traders, SMEs and Limited Companies. Apply online in minutes with easy set up all in one place. No credit checks or paperwork needed. Up to £85,000 of your eligible deposits protected by the FSCS
  • Control and simplify team spend with Expense Cards. Apply for up to 50 cards per business, view itemised transactions and attach receipts all in the app. Syncs with your accounting software
  • All your business finance admin needs in one secure app. Set up direct debits, categorise your transactions and create and manage invoices all via the app. Seamless integration with Sage, QuickBooks, Xero and more for easy reporting

But be aware that

  • To apply for a registered business account you need to be registered with Companies House as a director of that company
  • Bank transfers in or out via UK Faster Payments/BACS/CHAPS are charged at 20p each
  • Cash deposits via the Post Office cost £2.50 for deposits up to £500 or 0.5% of the total deposit amount for deposits over £500

Virgin Money

Virgin Money M Account for Business

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • Free day-to-day online business banking (excluding CHAPS and international payments)
  • Debit card cashback - use your debit card and automatically get 0.25% cashback with no cap. You can also apply for access to £1,000 of planned borrowing (overdraft)
  • Plus it includes Virgin free insights dashboard M-Track. Manage all your business data in one place, including data from Sage, Xero, Google, Shopify and more

But be aware that

  • Designed for businesses with an annual turnover less than £1m
  • Must be based and operate in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old

Virgin Money

Virgin Money Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £6.50

  • Overdraft

    Rate is negotiable


Great for

  • Debit Card Cashback - automatically earn up to £500 per calendar year when using your Debit Card for purchases. Some exclusions apply
  • MasterCard Business Savings - get discounts when you use your Debit Card at participating retailers. Terms apply
  • Digital Money Management Tools - helping you manage cash flow, budgets and invoices

But be aware that

  • You must have a turnover of less than £6.5m per annum
  • Must be based and operate in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old

Compare Business switcher current accounts - Ordered by A-Z

Exclusive

Limited time offer: Apply and save £9.95 with no card issue fee. Offer ends 5/12/2022

Cashplus

Cashplus Business Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Upon invitation


Great for

  • No monthly or annual account fees. FSCS protected up to £85,000
  • No credit check required. Simple instant online application, apply in minutes
  • Cash deposits available via the Post Office. Mobile App and Online Banking available

But be aware that

  • First 3 payments sent each month are FREE & £0.30 for every transfer thereafter. Card transactions in the UK are free
  • Overdraft available subject to approval
Free everyday business banking for 30 months with The Co-operative Bank Business Directplus Current Account, plus free access to the Go Get Paid app

Co-operative Bank

Business Directplus Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £7

  • Overdraft

    Upon invitation


Great for

  • 30 months free everyday business banking if a credit balance of £1,000 or more is maintained. No charges for all automated credits and cash withdrawals, deposit £1,000 in cash and 25 cheques per charging period for free via Post Office/branch
  • Co-operative Bank business customers get free, unlimited access to the Go Get Paid app - the fast, simple and secure way to get paid
  • Free seamless integration with online accounting software providers e.g. Sage, Xero, QuickBooks and more, to help save time on financial admin & reporting. Option to add merchant service payment solutions from Fiserv (additional fees apply)

But be aware that

  • Free for the first 30 months, only if you maintain a credit balance of £1,000. £7 monthly fee applies after 30 months, and if your balance falls below £1,000 during the introductory period
  • Additional charges apply for cash and cheque transactions and other special services e.g. foreign and CHAPS payments

Free everyday business banking for 30 months with The Co-operative Bank Business Directplus Current Account, plus free access to the Go Get Paid app

Co-operative Bank

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £10

  • Overdraft

    Upon Invitation


Great for

  • Free everyday business banking includes all automated debits, credits, ATM cash withdrawals and debit card purchases. UK call centres, bank in branches, local post offices as well as digital banking. Apply in minutes. Get a decision in 5 working days
  • Co-operative Bank business customers get free, unlimited access to the Go Get Paid app - the fast, simple and secure way to get paid
  • Free seamless integration with online accounting software providers e.g. Sage, Xero, QuickBooks and more, to help save time on financial admin & reporting. Option to add merchant service payment solutions from Fiserv (additional fees apply)

But be aware that

  • Free for the first 30 months - £10 monthly fee applies after the introductory period ends
  • For Sole Traders and Single Directors only
  • Additional charges apply for cash and cheque transactions and other special services e.g. foreign and CHAPS payments

NatWest

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • No minimum monthly charge. Only pay for what you use
  • Full Current Account Switch Service completed within 7 business days (includes your Direct Debits and standing orders). Criteria Apply
  • Access to a dedicated Relationship Manager (turnover and eligibility criteria apply)

But be aware that

  • Only for businesses who have a turnover above £1m and have been trading for under or over a year or turnover below £1m and have been trading over a year
  • Registered business address must be in the UK, Channel Islands, Isle of Man or Gibraltar or you should be registered for tax purposes in one of those jurisdictions
  • You'll need 6 months of bank or building society statements if you're switching accounts to Natwest

Royal Bank of Scotland

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • No minimum monthly charge. Only pay for what you use
  • Full Current Account Switch Service completed within 7 business days (includes your Direct Debits and standing orders). Criteria Apply
  • Access to a dedicated Relationship Manager (turnover and eligibility criteria apply)

But be aware that

  • Only for businesses who have a turnover above £1m and have been trading for under or over a year or turnover below £1m and have been trading over a year
  • Registered business address must be in the UK, Channel Islands, Isle of Man or Gibraltar or you should be registered for tax purposes in one of those jurisdictions
  • You'll need 6 months of bank or building society statements if you're switching accounts to RBS

Best Business Banking Provider 2019, 2020 & 2021 at The British Bank Awards - Built to help you run your business. Apply for a free account in minutes and join over 450,000 UK businesses who have changed the way they bank

Starling Bank

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Subject to the individual business' circumstances


Great for

  • No monthly fees. No fees for ATM withdrawals in the UK and overseas. You won’t get charged for card payments abroad and you get Mastercard's globally accepted exchange rate
  • SMEs, Limited Companies and Sole Traders. Apply for a free digital business account in minutes and rest easy, knowing your eligible deposits are protected up to £85,000 by the FSCS
  • Free QuickBooks, Xero & FreeAgent integrations. Add Starling’s Bookkeeping Toolkit for £7pm, the first month is free - organise receipts, automatically categorise transactions, keep track of tax and invoices. Sole Traders get HMRC Tax estimates

But be aware that

  • You can deposit cash at the Post Office for a 0.7% fee (minimum £3). Cheques up to £1,000 can be deposited digitally in-app, cheques above that amount can be deposited via post, both options are free*
  • *Daily amount limit for deposits is £5,000 per day for Businesses and £2,000 for Sole Traders
  • All Directors with access to the account must be UK residents and your business must be based in the UK. You will need to provide evidence of your trading activities so your business can be easily verified

Exclusive

Tide Business Bank Account – provided by Clearbank. 5 months free transfers when opening a business bank account

Tide

Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    No overdraft facility



Great for

  • Sole Traders, SMEs and Limited Companies. Apply online in minutes with easy set up all in one place. No credit checks or paperwork needed. Up to £85,000 of your eligible deposits protected by the FSCS
  • Control and simplify team spend with Expense Cards. Apply for up to 50 cards per business, view itemised transactions and attach receipts all in the app. Syncs with your accounting software
  • All your business finance admin needs in one secure app. Set up direct debits, categorise your transactions and create and manage invoices all via the app. Seamless integration with Sage, QuickBooks, Xero and more for easy reporting

But be aware that

  • To apply for a registered business account you need to be registered with Companies House as a director of that company
  • Bank transfers in or out via UK Faster Payments/BACS/CHAPS are charged at 20p each
  • Cash deposits via the Post Office cost £2.50 for deposits up to £500 or 0.5% of the total deposit amount for deposits over £500

Virgin Money

Virgin Money M Account for Business

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    No monthly fee

  • Overdraft

    Rate is negotiable


Great for

  • Free day-to-day online business banking (excluding CHAPS and international payments)
  • Debit card cashback - use your debit card and automatically get 0.25% cashback with no cap. You can also apply for access to £1,000 of planned borrowing (overdraft)
  • Plus it includes Virgin free insights dashboard M-Track. Manage all your business data in one place, including data from Sage, Xero, Google, Shopify and more

But be aware that

  • Designed for businesses with an annual turnover less than £1m
  • Must be based and operate in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old

Virgin Money

Virgin Money Business Current Account

  • Interest

    0% AER interest on in-credit balances

  • Monthly fee

    £6.50

  • Overdraft

    Rate is negotiable


Great for

  • Debit Card Cashback - automatically earn up to £500 per calendar year when using your Debit Card for purchases. Some exclusions apply
  • MasterCard Business Savings - get discounts when you use your Debit Card at participating retailers. Terms apply
  • Digital Money Management Tools - helping you manage cash flow, budgets and invoices

But be aware that

  • You must have a turnover of less than £6.5m per annum
  • Must be based and operate in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old

Account opening criteria

High Interest, Package, Reward & Standard current accounts

  • You must be 18 years of age or older

  • You must not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last six years or be in the process of doing so (Does not apply to M&S Bank)

  • You are a UK resident

Student accounts

  • You’re aged 18 years or over

  • You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years

  • You don’t already have a student account with another Banking institution

Children’s accounts

  • You must be aged between 11 and 18 years old

  • You must be living permanently in the UK

Credit building

  • You must be aged 18 or over to apply

  • You must have a residential address in the UK

Before applying, please always check each banks specific opening criteria on their website.