Compare Business Bank Accounts Today
Revolut Business
Revolut Free Business Account
- Free banking duration
- Ongoing
- Monthly fee
- No monthly fees
- Interest
- 0% AER
- Credit facility
- Loan facility Subject to terms
-
One platform for all your business finances -
Send, receive and exchange in 25+ currencies -
Pay and get paid, around the world
Revolut Business
Revolut Free Business Account
- Exchange currencies easily with no hidden fees
- Make team spending stress-free
- Get corporate spending cards that can do it all
Eligibility
To open this account
- Must be at least 18 years old
- Physical presence in the UK (National ID, Passport, Full driving license, visa along with national passport or a residence permit)
- Available for the following types of business:
- Private Limited Company
- Public Limited Company
- Limited Liability Partnership
- Limited Partnership
- Partnership
- Freelancer or soletrader
Product features
- One platform for all your business finances
- Send, receive and exchange in 25+ currencies
- Pay and get paid, around the world
- Exchange currencies easily with no hidden fees
- Make team spending stress-free
- Get corporate spending cards that can do it all
Key facts
- Credit facility - No
- Annual turnover - No limit
- Mobile app - Yes
- Direct debits - Yes
- Interest - up to 3% AER/Gross (variable) up to £2m (available on paid plans only)
ANNA
The ANNA Free Business Current Account
- Free banking duration
- Ongoing
- Monthly fee
- No monthly fees
- Interest
- 0% AER
- Credit Facility
- Loan facility Subject to terms
-
Free business current account
-
Account set up takes less than 10 minutes
-
Freedom from invoicing
ANNA
The ANNA Free Business Current Account
- Earn 1% cashback
- Payment links to receive £ directly
- Top up account with cash - pay it into your account at thousands of 'PayPoints' across the country
Eligibility:
- Start-ups, small businesses and sole traders.
- UK ID check
- Email verification
- Mobile verification
Product features:
- No more tax surprises (calculates how much money to save/put aside)
- Never miss a tax deadline (reminders)
- Connect your personal and business current accounts from other banks to ANNA to view balance and payment history in the ANNA app.
- Use Apple Pay + Google Pay
- Free direct debits
- Scheduled & recurring payments
- Earn 1% cashback
- Payment links to receive £ directly
- Top up account with cash - pay it into your account at thousands of 'PayPoints' across the country
Key facts:
- 3 products
- Pay as you go
- Business
- Big Business
Zempler
Business Go Bank Account
- Free banking duration
- Ongoing
- Monthly fee
- No monthly fees
- Interest
- 0% AER
- Credit facility
- Overdrafts available upon invitation
-
Open an account in minutes
-
Straightforward pricing - No monthly or annual fee
-
Helpful UK based telephone customer service
Zempler
Business Go Bank Account
- Spending reports that allow you categorise spending automatically
- Helpful UK telephone customer service
- Overdrafts available upon invitation
Eligibility
- UK Businesses only
- Application to be made by UK Director
- UK Director 18 years old +
- Initial Card Issue fee £9.95
Product features
- No monthly fee or annual fee
- Open an account in minutes. Simple online 5 minute application
- FSCS protection - up to £85,000
- Free to pay in bank transfers & wages
- Deposit cash 'real-time' at the Post Office
- Accounting integrations (Xero, Quickbooks & Sage)
- Invoicing tools that allow you to create and send invoices easily
- Spending reports that allow you categorise spending automatically
- Helpful UK telephone customer service
- Overdrafts available upon invitation
Key facts
- Credit facility Yes - Business overdraft available upon invitation
- Annual turnover No limit
- Mobile app Yes
- Direct debits Yes
- Interest 0% AER
Tide
Tide Business Bank Account
- Free banking duration
- Ongoing
- Monthly fee
- No monthly fees
- Interest
- 0% AER
- Credit facility
- Various credit options available
-
Award-winning business account and no monthly fees
-
Free Tide Mastercard - free purchases at home and abroad
-
FSCS protected bank account provided by ClearBank
Tide
Tide Business Bank Account
More than just an account
We automatically tag your income and spending. Customise the labels to suit your company.
Upload receipts, auto-match them to transactions, add a note if you like and it's all stored digitally.
Link your account to software like Xero, QuickBooks, Sage and more.
Keep on top of your invoices directly in our app.
Eligibility:
- Available to limited companies and sole traders
- Identity checks required
Product features:
- Effortless switching with the Current Account Switching Service
- 24/7 support team
- Sync up with your accounting software
Key facts:
- 4 products
- Free
- Plus
- Pro
- Cashback
What is a Business Bank Account?
A business bank account is a bank account that is used only for business transactions rather than personal finances. It can be opened in the name of the business, allowing payments to be made and received using the business's name.
Business bank accounts operate in a similar way to personal bank accounts, but business account holders can often access services that are unavailable to individual account holders.
Why Use Commercial Experts to Compare Business Bank Account Services?
Our service is trusted by thousands of businesses across the UK.
Compare the best business account service providers with one simple form.
Challenge us to beat any existing arrangement.
Always free to use and with no obligation.
How to Open a Business Bank Account
To open a business bank account in the UK, you must already be a registered trader with Companies House. If you've done this, the next step is to choose the bank with which you want to open your account, and then you'll need to provide the documents required by the bank.
For legal reasons, the bank you choose will need to know the tax status of your business, which means they may ask you to provide your unique tax reference (UTR) number. If yours is a new business and you have yet to apply for a UTR, you should do so before you attempt to set up your business bank account.
In the latter stages of setting up your business bank account, you will need to make an initial deposit to formally open it; the required amount varies depending on the bank you choose to bank with.
We've matched you with 4 Business Bank Accounts!
What do I Need to Open a Business Bank Account?
To open a bank account for your business, you will need to provide certain documents and information. The exact requirements may vary depending on the bank, your business, and the type of account you want to open. Common requirements include but are not limited to:
 | Proof of ID documents, such as a driving licence or passport |
 | Proof of UK address |
 | Business verification documents, such as a business license or partnership agreements |
 | Full business name and contact details |
 | Your Companies House registration number |
It's important that you check the specific requirements of the bank you plan to use and gather all of the necessary documents before approaching them to open your business bank account. Otherwise, you run the risk of facing delays or being turned away by the bank you choose.
Comparing Business Bank Account Providers
There are a few key factors to consider when comparing business bank accounts, such as monthly fees, interest rates, and minimum balance requirements.
If you typically have a positive balance in your business bank account, you may want to consider choosing an account that offers interest, whereas other businesses would benefit more from having a bank account that's more suited to continuous cash flow.
Only once you've considered all of these factors and more can you begin to start comparing the different providers out there. The whole process can be long, confusing and daunting; that's where we come in.
Regardless of the type of bank account you want or the type of industry you're in, we can find you the bank account that suits your business.
Frequently Asked Questions
Setting up a business bank account will require you to provide several documents to prove who you are and that your business is legitimate. The specific things required will depend on the given bank, but the below steps are those typically associated with setting up a business bank account.
- Choose a bank
- Check your eligibility
- Gather required documents
- Apply for an account
- Provide the required information
- Make an initial deposit
By following these steps, you should be able to set up your business bank account and start managing your business finances more effectively.
If you run a limited company, you are legally required to have a business bank account to keep your business transactions separate from your personal account.
If you are a sole trader, you are not legally required to have a business bank account, and you can use your personal bank account for all business transactions. It is, however, often recommended that sole traders have a separate business bank account to make accounting and tax filing easier in the long run.
If you run a limited company or a limited liability partnership, you are legally required to have a separate business bank account.
This requirement does not apply to businesses made up of a sole trader, although many sole traders do opt to have a business bank account for administrative purposes.