Compare Business Bank Accounts

We’ve compiled a list of the top business bank accounts available in the UK. Whether you are looking to switch from your current business account or you’re setting up a new company and looking for a business bank account for the first time we’re here to help. When you find the account you’re looking for click on the “See Deal” button to go to the providers’ website and complete the application process.

Provider Details

Santander Startup Business Current Account

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  • Account FeeNone
  • Interest Rate0.1% AER
  • Available ToLtd companies, partnerships, sole traders and charities
Free banking for up to 18 months.


Barclays Startup Business Account

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  • Account FeeNone
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Free banking for 12 months


HSBC Startup Business Current Account

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  • Account FeeNone
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Free banking for 18 months


Lloyds Bank Business Account

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  • Account Fee£6.50 per month
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Free banking for 6 months if you switch to Lloyds


Metrobank Business Current Account

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  • Account FeeNone
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
No monthly account fee if your balance stays about £5,000


Natwest Business Current Account

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  • Account Fee£5 per month
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Turnover up to £2m


Royal Bank of Scotland Business Current Account

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  • Account Fee£5 per month
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Turnover up to £2m


Tide Business Current Account

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  • Account FeeNone
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
App based bank


The Co-operative Bank Business Directplus Account

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  • Account FeeNone
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities
Free banking for 18 months


Ulster Bank Business Current Account

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  • Account Fee£8 per quarter
  • Interest Rate0%
  • Available ToLtd companies, partnerships, sole traders and charities


How To Open Up A Business Bank Account

Bank in the UK are required by regulations to understand your business banking requirements, what your business does, how it is structured, who the owners are etc. The objective being to prevent criminals from abusing the banking system in the UK. As a result, any business looking to open up a bank account must provide a significant amount of information before the bank will consider the application.

 

Information Required

 

What To Look For From A Business Bank Account

Business bank accounts from traditional high st banks are quite similar. They should offer online banking facilities, a chequebook and debit/credit card, a network of high st branches and customer service via call centre and online. Where the banks try to compete with each other is on things like overdraft facilities, interest rates and monthly/annual charges. Some bank accounts also charge fees on individual transactions like withdrawing cash, paying money in, writing a cheque or sending a bank transfer. It is very important to understand how these fees are structured to enable you to choose the right bank account for you.

There are also a host of new banks based around online services and mobile apps. These banks often charge lower or no fees compared to high st banks but have no physical branches you can visit.


Bank Account Jargon Buster

 

Disclaimer: TheMoneyDaily’s service is not intended to be, nor should it be construed as financial advice. We help our readers make informed decisions and can introduce you to comparison services and provide impartial information and guides. Where appropriate, we may introduce FCA authorised partners who can provide services relating to financial products.