Business Bank Accounts for May 2022

Business Bank Accounts

TOP PICKS
BUSINESS BANK ACCOUNTS

Starling Business Account

Starling Business Bank Account

  • Free to open - join over 400,000 businesses
  • No monthly fees or UK payment charges
  • 24/7 UK support
  • Break down your monthly spending and automatically sort it by category
  • Instant payment notifications
  • Digital receipts
  • Separate spaces for separate costs
  • Seamlessly link your account with QuickBooks, Xero and FreeAgent

Open Account

Tide Bank

Tide Business Account

  • Free account option
  • Mobile and web access
  • Instant notifications
  • Upload and auto-math receipts
  • Label income and expenditure into categories
  • Create professional invoices - no need for separate software
  • Get paid by direct debit
  • Integrate with Xero, Sage, Kashflow, FreeAgent, QuickBooks, ClearBooks and Crunch
  • Real-time business forecasts
  • Access legal advice 24/7 with Tide Plus

Open Account

Card One Money

Card One Money Business Account

  • No credit checks - Apply in 10 minutes
  • Same day account opening
  • Online and mobile account with 24/7 access
  • Instant payments in and out with faster payments
  • Four additional cards for business use
  • Manage and pay bills, invoices, wages and more
  • Open banking API integration with Corporate account

Open Account

Revolut

Revolut Business Account

  • Free account option
  • Multi-currency accounts
  • Save money on transfers, payments and FX
  • Accept payments easily worldwide
  • Physical and virtual company debit cards
  • Create and send professional invoices in minutes
  • Get paid in-person with QR codes
  • Install plugins in just a few clicks, like WooCommerce and more

Open Account

Anna Money

Anna Money Business Account

  • Free account option
  • Get a business current account in less than 10 minutes - 3 mins if you have id ready!
  • Issue a virtual card right after signup
  • Get paid online with payment link and webpage
  • Pay with your phone using Apple Pay or Google Pay
  • Give co-workers their own ANNA debit card
  • Free direct debits
  • Earn 1% cashback when you use your ANNA debit card
  • Xero integration

Open Account

Just in the same way that the UK retail banking sector has seen a massive shift with the advent of so called challenger banks offering mobile-only accounts, the business banking industry is now going through a similar transformation.

The best business bank accounts

We're now seeing a number of Fintech companies offering sophisticated business bank account functionality via easy to use mobile apps. Opening accounts can take just minutes and the business owner and freelancer can digitally set up their business banking requirements with the same ease that the retail consumer currently enjoys.

Here's a look at some of the more well-known business banking account apps together with their features:

Starling Bank

Founded in 2014 by Anne Boden, a leading banking industry entrepreneur, Starling offers both personal and business accounts. They have recently passed their one million customer milestone and have amassed £1 billion in deposits.

They offer business accounts for limited companies, contractors, freelancers and sole traders. Companies can either use the mobile app or their desktop to manage their money.

Key Features

  • Connect with QuickBooks, Xero & FreeAgent
  • 24/7 support in-app or phone
  • Flexible overdraft
  • Multi-director accounts
  • Instant payment alerts
  • Cash deposits via Post Office

ANNA Money

ANNA stands for Absolutely No Nonsense Admin and is an app, a card and a business account that helps creative small businesses and startups with their financial admin.

According to ANNA they are made up of design, marketing and tech experts from across the world and see a future where ideas, creativity and innovation are encouraged and running a business is fun.

ANNA was co-founded by digital entrepreneurs Eduard Panteleev, Boris Dyakonov and Slava Akulov. They say ANNA was created to provide businesses with timesaving tools, enabling them to spend more time doing what they love.

Key Features

  • FREE for 3 Months - When you sign up with PocketRate
  • Give co-workers their own ANNA debit card with limits
  • Instant transaction alerts
  • Free direct debits
  • 1% cashback using your ANNA debit card
  • Connect other business and personal accounts
  • Free money transfers and ATM withdrawals

Tide

Within a year of launching in 2016, 1 in 12 business accounts were being opened with Tide. Today, Tide says it now has over 130,000 small-business owners using their mobile platform for business current accounts and financial administration services.

The Tide focus is on the SME sector, which it says has been vastly under-serviced by the more established banks. Where traditionally it could take weeks to open an account and require a mountain of paperwork, most accounts are now approved in just minutes via the Tide app.

Key Features

  • Get £50 PLUS year of free transfers - use code POCKETRATE when opening an account
  • Automated categories for income & expenses
  • Multiple accounts
  • Easy card management
  • Create and pay invoices
  • Access via mobile, laptop or desktop
  • Connect with Xero and QuickBooks
  • Support in the app - dedicated team

Revolut

Known for their explosive growth in gaining European retail banking market share since their launch in 2015, they now have over 8 million customers using their mobile app. However, Revolut also offer a business account solution that has already been taken up by 250,000 companies.

Their strap-line of 'Start local, scale globally' refers to a business account that you can use for both domestic and international payments without any hidden fees.

Key Features

  • Company and Freelancer options
  • Hold and exchange 28 currencies
  • Local accounts in GBP and EUR
  • IBAN for global transfers
  • Prepaid debit cards
  • Mobile app for cardholders
  • Virtual cards
  • Connect with Zero, FreeAgent & Slack
  • Open API