🏠 / Best Business Bank Accounts Comparison 2026

Best Business Bank Accounts Comparison 2026

Explore and find the best business account for your company—compare features, fees, and benefits whether you’re a startup, freelancer, limited company, or growing business.

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  • Tide
    Tide 01
    Monthly Fee
    £0
    Bank Transfers
    20p
    ATM withdrawals
    £1
    FX Fees
    2.75%
    FSCS Protection
    Yes
  • CountingUp
    CountingUp logo
    Monthly Fee
    £3
    Bank Transfers
    30p
    ATM withdrawals
    £1
    FX Fees
    3%
    FSCS Protection
    No
  • ANNA Money
    Anna Money
    Monthly Fee
    £0
    Bank Transfers
    0.95%
    ATM withdrawals
    Free
    FX Fees
    1%
    FSCS Protection
    No
  • Airwallex
    AirwallexLogo Black1
    Monthly Fee
    £0*
    Bank Transfers
    Free
    ATM withdrawals
    FX Fees
    0.5% – 1%
    FSCS Protection
    No
  • Wise Business
    Wise business
    Monthly Fee
    £0
    Bank Transfers
    Free (UK)
    ATM withdrawals
    Free
    FX Fees
    From 0.33%
    FSCS Protection
    No
  • Everest
    everest
    Monthly Fee
    €20
    Bank Transfers
    Free*
    ATM withdrawals
    2€ + 2%
    FX Fees
    From 0.50%
    FSCS Protection
    No
  • Ampere
    Ampere Logo
    Monthly Fee
    £20
    Bank Transfers
    Free
    ATM withdrawals
    £1.5
    FX Fees
    0.35%
    FSCS Protection
    No
  • MultiPass
    MultiPass
    Monthly Fee
    From £100
    Bank Transfers
    £1/Outgoing
    ATM withdrawals
    1.5%
    FX Fees
    1.5%
    FSCS Protection
    No

Tide Business Account

Tide is a comprehensive business finance platform that serves over 10% of all SMEs in the UK. The platform helps more than 1 million contractors, freelancers, and scaling businesses worldwide manage their finances efficiently. Tide offers an all-in-one solution for business banking and financial management. Users can open a free business account in minutes and access powerful finance management tools. The platform aims to help business owners focus on what they love by simplifying financial operations.

Open your business account completely free with no setup costs or hidden charges
Make and receive payments faster using integrated payment tools
Manage business expenses and create invoices all in one place
Get 24/7 in-app chat support with FSCS protection and no monthly fees
Tide 01
Monthly Fee
£0
Bank Transfers
20p
ATM withdrawals
£1
FX Fees
2.75%

ANNA Business Account

ANNA is a business banking service designed specifically for small businesses and limited companies. You can open an account in under 10 minutes and receive a physical card within 3-4 days. The service includes expense management, invoicing tools, and tax handling features. ANNA provides both virtual and physical debit cards for immediate use. Over 100,000 business owners currently use their services.

Multiple card options – Get a virtual card instantly when you sign up, plus a physical card delivered in a few days. You can also provide employee cards with spending limits to avoid expense reimbursements.
Built-in tax management – ANNA automatically calculates VAT returns, Corporation Tax, and PAYE, then files directly to HMRC. The system includes bookkeeping assistance and integrates with accounting software like Xero and Sage.
Cashback and payment features – Earn up to 40% cashback on select business expenses like travel and furniture. Accept payments through invoices, QR codes, or payment links, and make international transfers with competitive currency conversion rates.
Automatic expense tracking – Take photos of receipts or forward them by email, and ANNA automatically matches them to your transactions. All expenses get categorized for tax purposes and stored digitally for easy searching and exporting.
Anna Money
Monthly Fee
£0 Pay As You Go
Bank Transfers
0.95%
ATM withdrawals
£0
FX Fees
1%

Countingup Business Account

Countingup combines a business bank account with accounting software in one simple app. You can open an account in minutes and get a contactless Mastercard with all the usual banking details. The app automatically handles your bookkeeping by categorizing transactions and capturing receipts. It also creates profit and loss reports and estimates your tax obligations. Plus, you can send invoices directly through the app and get real-time business insights.

Flexible pricing based on your deposits – Monthly fees range from £3-£18 depending on how much money goes into your account, so costs adjust with your business performance
Complete financial picture in one place – Get instant profit and loss reports, tax estimates, and invoice tracking without switching between different apps or systems
Quick setup with full banking features – Apply in 3-4 minutes using just ID and a selfie, then receive your contactless Mastercard with sort code and account number
Built-in automation saves time – Transactions get categorized automatically, receipts are captured through your phone, and invoices can be created and sent in seconds
CountingUp logo
Monthly Fee
£3 (FREE 3 month trial)
Bank Transfers
30p
ATM withdrawals
£1
FX Fees
3%

Ampere Business Account

Ampere provides an all-in-one financial service designed specifically for businesses. The platform allows UK and EEA registered companies to open business accounts quickly through their mobile app. Users get complete control over their funds with access to low exchange rates and fast transactions. The service includes business banking, corporate cards, payment processing, and loan options. Currently, only UK and EU-based directors with properly registered enterprises can apply for accounts.

Account Setup and Fees: Business accounts cost £35 to set up (includes first month maintenance and card delivery) with £20 monthly maintenance, while private accounts cost £25 to set up with £10 monthly maintenance.
Transaction Costs: Local transfers in GBP and EUR are free, international SWIFT transfers cost £25, and currency exchange rates are 0.35% for GBP/EUR and 0.55% for USD/CHF
Corporate Card Pricing: Card transactions are free with no monthly fees, but ATM withdrawals cost 2% + £1.50, foreign currency transactions have 0.55% markup, and replacement cards for lost/stolen cost £15
Payment Processing Rates: Merchant services start from IC++0.35% for low-risk businesses in GBP/EUR/USD, with no setup fees and rolling reserves of 5-10% held for 120 days depending on risk level
Business Loan Options: Available after 3 months of trading with Ampere, offering up to double your monthly turnover, flexible repayment terms, and funding within 2 business days once approved
Ampere Logo
Monthly Fee
£20
Bank Transfers
FREE
ATM withdrawals
2% + £1.50
FX Fees
0.35%

Airwallex Business Account

Airwallex Business Account provides companies with a single platform to manage international payments and finances. Businesses can open multi-currency accounts with local bank details across different countries without traditional banking paperwork. The platform allows companies to send and receive money globally at interbank exchange rates with transparent pricing. Organizations get corporate cards that operate in multiple currencies and integrate with existing accounting systems. It eliminates the need for multiple banking relationships and expensive traditional transfer services.

Global Multi-Currency Accounts: Companies can open business accounts with local bank details in 120+ countries and receive payments in customers’ preferred currencies, avoiding forced conversion fees and lengthy setup processes.
Interbank FX Rates: Businesses access wholesale exchange rates typically reserved for large banks, with transparent pricing and no hidden charges on international transfers and currency conversions.
Corporate Card Management: Organizations can issue unlimited virtual and physical Visa cards to employees with real-time spending limits, automatic expense categorization, and direct payment from multi-currency wallet balances.
Batch Transfer Operations: Companies can send payments to up to 1,000 recipients across different countries and currencies simultaneously, with customizable approval workflows and automatic accounting software integration.
Local Payment Network: Businesses use Airwallex’s proprietary network to operate like local companies anywhere in the world, with faster settlement times and lower costs than traditional correspondent banking relationships.
AirwallexLogo Black1
Monthly Fee
£19
£0/month if you deposit at least £10k per month or hold a minimum balance of £10k
Bank Transfers
£0
ATM withdrawals
FX Fees
From 0.5%

Everest Business Account

The Everest Business Account offers companies a modern banking solution with a 20€ monthly fee. It targets businesses registered in Luxembourg or other EEA holding companies. The account comes with three Mastercard credit cards included in the base price. Companies can manage everything through an online dashboard with real-time controls. Additional cards cost just 5€ each when teams need to expand.

Optional account opening fee of 250€ applies only for Luxembourg companies and EEA holding companies that choose this service
The service provides true credit cards rather than debit cards, offering 35-day grace periods and flexible repayment options up to 45 days
Users get exclusive Mastercard Airport Security Fast Track access and can access over 1,000 airport lounges in more than 120 countries
The platform includes automated expense management with receipt scanning, spending limits per card, and CSV export for accounting purposes
everest
Monthly Fee
20
Bank Transfers
SEPA 0
Outgoing: 0.3% of the volume (minimum fee applied: 1€)
ATM withdrawals
2€ + 2%
FX Fees
0.50%
(Non-EUR Card)

Wise Business Account

Wise offers business accounts that help companies manage money across different countries without the usual banking hassles. You get real exchange rates and transparent fees for everything you do. The account works like a regular business account but handles multiple currencies easily. You can send payments worldwide, receive money from customers, and give your team spending cards. Setting up takes minutes and there are no monthly charges to worry about.

Multiple currency accounts – Hold and manage money in over 40 currencies from one account, with free conversions between balances you already have
International payments from 0.33% – Send money to 70+ countries with upfront fees and real exchange rates, no hidden markups or surprise charges
Free business debit cards – Give your team cards that work worldwide without foreign transaction fees, plus set individual spending limits for each card
Local account details in 23 currencies – Get bank details that let customers pay you like a local business, even when they’re on the other side of the world
Wise business
One-Time Fee
£50
Bank Transfers
2%
ATM withdrawals
£0
FX Fees
From 0.33%

Multipass Business Account

MultiPass is a digital banking solution designed for businesses that need to handle international payments and multi-currency transactions. The platform provides virtual IBANs for different regions including the UK, EU, and US. Companies can manage their finances across 70+ currencies from a single dashboard. MultiPass also offers corporate cards and batch payment features for streamlined business operations. The service aims to simplify cross-border banking for growing businesses.

Multi-currency accounts – Businesses receive dedicated account details for UK (sort code and account number), EU (IBAN), and US (routing and account number) to accept local payments from customers in each region.
Corporate card management – Companies can issue up to 15 virtual or physical Mastercard business cards to employees, with full online control over issuing, blocking, and spending limits.
Wholesale exchange rates – The platform offers bank-beating currency conversion rates with instant 24/7 exchange capabilities between the 70+ supported currencies.
Batch payment processing – Businesses can upload CSV files to send multiple international payments at once, with team-based approval workflows for accounting staff and executives
MultiPass
Monthly Fee
From £100
Bank Transfers
Free to £1
ATM withdrawals
1.5%
FX Fees
1.5%

How to Compare Business Bank Accounts

1. Understand Your Requirements

How you do business will affect the type of account you need. Consider how many transactions you will have each month, as some accounts charge per transfer while others offer a set amount for free. If you handle physical money, check if the provider allows for cash deposits at the Post Office or local retailers. Finally, decide if you are comfortable with a mobile-only experience or if you require the support of a local physical branch.

2. Check Eligibility

Most providers have a range of business accounts tailored to different types of companies. Before applying, check the eligibility criteria to ensure the account is suited to your specific business structure, whether you are a sole trader or a limited company. Some accounts also have turnover limits or require you to be a UK resident, so verifying these details early can save you time during the application process.

3. Compare the Latest Deals

There are numerous offers and deals designed to attract new customers, which can be compared using our tool above. When looking at a “free” offer, always consider the long-term value of the account beyond the initial period. Look closely at the ongoing cost of transactions and whether the account provides the essential integrations you need, such as direct feeds to your accounting software.

The Guide to Free Business Banking for UK Sole Traders & Limited Companies

The UK business banking market has reached a state of “digital-first” maturity. For small businesses, freelancers, and startups, the ability to open an account in minutes without monthly overheads is now the standard. However, “free” banking often comes with specific usage-based trade-offs that every founder should understand before committing to a provider.

If you are looking for a cost-effective account to power your business, here is how the three most popular digital options stack up in the current market.


The Three Leading Free Business Banking Options

1. Tide: The Leading “Permanently Free” Choice

Tide is the primary choice for businesses seeking a long-term account without a monthly subscription. It is particularly robust for security, as its accounts are provided by ClearBank, meaning your deposits are FSCS protected up to £120,000—the current statutory limit for business accounts.

Best for: Businesses that want a reliable, free-forever account with the highest level of statutory protection and are comfortable with per-transaction pricing.

The Catch: While there is no monthly fee, you pay 20p for every transfer (in or out) and £1 for ATM withdrawals. These transaction costs accumulate quickly for active businesses making 50+ monthly transfers.

2. ANNA: The “Pay As You Go” Administrative Partner

ANNA (Absolutely No Nonsense Admin) offers a “Pay As You Go” plan that is popular for its built-in admin tools, such as instant invoicing and automated receipt scanning. It operates as an E-Money Institution, meaning it uses Safeguarding to protect your funds rather than the FSCS.

Best for: Freelancers and startups that want automated bookkeeping and prefer not to pay for individual outgoing transfers, making it suitable for businesses receiving fewer but larger payments.

The Catch: There is no monthly fee, but ANNA charges a 0.95% commission on all incoming payments on its free plan. Receiving £10,000 monthly from clients costs £95 in fees.

3. Countingup: The Accounting-First Trial

Countingup is unique because it is an accounting software and a business account rolled into one, specifically designed to help with modern tax mandates. While it doesn’t offer a permanently free plan, it provides a 3-month free trial for all new users to help them through the initial startup phase.

Best for: Businesses looking to automate their tax prep immediately. It provides real-time tax estimates and profit-and-loss reports directly in the app, making it particularly valuable for Making Tax Digital (MTD) compliance.

The Catch: After the 3-month trial, fees start at £3 per month and rise based on your volume. Like ANNA, it uses Safeguarding rather than FSCS protection.

Feature Tide (Free Plan) ANNA (PAYG Plan) Countingup (Trial)
Monthly Fee £0 (Forever) £0 (Forever) £0 (First 3 Months)
Incoming Transfers 20p each 0.95% commission 30p each
Outgoing Transfers 20p each Free 30p each
ATM Withdrawals £1 Free £1
Money Protection FSCS Protected (up to £120k) Safeguarded Safeguarded
Key Strength Reliable, low-cost baseline Built-in admin & invoicing Combined bank & accounting
Best For Established small businesses Freelancers with few payments New startups wanting automation
Open Account Open Tide Account Open ANNA Account Start Free Trial

The Strategic Pillar: Why Accounting Integration is Essential

Today, a business account that doesn’t “talk” to your accounting software is a significant administrative liability. As HMRC’s Making Tax Digital (MTD) requirements become mandatory for millions of sole traders, your choice of account should be dictated by its ability to automate your financial records.

Direct Bank Feeds vs. Manual Imports

Choosing an account with a “Direct Feed” (like Tide or ANNA) ensures that every transaction is pulled automatically into software like Xero, QuickBooks, or FreeAgent. This removes the risk of human error associated with manual CSV uploads and eliminates the weekly administrative burden of downloading and importing bank statements.

Real-Time Tax Readiness

With MTD for Income Tax (ITSA) requiring quarterly updates starting in April 2026, integrated accounts allow you to see your estimated tax bill in real-time. This “ledger-to-bank” sync can save small business owners an average of 2 to 5 hours of manual admin per week.

Automated Reconciliation

Integrated systems can automatically match incoming payments to your open invoices. This means that when a client pays you, the software marks the invoice as paid and categorizes the transaction without you lifting a finger. For businesses invoicing 20+ clients monthly, this automation eliminates hours of manual cross-referencing.


Business Banking Guides You May Find Useful

Business Banking: Frequently Asked Questions

Is a business account legally required?

  • For Limited Companies: Yes. Your company is a separate legal entity, and its finances must be kept strictly separate from your personal money. Using a personal account for company transactions violates Companies Act requirements.
  • For Sole Traders: While not a legal requirement, most UK banks prohibit the use of personal accounts for business in their terms. A dedicated account is also essential for complying with the Making Tax Digital (MTD) rules starting in April 2026.

How much does a digital business account really cost?

“Free” banking usually follows one of these three models:

  • Pay-per-transfer: No monthly fee, but you pay a small amount (e.g., 20p) every time you move money. Best for businesses with fewer than 25 monthly transactions.
  • Commission-based: No monthly fee, but the provider takes a small percentage (e.g., 0.95%) of any money you receive from customers. More suitable for businesses receiving fewer but larger payments.
  • Subscription-based: A flat monthly fee (often £3–£18) that usually includes a set number of “free” transactions. Most economical for high-volume businesses making 50+ monthly transfers.

How is my money protected?

  • FSCS Protection: Banks (like Tide’s partner ClearBank) protect deposits up to £120,000 per authorized firm. This is a government-backed guarantee that pays you back quickly if the provider fails—typically within seven days.
  • Safeguarding: E-Money Institutions (like ANNA and Countingup) keep your money in a separate, ring-fenced account at a major bank. Your money is protected from the provider’s own creditors, though it may take longer to access if the provider fails compared to an FSCS payout.

Do these accounts support “Making Tax Digital” (MTD)?

Yes. As the April 2026 MTD deadline for sole traders earning over £50,000 approaches, these accounts have been designed for compliance. Most integrate with software like Xero or QuickBooks, and Countingup and Tide even allow you to file tax details directly to HMRC via the app without requiring separate accounting software.

How long does it take to switch business accounts?

The Current Account Switch Service (CASS) guarantees a complete switch within 7 working days for businesses with fewer than 50 employees and a turnover under £6.5 million. This service automatically moves your balance, standing orders, and direct debits to your new provider, ensuring minimal disruption to your business operations.

Can I deposit cash into these accounts?

Yes. Most digital providers partner with the Post Office or PayPoint networks. Typical fees are approximately 0.5%–0.7% at the Post Office (often with a £2.50–£3 minimum) or 3% at PayPoint locations. These fees make cash deposits expensive for businesses handling significant cash volumes—depositing £1,000 at PayPoint costs £30 in fees alone.

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