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.
-
ANNA Money
Monthly Fee£0Bank Transfers0.95%ATM withdrawalsFreeFX Fees1%FSCS ProtectionNo-
AccountBusinessMonthly Fee£22.90 + VATBank Transfers60 Free, after 20pATM withdrawals3 Free, after 1%FX Fees1%Accounting SoftwareXero, Integration with third party accounting software
-
AccountBig BusinessMonthly Fee£59.90 + VATBank TransfersFreeATM withdrawalsFreeFX Fees0.5%Accounting SoftwareXero, Integration with third party accounting software
ANNA Money is a business account for startups, freelancers, creatives, and growing businesses. It offers instant invoicing, automatic reconciliation, and smart money management tools. You get a debit card, virtual cards, and up to 40% cashback on 150+ products. Includes international payments with a dedicated IBAN, pots, extra expense cards, and cash deposits at 28,000+ locations.
Accounting Integrations: Share access with your accountant or sync with accounting software like Xero and Sage Cloud
Multicurrency Support: Thanks to Railsr and Currencycloud, ANNA lets you send and receive international payments via SWIFT and SEPA. You can set up a multicurrency IBAN, hold funds in USD, EUR, or CHF, and benefit from low-cost SEPA transfers across Europe. Currency conversion fees are up to 1% per transfer.
International Payments (FX Fees):
- Pay As You Go: SWIFT payments: £5 each, Currency conversion fee: 1%
- Business: 2 free SWIFT payments/month, then £5 each, Currency conversion fee: 1%
- Big Business: 4 free SWIFT payments/month, then £5 each, Currency conversion fee: 0.5%
Eligible business types: Sole Traders, Limited Companies and LLP
Find out more at Anna.Money
-
-
CountingUpMonthly Fee£3Bank Transfers30pATM withdrawals£1FX Fees3%FSCS ProtectionNo
-
Account2nd TierMonthly Fee£9Bank Transfers30pATM withdrawals£1FX Fees3%Accounting SoftwareBuilt-in Accounting
-
Account3rd TierMonthly Fee£18Bank Transfers30pATM withdrawals£1FX Fees3%Accounting SoftwareBuilt-in Accounting
CountingUp combines a business account with built-in accounting and a free 3-month trial. Create invoices, accept card payments, and track late payments automatically. SmartTax AI categorises transactions, estimates tax, and flags tax allowances to save you money. File VAT to HMRC, store receipts, and connect your accountant directly.
1st Tier (3£/monthly) : Total monthly Deposit in £0-£750
2nd Tier (9£/monthly): Total monthly Deposit in £750-£7,500
3rd Tier (18£/monthly): Total monthly Deposit in £7,500+Cash deposits:
- Post Office Cash Load: 0.5% (minimum £2)
- Cash Load (PriceSpecification): 3%
Accounting Integrations: Users can connect their accountant directly to their account via the Countingup Accountant Hub, allowing the accountant to access their data.
Multicurrency Support: Countingup accounts don’t currently have an IBAN, so international bank transfers cannot be sent or received directly from the account. However, with the Countingup Member Offer via CurrencyFair, users get 15% off exchange margins, with rates up to 8× cheaper than banks. You can exchange over 20 currencies to 150 countries. Foreign currency card transactions incur a 3% fee per transaction.
Eligible business types: Sole Traders and Limited Companies.
Find out more at CountingUp
-
-
Cynergy Bank
Monthly FeeFree for 12 months, then £5/monthBank TransfersFreeATM withdrawals1.50% (min £1.50)FX Fees2.75%FSCS ProtectionYesCynergy Bank is a UK business current account that pays 3.50% AER variable on balances up to £10,000. Interest is calculated daily and paid monthly. Eligible deposits are FSCS-protected up to £120,000. Limited offer: new accounts are fee-free for the first 12 months, then £5/month after. Terms apply.
Standard transfers including Faster Payments, Direct Debits, and Standing Orders are all free. CHAPS, SWIFT, and SEPA payments are £6 each. A limit of 100 free transactions per month applies.
Multicurrency Support: Make and receive international payments in up to seven major currencies. Option to open EUR or USD accounts. Foreign currency card transactions incur a 2.75% FX fee.
Accounting Integrations: Sage.
Cynergy Bank also offers two savings products for businesses: the Business Saver (3.50% AER variable, deposit from £1 to £10,000,000 with flexible access) and the Business Notice Saver (higher rates with a chosen withdrawal notice period, no fixed term).
Eligible business types: Partnerships, Limited Liability Partnerships, and Limited Companies registered in the UK with up to 10 directors. Not suitable for sole traders, charities, trusts, or non-UK businesses.
Find out more at Cynergy Bank
-
Airwallex Global account
Monthly Fee£0*Bank TransfersFreeATM withdrawals–FX Fees0.5% – 1%FSCS ProtectionNo-
AccountGrowMonthly Fee£49Bank TransfersFreeATM withdrawals–FX Fees0.5% – 1%Accounting SoftwareXero
-
AccountAccelerateMonthly Fee£999Bank TransfersFreeATM withdrawals–FX Fees0.5% – 1%Accounting SoftwareXero
Airwallex is a financial services company and offers a global multi-currency account with local details to receive payments worldwide. Make fast, low-cost international transfers and access flexible corporate cards for global spending. Connect easily with major software tools and manage FX at competitive rates. Ideal for businesses operating across borders. Their Explore plan is free if you keep £10k in deposits or balance — otherwise, it costs £19/month.
Accounting Integrations: Sage, Xero, Odoo, NetSuite, Asperato, ApprovalMax
Multicurrency Support: Airwallex offers fast, cost-effective international money transfers, allowing businesses to pay suppliers and employees in 200+ countries and regions across 60+ currencies. Payments can be received in as little as one business day, with the full amount on delivery guaranteed. Users have access to interbank FX rates, ensuring competitive pricing with no hidden fees, and can streamline payments using batch transfers to send funds to multiple recipients in a single transaction.
Eligible business types:Sole Trader, Limited Companies, LLP and LP
Find out more at Airwallex
-
-
Wise BusinessMonthly Fee£0Bank TransfersFree (UK)ATM withdrawalsFreeFX FeesFrom 0.33%FSCS ProtectionNo
Wise Business is built for companies operating internationally, offering low-cost global payments, local bank details in multiple currencies, and fast transfers. You can invoice clients abroad, pay suppliers efficiently, and manage team spending with full control. The account is designed to simplify international finance while keeping fees transparent.
💼 One-time account opening fee – £50
✅ Domestic bank transfers (UK) – Free
🌍 International transfers – From 0.33% + a small fixed fee
🏧 ATM withdrawals up to £200/month – Free (up to 2 withdrawals)
💳 ATM withdrawals over £200/month – £0.50 + 1.75% per withdrawalMulticurrency Support: Multicurrency is at the core of Wise Business accounts. You can hold and convert over 40 currencies, and receive local account details in 22 currencies (EUR IBAN, US routing number, GBP account number, and more) so you can invoice and get paid like a local. Send fast global payments, automate batch transfers, and benefit from real mid-market exchange rates. The account includes a multi-currency card for international spending and supports team spending controls and interest-earning balances.
Accounting Integrations:
Xero, Quickbook, FreeAgent, Freshbook, Emma, ZohoBooks, Odoo, QuickFile, Ember, CheddarEligible business types: sole traders and freelancers, limited and public companies, partnerships, charities and trusts in the European Economic Area (EEA), Canada, US, Switzerland, Australia, and New Zealand
Find out more at Wise Business
-
EverestMonthly Fee€20Bank TransfersFree*ATM withdrawals2€ + 2%FX FeesFrom 0.50%FSCS ProtectionNo
Everest provides modern Mastercard credit cards with instant issuance and full online management. Enjoy digital receipt uploads, real-time expense reports, and detailed transaction oversight. You can freeze cards instantly, manage team spending, and streamline workflows. Includes exclusive Mastercard Airport Security Fast Track access.
Here are the key costs to know:
💶 Monthly subscription – €20/month (includes 3 virtual or physical cards)
🏦 Bank transfers (EUR/SEPA, including UK)*:
– Incoming: ✅ Free
– Outgoing: 0.3% (min. €1)
🌍 FX fees (non-EUR card transactions) – 0.50%
🏧 ATM withdrawals – €2 + 2% per transaction
💳 Extra cards – €5/month per additional card
📥 Non-SEPA transfers – Incoming: €15 / Outgoing: €30
🧾 Account opening fee – €250 (for Luxembourg-registered companies and holding companies in the EEA)Accounting Integrations:Users can export all historical data to a CSV file and import it into their accounting software.
Multicurrency Support: Everest provides a EUR business account with a dedicated LU IBAN, allowing smooth SEPA transfers across Europe. While you can make and receive international payments, the account does not support holding multiple currencies — all balances remain in EUR, with foreign payments converted when required. This makes Everest suitable for EU-based businesses operating primarily in euros rather than those needing a full multi-currency wallet.
Eligible business types: Limited Companies.
Find out more at Everest
-
AmpereMonthly Fee£20Bank TransfersFreeATM withdrawals£1.5FX Fees0.35%FSCS ProtectionNo
Ampere offers fast onboarding with safeguarded funds and FCA-regulated protection. Get GBP and EUR accounts, low FX rates from 0.35%, and secure UK Faster Payments & SEPA transfers. Access merchant accounts with twice-weekly settlements, apply for business loans up to £500k, and enjoy responsive phone and email support. Designed as an all-in-one financial service for growing businesses.
Accounting Integrations: Ampere doesn’t offer direct accounting software integration, but it allows businesses to add team members or accountants individually, giving them access to view transactions and download data without granting full control.
Multicurrency Support: Ampere lets businesses hold, send, and receive multiple currencies — GBP, EUR, USD, and CHF — all under the same account, without forced conversions. You can make international payments via SWIFT, SEPA, UK Faster Payments, or other local rails depending on the currency and destination. Exchange rates and FX margins are transparent and fixed: 0.35% for GBP/EUR and 0.55% for USD/CHF.
Eligible business types:Limited Companies and LLP and LP
Find out more at Ampere
-
MultiPassMonthly FeeFrom £100Bank Transfers£1/OutgoingATM withdrawals1.5%FX Fees1.5%FSCS ProtectionNo
MultiPass provides multi-currency virtual IBANs with local UK, EU, and US account details. Send and receive payments in 70+ currencies across 200+ countries with wholesale FX rates. Manage up to 15 business cards (virtual or physical), fully online, with real-time controls. Exchange currencies instantly and keep multi-currency balances to avoid unnecessary conversions.
Accounting Integrations: MultiPass does not currently offer a direct accounting-software integration, but it allows businesses to add team members (e.g., accountants) individually, assigning them view-only or limited permissions so they can access transaction history and financial data. Additionally, users can export account statements and CSV files, enabling manual import into accounting software.
Multicurrency Support: Multicurrency is at the core of a Multipass account, allowing businesses to send, receive, and hold multiple currencies in the same account. Payments can be made via SWIFT or 20+ local payment methods. Exchange rates are fixed and transparent, with fees that can be waived depending on transaction volumes, making international payments and currency management straightforward.
Eligible business types: Limited Companies, LP and LLP
MultiPass Global Business Account Pricing
- Free: Online banking, relationship manager, extra IBANs
- Onboarding: From £500 (one-time account setup)
- Monthly Fee: From £100 (for account maintenance) + Card £10/month
- Minimum Balance: Must maintain 3× monthly fee, or pay £100/month
- UK Transfers: Free incoming, £1 outgoing
- SEPA Transfers: €2 incoming, from 0.10% outgoing
- SWIFT Transfers: £20–£60
- Extra Fees: £500 for missing documents; account closure from 3× monthly fee
Find out more at MultiPass
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.
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.
Cynergy Bank Business Current Account
Cynergy Bank is a UK business bank designed for small and medium-sized businesses, covering everything from domestic payments and bulk payroll to international transfers in up to seven major currencies — all with no monthly fee for the first 12 months (limited offer). Eligible deposits are FSCS-protected up to £120,000.
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.
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.
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.
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.
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.
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 Leading Free Business Banking Options
1. 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.
2. 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 | ANNA (PAYG Plan) | Countingup (Trial) |
|---|---|---|
| Monthly Fee | £0 (Forever) | £0 (First 3 Months) |
| Incoming Transfers | 0.95% commission | 30p each |
| Outgoing Transfers | Free | 30p each |
| ATM Withdrawals | Free | £1 |
| Money Protection | Safeguarded | Safeguarded |
| Key Strength | Built-in admin & invoicing | Combined bank & accounting |
| Best For | Freelancers with few payments | New startups wanting automation |
| Open 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.
