Choosing between ANNA and Countingup could save you hundreds of pounds annually in hidden fees while transforming how you manage business finances. This comprehensive 2026 comparison examines two leading UK fintech platforms side by side, using verified data to help sole traders and limited company directors make an informed decision.
This comparison reveals the real costs, hidden limitations, and critical safety differences between these two business banking platforms — including the important update that Countingup now offers FSCS protection up to £120,000 through its banking partner Griffin Bank.
Verdict: Which Business Account is Best for You?
⭐ The Winners
- Best for Sole Traders: Countingup — Integrated accounting eliminates separate software costs; tax pots earn 1.2% AER (variable) interest
- Best for Limited Companies: ANNA — MTD-compliant VAT filing + Corporation Tax estimates via the +Taxes add-on (limited companies only)
- Best for AI Admin Automation: ANNA — AI categorisation, invoice chasing, and 24/7 Cardiff support (sub-1-minute response times)
- Best for FSCS Protection: Countingup — Eligible deposits protected up to £120,000 via Griffin Bank
- Best for High-Volume Incoming Payments: Countingup — No incoming payment commission on any plan
At a Glance: ANNA vs Countingup
A quick side-by-side overview before diving into the detail.
| Feature | ANNA | Countingup |
|---|
| Safety | Safeguarded (e-money) | FSCS protected up to £120,000 (Griffin Bank) |
| Top Benefit | AI Automation & MTD VAT filing | Built-in accounting & tax tools |
| Trial Offer | Free plan (no time limit) | 3-month free trial |
| Incoming Payments | 0.95% commission (Free/Grow/Business plans) | No commission (all plans) |
| Accounting | Via Xero, Sage, QuickBooks, FreeAgent | Built-in (no extra software needed) |
| VAT Filing | +Taxes add-on (limited companies, £24+VAT/mo) | Free, direct to HMRC (all plans) |
| Apple/Google Pay | ✓ Yes | ✗ No |
| International Payments | USD, EUR, CHF accounts; SWIFT & SEPA | Not available |
| Best For | Admin-heavy businesses; international sellers | Micro-businesses; sole traders |
ANNA: The AI-Powered Admin Assistant
ANNA (which playfully “miaows” when you make payments) serves over 200,000 UK small businesses with an AI-first approach. Operating as an FCA-regulated e-money institution through PayNet Limited (FCA Firm Reference Number 900594), ANNA combines banking with integrated invoicing, tax filing, and expense management through a chat-based interface that responds to natural language commands.
The platform offers four pricing tiers: Free (£0/month), Grow (£12.90 + VAT/month), Business (£22.90 + VAT/month, first month free), and Big Business (£59.90 + VAT/month). An optional Auto Accountant add-on provides MTD ITSA filing — the first 4 months are free on all plans, then £29/month + VAT. ANNA’s savings accounts are provided by Griffin Bank and are FSCS-protected up to £85,000 per depositor.
Countingup: The Accounting-Hybrid Platform
Countingup is the business bank account with built-in accounting and tax, trusted by over 100,000 small businesses across the UK. Accounts are provided by Griffin Bank Ltd, which is authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and FCA (firm reference number 970920). This means eligible deposits are FSCS-protected up to £120,000 per depositor — a significant safety advantage over ANNA.
Countingup’s pricing is based on total monthly deposits: £5/month for £0–£750, £12/month for £750.01–£7,500, and £20/month for unlimited deposits. All plans include a 3-month free trial, built-in accounting with automatic categorisation, free VAT filing direct to HMRC, and a tax pot that earns 1.2% AER (variable) interest.
🔒 Crucial Limitation: No Digital Wallet Support
As of 2026, Countingup still does not support Apple Pay or Google Pay. Multiple users confirm the card doesn’t work with mobile wallets. For business owners who rely on contactless phone payments, this remains a significant limitation.
Comparison: Subscription Fees & Hidden Charges
Monthly Subscription Comparison
*ANNA Business plan: first month free. **All Countingup plans include a 3-month free trial.
| Provider | Entry Tier | Mid Tier | Top Tier |
|---|
| ANNA | £0/month (Free) | £12.90+VAT (Grow)
£22.90+VAT (Business)* | £59.90+VAT (Big Business) |
| Countingup | £5/month (£0–£750 deposits)** | £12/month (£750–£7,500 deposits)** | £20/month (unlimited deposits)** |
Transaction Fees: Where Costs Accumulate
UK Bank Transfers Out:
- ANNA Free: Unlimited free outgoing transfers
- ANNA Grow: 15 free per month, then 27p per transfer
- ANNA Business: 60 free per month, then 20p per transfer
- ANNA Big Business: Unlimited free transfers
- Countingup (all plans): 3 free faster payments per month, then 27p per transfer
⚠ Critical: ANNA’s 0.95% Incoming Payment Commission
ANNA charges 0.95% commission on incoming bank transfers on the Free, Grow, and Business plans (after the first £1,000/month on the Free plan). Only the Big Business plan (£59.90+VAT/month) eliminates this fee. Countingup charges no incoming payment commission on any plan. Receiving £10,000 monthly on ANNA’s Business plan = £95 in commission fees alone. For the Big Business plan on ANNA, incoming transfers via payment link are also free.
Incoming Payment Commission: The Reality
ANNA Free plan: first £1,000/month incoming is free, 0.95% commission on everything above. Grow and Business plans: 0.95% commission from the first pound received via bank transfer.
| Monthly Revenue | ANNA Free | ANNA Grow/Business | ANNA Big Business | Countingup |
|---|
| £1,000 | Free (under threshold) | £9.50 | Free | Free |
| £5,000 | £38.00 | £47.50 | Free | Free |
| £10,000 | £85.50 | £95.00 | Free | Free |
| £25,000 | £228.75 | £237.50 | Free | Free |
International Payments & Foreign Currency
| Feature | ANNA | Countingup |
|---|
| Foreign card transactions | 1% FX fee (all plans) | 3% (all plans) |
| SWIFT payments | Free: 1% FX. Grow: £5+1% FX. Business: 2 free then £5+1% FX. Big Business: 4 free then £5+0.5% FX | Not available |
| Multi-currency accounts | Separate accounts in USD, EUR, CHF | Not available |
| SEPA payments | Available (via SWIFT/SEPA networks, 200+ countries) | Not available |
MoneyZoe Insight
ANNA provides far superior international functionality with separate accounts in USD, EUR, and CHF, allowing you to hold foreign currency and control when to convert. Countingup provides no international payment capabilities beyond a 3% foreign card transaction fee. If your business sends or receives money abroad, ANNA is the clear choice.
ATM Withdrawals & Cash Deposits
| Feature | ANNA | Countingup |
|---|
| ATM Withdrawals | Free (Free & Big Business). Grow: 1.5% (min £1). Business: 3 free then 1% (min £1) | £1 per withdrawal (all plans) |
| Cash Deposits (PayPoint) | Free plan: 1% commission. Business: £300 free/month then 1% (min £1). Big Business: Free | Not available via PayPoint |
| Cash Deposits (Post Office) | Not available | 0.5% (min £2) — all plans |
| Replacement Card | Contact ANNA for details | £5 replacement card |
Sole Trader vs Ltd: Which Account Fits Your Structure?
For Sole Traders
Tax Estimation & Self-Assessment:
- ANNA: AI-powered expense categorisation with HMRC-compliant categories and natural language chat interface. MTD ITSA filing available via Auto Accountant (first 4 months free on all plans, then £29/month + VAT). Savings accounts FSCS-protected up to £85,000 via Griffin Bank.
- Countingup: Real-time tax estimate that updates based on income and expenses. Automatic tax pot savings (set aside a percentage of each payment). Tax deadline reminders. Free VAT filing direct to HMRC. Tax pot earns 1.2% AER (variable) interest. FSCS-protected deposits up to £120,000 via Griffin Bank.
Verdict for Sole Traders: Countingup’s built-in tax pot with 1.2% AER interest and real-time tax estimates make it the stronger choice for sole traders who want accounting and tax management in one app without additional software subscriptions. ANNA suits sole traders who prioritise AI expense automation and multi-currency capabilities.
For Limited Company Directors
VAT Filing:
- ANNA: MTD-compliant VAT calculation and filing directly to HMRC via the +Taxes add-on (£24/month + VAT = approximately £28.80/month). Available for limited companies only. Includes automatic Corporation Tax estimates, payroll software, Annual Accounts preparation for first-year businesses, and a personalised tax calendar with deadline reminders. 30-day free trial available.
- Countingup: Free VAT filing direct to HMRC at no extra cost, across all plan tiers. No add-on required. Includes automated filing reminders and real-time VAT estimates.
Verdict for Limited Companies: Countingup wins on value with free VAT filing on all plans. ANNA’s +Taxes add-on costs approximately £345.60 annually but includes Corporation Tax estimates, director payroll software, and Annual Accounts preparation — features that may justify the cost for businesses needing integrated tax management.
Expense Cards & Team Access
- ANNA Free: 1 card included; unlimited free expense cards
- ANNA Grow: 2 cards included; £5 per additional card per month
- ANNA Business: 5 cards included; £3 per additional card per month
- ANNA Big Business: Unlimited free expense cards
- Countingup: Single debit Mastercard; no multi-card/team access feature
Verdict: ANNA provides significantly more flexibility for teams needing multiple expense cards, particularly on the Big Business plan where cards are unlimited and free.
Is Your Money Safe? FSCS Protection vs Safeguarding
Understanding how your money is protected is one of the most important factors when choosing a business account. The regulatory framework differs fundamentally between ANNA and Countingup.
Countingup: Full FSCS Protection via Griffin Bank
Countingup accounts are now provided by Griffin Bank Ltd, a company registered in England and Wales (No. 10642930). Griffin is authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and the Financial Conduct Authority (FCA) (firm reference number 970920). Deposits on eligible deposits into your Countingup business account are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per depositor. This is genuine government-backed deposit insurance — the same protection offered by traditional high street banks.
🔒 Countingup: £120,000 FSCS Protection
Eligible deposits in your Countingup account are protected by the FSCS up to £120,000 per depositor via Griffin Bank. If Griffin Bank were to fail, the FSCS would compensate you up to this limit, typically within 7 days. This makes Countingup one of the most secure fintech business account options available to UK businesses.
ANNA: E-Money Safeguarding (Not FSCS)
ANNA operates as an e-money institution regulated by the Financial Conduct Authority through PayNet Limited (FCA FRN 900594). ANNA’s current accounts are not FSCS protected. Your funds are instead protected through e-money safeguarding — your deposits are held separately from ANNA’s business funds, are not loaned out, and are not invested in financial markets. However, there is no government compensation scheme if the e-money institution fails.
Important exception: ANNA’s savings accounts (referred to as “easy access savings accounts”) are provided by Griffin Bank Ltd and are FSCS-protected up to £85,000 per depositor. Only savings held in your ANNA Savings account carry FSCS protection — your main current account does not.
Critical Distinction: What This Means in Practice
| Protection Question | ANNA (Current Account) | Countingup |
|---|
| Is your money government-guaranteed? | ✗ No (safeguarded only) | ✓ Yes (FSCS) |
| Protection limit | All of it (safeguarded, not insured) | £120,000 per depositor |
| If the company fails — full balance back? | ⚠ Probably, but admin fees may be deducted | ✓ Yes, up to £120,000 |
| Recovery timeline | Weeks or months (administrator process) | Aim for 7 days |
| What happens to your money? | Kept separate, not loaned or invested | Kept by Griffin Bank (licensed bank) |
| Regulated by | FCA (e-money institution via PayNet) | FCA & PRA (licensed bank via Griffin) |
MoneyZoe Insight: For businesses holding large balances, Countingup’s £120,000 FSCS protection offers materially stronger safety than ANNA’s e-money safeguarding. If you regularly hold more than £10,000 in your business account, this is an important differentiator. For smaller balances, ANNA’s safeguarding works well in practice — your money is kept separate and untouched.
Pros & Cons: The Reality Check
ANNA
✓ The Good
- AI automation that actually works — Automatic expense categorisation and receipt matching; natural language chat commands
- MTD VAT filing for limited companies — Via +Taxes add-on (£24+VAT/month); includes Corporation Tax estimates and payroll software
- Free MTD ITSA filing on all plans — Auto Accountant for sole traders and landlords (first 4 months free, then £29/month+VAT)
- Multi-currency accounts — Separate USD, EUR, CHF accounts; 200+ countries via SWIFT and SEPA
- 24/7 Cardiff-based support — Sub-one-minute response times consistently praised in reviews
- Free expense cards on key plans — Unlimited free cards on Free and Big Business plans
- Apple Pay and Google Pay — Full mobile wallet support
✗ The Bad
- 0.95% incoming payment commission — Applies to all incoming bank transfers on Free, Grow, and Business plans; only eliminated on Big Business
- No FSCS protection on current account — Funds safeguarded but not government-compensated if ANNA fails
- Chat-only support — No phone support available for urgent issues
- Account freezing reports — Multiple user complaints about sudden account restrictions
- +Taxes add-on cost — VAT filing requires an additional £28.80/month (limited companies only)
Countingup
✓ The Good
- FSCS protection up to £120,000 — Government-backed deposit insurance via Griffin Bank; the only account in this comparison with full FSCS coverage
- No incoming payment commission — Receive any amount without commission fees on all plans
- Integrated accounting eliminates software costs — Built-in bookkeeping, automatic categorisation, and free VAT filing direct to HMRC
- Tax pot with 1.2% AER (variable) — Earn interest on tax savings; rate tracks Bank of England base rate
- 3-month free trial — All plans; generous trial period to evaluate before committing
- Real-time tax estimates — Know your tax bill as you earn; automated deadline reminders
✗ The Bad
- No Apple Pay or Google Pay — Multiple users confirm cards do not work with mobile wallets; carry the physical card at all times
- 27p per transfer (after 3 free) — Active businesses making many payments face high per-transaction costs
- No international payments — 3% foreign card fee only; no SWIFT, no SEPA, no multi-currency accounts
- Mobile-only platform — No desktop access
- No multi-card/team access — Single debit card; no team expense card management
Final Scorecard & Verdict
✓ Choose ANNA If:
- You are a VAT-registered limited company wanting MTD-compliant digital filing (the +Taxes add-on at approximately £28.80/month includes Corporation Tax estimates and director payroll)
- You have low-to-moderate incoming payment volumes — under £5,000 monthly on Grow/Business plans to keep the 0.95% commission manageable, or choose Big Business for unlimited free incoming payments
- You value AI automation for expense categorisation, invoice chasing, and natural language banking commands
- You need multi-currency accounts (USD, EUR, CHF) with control over conversion timing
- You need Apple Pay and Google Pay for contactless mobile payments
- You deal with international payments via SWIFT or SEPA networks
✓ Choose Countingup If:
- You want FSCS protection up to £120,000 — the highest level of deposit protection available for a business fintech account
- You receive high volumes of incoming payments and want zero commission on customer receipts
- You want integrated accounting to eliminate separate software subscriptions such as Xero or QuickBooks
- You need free VAT filing direct to HMRC without paying for an add-on
- Your monthly deposits are under £7,500 — the £5–£12/month pricing tiers offer exceptional value
- You want to earn interest on tax savings (1.2% AER variable) built directly into your account
- You are happy to carry a physical card and can manage without Apple Pay or Google Pay
Which Should You Choose? The Final Recommendation
The right choice depends on your priorities. If deposit safety and high-volume incoming payments are your primary concerns, Countingup is the stronger choice — its £120,000 FSCS protection via Griffin Bank and zero incoming payment commission provide financial security and cost-certainty that ANNA cannot match at comparable plan levels. The built-in accounting, free VAT filing, and 1.2% AER tax pot make it a genuinely all-in-one platform for sole traders and micro-businesses.
However, if you are a limited company director who values AI-driven admin automation, needs multi-currency accounts for international business, or wants Apple Pay and Google Pay support, ANNA is the superior choice — provided your monthly incoming revenue is either low enough to keep the 0.95% commission manageable, or high enough to justify the Big Business plan (£59.90+VAT/month) where incoming bank transfers are completely free.
For sole traders with deposits under £7,500 per month, Countingup’s £5–£12/month pricing, FSCS protection, and integrated tax tools represent outstanding value. For growing limited companies with international exposure or complex admin needs, ANNA’s AI-powered platform offers capabilities that Countingup currently cannot match.
FAQs: Business Account Questions Answered
Does Countingup offer FSCS protection?
Yes. Countingup accounts are now provided by Griffin Bank Ltd, which is authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and FCA (firm reference number 970920). Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per depositor. This is full government-backed deposit insurance, the same protection as a traditional high street bank.
Is ANNA FSCS protected?
ANNA’s current account is not FSCS protected. Your funds are protected through e-money safeguarding — they are held separately from ANNA’s business funds and are not loaned out or invested. However, ANNA’s savings accounts are provided by Griffin Bank Ltd and are FSCS-protected up to £85,000 per depositor. Only savings held in your ANNA Savings account carry FSCS protection.
What is ANNA’s incoming payment commission?
ANNA charges 0.95% commission on incoming bank transfers. On the Free plan, the first £1,000 of incoming payments per month is free, with 0.95% applying above that threshold. On the Grow and Business plans, the 0.95% commission applies from the first pound received via bank transfer. The Big Business plan (£59.90+VAT/month) eliminates incoming bank transfer commission entirely. Countingup does not charge any incoming payment commission on any plan.
Does Countingup support Apple Pay or Google Pay?
No. As of 2026, Countingup does not support Apple Pay or Google Pay. Multiple users confirm the card does not work with mobile wallets. You must carry the physical Countingup Mastercard debit card for in-person contactless payments. ANNA supports both Apple Pay and Google Pay on all plans.
What are ANNA’s current pricing plans?
ANNA currently offers four plans: Free (£0/month) with unlimited outgoing transfers and the first £1,000/month incoming free; Grow (£12.90+VAT/month) with 15 free transfers then 27p; Business (£22.90+VAT/month, first month free) with 60 free transfers then 20p; and Big Business (£59.90+VAT/month) with unlimited free transfers and no incoming commission. An optional Auto Accountant add-on provides MTD ITSA filing — first 4 months free on all plans, then £29/month+VAT.
What are Countingup’s current pricing plans?
Countingup’s pricing is based on total monthly deposits after the 3-month free trial ends: £5/month for total monthly deposits of £0–£750; £12/month for £750.01–£7,500; and £20/month for unlimited deposits. All plans include built-in accounting, free VAT filing direct to HMRC, a tax pot earning 1.2% AER (variable) interest, 3 free faster payments per month (then 27p per transfer), and FSCS-protected deposits up to £120,000 via Griffin Bank. All plans come with a 3-month free trial.
Which platform offers free VAT filing?
Countingup includes free MTD-compliant VAT filing direct to HMRC on all plans at no extra cost. ANNA offers free MTD ITSA filing (for sole traders and landlords) on all plans via Auto Accountant — the first 4 months are free, then £29/month+VAT. For MTD VAT filing (limited companies), ANNA requires the +Taxes add-on at £24+VAT/month, which also includes Corporation Tax estimates, payroll software, and Annual Accounts preparation for first-year businesses.
Which platform is better for international payments?
ANNA is significantly better for international payments. ANNA offers separate business accounts in USD, EUR, and CHF; SWIFT payments to and from 200+ countries; and SEPA payments. Countingup offers no international payment capabilities beyond a 3% foreign card transaction fee. If your business trades internationally, ANNA is the clear choice.
Do either platform do credit checks when opening an account?
Both ANNA and Countingup typically perform identity verification and anti-money laundering checks rather than traditional “hard” credit searches that affect your credit score. This makes accounts accessible for business owners with poor personal credit history who might struggle to open accounts with traditional banks.
Which platform offers better built-in bookkeeping?
Countingup has built-in accounting software with automatic transaction categorisation, receipt storage, and real-time financial reporting — no third-party software needed. ANNA offers AI-powered expense categorisation and integrates with Xero, Sage, QuickBooks, and FreeAgent. For sole traders wanting a truly all-in-one solution, Countingup’s native accounting wins. For businesses already using Xero or Sage, ANNA’s integrations provide flexibility.
Disclaimer: This information is not financial advice and/or recommendations. We strive to keep our information accurate and up-to-date. However, always check the financial institution, service provider or specific product’s site for terms & conditions.
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