Payments
Card Type
- Business Mastercard
Multi-Business
- hold up to 5 business accounts
Accounting Tools
- Accounting integration
- Expense Management
- Invoicing
Security Features
- Eligible funds are FSCS-protected up to £85,000
Best Business Checking Accounts – UK – UK
Best Business Checking Accounts – UK
- Benefit from no paperwork, fast approval and automated banking & accounting workflows
- Save money with low or no fees on transactions, transfers & payments
- Perfect for small businesses & freelancers
Last Updated November 2022
- No paperwork, fast approval
- Save time & money
- Accounting integrations
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| Business Banks | Pricing | Card | Regulation | Main Advantages | Score | Open an Account |
|---|---|---|---|---|---|---|
1  | Free Plan More Info | Tide Corporate Mastercard | FCA |
| 9.8 | |
| | ||||||
2  | Free Plan More Info | Starling Bank Mastercard | FCA |
| 9.5 | |
PaymentsAccount Types
Automated Payments
Domestic Transfers
International Transfers
Accounting Tools
Security Features
Account Access Voted Best Business Banking Provider of 2021 | ||||||
3  | £50/yr More Info | Equals Corporate Mastercard | FCA |
| 9.1 | |
PaymentsAccount Types
Automated Payments
Domestic Transfers
International Transfers
Accounting Tools
Security Features
Account Access | ||||||
4  | Plans from £6/mo More Info | Pleo Prepaid Mastercard | FSA, PCI |
| 8.8 | |
PaymentsAccount Types
Automated Payments
Domestic Transfers
International Transfers
Accounting Tools
Security Features
Account Access Free trial | ||||||
5  | Free More Info | Currensea Mastercard | FCA |
| 8.5 | |
PaymentsAccount Types
Automated Payments
Domestic Transfers
International Transfers
Accounting Tools
Security Features
Account Access | ||||||
6  | Free Account Plans £4.90+/mo More Info | Anna Corporate Mastercard | FCA |
| 8.2 | |
PaymentsAccount Types
Automated Payments
Domestic Transfers
Between 2 – unlimited UK transfers, depending plan’s allowance International Transfers
Accounting Tools
Security Features
Account Access | ||||||
Score 9.8
Regulation FCA
Pricing Free Plan
Accounts
- UK
Main Advantages
- Instant credit up to £15,000
- Open Banking API
1
- Scheduled payments
- Free Tide Business card
More Info +
Score 9.5
Regulation FCA
Pricing Free Plan
Accounts
- IBAN
- GBP, EUR, US
Main Advantages
- Open an account in less than 10 minutes
- accounting Integration with QuickBooks | FreeAgent & more
2
- 24/7 local UK support
- Business account opening in 3 easy steps
More Info +
Score 9.1
Regulation FCA
Pricing £50/yr
Accounts
- GBP
Main Advantages
- Spend in 190 countries
- 3.5% cashback at 40+ UK retailers
- Integrate reports with your accounting tools
3
- An expense account with multi-currency payment cards
More Info +
Score 8.8
Regulation FSA, PCI
Pricing From £6/mo
Accounts
- GBP, EUR
Main Advantages
- Digital receipt capture
- Easy accounting integrations
4
- Pleo cards for your team
- Automated expense reports
More Info +
Score 8.5
Regulation FCA
Pricing Free Account
Premium plan
Premium plan
Accounts
- GBP
Main Advantages
- FCA Regulated
5
- Free ATM withdrawals up to £500/m
- Free World Debit FX card
More Info +
Score 8.2
Regulation FCA
Pricing Free Account
£4.90 – £19.90/mo
£4.90 – £19.90/mo
Accounts
- GBP
Main Advantages
- Tax calculations & reminders
- Creates, sends & chases invoices
6
- First 6 months – Free
- 1% cashback on selected purchases
More Info +
What Is a Digital Business Bank Account?
Digital business banks, also known as ‘challenger’, neo or mobile/online-only banks, offer businesses a 100% digital banking alternative to the traditional high street banks. Managed via secure mobile and/or web apps, digital business banks allow you to save time and money with lower (or no!) fees on common transactions, automated banking activities, seamless accounting integrations and 24/7 access.
Why Should I Open a Digital Bank Account?
The increased flexibility offered by digital banks such as Pleo and Cashplus makes them the perfect solution for freelancers, sole traders, online/local sellers and SMBs- by simplifying financial management processes and freeing up time to focus on growing your business.
What’s the Difference Between a Digital Business Bank & a High Street Bank?
Setup: High street banks generally require new business customers to complete many complex forms, provide loads of financial reports and then ask you to wait up to a few weeks for approval. Opening an account with a digital bank is simple- there are no paper forms, the application is all done online, and approval is often the same day.
Fees: Traditional banks make money in two ways, by investing your money elsewhere and by charging you excessive fees on every type of transaction you perform. With no physical brick and mortar location, mobile business banks can pass their savings on overheads to you, and therefore only charge minimal fees on transactions, payments and withdrawals. Leading business bank Revolut, for example, offers free domestic and international transfers.
Access: High street banks have restricted opening times (often during your own business hours), limited weekend trading and when you can finally make it to the bank, you are faced with long wait times. With mobile or web app accessibility, your digital bank account is accessible instantly- 24 hours a day, from your office, home or on the go.
Features & Services: Brick and mortar banks offer businesses a full suite of banking features, including account managers and private banking. Digital banks are quickly catching up, offering current and savings accounts, prepaid MasterCards, fast money transfer and payment services as well as integrations with accounting software to assist with financial reporting.
Security & Regulation: Digital banks feel strongly about the security of your funds. The Financial Conduct Authority (FCA) and Financial Services Compensation Scheme (FSCS) cover most UK digital business banks, and the majority of the digital banks don’t reinvest your money, which means it’s always available to withdraw, should something untoward happen.
What Is a Digital Business Bank Account?
Digital business banks, also known as ‘challenger’, neo or mobile/online-only banks, offer businesses a 100% digital banking alternative to the traditional high street banks. Managed via secure mobile and/or web apps, digital business banks allow you to save time and money with lower (or no!) fees on common transactions, automated banking activities, seamless accounting integrations and 24/7 access.
Why Should I Open a Digital Bank Account?
The increased flexibility offered by digital banks such as Pleo and Cashplus makes them the perfect solution for freelancers, sole traders, online/local sellers and SMBs- by simplifying financial management processes and freeing up time to focus on growing your business.
What’s the Difference Between a Digital Business Bank & a High Street Bank?
Setup: High street banks generally require new business customers to complete many complex forms, provide loads of financial reports and then ask you to wait up to a few weeks for approval. Opening an account with a digital bank is simple- there are no paper forms, the application is all done online, and approval is often the same day.
Fees: Traditional banks make money in two ways, by investing your money elsewhere and by charging you excessive fees on every type of transaction you perform. With no physical brick and mortar location, mobile business banks can pass their savings on overheads to you, and therefore only charge minimal fees on transactions, payments and withdrawals. Leading business bank Revolut, for example, offers free domestic and international transfers.
Access: High street banks have restricted opening times (often during your own business hours), limited weekend trading and when you can finally make it to the bank, you are faced with long wait times. With mobile or web app accessibility, your digital bank account is accessible instantly- 24 hours a day, from your office, home or on the go.
Features & Services: Brick and mortar banks offer businesses a full suite of banking features, including account managers and private banking. Digital banks are quickly catching up, offering current and savings accounts, prepaid MasterCards, fast money transfer and payment services as well as integrations with accounting software to assist with financial reporting.
Security & Regulation: Digital banks feel strongly about the security of your funds. The Financial Conduct Authority (FCA) and Financial Services Compensation Scheme (FSCS) cover most UK digital business banks, and the majority of the digital banks don’t reinvest your money, which means it’s always available to withdraw, should something untoward happen.
How Do I Compare & Choose the Best Digital Bank for My Business?
Accordeon button
Banking Features
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options. Note that fees may vary depending on the plan you choose (free plans will often incur higher fees than premium plans).
Corporate card
All digital business banks offer corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. Check for regulations such as FCA (Financial Conduct Authority) or the FCS (Financial Compensation Scheme) in the UK & FIN-FSA, BaFin, DNB, ECB & ACPR in Europe.
Accounting tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most digital banks also offer seamless integration with bookkeeping & accounting tools. For example, Revolut Business integrates with Xero and FreeAgent.
Account Access
All digital banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.
How Do I Compare & Choose the Best Digital Bank for My Business?
Banking Features
Accordeon button At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees
Accordeon button Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options. Note that fees may vary depending on the plan you choose (free plans will often incur higher fees than premium plans).
Corporate card
Accordeon button All digital business banks offer corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security
Accordeon button The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. Check for regulations such as FCA (Financial Conduct Authority) or the FCS (Financial Compensation Scheme) in the UK & FIN-FSA, BaFin, DNB, ECB & ACPR in Europe.
Accounting tools
Accordeon button Look for built in expense reporting, scheduled/recurring payments & direct debits. Most digital banks also offer seamless integration with bookkeeping & accounting tools. For example, Revolut Business integrates with Xero and FreeAgent.
Account Access
Accordeon button All digital banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.
Who Can Open a Business Bank Account?
Accordeon buttonMobile business bank accounts are available for all organisations from sole traders to larger enterprises, although they are best suited to small to medium businesses (such as local and online businesses), startups, sole entrepreneurs and freelancers.
Unlike high street banks, most digital business bank accounts can be opened and approved within hours, requiring just the company directors’ details and scanned copies of addresses, IDs, and business licences.