Top10BusinessBanks is a free online resource meant to help users find the information they need in order to make a confident decision. We spend countless hours of research to find the most relevant content and present it in the most accessible way. However, please don’t view the information presented here as a recommendation from our end.
Please note:
| Business Banks | Pricing | Card | Regulation | Main Advantages | Score | Open an Account |
|---|---|---|---|---|---|---|
|
1
|
Free Plan More Info |
Tide Corporate Mastercard
 |
FCA |
|
9.8 | |
PaymentsCard Type
Multi-Business
Accounting Tools
Security Features
Account Access
|
||||||
|
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
|
||||||
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.
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.
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.
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.
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.
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.
Mobile 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.
