Business bank accounts compared — what matters and the latest options
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
Quick answer
Most small UK businesses end up choosing between three groups: free app-led accounts (Starling, Monzo Business Lite, Mettle, Tide’s Free plan), paid app plans that add features (Tide, Monzo Pro, Revolut Business, ANNA), and high-street banks that offer an introductory free period and then a monthly fee (Barclays, Santander, HSBC, NatWest).
Our pick for a no-monthly-fee everyday account with UK bank protection: Starling, which charges no monthly fee and no fee on UK transfers. Our pick for branch access after a free period: compare Barclays, Santander and HSBC on what you’ll pay once the free months end.
Quick comparison
| Provider | May suit you if… | Monthly fee | Protection |
|---|---|---|---|
| Starling | you want no monthly fee and full UK banking | No monthly fee | Bank — FSCS protected |
| Monzo Business | you like budgeting tools and may upgrade later | Lite: free. Pro: £9 a month (first month free). Team: from £25 a month | Bank — FSCS protected |
| Mettle (NatWest) | you’re a sole trader or two-owner company that wants free FreeAgent | No monthly fee (optional Mettle+ add-on £4 a month) | Accounts provided by NatWest — FSCS protected; older e-money accounts aren’t covered |
| Tide | you want a free start with optional paid features | Free plan: no plan fee. Smart £12.49, Pro £27.49, Max £69.99 a month | Tide isn’t a bank. Most accounts are held with ClearBank (FSCS); some older e-money accounts aren’t FSCS covered |
| Revolut Business | you pay or get paid in several currencies | Basic £10, Grow from £30, Scale from £90 a month | Check which Revolut entity holds your account — Revolut Bank UK Ltd is a bank; Revolut Ltd is e-money and not FSCS covered |
| Barclays | you want branch access and can use 12 free months | No monthly fee for 12 months, then £8.50 a month; transaction charges apply | Bank — FSCS protected |
| Santander (Business Current Account – Classic) | you have up to two owners and want branch support | 12 months’ free everyday banking for start-ups and switchers, then £9.99 a month | Bank — FSCS protected |
| HSBC | you’re a small business with modest borrowing needs | Small Business Banking Account: no monthly fee. Business Banking Account: £10 a month (12 months free for start-ups and switchers) | Bank — FSCS protected |
| ANNA | you want admin tools bundled in and accept e-money | Free plan £0 (first £1,000 incoming a month free, then 0.95%). Business plan £22.90 a month + VAT | E-money — funds in the main ANNA account are safeguarded, not FSCS protected |
Figures as of 3 October 2026, taken from each provider’s own website. Fees, plans and eligibility change, so check the provider before applying.
Who it’s for
- Sole traders and limited companies opening a first business account
- Businesses paying a monthly fee and wondering whether it’s still worth it
- Owners who want a quick view of who suits what before reading the detail
- Anyone weighing app-only banking against a high-street bank with branches
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You need treasury, multi-entity or large international services
- Your business handles a lot of cash or cheques — check deposit charges first
- You already know the provider you want and only need its current terms
- You’re looking for regulated financial advice
Full explanation
How we grouped providers
We sorted providers by how they charge, because that is what changes most as a business grows. Free app accounts charge per transaction or for extras.
Paid app plans bundle allowances. High-street accounts are usually free for a set period, then charge a monthly fee plus transaction charges.
What to compare first
Start with the things that cost you money every month: the monthly fee after any free period, transfer allowances, cash deposit charges and foreign currency fees. Then check protection (bank or e-money) and whether the account links to your accounting software. Our guide to business account fees walks through each charge.
Who each option suits
Starling may suit you if you want a no-fee account with UK bank protection. Mettle may suit you if you want FreeAgent included. Tide may suit you if you want to start free and add paid tools later.
Revolut Business may suit you if you trade in several currencies. Barclays, Santander and HSBC may suit you if branch access matters and you’re comfortable paying a fee after the free months.
If you’re still unsure, our decision guide asks the questions in order, and the simple guide to business bank accounts explains the basics.
The catch
The catch with app-led accounts: free plans often cap transfers or charge for cash and foreign spending. Tide’s Free plan includes 5 bank transfers a month and a 2.75% fee on card spending abroad.
The catch with high-street accounts: the free period ends. Barclays moves to £8.50 a month after 12 months; Santander’s Classic account moves to £9.99 a month.
The catch with e-money accounts: some providers aren’t banks. Funds in an e-money account are safeguarded, not FSCS protected — ANNA’s main account is one example.
See also: FSCS in 2026: £120,000 for deposits, £85,000 for investments
Want the raw numbers side by side?
Ready to look at a provider’s current terms?
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Which business bank account has no monthly fee?
Starling and Mettle advertise no monthly fee, Monzo Business Lite is free, and Tide’s Free plan has no plan fee. HSBC’s Small Business Banking Account has no monthly fee on HSBC’s price list. Transaction charges can still apply.
Are app-only business accounts safe?
Starling, Monzo and Allica are banks, so eligible deposits are FSCS protected up to £120,000. Some providers offer e-money accounts, which are safeguarded but not FSCS protected.
Do high-street banks still charge for business accounts?
Usually yes, after an introductory period. Barclays charges £8.50 a month after 12 months and Santander’s Classic account £9.99 a month after 12 months for start-ups and switchers.
Can I switch business accounts easily?
Many banks support the Current Account Switch Service for business accounts. NatWest, for example, offers two years’ free everyday banking when you switch with the full service (turnover up to £2m).
Is this a recommendation?
No. It’s general information to help you compare. Check each provider’s current terms before you apply.
Get our weekly email
The Friday Finance Lowdown — five minutes of the money stuff worth knowing.
Free to join. See our privacy policy for how we handle your email address.