TSB Business Plus account: fees and catches
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.
FSCS protects eligible deposits up to £120,000 per person, per authorised institution.
Quick answer
Business Plus is the only TSB business current account open to new customers, as of 4 October 2026. Start-ups get 30 months of free day-to-day banking if they stay within agreed limits and don’t go overdrawn without arranging it.
After that, there’s a £5 monthly fee if your average balance is under £10,000, plus 70p per cheque and 70p per £100 of cash paid in or out. Electronic payments and debit card use stay free.
Who it’s for
- Start-ups that want a long free period with branch and Post Office access
- Businesses paying in some cash or cheques
- Businesses that keep £10,000 or more on average, so the monthly fee is waived
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You handle lots of cash — 70p per £100 adds up
- You want cashback or interest on the current account
- You’d rather deal with Santander — TSB’s page suggests you may be eligible for a Santander business account instead
Business Plus fees
| Item | During 30-month free period | After |
|---|---|---|
| Monthly fee | £0 | £5 if average balance under £10,000 |
| Electronic payments in or out | Free | Free |
| Debit card use, including UK cash withdrawals | Free | Free |
| Cheques paid in or out | Free | 70p each |
| Cash paid in, out or exchanged | Free | 70p per £100 |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
The catch
Going overdrawn without arranging it first can end the free banking period. Unarranged overdrafts cost 19.9% a year above £50, plus £1 a day above £200 (up to 10 fees a month).
Check TSB’s business account terms.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Is the TSB business account free?
For start-ups, day-to-day banking is free for 30 months within agreed limits. After that it’s £5 a month unless your average balance is £10,000 or more.
Can I pay cash into a TSB business account?
Yes, at TSB branches and the Post Office. After the free period it costs 70p per £100.
Is TSB business banking part of Santander?
TSB’s site says it’s now part of Santander and that you may be eligible for a Santander Business Current Account.
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