Comparing the best business bank accounts in the UK in 2026

Finding the best business bank account in the UK means weighing up fees, interest rates, relationship support, and the features your business actually uses.

With so many business banking providers in the UK to choose from - from the big high-street names to digital challengers - it pays to do a proper business bank account comparison before you commit.

Compare business accounts at a glance

The information throughout this article is not exhaustive. To continue your research, it’s worth reviewing each account’s terms and conditions along with their fees & charges, or contacting the bank directly.

Allica Bank business current account

Allica’s Business Rewards Account (the name we've given our business current account) is designed for established businesses that have been incorporated for a minimum of 12 months, typically keep a balance of £50,000 or more in their account or have a loan product with us. 

These established SMEs have been in an unfortunate grey zone when it comes to banking. They’ve been seen as too small (in terms of revenues) for bespoke corporate banking, but their needs are too unique to be met by repurposed retail banking products.

Notable features and important information

• Instant Access Savings Pot with 4.08% AER interest rate*
• Every customer gets a dedicated relationship manager.
• Cashback on qualifying expenditure.
  • 1% cashback below £10,000 spent.
  • 1.5% cashback above £10,000 spent.
• No monthly fees**
• UK customer support team.

See a full list of limits, fees, and industry restrictions here, or our current account key product information, or terms & conditions, or savings pot key product information, or supplemental terms & conditions.

Bank of Scotland business current account

To open this account, your turnover must be under £25,000,000. Bank of Scotland also offers specific accounts for schools, credit unions, and treasurers. It’s worth noting, for the closeness of their names, that Bank of Scotland and Royal Bank of Scotland (RBS) are entirely separate banks.

Lloyds Banking Group owns Bank of Scotland, as well as Lloyds Bank (and others). As a result, Bank of Scotland and Lloyds’ business accounts share some common features.

Notable features and important information

• Relationship team for business help and support.
• Free Business Finance Assistant accounting software.
• Sole traders or companies with a sole director whose turnover is under £3,000,000 can apply quickly in-app.
• Product Specific Conditions.
• Account Charges and Processing Times.

Barclays business current account

Barclays offers a start-up account, as well as established business, charity and impact accounts. Their start-up account is only available to businesses in their first 12 months of trading; all other businesses should access the established business account.

Businesses with an annual turnover above £400,000 can request a callback to make their application.

Notable features and important information

• Free subscription to Freshbooks accounting software for as long you retain your account.
• Eagle Labs accelerator programme for startups, business growth coaching programmes for growing businesses, relationship teams for established businesses.
• Partner marketplace for business services, with discounts and integrations.
• Terms and conditions.
• Rates and charges.

HSBC business current account

HSBC has a range of business accounts, including the Kinetic Current Account (for sole traders or single-director limited companies), Small Business Banking (borrowing up to £100,000), Business Banking Account (borrowing over £100,000), as well as charity and corporate accounts. The bank is set up to support businesses of all sizes.

Notable features and important information

• Annual fee waived for first year of Visa Commercial Card.
• Dedicated Relationship Manager (with Business Banking Account), Specialist support teams (with Small Business Banking Account).
• UK support teams.
• Business Banking terms & conditions.
• Business Price List.

Lloyds Bank business current account

The main eligibility criteria for Lloyds’ business account is that your annual turnover must sit below £25,000,000.

Lloyds and Bank of Scotland are both part of Lloyds Banking Group. As such, their products share a lot in common - for example, the fees tariff for Lloyds’ business account is almost identical to Bank of Scotland’s.

Notable features and important information

• 12 months with no account fee.
• Relationship team for business help and support.
• Free Business Finance Assistant accounting software.
• Product Specific Conditions.
• Account Charges and Processing Times.

Metro Bank business current account

Metro’s business bank account is a one-size-fits-all product for any sole trader or company with an annual turnover below £2,000,000.

Metro retains 76 branches in the UK, predominantly in London, Greater London, and the Midlands. Customers can bank in-store or online. According to a press release dated July 2023, the bank intends to open 11 new branches in the north of England in 2024 and 2025.

Notable features and important information

• Open an account same-day in-branch, including debit card printing.
• Local business managers in each branch.
• Free access to Invoice It (invoicing software, in collaboration with BankiFi).
• Service Relationship guide.
• Transaction and service charges.

Monzo’s business current account

Monzo is another branchless, digital bank. Their business account is the same product for sole traders and limited companies, but certain payment limits change depending on your incorporation status.

The current account is free, but can be upgraded to Pro (for features including invoice generation, accounting software generation and multi-user access) for £5 per month.

Notable features and important information

• 24/7 customer support team.
• Payment links.
• Accept contactless payments with your own Apple or Android device and receive direct card payments.
• Business account terms and conditions.
• Business account fee information.

Natwest business current account

As well as its primary Business bank account, Natwest also offers a Start-up account, Mettle (self-employed) account, and Community account. In this sense, there’s something for every business with NatWest. Each account is designed to provide relevant features for businesses of different types and at different stages.

Natwest is owned by Natwest Group, a holding company that operates several banks, including Ulster Bank and Royal Bank of Scotland. Business current account products across these three banks share many common features, but should not be thought of as identical.

Notable features and important information

• Free subscription to FreeAgent accounting software for as long as you retain your account.
• Two years of free banking on everyday transactions (for customers joining via Current Account Switching Service and with turnover below £2m).
• Entrepreneur Accelerator programme to connect with peers and experts.
• Business account terms.
• Business Account charges booklet.

Revolut business current account

Revolut positions itself as a leader for international payments. If you trade internationally, this could be useful for you.

After a near-five year wait, Revolut was granted its UK banking license in March 2026. While it has been licensed in the European Union since 2018, this means they can now offer UK customers full bank accounts and associated products like overdrafts and lending.

Notable features and important information

• 100+ countries and 25+ currencies supported for payments.
• Instant business payments with its Revtags feature.
• Multiple ways to accept payments, from QR codes to physical card readers.
• Business terms.
• Business account pricing.

Starling Bank business current account

Starling Bank is one of several digital banks on this list, with no physical branches. Starling offers two lookalike business accounts - a Sole Trader Account and a Business Account (for limited companies).

On top of its free business banking product, customers can add monthly subscriptions. These include: Business Toolkit (a suite of features including invoice generation, HMRC tax calculation and VAT tracking) for £7, EUR account for £2 and USD account for £5.

Notable features and important information

• 24/7 UK customer support team.
• Savings spaces for separating funds (e.g. for tax).
• Spending analytics, to track current and historical trends.
• Current account terms and conditions.
• Rates, fees, and charges.

Tide business current account

Tide is a FSCS protected ClearBank product, spun out into its own brand. With four tiers of product available, Tide claims to scale with your business as it grows.

It’s important to note that Tide itself is not a bank, but offers business bank accounts through ClearBank. Tide is, effectively, a wrapper for a ClearBank product. Tide does offer its own e-money accounts, which aren’t the same as current accounts.

If you open an e-money account with Tide, your money will not be directly protected by the Financial Services Compensation Scheme. Tide will hold any e-money deposits in a separate ‘safeguarding’ account, operated by a FSCS-registered bank. For some business owners, this level of separation may feel too risky. For others, it may not be a concern.

Notable features and important information

• Support with trademark filing and disputes.
• Features include invoice templates, virtual office address, and company name checks.
• Integration with Companies House, allowing customers to open an account and incorporate a limited company at the same time. Tide pays the incorporation fee for the customer.
• Tide terms.
• Tide pricing.

TSB business current account

TSB’s business account is offered under the product name ‘Business Plus account’. The bank did historically offer a range of tariffed accounts, but these are no longer available for new customers,

The bank has partnered with several business service providers to offer a network of either integrated or discounted products.

Notable features and important information

• 30 months’ free day-to-day banking for new customers.
• Partner marketplace, providing discounts, special offers and integrations.
• Partnership with Square, offering one of a free Square reader, £5,000 of fee-free sales, or a 30% discount on a Square Terminal.
• Business Banking Charges Guide.

Virgin Money business current account

Virgin Money offers three different current accounts for businesses; M Account for Business (for businesses with an annual turnover under £1,000,000), Business Current Account (annual turnover under £6,500,000) and Business Choice Account (turnover over £6,500,000).

Notable features and important information

• 25 months' free day-to-day banking, for new customers and new businesses.
• Three free months of QuickBooks or Xero accounting software.
• Online resources and events from Virgin StartUp.
• Business current account terms and conditions.
• Business banking tariff guide.

How to choose the best business bank account for you?

The concept of the best bank for business is personal to your circumstances. A few questions worth asking when you compare business accounts:

• What are your business account fees? Check monthly charges, transaction fees, deposit fees, and overdraft costs carefully.

• Do you carry surplus cash? If yes, a high interest business account like Allica's Savings Pot could deliver meaningful returns.

• Do you trade internationally? If so, compare foreign exchange rates and international transfer fees - Revolut or Wise may suit you better.

Nida Sattar, Allica's Head of Product for Payments, put it well:

"Customers need to think about the overall picture: what account provides the best value, convenience and relationship banking to address all my needs?"

And Gareth Anderson, our Head of Business Management, makes a similarly valuable point:

“It’s important to focus on what matters for your circumstances. All business owners will have different financial needs and goals.

If you are holding high levels of surplus cash then the focus might be on finding an account that pays a high savings interest rate. A fee-free bank account could be more important if you’ve just started out.“

How to switch business bank accounts

The Current Account Switch Service (CASS) makes it straightforward to switch business bank accounts – so long as both banks are registered.

CASS moves your direct debits, standing orders, and balance automatically – guaranteeing the process completes by a specific date.

To be eligible, your business must have fewer than 50 employees and an annual turnover below £6.5 million. If either bank isn't registered with CASS, you'll need to transfer balances and update payment details manually.

Business bank account FAQs

By now, you should have a pretty good idea of what’s on the market right now. If nothing else, you’ll see why it’s worth doing your research to find the right bank for you.

Before you get stuck halfway through an application, check out the FAQs below to fill in any last gaps in your knowledge.

What business account fees should I expect?

Most accounts carry a monthly account fee, transaction charges, and potential fees for cash deposits, overdrafts, and foreign currency transactions. Some digital banks offer free basic accounts but charge per transaction. Always read the fee schedule before applying.

How long does it take to open a business bank account in the UK?

Digital and challenger banks can open accounts in days; some high-street banks have been known to take two to three months. Allica guides applicants through a simple online form, with the team following up to complete your application.

Are business bank accounts safe?

Most UK business accounts from FCA-regulated banks are covered by the FSCS up to £85,000. E-money providers like Tide are FCA-regulated, but not covered by the FSCS. These providers must safeguard your funds in ring-fenced accounts with fully licensed banks.

What is the best business current account in the UK?

The best business current account depends on your business size, cash flow, and what you value most. For established SMEs that hold meaningful balances and want a real relationship with their bank, Allica's Business Rewards Account stands out: no monthly fee (eligibility applies), up to 4.08% AER on our Instant Access Savings Pot, and 1 to 1.5% uncapped cashback on qualifying spend.

Tide vs Allica Bank business account: which is better?

In a Tide vs Allica Bank business account comparison, the right choice comes down to where your business is.

Tide suits start-ups and smaller businesses that want invoicing tools, company incorporation support, and a flexible tiered plan from £0 per month.

Allica Bank is designed for established SMEs that keep higher balances and want more from their bank: a dedicated relationship manager, a high-interest savings pot (up to 4.08% AER), and cashback on spending. Allica is also a fully licensed UK bank with FSCS protection, whereas Tide's current account is an e-money product, so your balance is not FSCS protected.

If you are an established business looking for genuine relationship banking, Allica is the stronger option.

What are the best HSBC business account alternatives?

If you are looking for HSBC business account alternatives, the main reasons businesses switch tend to be high fees after the introductory period, slow onboarding, or a lack of dedicated support.

Some of the strongest alternatives include:

• Allica Bank - no monthly fee (eligibility applies), up to 4.08% AER, a dedicated relationship manager, and 1 to 1.5% cashback. Best for established businesses.

• NatWest - £0 monthly fee, free FreeAgent software, and cashback. A like-for-like high-street alternative.

Ready to find your best business bank account?

If you're an established SME looking for a dedicated relationship manager, a high interest business account, and cashback on everyday spending - with no monthly fee* - Allica Bank could be the right fit for you.

Open a Business Rewards Account with Allica Bank

*Rate includes standard rate of 2.83% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS and a 0.25% Welcome Boost for 3 months for new customers who deposit £50,000+ into their Savings Pot within 14 days. Rates correct as of 19th December 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

** Customers whose balance falls below an average of £10,000 in the previous month will incur a £25 monthly fee. This does not apply to customers who hold an active loan product (including an overdraft) with Allica Bank. Account fees are based on average account balance and activity status. See more details here.

Links were live and information was correct at the time of writing the article.