Ongoing
CASHBACK OFFER - Enter code 150BOOST when you sign up for a Tide business bank account T&C's apply*
Compare Bank AccountsKeep up to date with market trends and the latest finance news.
Our trusted partner Bionic, has experts who handle the comparison for you and guide you through your quotes.
Compare Business EnergyIn a constantly changing market, locking in a Business Energy deal could be beneficial.
Our trusted partner Bionic, has experts who handle the quote for you and you through your options.
Compare Business InsuranceSecure your business with the right insurance. From contents to cyber, we've got you covered.
We compare our best Business Broadband deals to find the ideal solution for your business.
Get ConnectedFind everything you need to decide which Business Broadband plan is right for you.
Set yourself up to take (and make) payments easily.
Find our most popular recent guides here.
This article will give you all the guidance needed to help you make an informed decision and switch business broadband providers smoothly and quickly.
How to Switch Business Broadband ProviderCASHBACK OFFER - Enter code 150BOOST when you sign up for a Tide business bank account T&C's apply*
Compare Bank AccountsKeep up to date with market trends and the latest finance news.
Our trusted partner Bionic, has experts who handle the comparison for you and guide you through your quotes.
Compare Business EnergyIn a constantly changing market, locking in a Business Energy deal could be beneficial.
Our trusted partner Bionic, has experts who handle the quote for you and you through your options.
Compare Business InsuranceSecure your business with the right insurance. From contents to cyber, we've got you covered.
We compare our best Business Broadband deals to find the ideal solution for your business.
Get ConnectedFind everything you need to decide which Business Broadband plan is right for you.
Set yourself up to take (and make) payments easily.
Find our most popular recent guides here.
This article will give you all the guidance needed to help you make an informed decision and switch business broadband providers smoothly and quickly.
How to Switch Business Broadband ProviderOngoing
No monthly fees
0% AER
Various credit options available
*CASHBACK OFFER - Enter code 150BOOST when you sign up for a Tide business bank account T&C's apply
Earn up to 4.48% AER each month when you open a business savings account T&Cs apply
Register a company for only £14.99
No monthly fee in the first 12 months. T&Cs apply
£8.50
0% AER
Please see 'Credit facilty' information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
Ongoing
No monthly fees
0% AER
Business overdraft available upon invitation
Apply in minutes
No monthly or annual fee
Helpful UK based telephone customer service
No monthly fee for three months
£12.50
0% AER
Not available
No credit checks & available to all business types
*LIMITED OFFER* Free business account for 3 months
Application takes minutes and your business account can be open on the same day you apply
Not applicable
No monthly fees
0% AER
None
Instant Access Savings Pots, 1.5% AER interest (variable) paid monthly (T&Cs apply)
Apply for a business account in minutes, no monthly fees
Free UK bank transfers, spending categories and 24/7 customer support
Having less than £50,000 in the account may earn a reduced rate of interest and may incur fees
No monthly fees
4.58% AER* (variable) instant access Savings Pot
None
Earn up to 1.5% cashback on eligible card spend
Seamless money management at no cost using tools like Sage and Xero to organize receipts, manage transactions, track taxes and bills, helping you save time on reporting
Get a dedicated Relationship Manager
No monthly fee in the first 12 months. T&Cs apply
£8.50
0% AER
Please see ‘Credit facility’ information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
2 Years
No monthly fees
0% AER
None
FreeAgent is included as long as you retain your account
A dedicated Relationship Manager - a single point of contact to look after your business banking needs (turnover and eligibility criteria apply)
No account fee for 12 months
£8.50 *
0% AER Credit Interest
Subject to eligibility and application
Free accounting software available to business account holders. T&C's Apply
Bank in whatever way suits your business - online, with our mobile app, over the phone or in branch
Support from our UK-based relationship team
2 Years
No monthly fees
0% AER
Credit options available
FreeAgent is included as long as you retain your account
No transaction fees for 2 years (then standard tariff applies)
No monthly fee in the first 12 months. T&Cs apply
£8.50
0% AER
Please see ‘Credit facility’ information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
Ongoing
No monthly fees
0% AER
None
Business account: hold, send and receive funds in 25+ currencies, exchange up to £1,000 at the interbank rate and only 0.6% fee for anything over this allowance. 1% for exchanges outside market hours.
Free smart debit cards for you and one team member: track and control spending in real-time
Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.
Finding the right bank account is an essential part of your business.
We don't require credit checks
We have a quick online setup
We offer a direct debit payment
We keep fees low
Basic business bank accounts are ideal for business owners who may be experiencing difficulties with their credit score. These type of bank accounts offer you the option to open a basic account with no credit checks.
What they offer:
Debit cards
Online banking
The ability to pay into post offices or other establishments
Potential improvement on your credit rating
Quick setup and going to the branch is not required
Basic accounts generally offer no monthly fee, with fixed fees on payments in and out, withdrawals and deposits - meaning you'll always know what you're paying.
UK banks are more than likely going to reject business owners and directors who apply for a business current account if they have a poor credit history. Regardless of the company type for example; a limited company (a company which is a separate legal entity) – banks will still run a credit check on the directors and owners as standard.
Numerous banks will be more lenient with businesses, however this depends on the reason for the poor credit history. There are two types of bad credit which will not be overlooked, they are; bankruptcy and County Court Judgements.
Generally the bank will often decline a business because of the poor credit history, another reason for them declining the account is if the business owner or director has recently moved to the UK, or moved back therefore they are unable to provide the bank with any credit history.
For many directors and owners they just want to keep their personal finances separate to their businesses finances. Basic business bank accounts could be a cheaper option compared to the complex and pricey bank accounts.
If you are self-employed it is acceptable to use your personal current account. But, be aware that the bank can add fees onto your account if they see numerous transactions, which would ultimately turn into a business current account.
Benefits of basic current accounts
As with any bank account you can manage your account online and setup direct debits.
You will have access to pay money and cheques into any post office branch and some may also have access to a high street bank.
The process is very quick and does not involve a credit check. You will just need to confirm your ID.
A monthly fee is taken out of the account each month or annually depending on the account you choose. Also you will need to pay for cash withdrawals, this cost will be highlighted in advance.