Your small business could save £100’s on monthly or annual fees by opening a free business bank account. Don’t pay unnecessary costs.
We have found 5 free business bank accounts
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Whether you are a small start-up looking to open a new business bank account, or a large established SME looking to switch, we have a range of online bank accounts that cater for all types of businesses.
We work with an extensive range of business bank account providers in the UK. Our comparison can help you choose the best offer that's right for your business so you can keep on top of your companies finances.
Whether your brand new business is a limited company or you’re a sole trader or self-employed - it doesn’t matter how big your business is; how you manage your money matters. Having a business bank account means you can easily separate your business finances from your personal, access business finance easier, and sign up for business credit cards. Plus, having separate accounts means filing your tax return is so much easier.
When you start to look at which business bank account is best for you, it can be overwhelming; there are many providers out there. They’ll try and tempt you with their best features, from business reviews to up to a 30 month fee-free transaction period. And some banks offer completely free business bank accounts - forever.
So when choosing a business bank account, you really need to weigh up each provider’s pros and cons - find out which account offers the best value for you. This can be a time-consuming process, but that’s where we come in. We’ve built a comparison tool to help business owners just like you find and compare the best free business bank accounts on the market right now.
Our tool is 100% free for you to use. Let’s compare free business bank accounts.Compare now
A free business bank account is just your average bank account for businesses, but you pay zero monthly fees. Sounds good, particularly if you’re keeping a close eye on those purse strings.
There are different types of free business bank accounts. Providers could offer:
Remember, you’ll still be charged on bounced direct debits or if your account is overdrawn. Free doesn’t mean you’re exempt from fines; the term ‘free’ is usually referring to the lack of monthly fees or annual basic charge.
To be eligible for a free business bank account, you must be a new company, either a sole trader, self-employed or limited company looking for your first account. You must also pass lender eligibility, and each provider’s requirements differ.
At Capalona, each of our providers has a dedicated page to help you figure out if they’re a good fit for you. Each page lists eligibility criteria, benefits and features, things to be aware of, and key facts. Our aim is to make your research mission as valuable as possible.
If you’re not currently using a free business bank account, you can switch to one easily.
It really depends on what you’re looking for. Saving money might be the most important thing for your business; in that case, a free forever bank account could be the best option. Alternatively, you might take US dollar payments from your clients, so you might need a bank account that caters specifically to those needs.
To make comparing lenders easier, you’ll find the latest free business bank account deals in the table above. We keep these regularly updated, so you know these are the best deals out there at the moment.
Applying for a free business bank account is straightforward. Simply compare the data in our table above. Click through to each provider to learn more about the benefits they’re offering, eligibility criteria and more about the deal.
Once you’ve found the best deal for you, click ‘go to site’ to visit the provider directly. From here, you can complete your application in full; it’s at this point, the provider will tell you the documentation required to open the account (usually valid photo ID).
Remember, just because you choose a provider doesn’t mean you can’t switch providers for a better deal in the future. You can switch bank providers at any time - just come back to us and compare deals again.
Yes, you can open an online business bank account for free. Many providers will offer a free introductory trial period where you will not pay any monthly fees on your business account. Be aware that other fees, rates and charges relating to the account will apply.
We’re a broker, which means our sole purpose is to help you find and apply for the best bank account deals. We’ve helped thousands of startups and SMEs in the UK access the business services they need to grow their company.
We’ve been there; finding the best business service deals can be tricky. With so many providers out there, it’s not hard to get confused. Our free tool can help make that task easier. Simply compare and choose the best business bank account deal for you.
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Compare business bank accounts from multiple providers.
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