Starting a new business? You will need to set up a startup business bank account. Find and compare the best deals today.
We have found 4 business bank accounts
Initial application fee of £55 then £12.50 per month
Free Banking Duration
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.
Starting a business can be exciting and stressful in equal measures, and, particularly in the early stages, you’ll be penny-pinching where you can. And the penny-pinching doesn’t stop when comparing startup business bank accounts. Getting the right bank account for your new business is crucial - and we’re not just talking about cost. Features differ across providers, so whether you’re looking for an account you can easily access and modify online, or you’d like a bit of in-person branch support, take the time to understand what each provider can offer your startup before diving in headfirst.
It’s worth remembering that providers usually offer 12 months without fees when you open a startup business account. But with some providers, those periods come to an end, so be wary about expected fees once this period comes to an end.
Ready to compare startup business bank accounts? Check out the accounts listed above.Compare now
As the name suggests, a startup business bank account is specifically designed for new small to medium companies looking for the very first bank account. These accounts are specifically designed with startups in mind, with some banks providing completely free bank accounts and some offering a 12 to sometimes 30-month fee-free introductory period.
To be eligible for a startup bank account you need to be a new company, sole trader or be self-employed and looking for your first small business bank account. You must also pass the bank’s eligibility criteria which could include having a turnover of less than £1m, trading for less than one year and being over the age of 18. But please bear in mind that all bank criteria is different.
We're always keeping our business bank account details up-to-date, so rest assured that the above-listed accounts are always the best deals on the market right now. 'Best' is very subjective. 'Best' can mean the best price; you can see the difference between provider pricing when you apply for a quote. But 'best' for your business might be a more extended initial fee-free period or a dedicated UK support team. Some banks offer monthly loyalty reward schemes, including face-to-face business reviews or a 'pay for what you use' model.
Yes, most start up business bank account providers allow you to open an account online. You will be required to apply with the provider directly, either on their website or app. After you’ve entered some basic details, your start up bank account could be set up in a matter of hours.
Applying for a startup business bank account is really easy, and it's all done online. Once you've decided which provider suits your needs best, click on 'go to site', which will take you directly to the provider's website, where you can complete your online application in full.
Step 1 - After you've compared bank deals in the table above, choose a deal by clicking one, and you'll be taken directly to the provider page.
Step 2 - Check eligibility criteria, benefits and transaction fees on their website. We do our best to update the information on our page, but it's always good to recheck.
Step 3 - If that particular provider is a good choice for your business needs right now, simply apply with them and follow their instructions.
We’re brokers, which means our business bank account comparison tool is completely free for you to use. We only work with reputable UK lenders, so you can trust that we are showcasing only the best deals for UK businesses.
We aim to offer unbiased financial information so you can make a balanced and informed decision.
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