No longer do you have to choose a high street bank for a business bank account. Recent years have introduced many new business banking solutions aimed at younger, tech-savvy people – but really, anyone with a phone or laptop can apply for an online account in minutes.

Limited companies and other business entities in the UK can choose between full-fledged bank accounts and e-money accounts, both managed online and/or through a mobile app. E-money accounts tend to have more limitations and a prepaid card instead of a regular debit card.

Common to business accounts online are the fast sign-up, ease of use, smart budgeting tools and (usually) no contract term. Your choice of company account will depend on other things which we shall point out in this business account comparison.

Not a registered company? See our comparison of business accounts for sole traders. The below accounts have different costs and limitations for the self-employed.

Account Cost Best for Link
Starling Bank
Bank account
£0-£7/mo Widest range of banking features, highly-rated support
Revolut
E-money account
£0-£100/mo Multi-currency accounts & business tools like payroll
Monzo Business
Bank account
£0-£5/mo Advanced budgeting tools & TransferWise integration
Monese
E-money account
£9.95*/mo Companies with owners based in EEA, multilingual support
Cashplus
E-money account
£69/yr No credit check required, business credit options
Tide
Bank account
£0-£49.99*/mo Get up to 35 cards & 5 accounts, legal helpline available

*Excluding VAT.

Account Best for Site
Starling Bank
bank account

£0-£7/mo
Widest range of banking features, highly-rated support
Revolut
e-money account

£0-£100/mo
Multi-currency accounts & business tools like payroll
Monzo Business
bank account

£0-£5/mo
Advanced budgeting tools & TransferWise integration
Monese
e-money account

£9.95*/mo
Companies with owners based in EEA, multilingual support
Cashplus
e-money account

£69/yr
No credit check required, business credit options
Tide
bank account

£0-£49.99*/mo
Get up to 35 cards & 5 accounts, legal helpline available

*Excluding VAT.

Starling Bank – with the broadest banking services

Starling Bank
Our rating
  • Bank account through app and web

  • With IBAN, Debit Mastercard and 24/7 support

  • EUR and USD accounts available

  • Business overdraft and loans available

Starling Bank is a full-fledged bank with the most ‘complete’ offering on this list. It offers business loans, overdraft options, a full Business Debit Mastercard and an excellent app for money management.

The Business account is free, with options to add on a Business Toolkit module with browser-based features like payment scheduling and connecting to HMRC to submit your VAT return via Making Tax Digital.

Starling Business account can be managed through an app or on your laptop.

To qualify, you need to live in the UK and have a limited company or partnership registered at Companies House. Only the business owner and Persons of Significant Control can access the Starling account, so it wouldn’t be suitable for other employees to manage your banking.

You can add a USD (£5/month) and Euro (£2/month) business account to avoid exchange fees when transacting on those currencies. Otherwise, the business account comes with an IBAN for international payments. You can send money to 38 countries and 20 currencies, and receive cross-border transactions in the currency of your Starling account.

Retailers can rest assured it’s possible to deposit large amounts of money (up to £20k in one go) and cheques into the account. The Starling app has extensive card controls, “spaces” where you can save money for your goals, and responsive 24/customer support through the app, email or by telephone.

Choose Starling Bank if: You want access to bank loans, an overdraft, a high quality app and great service.

Learn more in our Starling bank account review for companies

Revolut Business – internationally-minded, great for teams

Revolut
Our rating
  • E-money account via app and web

  • With IBAN, SWIFT and Prepaid Mastercard

  • Accounts in GBP & EUR, can add 28 more currencies

  • 24/7 support on paid plans

Although Revolut isn’t a bank, the platform provides e-money accounts with an extensive range of business tools for limited companies, partnerships and unlimited companies.

Revolut’s biggest draw is perhaps its ability to send and receive 28 different currencies from sub-accounts that can be added for free to the main account. This way, you can avoid foreign exchange rates if you normally have a lot of cross-border payments. The main GBP business account comes with an IBAN and SWIFT code.

Secondly, there’s no limit to how many plastic Prepaid Mastercards (there’s no Revolut Debit Card) you can request for staff members. This allows the business owner to monitor expenses, track usage and control cards remotely where needed.

Image: Revolut

Revolut Business has the most multi-currency accounts and account access for teams.

Companies can choose one of the following monthly subscriptions that can be cancelled any time.

Free: 5 free local payments/month. 10 free international payments/month. £3 per international payment. 10 free team members with account access and card (£5/month per extra staff).

Grow: 1 free metal Mastercard included. 100 free local payments/month. 10 free international payments/month. No markup on FX rate for up to £10k transactions. 10 free team members with account access and card.

Scale: 2 free metal Mastercards included. 1000 free local payments/month. 50 free international payments/month. No markup on FX rate for up to £50k transactions. 30 free team members with account access and card.

The Grow and Scale subscriptions also include subscription and expense management, a payroll system, 24/7 priority support, team member permissions, bulk payments and customisable payment workflows.

There are no credit, overdraft or loan options with Revolut yet, which is probably why there’s an option to link your high street bank account to the Revolut account so both can be accessed in the same (Revolut) app.

Choose Revolut Business if: You have a lot of foreign clients and need to manage staff expenses and payroll.

Learn more in our Revolut Business account review

Monzo Business – basic bank account, good for budgeting

Monzo
Our rating
  • Bank account through mobile app

  • Debit Mastercard included

  • TransferWise integration (no IBAN)

  • 24/7 customer support

Monzo is a big online bank in the UK, but its banking features aren’t as comprehensive for businesses as they are for personal accounts. That being said, banks that have business accounts with no fees per month, easy sign-up and a Debit Mastercard are worth including when compared with expensive alternatives.

The only type of business that Monzo accepts is limited companies (and sole traders if you’re not a registered company) – no partnerships, unlimited companies etc. are approved by Monzo.

Image: Monzo

Monzo Pro’s automated Tax Pots are useful for VAT saving.

There are two tiers of Monzo Business:

Lite: Free bank account managed in the Monzo app or web browser. Save money into ‘pots’ to separate it from main account balance. Digital receipts. Add spending limits for different categories. Free UK payments and cash withdrawals.

Pro: For £5 monthly, you can add two more users with their own Monzo debit card, send invoices, integrate accounting (Xero, QuickBooks, FreeAgent, or export transactions) and automatically set aside a percentage for a Tax Pot.

In other words, the Pro plan is better for companies as it lets you connect with professional accounting software, manage VAT and tax deductions and let colleagues access the bank account.

Basic business banking features like cash deposits (deposit limit is low: max. £1,000 over six months), bank transfers, Direct Debits and standing orders can be managed in Monzo accounts, but it does not directly cater to international payments. There is no IBAN for receiving cross-border transactions, but the Monzo app is connected with TransferWise for international payments. The business account can only store and receive GBP currency, so all currency exchanges happen through TransferWise.

Monzo does not offer business loans, overdrafts or credit cards for businesses, but 24/7 customer support is available to all users.

Choose Monzo Business if: You have a personal Monzo account and want to stick with the same bank for your business.

Learn more in our Monzo Business review

Monese – great for EEA residents with a UK company

Monese
Our rating
  • E-money account managed in app

  • Includes Prepaid Mastercard

  • GBP-only business account

  • Multilingual customer support

Monese Business is an e-money account for companies registered at Companies House in the UK. However – as the only option in this comparison – business owners can live anywhere in the EEA. This makes Monese the safest choice for UK business owners living in the EU because of Brexit.

Although customer support is only available during daytime hours on weekdays, you can message or speak with staff in any of 14 different languages, whereas other business accounts only offer English-speaking support.

Image: Monese

The Monese account is managed primarily in the app.

The Monese Business account is not free – you have to pay £9.95 monthly for a subscription (there are no tiered plans with more features).

This includes a Business Prepaid Mastercard, unlimited free UK payments, six free cash withdrawals per month, £900 free cash deposits a month, 0.5% fee on outgoing international transfers, and a 0.5% fee on card transactions in another currency.

Having said that, international payments aren’t immediately accessible. You don’t get your own IBAN or SWIFT code, but you can message Monese to request a shared IBAN offered to all Monese users.

It is then possible to receive pounds and euros into your GBP-only Monese account (euros will be converted into GBP). You can send international payments to 30+ countries around the world in different currencies.

The online business account is managed through the app, which lets you send invoices, create savings pots, set card controls and colour-code transactions according to categories. Monese does not offer business loans or overdrafts to businesses.

Choose Monese if: Your business is UK-registered but you need the flexibility to move between the UK and EEA.

Learn more in our Monese Business review

Cashplus – no credit check, with annual fee

Cashplus
Our rating
  • E-money account via app and web

  • Includes Prepaid Mastercard

  • GBP, USD and EUR accounts

  • Credit card and overdraft available

If you’re looking for business accounts for bad credit, Cashplus would rank highly because they don’t do any credit checks at sign-up. This means you’re almost guaranteed to be accepted as long as your business is a UK-registered limited company, partnership or public sector organisation.

The Cashplus Business current account is an e-money account managed through a mobile app or web portal. Every user gets a Prepaid Mastercard. Usually, you can apply for a Cashplus Business Credit Card, but applications for that are currently on hold. There is, however, an overdraft of up to £2,000 if needed.

Image: Cashplus