What is the Best Business Bank Account for Small Businesses in the UK?

What is the best business bank account for small businesses in the UK? If you have a small business just starting up or looking for a switch, a new bank account is crucial. Not only can you find a bank that helps you manage your money, but you can also change to a new provider offering lower fees or better perks. That way, finding the right business bank account can empower your business.

At Business Quotes, we can help you find the best business bank account for small businesses in the UK in less time as well. We help you compare prices for business accounts from various providers, helping you see the full picture. It’ll only take minutes for you to compare prices, meaning you can find the best bank account without having to waste time. Here are just some of the options you could find when comparing prices:


One of the best business bank account options for small start-up businesses in the UK is Barclays. Barclays offer free banking for 12 months with their start-up specific account, and it includes cash flow management and forecasting. You can also get an account that gives a proportion of your charges back for more established small businesses based on your turnover. You’ll also get a mixed payment plan, ideal if you use cash, cheques and more.

best bank account for small business uk


HSBC offers a free business bank account (with no maintenance fees or payments) for the first 18 months of your contract. Not only that, it’s available for businesses with up to £10m of turnover, meaning this will stay even as you grow. Once the 18 months is over, you can switch to their electronic banking or small business tariff, depending on what’s best for you. You can also benefit from a Visa Commercial Card with a £32 annual fee.


Lloyds offer new businesses with a turnover of less than £3m 12 months of banking for free. That’s true of whether you’re getting your first account or switching, and it offers free electronic payments. While the free banking only lasts for 12 months, you’ll only have to pay a £7 fee after that. Not only that, Lloyds offers extra support for small businesses in areas like business loans, insurance and overdrafts.

Metro Bank

Metro Bank might have one of the best business bank account options for small businesses in the UK with their specialist account. Designed for start-ups and SME’s, you’ll get your maintenance fee waived if your balance remains over £5,000 each month. Not only that, you can get 50 fee-free UK transactions, helping you keep more of your earnings. As a result, it pays to run your business intelligently with this account.


Natwest’s start-up business account is open to businesses that have been trading for less than a year with <£1m of turnover. You can get free banking for 18 months before moving onto their standard tariff. And, with Natwest, you can also benefit from a mobile banking app, Mettle. This app offers no monthly fees and no minimum transaction fee, moving your business firmly into the digital age.


Santander offers two of the best business bank account options for small businesses in the UK. The first is the Business Current Account, ideal for start-ups, with an arranged overdraft of up to £25,000. After 18 months, the account costs £7.50 a month. And, with their 1|2|3 Business Current Account, you can get a cashback rate of 1, 2 or 3 per cent depending on how much money you deposit into your account each year.


TSB’s small business bank account has six months of free business banking. Not only that, you’ll benefit from this if you’re switching accounts, not just if you’re getting a new one. From there, you’ll pay only £5 a month after the six months, but you could pay nothing if you have a £10,000 average balance over that month. The account also comes with a free card reader from Square with no fees for your first £1,000 in sales.

Virgin Money

Virgin Money has teamed up with Clydesdale Bank and Yorkshire Bank to offer a single business account for small businesses in the UK. You can get their Business Current Account or their Business Choice Account depending on whether your turnover is above or below £6.5m. You’ll also automatically get cashback on both accounts of 0.35%, giving you the potential to earn up to £500 per year per debit card.

Digital Platforms

If you don’t want to set up with a traditional bank, digital platforms are also available. Companies such as ANNA, Revolut and Monzo offer small business accounts that give you plenty of flexibility and control. However, you won’t get the firm backing of a traditional banking institution. Either way, Business Quotes can help you find the best business account for small businesses in the UK on any platform.

best business bank account for small businesses uk

Best Business Bank Account for Small Businesses in the UK Prices

To find the best business bank account for small businesses in the UK, you need Business Quotes. We help businesses like yours save time and money by allowing you to compare prices from leading providers quickly. That way, you can get the best possible deal with ease. Start your quote using our price comparison tool today, or get in touch with our team to find out more! Whether you want cheap business accounts to save money or a more premium choice, the perfect one could only be a few steps away.

Categories: Advice, Merchant Accounts

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