How to Open Virgin Money Business Account

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Rosie Mullender

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Virgin Money Business Account

Having conquered the worlds of holidays, entertainment, gyms and mobile phones, in 1995 the Virgin group launched Virgin Money UK, a service-first bank that offers a range of current and business accounts. 

In October 2014, Virgin Money was taken over by Nationwide, but its 91 branches across England and Scotland will remain open until at least 2028, under their new owner’s ‘Branch Promise’.


<p>Virgin Money’s choice of business accounts includes the M Account for Business aimed at those with a turnover under £1m, and a Business Current Account for those hitting under £6.5m.</p><p>Other accounts on offer include a Business Choice Account for big businesses pulling in over £6.5m, and a Professional Firms Client Account for businesses managing funds on their clients’ behalf.</p><p>In this Virgin Money business account review, we’ll cast a beady eye over the M Account for Business, looking at how much you can expect to pay, the special features on offer, and how it shapes up against ANNA’s offering.</p><p>Read on for all you need to know about opening (and closing) a Virgin business bank account.&nbsp;</p><h2>What types of business bank accounts are available at Virgin Money?</h2><p>At ANNA, we have <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/">three types of business bank account</a>, tailored to the needs of you and your business. Meanwhile, Virgin Money also offers three different kinds of accounts for businesses – here’s a quick run-down of their key benefits.</p><h3>Virgin Money M Account for Business</h3><p>Virgin Money’s most popular account is aimed at businesses with a turnover under £1m a year. With no monthly fees, day-to-day digital banking is free, and you can also earn 0.25% cashback and discounts on business purchases with the Virgin Money Debit Card. By comparison, ANNA’s Pay As You Go business account offers up to 40% cashback on over 150 products and services, and the ability to manage multiple business expense cards.&nbsp;</p><h3>Virgin Money Business Current Account&nbsp;</h3><p>If your business’s turnover is between £1m and £6.5m, this could be the account for you. Fee-free for the first 25 months, benefits include cashback, discounts, and tools designed to help your business grow, including a free insights platform to help you get an overview of your performance, and mentoring from Virgin Startup.</p><h3>Virgin Money Business Choice Account</h3><p>Designed for concerns with £6.5m+ turnovers, this type of account is tailored to bigger businesses. Perks include three months of QuickBooks or Xero for free, expert support, plus the discounts and cashback that are a feature of each Virgin Money business bank account.&nbsp;</p><h2>Virgin Money business account review: key features</h2><p>With the Virgin Money M Account for Business being tailored to start-ups and small businesses, let’s take a look at the key features you can expect if you decide to open an account.</p><h3>No monthly fee</h3><p>Rather like ANNA’s Pay As You Go plan, The M Account is fee-free and comes with free online business banking.</p><h3>3 months’ free accounting software</h3><p>New and existing business account holders can now enjoy three months’ access to Xero or QuickBooks for free. The apps can also be integrated with the Virgin Money app, for streamlined accounting.&nbsp;</p><h3>Virgin StartUp mentoring</h3><p>In collaboration with other Virgin brands, Virgin Money offers its business account customers access to online resources and events, including podcasts and masterclasses.</p><h3>Rewards and discounts</h3><p>With your M Account for Business, you can earn 0.25% on debit card purchases. If you’re a trade customer there are some additional perks, including 15% off mobile and gadget insurance, and a £4 Costa Coffee voucher every month for four months.&nbsp;</p><h2>Virgin Money Business Bank Account pros &amp; cons</h2><h3>Pros</h3><ul><li>Currently (unlike some banks including <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-santander-business-account/">Santander</a> and <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-tsb-business-account/">TSB</a>), opening a Virgin Money business account is available open to new as well as existing customers. In case you missed it, ANNA also welcomes fresh faces with open arms.</li><li>Any money held in your business account is protected by the <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-fscs-protection/">Financial Services Compensation Scheme</a> up to £85,000.</li><li>Digital sign-up is available, which makes applying for an account relatively speedy.</li><li>The Virgin Money M Account for Business is rated five stars by Moneyfacts, which compares well against <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-a-lloyds-business-account-online/">Lloyds Bank’s business account</a> (three stars) and <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-co-operative-business-account/">The Co-operative Bank’s Business Directplus account</a> (three stars).</li><li>There’s no monthly fee to pay to access your account.</li><li>The Virgin Money Business app makes it easy to achieve day-to-day tasks like setting up Direct Debits, paying-in cheques and making same-day payments.</li></ul><h3>Cons</h3><ul><li>Some transactions, including CHAPS, SWIFT and SEPA payments are fairly pricey, and can mount up if you use them a lot.</li><li>This type of account is only available if your annual turnover remains under £1m.</li><li>You won’t find a bricks-and-mortar branch of Virgin Money in Wales or Northern Ireland, and branches in England and Scotland are relatively scarce too.</li><li>You can’t open a Virgin Money M Account for Business if your operations are based in the Channel Islands, the Isle of Man or Northern Ireland.</li><li>Compared to ANNA’s award-winning, 24/7 customer service, you might find Virgin Money lacking: while telephone banking is always on, the customer-service phone line is only available between 8am and 6pm on weekdays.</li></ul><h2>What are the requirements to open a Virgin Money Business Account?&nbsp;</h2><p>The key eligibility requirements to open your M Account for Business are:</p><ul><li>You, plus any other owners, directors, senior members of your management team and account signatories should all be aged 18 or over.</li><li>Your annual turnover must be under £1m.</li><li>Your business should be based in and operated from the UK – excluding the Channel Islands, the Isle of Man and Northern Ireland.&nbsp;</li></ul><p>There are also a few more criteria that could exclude you from opening an account. These include being currently bankrupt, having been disqualified as a company director in the past, or running a business related to medical cannabis.&nbsp;</p><h2>What documents do I need to provide to open a Virgin Money Business Account?</h2><p>Before opening your account, you need the authority to apply for an account on behalf of your business, and get your paws on a few key documents. Namely…</p><ul><li>Financial information, such as your business’s turnover plus your Companies House name or registration number (if you’re a limited company).</li><li>Three years of address history for you and any other directors, partners or members of senior management.</li><li>Proof of trading (if you can’t provide this right away, you have 6 months to do so before your account is closed).</li></ul><p>If you’re applying online, you’ll also be asked to take a ‘live’ selfie and provide ID documents to prove your identity.&nbsp;</p><h2>How much does a Virgin Money Business Account cost?</h2><p>They say there’s no such thing as a free lunch – and sadly, the same applies to a business bank account. Here are some of the fees you can expect to pay when you open a Virgin Money M Account for Business.</p><h3>Virgin Money monthly account fees</h3><p>There’s no monthly fee for holding a Virgin Money M Account for Business, but if your turnover is over £1m a year, you’ll have to look at opening a different type of Virgin Money account.</p><h3>Virgin Money international payment fees</h3><p>SWIFT payments cost £17.50 via Business Internet Banking, or £25.00 if you pay in-branch or via telephone banking.&nbsp;</p><p>SEPA payments (electronic payments made in Euros) cost £15.00 via Business Internet Banking, or £20.00 if you go into a branch or use telephone banking.</p><h3>Virgin Money local transfers in and out</h3><p>Automated local transfers, including Standing Orders and Direct Debits, plus payments made directly into your account, are free.&nbsp;</p><p>Debits and credits carried out in-branch or at the Post Office come with a charge of 95p per transaction. You can make a domestic bank transfer of up to £30,000 per transaction in-app or via online banking.&nbsp;</p><p><a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-chaps-payment/">CHAPS payments</a> cost £17.50 when conducted via Business Internet Banking, or £25.00 for transactions made in-branch or on the phone.</p><h3>Virgin Money pay cash in deposit</h3><p>Cash paid into your account via a branch of Virgin Money or at the Post Office costs 90p per £100.</p><h3>Virgin Money ATM withdrawals</h3><p>Making a cash withdrawal of sterling or euros using your debit card is free in the UK and EEA. There’s a daily cash withdrawl limit of £700, although you may be able to withdraw more over the counter in-branch.&nbsp;</p><h3>Can you pay a cheque in an online Virgin Money business?</h3><p>Yes, you can pay a cheque into your Virgin Money business account. If you do this using the app it’s free (although there’s a £1,000-per-cheque limit), while in-person payments cost 55p per cheque.&nbsp;</p><figure class="image"><img src="https://storage.googleapis.com/anna-website-cms-prod/virgin_Money_vs_ANNA_fees_6ca3640dd2/virgin_Money_vs_ANNA_fees_6ca3640dd2.png" alt="virgin Money vs ANNA fees.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_virgin_Money_vs_ANNA_fees_6ca3640dd2/thumbnail_virgin_Money_vs_ANNA_fees_6ca3640dd2.png 241w, https://storage.googleapis.com/anna-website-cms-prod/small_virgin_Money_vs_ANNA_fees_6ca3640dd2/small_virgin_Money_vs_ANNA_fees_6ca3640dd2.png 500w, https://storage.googleapis.com/anna-website-cms-prod/medium_virgin_Money_vs_ANNA_fees_6ca3640dd2/medium_virgin_Money_vs_ANNA_fees_6ca3640dd2.png 750w, https://storage.googleapis.com/anna-website-cms-prod/large_virgin_Money_vs_ANNA_fees_6ca3640dd2/large_virgin_Money_vs_ANNA_fees_6ca3640dd2.png 1000w" sizes="100vw" width="1000"><figcaption>Virgin Money vs ANNA fees comparison</figcaption></figure><h2>How to apply for a Virgin Money Business Account</h2><p>The quickest way to apply for your Virgin Money M Account for Business is to apply online. You’ll be taken through three steps, where you’ll be asked to provide information about you and your business, and receive all the documents you need regarding your account. The application process takes around 15-20 minutes, and almost 43% of customers will have their account up and running the same day.</p><h2>Virgin Money Business Account customer reviews</h2><p>An independent survey conducted as part of a regulatory requirement assessed 16 of the largest business bank account providers, including Virgin Money. The results, which were based on reviews from 1,200 customers, placed Virgin Money 9th in the rankings.</p><p>The results, which were released in February 2025, also revealed that 62% of Virgin Money business account customers would recommend Virgin Money’s online and mobile banking services to other SMEs (<a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-monzo-business-account/">Monzo</a> hit the top of the rankings in both categories).</p><p>TrustPilot’s reviews, collated from all customers (not solely business bankers) gives Virgin Money an ‘average’ rating of 3.3 across around 12,000 reviews. By comparison, ANNA receives a ‘great’ 4.2 rating based on over 3,900 reviews – it’s something we’re very proud of.&nbsp;</p><p>Negatives mentioned by Virgin Money customers include problems experienced with the app, and customer service that (unlike ANNA’s), isn’t available 24/7.&nbsp;</p><p>On Reviews.io, Virgin Money receives a 1.3 rating, but this is only based on 38 reviews.</p><h2>Virgin Money vs ANNA – a case study</h2><p>We want to help you make the right choice when it comes to a business account that offers everything you need. To help you see how Virgin Money’s M Account for Business compares to ANNA’s Big Business Plan, we’ve created a case study that demonstrates how the costs and benefits compare.</p><p>In this scenario, you’re a limited company with a turnover of under £1m. You’ve got a lot of money flowing in and out of your account, and are kept busy making regular transactions.&nbsp;</p><p><strong>A typical month might look something like this:</strong></p><ul><li>5 international payments of £1,500 each.</li><li>2 same-day CHAPS payments of £10,000 each.</li><li>10 ATM cash withdrawals of £50 each.</li><li>8 cash deposits of £2,500 each.</li></ul><p><strong>A Virgin Money business bank account would incur the following fees:</strong></p><ul><li>International payments: £87.50 (£17.50 per SWIFT transfer via Business Internet Banking)</li><li>CHAPS payments: £35 (£17.50 per transfer via Business Internet Banking)</li><li>ATM withdrawals: £0</li><li>Cash deposits £180 (90p per £100)</li><li>Standard monthly account fees: £0</li><li><strong>Total Virgin Money M Account for Business fees: £302.50</strong></li></ul><p><strong>Meanwhile, an ANNA Big Business plan would involve the following:</strong></p><ul><li>International payments: £5 (4 free SWIFT payments per month, then £5 each)</li><li>CHAPS payments £0 (unlimited free CHAPS payments)</li><li>ATM withdrawals: £0 (unlimited free ATM withdrawals)</li><li>Cash deposits: £0 (pay cash into your account commission-free)</li><li>Monthly account fees: £49.90 +VAT</li><li><strong>Total ANNA Big Business plan fees: £54.90 (plus VAT on your monthly account fees, which you can claim back if you’re VAT registered).</strong></li></ul><h2>Virgin Money vs ANNA – in summary</h2><p>Virgin Money’s business account perks and discounts, including cashback and discounts on business purchases, are (admittedly) pretty attractive – especially if you’re a trade customer.&nbsp;</p><p>But if your business has a turnover under £1m and you make lots of transactions each month, a Virgin Money M Account for Business might not be your best bet. With fees in place for several types of transaction, you could find yourself paying over the odds.</p><p>If you’re a start-up and you’re not sure what your incomings and outgoings might look like on an average month, you might also be better off considering an <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/start-up/">ANNA business account for start-ups</a>. Because we’re a start-up too, we understand the way you do business.&nbsp;</p><p>ANNA’s Big Business Plan might have a monthly fee attached, but it also comes with plenty of free transactions, including unlimited CHAPS payments and local bank transfers. We also offer up to 40% cash back on over 150 products and services, whichever ANNA account you choose.&nbsp;</p><p>We’ve got plenty of clever extras to help save you time when it comes to accounting (like smart AI that handles everyday bookkeeping and invoices that chase themselves), while ANNA’s +Taxes add-on can sort out your corporation tax and VAT for you if you’re a limited company.</p><p>And, when you’ve got a burning question, our customer support line is on hand 24/7, featuring real (and real friendly) people, based in Cardiff.&nbsp;</p><p>So why not <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/">open ANNA business account</a> today?</p>

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<h2>Summary table</h2><p>Stretched for time? Here are the key facts you need at a glance.</p><figure class="image"><img src="https://storage.googleapis.com/anna-website-cms-prod/virgin_Money_summary_table_5cf4208fcf/virgin_Money_summary_table_5cf4208fcf.png" alt="virgin Money summary table.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_virgin_Money_summary_table_5cf4208fcf/thumbnail_virgin_Money_summary_table_5cf4208fcf.png 111w, https://storage.googleapis.com/anna-website-cms-prod/small_virgin_Money_summary_table_5cf4208fcf/small_virgin_Money_summary_table_5cf4208fcf.png 357w, https://storage.googleapis.com/anna-website-cms-prod/medium_virgin_Money_summary_table_5cf4208fcf/medium_virgin_Money_summary_table_5cf4208fcf.png 536w, https://storage.googleapis.com/anna-website-cms-prod/large_virgin_Money_summary_table_5cf4208fcf/large_virgin_Money_summary_table_5cf4208fcf.png 714w" sizes="100vw" width="714"><figcaption>&nbsp;ANNA vs Virgin Money bank summary table</figcaption></figure>

<p><i><strong>Sources:</strong></i></p><ul><li><a target="_blank" rel="noopener noreferrer" href="https://uk.virginmoney.com/business/current-accounts/"><i>Virgin Money Business Current Accounts</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.moneyfactsgroup.co.uk/media/dzqk3ve2/mf-star-ratings-business-current-account-awarded-2025.pdf"><i>Moneyfacts Star Ratings for Business Current Accounts</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://uk.virginmoney.com/downloads/pdf/business/business-banking-tariffs/m-account-for-business-tariff-guide.pdf"><i>M Account for Business Tariff Guide</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://uk.virginmoney.com/business/current-accounts/m-account-for-business/"><i>Virgin Money M Account for Business</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.trustpilot.com/review/uk.virginmoney.com"><i>TrustPilot</i></a></li></ul>

How to Open Metro Bank Business Account

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A relative newcomer to the banking scene, Metro launched in 2010, making it the first high street bank to open in the UK in over 100 years. With a focus on customer relations, Metro positions itself as a ‘financial partner’ rather than simply a place to store money. 

Although there are currently only 76 branches of Metro across England and Wales – and none in Northern Ireland or Scotland – the bank has plans to expand, and currently handles 3m customer accounts.

 How to Open Metro Bank Business Account

<p>Metro offers a few different types of business account, including a Metro Business Bank Account tailored to start-ups, sole traders and limited companies with an annual turnover of less than £2m.</p><p>Other accounts in the mix include a Commercial Current Account for larger businesses, and a Foreign Currency Account for businesses with international partners – but in this article, we’ll be focusing on the standard Metro Business Bank Account.</p><p>We’ll review the key features of a Metro business account, the plus (and minus) points you need to know about, and see how it fares against one of ANNA’s most popular business banking plans.</p><p>And hopefully, in about *checks watch* 10 minutes’ time, you’ll be a lot more clued-up about how Metro’s business account compares to ANNA’s plans…</p><h2>What types of business bank accounts are available at Metro bank?</h2><p>Metro bank currently offers three main types of business bank account, aimed at small businesses, larger commercial businesses, and community concerns. There is also a Foreign Currency Account for those who regularly send and receive payments in foreign currencies, and an Insolvency Practitioner Account, for… well, insolvency practitioners. These, though, are the main accounts on offer.</p><h3>Metro Business Bank Account</h3><p>This account is aimed at small businesses, and is suitable for start-ups, sole traders and limited companies with a turnover of under £2m. With no monthly account fee if your balance keeps its head above water to the tune of £6,000 (or £8 per month if your balance is lower), this type of account also comes with a business overdraft facility and a dedicated Local Business Manager to help your small business grow.&nbsp;</p><h3>Metro Commercial Current Account</h3><p>If your business is a relative behemoth with a turnover of £2m+, it might be better suited to a Metro Commercial Current Account. This type of account comes with no monthly fee attached, and includes a Relationship Manager and specialist sector advice to meet your more complex, big-business needs.</p><h3>Metro Community Current Account</h3><p>An account designed for clubs, societies and charities, the Metro Community Account helps customers keep on top of community-led finances and comes with no monthly fees attached. Benefits include 200 fee-free transactions a month and, endearingly, free giant cheques for prize or charity donations. This type of account is particularly handy for TSB customers who wish to open a community account, as TSB’s Club, Charity and Society Account is no longer available.</p><h2>Metro business account review: Key Features</h2><p>With an eye on Metro’s flagship Business Bank Account, let’s review some of the key features you can expect from this type of account.</p><h3>Local business managers</h3><p>If you’re based within reach of a Metro branch, you can take advantage of appointment-free support from business managers who are ready and waiting to help you with your banking.&nbsp;</p><h3>Free services</h3><p>As long as you keep your balance in the black to the tune of £6,000, you won’t pay a monthly account fee, and you can also make the most of 30 free UK-based transactions a month. (By comparison, ANNA’s Pay As You Go plan is free whatever your balance, and offers a variety of always-fee-free transactions).</p><h3>Access to accounting tools</h3><p>A Metro Business Bank Account comes with a few handy tools, including Invoice It, an app that helps you get paid quickly and securely (particularly handy if you’re a sole trader), the ability to capture receipts and upload them to the Metro Bank app, and integration with Xero’s accounting software.&nbsp;<br>&nbsp;</p><h2>Metro Business Bank Account pros &amp; cons</h2><h3>Pros</h3><ul><li>Currently (like ANNA) Metro business accounts are open to new customers, while several banks, including <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-santander-business-account/">Santander</a> and <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-tsb-business-account/">TSB</a>, are only accepting applications from existing customers.</li><li>Account holders with access to one of Metro’s branches across England and Wales can take advantage of in-person service and access to a Local Business Manager.</li><li>A Metro Business Bank Account includes 30 free UK transactions – including cheque deposits, ATM withdrawals and Direct Debits – per month, providing your balance stays above £6,000.</li><li>You won’t be charged a monthly fee (again, this is as long as your balance remains above £6,000).</li><li>Business tools for account holders can help make your accounting run that bit more smoothly.</li><li>A Business Credit Card is available, and account holders can also apply for an overdraft of up to £60,000.</li><li>Business Online Banking is available to help you keep track of your business’s cash flow, and starts from £0 a month.</li><li>Your money is FSCS-protected to the tune of up to £85,000.</li></ul><h3>Cons</h3><ul><li>If your balance slips below £6,000, you’ll be charged £8 a month for your account.</li><li>Unless your balance is over £6,000, you’ll pay 30p per transaction for everyday services such as withdrawing cash from an ATM. This charge also applies after your first 30 transactions per month.</li><li>Metro Bank doesn’t have any branches in Northern Ireland or Scotland, and has relatively few (76) across England and Wales.</li><li>Like many banks, including <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-to-open-co-operative-business-account/">Co-operative Bank</a> and Santander, support isn’t always-on – the contact centre’s opening hours are Monday to Friday from 9am to 6pm. If you want 24/7, UK-based, award-winning support for your business, you’re better off with ANNA.</li><li>Unless you can access a branch, it can take a while for your Metro Business Bank Account to go live – switching accounts from another bank takes up to seven days. By contrast, an ANNA application typically takes around ten minutes, and will usually be approved within a few moments of completion.<br>&nbsp;</li></ul><h2>What are the requirements to open a Metro Business Account?&nbsp;</h2><p><strong>You can open a Metro Business bank Account if:</strong></p><ul><li>You’re aged 18 or over.</li><li>Your business’s turnover / annual balance sheet isn’t over £2m a year.</li><li>You’re a sole trader, limited company, limited guarantee, or limited-liability partnership.</li><li>Your business is owned by individuals – parent companies aren’t eligible.</li></ul><p>If you’re the sole trader or signatory, you need to be a UK resident. In cases where there’s more than one signatory, director or owner attached to your Metro business account, at least half of them must be based in the UK.</p><h2>What documents do I need to provide to open a Metro Business Account?</h2><p>You’ll need to collect together a few documents before you apply for a Metro Bank business account. First things first, you’ll need proof of ID, like a valid passport or a full UK driving licence.</p><p>You’ll also need to provide two proofs of address. Accepted documents include valid photocard driving licenses, council tax bills, a credit card statement from the last three months (with your name on it, not the name of your business) or documents from HMRC.</p><p>All types of business will also need to supply documents to confirm the business owner or business’s name, its trading name, and/or the business’s trading address. These could include a business bank statement or utility bill from the last three months.&nbsp;</p><h2>How much does a Metro Business Account cost?</h2><p>Here’s a review of some of the key Metro business account fees you need to know about.</p><h3>Metro monthly account fees</h3><p>As long as your balance stays above £6,000, there’s no monthly fee for your Metro&nbsp;<br>Business Bank Account. If it dips below £6,000, you’ll pay £8 a month.</p><h3>Metro international payment fees</h3><p>International payments using SWIFT cost £25, while SEPA (electronic payments in Euros) costs 20p per transaction.</p><h3>Metro local transfers in and out</h3><p>Standard local payments – including <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-bacs-payment/">BACS</a>, debit card payments, <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-do-direct-debits-work/">Direct Debits</a> and Faster Payments – cost 30p each in a month when your balance is less than £6,000. If you have over £6,000 in your account, you can enjoy 30 free transactions of this type per month.</p><p>Same-day <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-chaps-payment/">CHAPS</a> payments cost £25.</p><h3>Metro pay cash in deposit</h3><p>Depositing, withdrawing or exchanging cash in-branch costs 1% of the total amount.&nbsp;</p><h3>Metro ATM withdrawals</h3><p>ATM withdrawals come under the same umbrella as other local transfers: you’ll pay 30p per withdrawal if your balance is under £6,000, and if it’s over that, you can make 30 ATM withdrawals (or other local transfers) for free each month before having to pay.&nbsp;</p><h3>Can you pay a cheque in an online Metro business?</h3><p>UK cheque deposits into your Metro Bank business account cost the same as ATM withdrawals, depending on your account balance. Cheque deposits in USD cost £10 per cheque up to $6,500, and £20 for above $6,500, while cheque deposits in EUR cost £10 per cheque up to €5,500, and £20 if you’re depositing a cheque worth more than that.</p><h2>Metro vs ANNA Fees</h2><p>We’ve summarised the cheapest fees for ANNA and Metro in the table below.<br>&nbsp;</p><figure class="image"><img src="https://storage.googleapis.com/anna-website-cms-prod/Metro_vs_ANNA_fees_12d6510027/Metro_vs_ANNA_fees_12d6510027.png" alt="Metro vs ANNA fees.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_Metro_vs_ANNA_fees_12d6510027/thumbnail_Metro_vs_ANNA_fees_12d6510027.png 211w, https://storage.googleapis.com/anna-website-cms-prod/small_Metro_vs_ANNA_fees_12d6510027/small_Metro_vs_ANNA_fees_12d6510027.png 500w, https://storage.googleapis.com/anna-website-cms-prod/medium_Metro_vs_ANNA_fees_12d6510027/medium_Metro_vs_ANNA_fees_12d6510027.png 750w, https://storage.googleapis.com/anna-website-cms-prod/large_Metro_vs_ANNA_fees_12d6510027/large_Metro_vs_ANNA_fees_12d6510027.png 1000w" sizes="100vw" width="1000"><figcaption>Metro bank vs ANNA fees comparison</figcaption></figure>

<h2>How to apply for a Metro Business Account</h2><p>You can apply for a Metro Bank UK business account either in-branch or online. If you head in-store with your documents in hand (see ‘What documents do I need to provide to open a Metro Business Account?’) most customers can expect their account to be opened on the same day. You can also request a callback to make an appointment.</p><p>If you apply online and your business has multiple directors, you’ll each be given a unique code to complete your part of the application.&nbsp;</p><h3>Metro Business Account customer reviews</h3><p>February 2025 saw the results of an independent survey into business current accounts being released. The survey reviewed 16 of the largest providers, and ranked them from 1 to 16.</p><p>These results revealed that of 1,200 Metro Bank business account customers, 65% would recommend Metro to other SMEs, while 68% would recommend its online and mobile banking services.</p><p>TrustPilot (which accepts reviews from all customers, not just business ones) tells a slightly different story: here, Metro has a ‘poor’, rating of 1.8 across around 5,300 reviews, while ANNA receives a ‘great’ 4.2 rating based on over 3,900 reviews.</p><p>One of the biggest bugbears reported by customers is problems contacting the bank and issues with customer service – in stark contrast to ANNA’s award-winning, 24/7 support, which is based in Cardiff.</p><p>On Reviews.io, only 12% of reviewers would recommend Metro, with a 1.5 rating based on around 220 reviews.</p><h2>Metro vs ANNA – a case study</h2><p>So you can make a more informed choice, we’ve created a case study that tells you in black and white (and a dash of ANNA’s trademark terracotta orange) how Metro’s Business Bank Account and ANNA’s Big Business Plan measure up against each other.</p><p>In this scenario, you’ve got a healthy bank balance that’s comfortably over £6,000, and you don’t expect to dip below that amount during your average month.&nbsp;</p><p><strong>You’ve also identified some of the most common monthly transactions you need to make so your business can run efficiently:</strong></p><ul><li>4 SWIFT payments of £1,000 each.</li><li>2 same-day CHAPS payments of £10,000 each.</li><li>10 ATM cash withdrawals of £50 each.</li><li>6 cash deposits of £2,000 each.</li></ul><p><strong>A Metro Business Bank Account with a balance of over £6,000 would incur the following fees:</strong></p><ul><li>SWIFT payments: £100 (£25 per transaction)</li><li>CHAPS payments: £50 (£25 per transfer)</li><li>ATM withdrawals: £0</li><li>Cash deposits £120 (1% per deposit)</li><li>Standard monthly account fees: £0</li><li><strong>Total Metro Business Bank Account fees: £270</strong></li></ul><p><strong>Meanwhile, an ANNA Big Business plan would involve the following:</strong></p><ul><li>International payments: £0 (4 free SWIFT payments per month)</li><li>CHAPS payments £0 (unlimited free CHAPS payments)</li><li>ATM withdrawals: £0 (unlimited free ATM withdrawals)</li><li>Cash deposits: £0 (pay cash into your account commission-free)</li><li>Monthly account fees: £49.90 +VAT</li><li><strong>Total ANNA Big Business plan fees: £49.90+VAT (which you can claim back if you’re VAT registered).</strong></li></ul><h2>Metro vs ANNA – in summary</h2><p>Metro’s £0 monthly fees and 30 free transactions per month if your account remains in the black to the tune of £6,000 make it an attractive prospect for small businesses that don’t make larger transactions. But our case study reveals that if you’re a limited company or sole trader that makes regular international and cash deposits, the costs can quickly add up.</p><p>If your balance dips below £6,000, you could also get stung by extra charges without realising it, including an £8 per month account fee, and 30p each for simple transactions such as ATM withdrawals and bill payments. So if you’re a start-up, you might be better off with an ANNA business account for start-ups.</p><p>Meanwhile, ANNA’s Big Business Plan might have a monthly fee attached, but it also comes with plenty of free transactions, including unlimited CHAPS payments and unlimited local bank transfers.</p><p>When you need to speak to someone, stat, Metro’s weekdays-only customer service doesn’t quite cut the mustard compared with ANNA’s 24/7, all-singing, all-dancing (and all-human) support.</p><p>You can apply for an <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/">ANNA business account</a> online, and be up and running within ten minutes – there’s no need to leave the comfort of your sofa if you want a business bank account set up fast. And while Metro offers a few helpful accounting tools, ANNA’s <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/">+Taxes</a> add-on can actually sort out your corporation tax and VAT if you’re a limited company. Which is one less (pretty boring) job to worry about.<br>&nbsp;</p>

<h2>Summary table</h2><p>Compare the ANNA Big Business Plan and Metro Business Bank Account at a glance.<br>&nbsp;</p><figure class="image"><img alt="Metro summary table.png" src="https://storage.googleapis.com/anna-website-cms-prod/Metro_summary_table_1e1fbfcdc7/Metro_summary_table_1e1fbfcdc7.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_Metro_summary_table_1e1fbfcdc7/thumbnail_Metro_summary_table_1e1fbfcdc7.png 111w, https://storage.googleapis.com/anna-website-cms-prod/small_Metro_summary_table_1e1fbfcdc7/small_Metro_summary_table_1e1fbfcdc7.png 357w, https://storage.googleapis.com/anna-website-cms-prod/medium_Metro_summary_table_1e1fbfcdc7/medium_Metro_summary_table_1e1fbfcdc7.png 536w, https://storage.googleapis.com/anna-website-cms-prod/large_Metro_summary_table_1e1fbfcdc7/large_Metro_summary_table_1e1fbfcdc7.png 714w" sizes="100vw" width="714"><figcaption>ANNA vs Metro bank summary table</figcaption></figure>

<p><i><strong>Sources:</strong></i></p><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.metrobankonline.co.uk/globalassets/annual-report-2024.pdf"><i>Metro Bank Annual Report</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.metrobankonline.co.uk/business/current-accounts/needsbased/business-service-quality/"><i>Metro Service Quality</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.metrobankonline.co.uk/globalassets/documents/customer_documents/intermediaries/business-bank-account.pdf#pricing"><i>Metro Business Bank Account Pricing</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://uk.trustpilot.com/review/www.metrobankonline.co.uk"><i>TrustPilot&nbsp;</i></a></li></ul>

How to open Co-operative business account

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Touted as "the original ethical bank", The Co-operative started life back in 1872, when it was founded in an effort to change the status quo by paying fair wages and supporting the local community.

Since then, The Co-op has sustained its ethical stance: over 30 years ago, it was the first UK high-street bank to launch a customer-led Ethical Policy, which ensures its money doesn’t go towards supporting oppressive regimes and fossil-fuel extraction, among other notable concerns.

<p>Its stance makes it a good choice for ethical businesses (just like ANNA, which is founded on transparency, fairness and inclusion – you can read our <a target="_blank" rel="noopener noreferrer" href="https://anna.money/ethics-statement/">Ethics Statement here</a>, and it also offers a range of business bank accounts to suit a variety of needs.&nbsp;</p><p>To help you sort the wheat from the chaff when it comes to a Co-operative business account, we’ve created this review of each key type of account. We’ve covered the pros and cons, the main features you can expect from a Co-operative business bank account, and (perhaps most importantly) shown how one of ANNA’s most popular business banking plans compares to Co-op’s offerings.</p><p>Let’s switch on our business brains and get stuck in…</p><h2>What types of business bank accounts are available at Co-operative?</h2><p>Currently, Co-operative Bank offers a few different types of business account. The Co-operative Business Bank Account is designed for start-ups and small businesses, while the Business Directplus account is aimed at businesses of all sizes that occasionally pay in cash or cheques.</p><p>The Co-op also offers a couple of specialist business bank accounts, including a Charity and Community Bank Account, and a Federation of Small Businesses Account, which is aimed at members of the FSB.</p><p>Previously, The Co-operative Bank offered Cash Tariff and Standard Tariff accounts, but as of 31 March 2025, these are no longer available.</p>

By comparison, ANNA offers three business plans, which offer different benefits depending on the needs of your business: Pay As You Go, Business, and Big Business.

<h3>Co-operative Business Bank Account</h3><p>Described as ideal for start-ups and small businesses that like to bank digitally, the Co-operative Business Bank Account is relatively simple. There are no monthly fees, and you can choose the savings and overdraft options that suit your growing business.</p><p>There are also a few perks available to help you on your way, including access to free merchant services software, discounted Clover payment terminals and an app that helps you send and chase invoices.</p><h3>Co-operative Business Directplus</h3><p>If you’re a start-up or established business that occasionally needs to pay in cash and cheques, this type of account could be for you. Requiring a £1,000 minimum balance, the Directplus account comes with free access to a payment request tool, mobile and online banking services and accountancy software integration. It also comes with a £0 monthly fee for the first 30 months, after which you’ll pay £7 a month.</p><h2>Co-operative business account review: Key Features</h2><p>While some of the key features of the Co-operative Business Directplus and Co-operative Business Bank Account overlap, others are unique to each type of account. Confused? Here are the main things you need to know.</p><h3>No monthly fees (for at least 30 months)</h3><p>The Co-operative Business Bank Account is absolutely free (rather like a £0-a-month ANNA Pay As You Go plan), while the Business Directplus account is free for the first 30 months of your account. After that – or if your balance dips below £1,000 – you’ll pay £7 a month.</p><h3>Payment request tool</h3><p>Both types of Co-op business account include access to an app called Go Get Paid, which allows users to send invoices, accept payments and create automatic payment requests for streamlined accounting.&nbsp;</p><h3>Accountancy software integration</h3><p>You might currently use accountancy software such as Xero or QuickBooks – or perhaps you’ll need to start using it when Making Tax Digital kicks in in April 2026. If this is you, both types of Co-operative business bank account allow you to integrate them with your account.</p><h3>Tools to help you grow</h3><p>As well as Go Get Paid, each type of account has its own tools to help your business get further, including an optional subscription to Finance Director Online (which helps with more complex payment types like bulk <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-bacs-payment/">BACS</a>) for Business Directplus customers, and discounted Clover payment terminals for Co-operative Business Bank Account holders.</p><h3>Savings and overdrafts</h3><p>Both the Co-operative Business Directplus and Co-operative Business Bank Accounts offer optional arranged overdrafts and savings accounts.</p><h2>Co-operative business account pros &amp; cons</h2><p>While the Co-operative Business Bank Account and Co-operative Business Directplus accounts have their own pros and cons, they’re generally quite similar when it comes to their plus points – and those things that aren’t so positive. Here’s what you need to know.&nbsp;</p><h3>Pros</h3><ul><li>There’s no monthly fee for at least the first 30 months (and permanently if you choose a Co-operative Business Bank Account.</li><li>A dedicated switching team is on hand if you’re thinking of switching from another business bank account to one of The Co-op’s.</li><li>Business bank account holders can access free merchant services software, and free mobile and online banking services.</li><li>Accountancy software integration (think Xero and Sage) is available for free.</li><li>A dedicated app called Go Get Paid allows Co-operative Business Bank Account holders to send invoices and receive payments wherever they are.</li><li>Your money is protected by the FSCS to the tune of up to £85,000.</li></ul><h3>Cons</h3><ul><li>Unlike ANNA’s award-winning, 24/7 support, the Co-operative’s customer service isn’t always on. Opening hours for general enquiries are Monday to Friday 8am to 6pm, and Saturday 9am to midday.</li><li>Opening an account takes, on average, five business days, although it can be longer – so if you don’t want to wait to start your business banking, you’re better off with ANNA.</li><li>After 30 months, the standard monthly tariff of a Directplus Business account rises to £7 a month. A £1,000 minimum balance also applies to this type of account – and if you drop below it, you’ll be charged.</li></ul><h2>What are the requirements to open a Co-operative Business Account?&nbsp;</h2><p>To open your Co-operative business bank account, whether you’ve chosen a Business Bank Account or Business Directplus, you need to fulfil a few requirements:</p><ul><li>You must be 18 or over.</li><li>You should be a sole trader, in a partnership or limited liability partnership, or a limited company.</li><li>You must be resident in the UK, and your business address also needs to be UK-based.</li><li>Your financial affairs need to be sound (for example, you should be free of missed credit payments in the last six months, and from CCJs over the last six years).</li><li>There are additional rules for limited companies – for example, your business’s director must never have been disqualified.</li></ul><h2>What documents do I need to provide to open a Co-operative Business Account?</h2><p>To open your account, you’ll need to make sure you have a few documents to hand. These include proof of your identity, like a passport or driver’s licence, plus proof of address (including that of your business, if it’s different to your home address) – documents such as bank statements and recent council tax bills are usually accepted.</p><p>You’ll also need to provide details of your business, such as your Companies House registration (where applicable), your tax status, the nature of your business and your expected turnover and cash flow.&nbsp;</p><h2>How much does a Co-operative business account cost?</h2><h3>Co-operative monthly account fees</h3><p>A Co-operative Business Account is free, with no monthly fees attached (rather like ANNA’s no-nonsense Pay As You Go plan).</p><p>Business Directplus is free for 30 months, unless your balance falls below £1,000, in which case you’ll be charged £7. After 30 months, the fee is £7.</p><h3>Co-operative international payment fees</h3><p>International fees are the same whether you hold a Co-operative Business Account or a Business Directplus account.</p><p>It’s free to make payments in Euros via SEPA with a Co-op business account. Sending payments in USD costs £8 when made via telephone banking or in writing, and £5 via online banking.</p><p>Using SWIFT to make international payments costs £10 for payments using online banking, and 0.25% of the value of the transaction (to a minimum of £13 or maximum of £35) for payments made via telephone banking or in writing.</p><p>Meanwhile, <a target="_blank" rel="noopener noreferrer" href="https://anna.money/pricing/">ANNA’s Pay As You Go plan</a> charges a flat 1% conversion fee via SWIFT, which we could argue is less of a head-scratcher...</p><h3>Co-operative local transfers in and out</h3><p>Automated debits and credits, including standing orders, Faster Payments and BACS, are free with either type of Co-op business bank account.</p><h3>Co-operative pay cash in deposit</h3><p>If you have a Co-operative Business Account, paying cash in or out costs £1.50 per £100 withdrawn or deposited.</p><p>With a Business Directplus account, cash withdrawals are free, and you can pay in £1,000 free per charging period – then it’s 80p per £100 after that.</p><p>With ANNA’s Pay As You Go plan, cash deposits are absolutely free. Just saying…</p><h3>Co-operative ATM withdrawals</h3><p>With both types of Co-operative business account you can withdraw up to £250 a day for free (from non-charging ATMs, which might add their own fee on top). This limit can be increased up to £500 in £10 increments if you contact the bank.&nbsp;</p><h3>Can you pay a cheque in an online Co-operative business?</h3><p>It costs £1.50 to pay each cheque into your Co-operative Business Account, and the same to issue a cheque. Paying up to 25 cheques into a Business Directplus account is free per charging period, then it’ll cost you 75p each. Stopping a cheque that you’ve issued into either type of account costs £5.</p>

<h2>Co-operative vs ANNA Fees</h2><p>We’ve summarised the cheapest fees for ANNA and Co-operative in the table below.</p><p>&nbsp;</p><figure class="image"><img style="aspect-ratio:1845/1362;" src="https://storage.googleapis.com/anna-website-cms-prod/Co_op_vs_ANNA_fees_7b551612ee/Co_op_vs_ANNA_fees_7b551612ee.png" alt="Co-op vs ANNA fees.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_Co_op_vs_ANNA_fees_7b551612ee/thumbnail_Co_op_vs_ANNA_fees_7b551612ee.png 211w,https://storage.googleapis.com/anna-website-cms-prod/small_Co_op_vs_ANNA_fees_7b551612ee/small_Co_op_vs_ANNA_fees_7b551612ee.png 500w,https://storage.googleapis.com/anna-website-cms-prod/medium_Co_op_vs_ANNA_fees_7b551612ee/medium_Co_op_vs_ANNA_fees_7b551612ee.png 750w,https://storage.googleapis.com/anna-website-cms-prod/large_Co_op_vs_ANNA_fees_7b551612ee/large_Co_op_vs_ANNA_fees_7b551612ee.png 1000w," sizes="100vw" width="1845" height="1362"><figcaption>Co-operative vs ANNA fees comparison</figcaption></figure><h2>How to apply for a Co-operative Business Account</h2><p>You can apply for your Co-op business account online. You’ll need a valid passport or driving license, plus a smartphone or tablet. It’s a good idea to have any necessary documents ready (which we’ve covered under our review section, ‘What documents do I need to provide to open a Co-operative Business Account?’ too.</p><p>If you like, you can apply for an overdraft and savings account as part of your application. Once you’ve started the application process, you’ll have the chance to save your progress – after which you’ll have 45 days to finish and submit your application before you have to start again.</p><h2>Co-operative Business Account customer reviews</h2><p>As part of a regulatory requirement, Co-operative Bank – along with 15 other of the largest business current account providers – was the subject of an independent survey of its business customers.</p><p>The results, which were published in February 2025, showed that of 1,200 Co-operative business account customers, 48% would recommend The Co-operative business banking to other SMEs, while 40% would recommend its online and mobile banking services, placing it at the bottom of the rankings for both criteria.</p><p>Taking a look at TrustPilot reviews (which are written by all customers, not just business ones) we can see that The Co-operative Bank has an ‘excellent’ 4.4 rating across over 13,000 reviews.</p><p>Some of the more negative reviews highlight poor customer service – in contrast to ANNA’s award-winning, 24/7 helpline – although The Co-operative Bank is responsive to complaints online.</p><p>On Apple’s app store, the Co-operative Bank Business app has a 1.5-star rating from 230 reviews.</p><h2>Co-operative Bank vs ANNA – a case study</h2><p>If you’re wondering how an ANNA plan compares with The Co-operative Bank’s business accounts, this case study will help you see the different ways they operate, side-by-side.</p><p>In our case-study scenario, you’re a sole trader who has recently started up in business, and is considering opening a Co-operative Business Bank Account or an ANNA Pay As You Go plan.</p><p><strong>Each month, your business banking transactions look something like this:</strong></p><ul><li>5 international (non-Euro) payments of £500 each</li><li>5 cash deposits of £500 each</li><li>4 outgoing local transfers of £1,500 each</li><li>3 ATM cash withdrawals of £200 each</li></ul><p><strong>A Co-operative Business Bank Account would incur the following fees:</strong></p><ul><li>International payments: £50 (£10 per online transaction)</li><li>Cash deposits £37.50 (£1.50 per £100)</li><li>Local transfers: £0</li><li>ATM withdrawals: £0</li><li>Standard monthly account fees: £0</li><li><strong>Total Co-operative Business Account fees: £87.50</strong></li></ul><p><strong>Meanwhile, an ANNA Pay As You Go plan would involve the following:</strong></p><ul><li>International payments: £25 (1% currency conversion fee)</li><li>Cash deposits: £0</li><li>Local transfers: £0</li><li>ATM withdrawals: £0</li><li>Monthly account fees: £0</li><li><strong>Total ANNA Pay As You Go plan fees: £25</strong></li></ul><h2>Co-operative Bank vs ANNA – in summary</h2><p>If you’re a business that makes regular cash deposits and international payments, an ANNA Pay As You Go plan seems to make more sense than a Co-operative Business Account.</p><p>ANNA’s Pay As You Go plan costs £0 a month, forever – but if you choose an ANNA plan that charges a monthly fee and you don't use your account for a month, you don't have to pay the fee for that month. It’s just one of the reasons we’re known for Absolutely No Nonsense Admin.</p><p>You can <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/">open an ANNA business account online</a>, and if you need any help getting set up (or with using your account once you’ve got started), our 24/7 support line is there to help, and will connect you within ten minutes to a real person. We can even help you officially register your company at <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-companies-house/">Companies House</a>.</p><p>Other benefits include our nifty <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/">+Taxes</a> add-on, which gives ANNA the job of all the heavy lifting when it comes to your corporation tax and VAT, saving you valuable time and money. Features such as <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/payroll/">payroll</a>, credit and bulk payments are also available, making cutting through the nonsense no big deal.</p>

<h2>Summary table</h2><p>Everything you need to compare the ANNA Pay As You Go plan and Co-operative business banking, all in one place.<br>&nbsp;</p><figure class="image"><img style="aspect-ratio:1845/2802;" src="https://storage.googleapis.com/anna-website-cms-prod/Co_op_summary_table_23e4c9b795/Co_op_summary_table_23e4c9b795.png" alt="Co-op summary table.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_Co_op_summary_table_23e4c9b795/thumbnail_Co_op_summary_table_23e4c9b795.png 103w,https://storage.googleapis.com/anna-website-cms-prod/small_Co_op_summary_table_23e4c9b795/small_Co_op_summary_table_23e4c9b795.png 329w,https://storage.googleapis.com/anna-website-cms-prod/medium_Co_op_summary_table_23e4c9b795/medium_Co_op_summary_table_23e4c9b795.png 494w,https://storage.googleapis.com/anna-website-cms-prod/large_Co_op_summary_table_23e4c9b795/large_Co_op_summary_table_23e4c9b795.png 658w," sizes="100vw" width="1845" height="2802"><figcaption>&nbsp;ANNA vs Co-operative bank summary table</figcaption></figure>

<p><i><strong>Sources:</strong></i></p><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.co-operativebank.co.uk/pdfs/bank/business/currentaccounts/business-bank-account-tariff.pdf"><i>Co-operative Business Bank Account Tariffs</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.co-operativebank.co.uk/pdfs/bank/business/currentaccounts/business-directplus-tariff.pdf"><i>Co-operative Directplus Tariffs</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.co-operativebank.co.uk/business/products/bank-accounts/startup-small-business-account/"><i>Co-operative Small Business Account</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://www.co-operativebank.co.uk/business/products/bank-accounts/business-directplus/"><i>Co-operative Directplus Account</i></a></li><li><a target="_blank" rel="noopener noreferrer" href="https://uk.trustpilot.com/review/co-operativebank.co.uk"><i>TrustPilot&nbsp;</i></a></li></ul>

How to open TSB business account online

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TSB Business Account Review

TSB’s history stretches back 200 years, so it knows a thing or two about supporting businesses and their money. With more than 5 million customers, it’s one of UK banking’s big-hitters – although it’s currently in the process of being bought out by its rival [Santander](https://anna.money/blog/guides/how-to-open-santander-business-account/), with a deal expected to go through in early 2026. 

TSB currently offers one main type of business account, although it’s currently only open to existing customers (unlike an ANNA business account, which is open to almost anyone who likes the cut of our jib).

<h2 dir="ltr" data-pm-slice="0 0 []">How much does a TSB Business Account cost?</h2><h3 dir="ltr">TSB monthly account fees</h3><p dir="ltr">Free for 30 months, then £5 a month, which is waived if your average monthly balance is £10,000+. In comparison, an ANNA Pay As You Go Plan comes with no monthly fees attached.&nbsp;</p><h3 dir="ltr">TSB international payment fees</h3><p dir="ltr">It’s free to make non-urgent payments in Euros via SEPA, otherwise it’s £15 using internet banking, and £21 for standard international payments elsewhere.</p><h3 dir="ltr">TSB local transfers in and out</h3><p dir="ltr">Electronic payments made in or out of your account, including <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/how-do-direct-debits-work/"><a target="_self" rel="noopener noreferrer nofollow" id="">Direct Debits</a></a> and Standing Orders in sterling, are free.&nbsp;</p><h3 dir="ltr">TSB pay cash in deposit</h3><p dir="ltr">Paying cash in or out of your TSB business account, plus cash exchanges, are free for the first 30 months. After your introductory period is up, you’ll pay 70p per £100 (or, if you choose ANNA for your business banking, cash deposits are absolutely free).</p><h3 dir="ltr">TSB ATM withdrawals</h3><p dir="ltr">The standard limit on using your TSB Business Account card is £700 per cardholder per day, as long as you have the funds available. This service is available at over 50,000 cash machines in the UK.&nbsp;</p><h3 dir="ltr">Can you pay a cheque in an online TSB business?</h3><p dir="ltr">Cheques paid in or out of your TSB business account are charged at 70p per transaction once your 30-month introductory period is up (before that, it’s free).</p><p><img src="https://storage.googleapis.com/anna-website-cms-prod/a_G_Mc_U_Mq_NJ_Qq_Hwj_J_2025_07_10_ANNA_vs_TSB_fees_d4f5f0a290/a_G_Mc_U_Mq_NJ_Qq_Hwj_J_2025_07_10_ANNA_vs_TSB_fees_d4f5f0a290.avif" alt="aG_McUMqNJQqHwjJ_2025-07-10-ANNA-vs-TSB-fees.avif" width="null" height="null"></p><h2 dir="ltr">How to apply for a TSB Business Account</h2><p dir="ltr">It’s possible to apply for a TSB business account online, although you need to present your ID and proof of address in-branch. Once TSB has all the necessary documents, it will aim to be in touch regarding your account within 5 working days.</p><h2 dir="ltr">TSB Business Account customer reviews</h2><p dir="ltr">In February 2025, an independent survey reviewed 16 of the largest business current account providers. It revealed that of 1,200 TSB business account customers, 55% would recommend TSB to other SMEs, and 60% would recommend its online and mobile banking services.</p><p dir="ltr">When looking at TrustPilot reviews, TSB has a ‘great’ 4.2 rating across almost 27,000 reviews (just like an online bank with no monthly fees we could mention, thanks to over 3,500 reviews…). Some of the more negative reviews for TSB report issues when making business transactions, and technical problems with the app.</p><p dir="ltr">On Reviews.io, TSB has a less-favourable rating of 1.8, although this is based on only 91 reviews.</p><h2 dir="ltr">TSB vs ANNA – a case study</h2><p dir="ltr">We’ve delved into the ins and outs of how a TSB business account works, so now let’s see how an ANNA Pay As You Go plan compares with a TSB Business Plus Account, once your first 30 months are up.</p><p dir="ltr">Imagine you’re a sole trader who has an up-and-coming business that deals with quite a bit of cash and is (coincidentally enough) looking for some Absolutely No Nonsense Admin.</p><p dir="ltr"><strong>Your business might have the following needs:</strong></p><ul dir="ltr"><li><p dir="ltr">3 international (non-Euro) payments of £500 each.</p></li><li><p dir="ltr">2 electronic CHAPS payments.</p></li><li><p dir="ltr">5 cash withdrawals of £400 each from ATMs.</p></li><li><p dir="ltr">8 cash deposits of £1,500 each.</p></li></ul><p dir="ltr"><strong>A TSB Business Plus Account with a balance of under £10,000 would incur the following fees:</strong></p><ul dir="ltr"><li><p dir="ltr">International payments: £45 (£15 per transaction)</p></li><li><p dir="ltr">CHAPS payments: £60 (£30 per transfer)</p></li><li><p dir="ltr">ATM withdrawals: £0 (you can withdraw up to £700 per cardholder, per day)</p></li><li><p dir="ltr">Cash deposits £84 (70p per £100)</p></li><li><p dir="ltr">Standard monthly account fees: £5</p></li><li><p dir="ltr"><strong>Total TSB business account fees: £194</strong></p></li></ul><p dir="ltr"><strong>Meanwhile, an ANNA Big Business plan would involve the following:</strong></p><ul dir="ltr"><li><p dir="ltr">International payments: £0 (4 free SWIFT payments per month)</p></li><li><p dir="ltr">CHAPS payments £0 (unlimited free CHAPS payments)</p></li><li><p dir="ltr">ATM withdrawals: £0 (unlimited free ATM withdrawals)</p></li><li><p dir="ltr">Cash deposits: £0 (pay cash into your account commission-free)</p></li><li><p dir="ltr">Monthly account fees: £49.90 +VAT</p></li><li><p dir="ltr"><strong>Total ANNA Big Business plan fees: £49.90+VAT (which you can claim back if you’re VAT registered).</strong></p></li></ul><h2 dir="ltr">TSB vs ANNA – in summary</h2><p dir="ltr">Based on our case study, we can see that if you’re a business that makes regular cash deposits and local <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-chaps-payment/"><a target="_self" rel="noopener noreferrer nofollow" id="">CHAPS payments</a></a>, or purchases supplies from outside the UK and EU, a TSB business account could prove expensive.&nbsp;</p><p dir="ltr">ANNA’s Big Business Plan takes the headache out of calculating the fees you’ll pay for everyday transactions by charging one simple monthly fee and giving you the flexibility to do your everyday banking without the hidden charges. (And for those who need a more basic account, ANNA’s Pay As You Go Plan has no monthly fee, forever).</p><p dir="ltr">You can <a target="_blank" rel="noopener noreferrer nofollow" href="https://anna.money/business-account/?utm_source=blog&amp;utm_medium=blog&amp;utm_campaign=tsb" id=""><strong>apply for an ANNA business plan online</strong></a>, and don’t have to visit a branch to prove who you are – in fact, everything you do with ANNA can be done in-app – and while TSB’s helpline and mobile banking services aren’t always available, ANNA’s exceptional, award-winning customer service is at your fingertips 24/7, with not a robot in sight.</p><p dir="ltr">While we’re tooting our own horn, we might also mention the handy add-ons that help limited companies deal with their bookkeeping: with <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/"><a target="_self" rel="noopener noreferrer nofollow" id="">+Taxes</a></a>, ANNA can sort out your corporation tax and VAT while you get on with stuff that’s a lot less boring.&nbsp;</p><p dir="ltr">You can also access features such as <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/payroll/"><a target="_self" rel="noopener noreferrer nofollow" id="">payroll</a></a>, credit and bulk payments, while for sole traders, integration with accounting software such as Xero and unlimited pots to help you separate your expenses (which you won’t find at TSB) are super handy.</p>

<h2 dir="ltr" data-pm-slice="1 1 []">Summary table</h2><p dir="ltr">Everything you need to compare the ANNA Big Business Plan and TSB Business Plus Account is right here…</p><p><img src="https://storage.googleapis.com/anna-website-cms-prod/a_G9y_k_Mq_NJ_Qq_Hvle_TS_Bsummarytable_1bc6437906/a_G9y_k_Mq_NJ_Qq_Hvle_TS_Bsummarytable_1bc6437906.avif" alt="aG9y_kMqNJQqHvle_TSBsummarytable.avif" width="null" height="null"></p>

How to open Santander business account online

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Although Santander UK is a British bank, it’s owned by a Spanish company – Santander being a city in Northern Spain. Founded in 2004, Santander (the bank, not the city) currently has 14 million customers and branches spread across the UK, all the way from Elgin to Penzance.

<p>Those looking for a Santander business account have three options to choose from – although currently, the bank is only offering them to existing customers.&nbsp;</p><p>If you’re wondering how to open a Santander business account, we’ve got everything you need to know right here, from a review of the key features that will make your business account tick, to the pros and cons of choosing Santander.&nbsp;</p><p>We’ll even show you how Santander’s business account options compare to ANNA’s plans – and you can’t say fairer than that.</p><h2>What types of business bank accounts are available at Santander?</h2><p>If you’re a sole trader or an SME that has relatively simple banking needs and no more than 2 directors, owners or partners, Santander has a business bank account for you. Clubs, societies and charities can choose a specialised Treasurer’s Current Account, while larger businesses are catered for separately by Santander’s Corporate and Commercial Banking arm.</p><h3>1|2|3 Business Current Account</h3><p>A Santander 1|2|3 Business Current Account offers businesses day-to-day banking services, 0.10% gross/AER monthly interest on credit balances, and up to £300 cashback a year. An account comes with a standard £12.50 a month fee (compared to ANNA’s £0 Pay As You Go plan), but a discounted fee is available for a limited time if you’re a start-up business in your first year of trading, or switching from another business current account to a 1|2|3 Santander Business Current Account.&nbsp;</p><h3>Business Current Account</h3><p>The Santander Business Current Account is designed for start-ups, established businesses and those who already hold a Santander Business Current Account. Fees are £7.50 a month, discounted to £0 for the first 18 months if you’re a start-up in your first year of trading. Holders of this kind of account can access their account online, via the Mobile Banking app, at ATMs and in Post Offices.</p><h3>Treasurer’s Current Account</h3><p>This type of Santander business account offers day-to-day banking services for clubs, societies and charities. As long as your turnover is under £250,000, this type of account is free, and includes online and in-app banking options.</p><h2>Santander business account review: Key Features</h2><p>If you’re the tl;dr type, you’ll want to see the key features of both types of Santander business bank account laid out in one handy summary – so here’s the overview you’re looking for.&nbsp;</p><h3>Cashback</h3><p>With a 1|2|3 Business Current Account you can earn 1%, 2% or 3% cashback, depending on your annual credit turnover, up to £300. You can also earn 0.10% gross/AER monthly interest on any credit balances.</p><h3>Easy access</h3><p>Santander business account holders of all kinds can access online and mobile banking, and banking at cash machines and Post Offices, while 1|2|3 account holders can also visit the counters at over 8,000 Santander branches across the UK.&nbsp;</p><h3>Overdraft facilities</h3><p>When you apply for a Santander 1|2|3 Business Current Account or Santander Business Current Account, you can also apply for a business overdraft of up to £25,000.&nbsp;</p><h3>Cash withdrawals</h3><p>On those days when only cash will do, you can withdraw up to £500 from your account. If you want to withdraw more, there’s a sliding scale of fees involved – while with ANNA, you can access up to £1,000 in cash from your account via ATMs.&nbsp;</p><h2>Santander Business Current Account pros &amp; cons</h2><h3>Pros</h3><ul><li>The 1|2|3 Business Current Account allows you to earn cashback, as well as interest on your balance.</li><li>There’s an 18-month offer for start-ups available on both types of business current account, and one for those switching from another provider’s business current account when you choose a 1|2|3 account.</li><li>You can access your account several different ways: online, at Santander cash machines and Post Office branches. 1|2|3 account holders can also visit their local Santander branch.</li><li>Online and Mobile Banking offers text and email alerts to help you keep track of your finances.</li><li>Your money is FSCS protected, so your money’s not at risk, up to £85,000.</li></ul><h3>Cons</h3><ul><li>Currently, Santander is only offering business accounts to its existing customers.</li><li>The Santander Business Current Account doesn’t include cashback or interest on your credit balance.</li><li>The daily cash withdrawal limit of £500 is relatively low if your business uses cash to operate.</li><li>While the Santander Treasurer’s Current Account is free, the standard monthly fee for a 1|2|3 Business Current Account is £12.50. It’s £7.50 for a Santander Business Current Account.</li><li>You can’t access your Santander Business Current Account at Santander branches.</li><li>If you’re a private limited company, you can have no more than 2 directors, owners or partners to open a Santander business account.</li><li>Unless you’re under the Business Current Account start-up offer, you can only deposit up to £1,000 a month before you start paying a 70p fee per £100 deposited.</li><li>If you want to speak to a real person, customer service isn’t 24/7.</li><li>Fees aren’t particularly transparent – if you want to find out how much each type of transaction will cost you, you’ll have to do some digging (or use this handy guide…).</li></ul><h2>What are the requirements to open a Santander Business Account?&nbsp;</h2><p>To apply for a Santander business account, you need to fulfil the bank’s eligibility criteria.</p><p><strong>To open a Santander Business Current Account or 1|2|3 Business Current Account:</strong></p><ul><li>All directors, owners (shareholders) or partners must be aged 18 or over and resident in the UK. Your business must also be registered in the UK.</li><li>You need to be an existing Santander customer.</li><li>You may only have up to 2 directors, owners or partners in your business.</li><li>You must intend to use your account for business purposes only.</li><li>You should be either a sole trader, or your business should be a partnership, limited liability partnership or a private limited company.</li></ul><p><strong>To open a Treasurer’s Current Account:</strong></p><ul><li>Your organisation must be a club, a society, a charity or another not-for-profit organisation that operates in the UK.</li><li>You must be an existing Santander customer.</li><li>Your organisation must have an annual turnover of no more than £250,000.</li><li>All directors, owners or partners must be aged 18 or over reside in the UK.</li><li>You must intend to use this account for business purposes only.</li></ul><h2>What documents do I need to provide to open a Santander Business Account?</h2><p>To open any type of Santander business account, you have to provide proof of identity and proof of UK address for everyone associated with your business. Proof of identity could include a passport or in-date UK photocard driving licence, while accepted proof of address includes your driving licence, utility bill or council tax bill.&nbsp;</p><p><strong>You’ll also need:</strong></p><ul><li>Your business name, when your business started, and proof of your current trading address.</li><li>3 years proof of your trading address history, where applicable.</li><li>A detailed description of what your business does.</li><li>Details of the income from your business, as well as any other income sources you may have, plus annual accounts if you’re an established business.</li><li>Your anticipated annual turnover for the next 12 months.</li><li>How many employees your business has.</li><li>Your VAT number, if you have one.</li></ul><p>If you’re switching from another bank, you’ll also be asked to supply your last business banking statement.&nbsp;</p><h2>How much does a Santander Business Account cost?</h2><p>The cost of a Santander business bank account depends on a few factors, including whether you’re a start-up or switching to a Santander business account from another bank, and which type of account you choose.&nbsp;</p><p>Here’s a round-up of the principal fees you need to know about before you take the plunge.&nbsp;</p><h3>Santander monthly account fees</h3><p>If you choose the 1|2|3 Santander business account and you’re a start-up business in your first year of trading, you’ll pay £5 a month for 18 months before the standard £12.50-a-month fee kicks in.&nbsp;</p><p>Those switching from other business current accounts to a 1|2|3 Santander Business Current Account using the Current Account Switch Service can get the discount for 12 months.&nbsp;</p><p>If you go for a Business Current Account, you’ll pay nothing for 18 months if you’re a start-up, otherwise the standard monthly fee is £7.50. Meanwhile, Santander Treasurer’s Current Account is free – rather like ANNA’s handy £0 a month Pay As You Go plan, the <a target="_blank" rel="noopener noreferrer" href="https://anna.money/business-account/">business account with no monthly fees</a>…</p><h3>Santander international payment fees</h3><p>Making an international payment electronically from your Santander business account will cost £25 per transaction (this service is free with an ANNA Pay As You Go plan, with a 1% currency conversion fee). Paying in Euros via electronic euros transfer / SEPA takes longer, but is free.</p><h3>Santander local transfers in and out</h3><p>Electronic CHAPS payments incur a £25 fee, while other electronic payments, including Faster Payments and SEPA, are free. <a target="_blank" rel="noopener noreferrer" href="https://anna.money/blog/guides/what-is-a-chaps-payment/">CHAPS</a> must be used for any payment over £100,000.</p><h3>Santander pay cash in deposit</h3><p>With a 1|2|3 account, there’s no charge for cash deposits at Santander ATMs, and no limit on the amount you can deposit. Depositing cash at Santander counters and at the Post Office is free for deposits of up to £1,000 per month, then costs 70p per £100 you pay in over the £1,000 limit.</p><p>With a Business Current Account, there’s no charge for cash deposits at Santander ATMs and at Post Offices of up to £1,000 per month, then it costs 70p per £100. If you’re taking advantage of the Business Current Account start-up offer, you can enjoy no charge and unlimited ATM deposits for 18 months.</p><h3>Santander ATM withdrawals</h3><p>You can withdraw up to £500 cash a day, for free.</p><h3>Can you pay a cheque in an online Santander business?</h3><p>You can pay in cheques in sterling from UK banks that are under £5,000 using the Santander Business Mobile Banking App. You can also use Santander cash machines or, if you hold a 1|2|3 Santander business account, you can pay-in cheques over the counter in branches. Foreign currency cheques are subject to a £10 charge.</p><p><img src="https://storage.googleapis.com/anna-website-cms-prod/a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e/a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e.png" alt="aGQZQHfc4bHWi7du_SantandervsANNAfees.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e/thumbnail_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e.png 213w,https://storage.googleapis.com/anna-website-cms-prod/small_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e/small_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e.png 500w,https://storage.googleapis.com/anna-website-cms-prod/medium_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e/medium_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e.png 750w,https://storage.googleapis.com/anna-website-cms-prod/large_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e/large_a_GQZQ_Hfc4b_H_Wi7du_Santandervs_ANN_Afees_d47c62988e.png 1000w," sizes="100vw" width="1845" height="1354"></p><h2>How to apply for a Santander Business Account</h2><p>Currently, the only way to apply for a Santander business account is to call the Business Banking Direct service on 0330 678 2509.</p><h2>Santander Business Account customer reviews</h2><p>In February 2025, an independent survey of 1,200 Santander business current account customers was conducted. It revealed that 60% of Santander Business Account customers would recommend Santander to other SMEs, while 66% would recommend its online and mobile banking services.</p><p>Overall, Santander has a ‘bad’ 1.4 rating on TrustPilot, with negative reviews highlighting issues such as difficulties using various account services and accessing effective customer care (ANNA scores a ‘great’ 4.2 and offers customers award-winning, 24/7 human-led customer support. Just saying…).</p><h2>Santander vs ANNA – a case study</h2><p>Now we’ve seen how a Santander business account works – plus some of the perks you’d enjoy with ANNA – let’s see how an ANNA Big Business plan compares with a Santander Business Current Account.&nbsp;</p><p><strong>In this scenario, we’re imagining you’re a successful SME that on an average month has to make the following payments:</strong></p><ul><li>4 international payments of £700 each.</li><li>3 UK transfers of £10,000.</li><li>15 cash withdrawals of under £500 each from ATMs.</li><li>5 cash deposits of £1,000 each.</li></ul><p><strong>A Santander Business Current Account would incur the following fees:</strong></p><ul><li>International payments: £100 (£25 per transaction)</li><li>UK transfers: £0 (free if you use Faster Payments)</li><li>ATM withdrawals: £0 (you can withdraw up to £500 a day)</li><li>Cash deposits at the Post Office of Santander ATMs: £28 (£1,000 a month free, then 70p per £100 deposited).</li><li>Standard monthly account fees: £7.50</li><li><strong>Total Santander business account fees: £135.50</strong></li></ul><p><strong>Meanwhile, an ANNA Big Business plan would involve the following:</strong></p><ul><li>International payments: £0 (unlimited free CHAPS payments)</li><li>UK transfers: £0 (unlimited free CHAPS payments)</li><li>ATM withdrawals: £0 (unlimited free ATM withdrawals)</li><li>Cash deposits: £0 (pay cash into your account commission-free)</li><li>Monthly account fees: £49.90 +VAT</li><li><strong>Total ANNA Big Business plan fees: £49.90+VAT (which you can claim back if you’re VAT registered).</strong></li></ul><h2>Santander vs ANNA – in summary</h2><p>Overall, businesses that make regular international payments and need to make cash deposits of over £1,000 a month would be better off choosing an ANNA Big Business plan over a Santander Business Current Account.</p><p>Businesses interested in an ANNA plan can apply online rather than on the phone, for a smooth and speedy application process, and while Santander’s customer helpline is open at limited times during the week (and closed on Sundays) ANNA’s award-winning customer service, which is based in Cardiff and connects you to actual humans, is at your fingertips 24/7.&nbsp;</p><p>ANNA also includes add-ons that take the stress out of dealing with taxes if you’re a limited company: with <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/">+Taxes</a>, ANNA can sort out your corporation tax and VAT while you focus on building your business.&nbsp;</p><p>It also offers really useful features such as <a target="_blank" rel="noopener noreferrer" href="https://anna.money/plus-taxes/payroll/">payroll</a>, credit and bulk payments, integration with accounting software such as Xero, and unlimited pots to help you separate your expenses. So (while we don’t like to brag) what ANNA has to offer your business is pretty hard to beat.</p>

<h2>Summary table</h2><p>Want to see everything at a glance? We’ve got it all laid out for you right here.</p><p><img src="https://storage.googleapis.com/anna-website-cms-prod/a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e/a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e.png" alt="aGQY23fc4bHWi7dr_Santandersummarytable.png" srcset="https://storage.googleapis.com/anna-website-cms-prod/thumbnail_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e/thumbnail_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e.png 105w,https://storage.googleapis.com/anna-website-cms-prod/small_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e/small_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e.png 337w,https://storage.googleapis.com/anna-website-cms-prod/medium_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e/medium_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e.png 505w,https://storage.googleapis.com/anna-website-cms-prod/large_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e/large_a_GQY_23fc4b_H_Wi7dr_Santandersummarytable_279506554e.png 674w," sizes="100vw" width="1845" height="2738"></p>

<p><em><strong>Sources:</em></strong></p><p><em><a href="https://www.santander.co.uk/assets/s3fs-public/AD_documents/Business_Banking_General_Terms_and_Conditions_and%20_Important_Information_ANB90361APR25IPGCDT.pdf" target="_blank"><strong>Santander Business banking T&Cs</em></a></strong>
<em><a href="https://uk.trustpilot.com/review/santanderbank.com" target="_blank"><strong>TrustPilot</em></a></strong>
<em><a href="https://www.santander.co.uk/business/current-accounts/123-business-current-account" target="_blank"><strong>Santander 1|2|3 Business Current Account</em></a></strong>
<em><a href="https://www.santander.co.uk/business/current-accounts/business-current-account" target="_blank"><strong>Santander Business Current Account</em></a></strong>
<em><a href="https://www.santander.co.uk/business/current-accounts/treasurers-current-account" target="_blank"><strong>Santander Treasurer’s Current Account</em></a></strong></p>

How to open Starling Business Account online

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Starling is a relative newcomer on the banking scene, having been established in 2014 as Britain’s first digital bank. Like its feathery namesake, Starling is smaller than the established, traditional UK banks (the eagles of banking, if you will), but its digital-only model is currently used by over 450,000 businesses.

<p>If you’re wondering how to open a Starling Bank Business Account, we’ve got all the information you need right here, from what to expect when it comes to Starling Business Account fees, to a review of what features are included with your account. We’ll even give you an example of how a Starling Business Account might work for you and your business.</p><h2>What types of business bank accounts are available at Starling?</h2><p>Starling offers three different types of business bank accounts for you to choose from, depending on which one is best for your business.</p><h3>Business Account</h3><p>A Starling Business Account is free to open, including for limited companies, and has no monthly fees or UK payment charges attached to it. A Current Account Switch Service can take care of the legwork of moving your banking for you, and you’ll receive a Mastercard debit card to use with your account. There’s also 24/7 support on offer.</p><h3>Sole Trader Account</h3><p>The Starling Sole Trader Business Account is free and simple to open, and connects to your accounting software via the Starling app (handy for when Making Tax Digital comes into effect from April 2026). A Sole Trader Toolkit is available to help you perfect the balancing act that comes hand-in-had with sole trading, and all-human support is on tap 24/7.</p><h3>Multi-Currency Account</h3><p>If your business has gone global, you’ll need a Starling Multi-Currency Account. You can manage multiple currencies via the app in exchange for a 0.4% conversion fee. There’s also a Business Euro bank account for those dealing only in Euros, and a US dollar account for those only dealing in dollars, costing £2 and £5 a month respectively.</p>

<h2>Starling Bank Business Account review: key features</h2><p>While they’re not <em>quite</em> as unique as snowflakes, business banking accounts each have their own USPs that make them stand out from the rest – and Starling is no different. So let’s review what’s on offer. </p><h3>Customised add-ons</h3><p>Once you’ve signed up for your Starling Bank Business Account, you can customise it with add-ons such as the Business Toolkit, a Euro Business Account, or a US Dollar Business Account. </p><h3>No monthly payments </h3><p>If you choose a standard, no-frills Starling Business Account, you’ll pay £0 a month. UK bank transfers, ATM withdrawals and cheque deposits are also free.</p><h3>Streamlined accounting</h3><p>With tools such as spending analytics, digital receipts and a bills manager available in-app, keeping track of your accounts is made that bit easier. A Starling Business Account also integrates with other business services and software including Xero, QuickBooks and FreeAgent, so you can keep on top of your accounting in-app.</p><p><strong>❗</strong>With ANNA you won't need an accounting software at all, everything is categorised and calculated based on your transactions, invoices and receipts. No need to learn complicated accounting software, ANNA will get your <a href="https://anna.money/plus-taxes/" target="_blank">taxes sorted automatically</a>.</p><h3>24/7 UK support</h3><p>You can connect with support via phone, email or the app, which makes troubleshooting a cinch.</p><h2>Starling Business Account pros & cons</h2><p>Still thinking about whether Starling is right for you? Sometimes, it helps to have everything laid out in black and white to help you make a decision – so here are the key pros and cons you need to consider.</p><h3>Pros</h3><ul><li>Starling’s Business Toolkit allows you to manage bookkeeping tasks like bills, invoices and tax from your bank account. </li><li>A Starling Business Account is fully regulated, so your money is <a href="https://anna.money/blog/guides/what-is-fscs-protection/" target="_blank">FSCS</a> protected up to £85,000.</li><li>Free support is available 24/7 via app, phone or email – and real humans are always on hand to help. </li><li>The Current Account Switch Service makes it easy to move to a Starling Business Account. </li><li>There are no monthly fees or UK payment charges, including for limited companies, sole traders, and companies with multiple PSCs / directors. Bank transfers are also free in the UK.</li><li>82% of Starling Bank Business Account holders would recommend Starling to other SMEs.</li><li>A Starling Business Account can be integrated with Xero, QuickBooks and FreeAgent, while Starling’s ‘Spaces’ function allows you to separate expenditures such as tax and overheads. </li></ul><h3>Cons</h3><ul><li>The Starling Business Toolkit is handy, but it costs £7 a month.</li><li>Starling is online-only, so you can’t pop into a branch.</li><li>Euro and Dollar Starling Bank Business Accounts are not always available – sometimes you need to wait to apply – and they come with a monthly fee.</li><li>Depositing cash at the Post Office comes with a 0.7% fee.</li><li>International SWIFT transactions come with a 0.4% transfer fee and £5.50 delivery fee.</li><li>Access isn’t available to third parties such as accountants, or to non-directors, such as finance teams and assistants.</li><li>The application process can feel a bit complicated, and includes uploading a video of yourself to the app.</li></ul>

<h2>What are the requirements to open a Starling Business Account? </h2><p>If you’re busy wondering, "What do I need to open a Starling Business Account?" there are some eligibility criteria to bear in mind. </p><ul><li>You must be a Limited Company or LLP registered at <a href="https://anna.money/blog/guides/what-is-companies-house/" target="_blank">Companies House</a>, or a <a href="https://anna.money/blog/guides/register-as-a-sole-trader/" target="_blank">sole trader</a>.</li><li>All <a href="https://anna.money/blog/guides/person-with-significant-control-psc/" target="_blank">Persons of Significant Control</a> (PSCs) must be UK residents and natural persons (corporate shareholders are not eligible).</li><li>Each <a href="https://anna.money/blog/guides/company-director-uk/" target="_blank">director</a> with access to the account must be a UK resident.</li><li>The business must not be a holding company, dissolved, in liquidation or engage in certain activities (these are set out in Starling’s T&Cs).</li><li>You need to provide evidence of your trading activities, and undergo standard AML/KYC, fraud and credit checks and processes.</li></ul><h2>What documents do I need to provide to open a Starling Business Account?</h2><p>To open a Starling Bank Business Account, you’ll need a valid photo ID (think: driver’s licence or passport), and documents that confirm the nature of your business. These could include: </p><ul><li>Proof of membership to an industry body.</li><li>Business registrations or licences.</li><li>A lease agreement.</li><li>Bank statements that show your business activity.</li></ul>

<h2>How much does a Starling Business Account cost?</h2><p>When you’re running a business, the last thing you want is to be stung by hidden fees, so we’ve done the legwork for you when it comes to Starling Business Account fees (you can thank us later).</p><h3>Starling monthly account fees</h3><p>Starling trumpets its £0 per month fees, and no UK payment charges, although there are some charges attached to various transactions and types of accounts. </p><h3>Starling international payment fees</h3><p>There are two ways of transferring money abroad (to 34 countries) from your Starling Business Account. </p><ul><li>Paying via SWIFT requires you to include a reference, and a proof of payment is available. Using this method, you’ll pay a 0.4% transfer fee and a £5.50 delivery fee. The maximum you can send is £10,000, which will cost you £45.50.</li><li>Paying via low-cost payment is less secure, and not recommended when paying a bill. You can’t add a reference or recall your money if you make a mistake. Low-cost payments require a 0.4% transfer fee and 30p delivery fee. Sending £10,000 this way would cost you £40.30.</li></ul><h3>Starling local transfers in and out</h3><p>There are no fees when you make a UK transfer from your Starling Business Account. You can use the app or online banking to make a payment of up to £250,000.  </p><h3>Starling pay cash in deposit</h3><p>Holders of a Starling Business Account or Starling Sole Trader Account can deposit money at the Post Office. Each deposit is subject to a 0.7% charge, at a minimum of £3. </p><h3>Starling ATM withdrawals</h3><p>With a Starling Bank Business Account, ATM withdrawals are as free as… Well, a bird. You can withdraw up to £300 and make up to six withdrawals a day, in any currency. </p><h3>Can you pay a cheque in an online Starling business?</h3><p>Starling offers the opportunity to pay cheques via the app, as long as they’re under £1,000: simply take a photo and upload it. Holders of a Starling Sole Trader Account can upload up to £2,000 of cheques a day, while Starling Business Account holders can upload up to £5,000.</p><p>You can also send cheques via Freepost, if they’re over £1,000 – or if you simply prefer to use good old-fashioned post. </p><h3>Starling vs ANNA  Fees</h3><p>We’ve summarised the cheapest fees for ANNA and Starling in the table below.</p><img src="https://storage.googleapis.com/anna-website-cms-prod/aGKDLHfc4bHWi2kP_StarlingvsANNAfees/aGKDLHfc4bHWi2kP_StarlingvsANNAfees.png" alt="None" />

<h2>How to apply for a Starling Business Account</h2><p>Head to Starling’s website, click ‘apply now’ and fill in a few simple details, and a QR code will take you to the app store to download the app. Once you’re in, you can choose which kind of account you’d like to open and start filling in your details. </p><p>You’ll be asked for information including your phone number, name and address, a photo of your ID and a video of yourself to help keep your account secure. </p><h2>Starling Business Account customer reviews</h2><p>According to an independent survey of 1,200 Starling customers conducted in February 2025, 82% of Starling Business Account customers would recommend Starling to other SMEs.</p><p>Overall, Starling enjoys a 4.2 rating on TrustPilot, based on over 44,000 reviews. Happy customers praise the ease of use and customer service, while the 1 and 2-star reviews mention the complicated application process and issues with some services, such as international payments.</p><h2>Starling vs ANNA – a case study</h2><p>You’ve seen how a Starling Business Account works in principle, so now let’s put it to the test and see how it compares to an <a href="https://anna.money/business-account/" target="_blank">ANNA business account</a> with a case study.</p><p>Let’s say you run a business that’s going well, and requires you to make several domestic and international transactions a month (well done, you). On this particular month, you’ve processed the following:</p><ul><li>4 international payments of £4,200 via SWIFT.</li><li>1 UK transfer of £50,000.</li><li>15 cash withdrawals of under £300 each from ATMs.</li><li>5 cash deposits of £1,500 each.</li></ul><p><strong> 🔸 A Starling business bank account would incur the following fees:</p><ul><li>SWIFT payments: £89.20 (0.4% transfer fee plus £5.50 delivery fee per transaction)</li><li>UK transfer: £0 (free up to £250,000 per transaction)</li><li>ATM withdrawals: £0 (up to six withdrawals of up to £300 a day are free)</li><li>Cash deposits at the Post Office: £52.50 (0.7% per deposit, at a minimum of £3)</li><li>Monthly account fees: £0</li><li><strong>Total Starling business account fees: £141.70</strong></li></ul><p><strong> 🔸 Meanwhile, an ANNA Big Business plan would involve the following:</p><ul><li>SWIFT payments: £0 (4 free SWIFT payments per month)</li><li>UK transfer: £0 (unlimited free local bank transfers)</li><li>ATM withdrawals: £0 (unlimited free ATM withdrawals)</li><li>Cash deposits: £0 (pay cash into your account commission-free)</li><li>Monthly account fees: £49.90 +VAT</li><li><strong>Total ANNA Big Business plan fees: £49.90+VAT (which you can claim back if you’re VAT registered).</strong></li></ul><p>Overall, businesses that use regular SWIFT payments and need to make cash deposits can benefit hugely from the perks of an ANNA Big Business plan. </p>

<p>With ANNA, you can open joint business accounts for companies with multiple directors, but you can also offer access to third parties and non-director employees (unlike Starling). This flexibility means others can use the app the same way you do, and enjoy the benefits of additional expense cards, with spending limits set by you.</p><p>With the <a href="https://anna.money/plus-taxes/" target="_blank">+Taxes</a>, ANNA can take on those arduous tasks limited companies dread tackling, including sorting your corporation tax and VAT. And while Starling has no payroll, credit or bulk payments, these are all available at ANNA – so there’s nothing not to like.</p><p>The app even miaows when you make a payment. Although you wouldn’t let that sway you, would you…?</p>

<h2>Summary table</h2><img src="https://storage.googleapis.com/anna-website-cms-prod/aGKDPHfc4bHWi2km_Starlingsummarytable/aGKDPHfc4bHWi2km_Starlingsummarytable.png" alt="None" /><p><em><strong>Sources:</em></strong></p><ul><li><em><a href="https://www.starlingbank.com/business-account/" target="_blank">Starling Business Account</em></a></li><li><em><a href="https://uk.trustpilot.com/review/starlingbank.com" target="_blank">TrustPilot</em></a></li><li><em><a href="https://www.starlingbank.com/open-bank-account-online/" target="_blank">Starling open a bank account online</em></a></li><li><em><a href="https://www.starlingbank.com/send-money-abroad/" target="_blank">Starling send money abroad</em></a></li></ul>

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