Barclays vs NatWest business account – which one should you choose?

But the details – and the long-term value – differ more than you might expect. This guide compares Barclays’ 12-month free Start-Up Business Account with NatWest’s 24-month free Start-Up Account, looking at features, eligibility, and support.

And because we’re ANNA, we’ll also show you how our business account stacks up – especially if you’d prefer your finances and taxes handled in one place, with real human support 24/7.

Barclays vs NatWest at a glance

If you want the short version, here it is: NatWest offers the longest free banking period (two full years), while Barclays gives you a shorter but still generous 12-month offer with access to one of the UK’s biggest business banking networks.

Takeaway: NatWest wins for the longest free period, while Barclays stands out for its powerful integrations and physical branch access.

Who are these accounts best for?

⚡ The cheapest

Both Barclays and NatWest offer genuine free business banking for start-ups – a rarity among traditional high-street providers.

NatWest gives you 24 months without monthly fees, plus unlimited electronic payments and transfers. After that, the account moves to a standard Business Current Account with variable pricing based on transaction volume.

Barclays offers 12 months of free banking, then applies a small monthly fee (starting from £8) depending on turnover. It’s slightly shorter, but still ideal for small companies looking to control early costs.

Verdict: NatWest is the cheapest option thanks to its two-year free period.

⚡ Best value for money

When the free period ends, value comes down to features and ongoing costs. NatWest’s partnership with FreeAgent (free for business customers) is a big plus for bookkeeping and tax prep – something freelancers and limited companies will appreciate.

Barclays counters with solid accounting integrations (QuickBooks, Xero) and access to a wide branch network for cash deposits – which is useful if your business handles physical money.

Verdict: NatWest offers more digital value, while Barclays suits cash-handling businesses that still need in-person banking.

⚡ Best for sole traders

Both accounts are open to sole traders as well as limited companies, but the experiences differ slightly.

NatWest’s app is intuitive and pairs perfectly with FreeAgent for self-employed users who need to track expenses, income and tax in one dashboard. You can set up the account entirely online and start trading within minutes.

Barclays’ app is polished and professional, with excellent budgeting tools and instant spending alerts. The only catch is that its integrations lean more towards companies using full-scale accounting software like Xero.

Verdict: NatWest edges ahead for sole traders thanks to FreeAgent integration and longer free banking.

⚡ Best for limited companies

If you’re running a limited company with a few directors, both accounts will work well. Barclays has a slight advantage in control features – multiple users, permission settings, and real-time notifications help track transactions across departments.

NatWest’s offer remains competitive, but some business customers find its user permissions less granular. However, it does make life easier with built-in invoicing tools through FreeAgent, saving on external subscriptions.

Verdict: Barclays gives better management options for growing limited companies, while NatWest keeps things simpler for small teams.

⚡ Best for established businesses

When your start-up period ends, both providers offer upgrades:

• Barclays Business Account: Ongoing support with relationship managers, overdrafts, loans and merchant services.
• NatWest Business Current Account: Includes discounted accounting tools, a digital business hub, and continued access to FreeAgent.

Verdict: Both scale up nicely, but Barclays’ network and lending options make it more suited to expansion-stage firms.

Who can open an account?

Verdict: Both have straightforward eligibility. NatWest’s higher turnover limit gives slightly more breathing room for fast-growing start-ups.

Pricing and fees

Barclays pricing

• Free for 12 months – no monthly fee, most everyday transactions included.
• After that, monthly fee from £8/month depending on turnover.
• Pay-as-you-go charges for cash deposits, international transfers, and CHAPS.

NatWest pricing

• Free for 24 months – no monthly or electronic payment fees.
• After that, standard £6.50/month plus small transaction fees for cash deposits and payments.
• FreeAgent accounting software included.

Verdict: NatWest offers the best free period and bundled software; Barclays adds value through flexibility and integrations.

Features comparison

Payments and transfers

Both support Faster Payments, Direct Debits, and standing orders. Barclays also supports CHAPS and Bacs for larger companies.

Cash and cheque handling

Both allow deposits at the Post Office or branch counters. Barclays’ extensive branch network makes it more convenient for cash-heavy trades.

Cards and spend management

Each provides a business debit card and spending alerts. Barclays’ app supports expense categorisation; NatWest focuses on simplified FreeAgent syncing.

Invoicing and integrations

NatWest wins here – FreeAgent integration means invoicing and reconciliation are automatic. Barclays supports invoicing through connected apps.

Lending and overdrafts

Both provide overdrafts and business loans subject to credit checks, with similar interest rates. Barclays offers a wider range of financing options through its lending network.

App and user experience

App interface

Barclays’ app feels corporate and professional, with easy-to-find features and strong security.

Source: App store

NatWest’s app feels fresher and slightly simpler, mirroring consumer-grade usability.

Source: App store

You can explore both apps yourself:

• Barclays on the App Store / Google Play,
• NatWest on the App Store / Google Play.

Web access and exports

Both allow web access, but Barclays provides more advanced dashboard features for accountants and finance managers.

Onboarding and switching

Both support online application and the Current Account Switch Service (CASS) for smooth transfers.

Customer support and reviews

Verdict: Barclays has the edge with its extensive branch coverage and 24/7 helpline, while NatWest’s in-app support is friendly but not fully round-the-clock.

Verdict: Barclays’ app gets slightly higher marks for stability, while NatWest is praised for its cleaner design and easy navigation.

Verdict: Both receive mixed reviews, mostly related to customer service delays rather than app quality.

Trustpilot complaints

• Barclays: Customers often mention long hold times and complex ID checks, though reviews highlight helpful in-branch staff.
• NatWest: Users report occasional account freezes and slower business onboarding, but appreciate the simplicity of digital support.

Verdict: Typical for large traditional banks – strong infrastructure, but slower to respond than digital-first providers.

Security and trust

FSCS protection

Funds up to £85,000 are protected per account holder under the Financial Services Compensation Scheme (FSCS).

Verdict: Both meet the highest UK protection standards.

Fraud prevention and controls

Each offers multi-factor authentication, biometric logins, instant payment alerts, and in-app card freezing. Barclays additionally supports spending limits for team members, adding an extra layer of control.

Verdict: Barclays has slightly more granular spending controls, but both provide strong protection against fraud.

Bank stability and licensing

Both are fully licensed and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Barclays, founded in 1690, is one of the UK’s oldest and most stable financial institutions; NatWest operates under the NatWest Group with comparable financial strength.

Verdict: Two of the most established UK institutions – both extremely secure and well-capitalised.

Which is best for your business?

• Freelancers and sole traders: NatWest – longer free period and FreeAgent software.
• Cash-handling trades: Barclays – better physical branch coverage.
• Growing limited companies: Barclays – more control and integrations.
• Digital-first start-ups: NatWest – strong app and bookkeeping included.

Alternatives to consider

ANNA – your business account and admin sidekick

ANNA isn’t just a business account – it’s your all-in-one admin companion. You get smart tools that automate the boring bits, from invoicing to tax filing, with human support whenever you need it.

• Create and send invoices in seconds
• Capture receipts and auto-categorise your expenses
• Get VAT and Corporation Tax filed automatically
• Add team members – not just co-directors
• 4 free SWIFT payments a month on the Big Business plan
• Real humans, 24/7 support on every plan

Plans start from £0/month. See current ANNA plans.

Revolut Business

Ideal for international freelancers and companies managing multiple currencies. Great FX rates, modern app, but no FSCS protection.
How to open Revolut business account →

Wise Business

Perfect for holding and sending international payments. Excellent exchange rates, multi-currency accounts, and seamless transfers.

Tide

Quick to open, simple interface, and good for early-stage businesses. Not a bank, but covers most basic needs affordably.
How to open Tide business account →

Mettle by NatWest

Free and easy to use, backed by NatWest. Great for side hustles or testing business ideas, but limited tools compared to ANNA or Barclays.
How to open Mettle business account →

Verdict: Barclays vs NatWest

If you’re just starting out, NatWest’s 24-month free period is hard to ignore. But if your business deals with cash or plans to grow quickly, Barclays’ robust infrastructure and integrations might serve you better.

And if you’d rather skip the corporate red tape entirely – ANNA gives you a business account that manages taxes, expenses, and invoicing in one smart app, with real humans on call whenever you need them.

Disclaimer: All info accurate as of October 2025. Always check official websites for the latest details.