Comparing the Best Business Bank Accounts for Startups

What is a startup business bank account?

A startup business bank account is a current account designed specifically for new businesses. Typically those trading for less than 12-24 months, or those that have recently registered as a limited company or started trading as a sole trader.

Unlike a personal account (which you really shouldn't be using for business purposes – more on that later), a startup business account is built around the needs of a new business. It’s used to separate your personal and business finances, receive payments from customers, pay suppliers, and keep HMRC happy.

Most providers offer a free or discounted period for startups, recognising that cash is tight in those first few months. Some go further and include built-in tools for invoicing, VAT filing, expense tracking and tax management – all in one place.

How to choose a business account as a startup

What startups should look for in a business current account

Not every startup needs the same kind of business account. A freelance designer has very different requirements to a café owner or an e-commerce brand. But there are a few things almost every startup should weigh up before opening an account.

Cost – Free doesn't always mean free. A £0/month account that charges 20p per transfer and £1 per cash deposit can end up costing more than a £9/month account with unlimited free transfers. Add up what you'll actually use.

Features – Basic banking is table stakes. The accounts that genuinely save you time go further: invoicing, receipt capture, VAT filing, tax pots, and accounting software integrations. If you're paying for Xero or FreshBooks on top of your account, factor that in.

Support – When something goes wrong – a payment bounces, your card is declined, a customer disputes a charge – you want a real person available. Some providers offer 24/7 human support; others leave you with a chatbot and a 48-hour wait.

Cash handling – Digital-only accounts are fine for most startups, but if your business takes physical cash, you'll need an account that lets you make deposits via a branch or Post Office network.

Growing room – You're a startup now. In 2 years, you might have a small team, an accountant, and a payroll to run. Remember to choose an account or provider that can grow with you.

How to choose the right startup account

Think about your business type first:

• Sole trader or freelancer? You likely want something free, simple, and with good MTD (Making Tax Digital – the government's move to digital tax filing) support.
• New limited company? Look for a provider that supports company formation, VAT filing, and Corporation Tax alongside banking.
• Cash-heavy business? Prioritise Post Office or branch deposit access.
• International from day one? Wise or Revolut's multi-currency capabilities will matter more than MTD tools.

Useful startup business account features

Here's what to look out for as you compare:

Invoicing – Create and send professional invoices from within the app. The best tools auto-match incoming payments to invoices so you don't have to.

Receipt capture – Photographing receipts in the app and attaching them to the right transaction keeps your books in order as your business grows (and especially helps at tax time).

Tax pots / savings pots – Ringfence a percentage of income automatically for VAT, Corporation Tax, or Self Assessment. Stops you accidentally spending your tax bill.

MTD-ready tools – Making Tax Digital requires businesses above the VAT threshold to file digitally. From April 2026, self-employed people and landlords with income over £50,000 are also required to keep digital records and file quarterly updates. Your account should support this.

Accounting integrations – If you use Xero, QuickBooks, FreeAgent, or Sage, check if the account integrates properly so that your transactions sync automatically.

Expense cards – Useful once you have employees or contractors who need to spend on behalf of the business.

Overdraft facility – Not all startup accounts offer one, and it's rarely available immediately. But it's worth knowing whether it's on the table if you need it.

What is the best startup business bank account?

The honest answer: it depends on your business. But if you want a starting point – an account that combines genuinely free banking, built-in tax tools, invoicing, receipt capture, VAT filing, and 24/7 support – ANNA's startup business account is hard to beat for most new businesses.

For international businesses, Wise stands out. For businesses that need branch access and a recognisable high street name, HSBC's Small Business Banking Account is the strongest free option among the traditional banks.

Below you'll find our full breakdown of every major provider.

ANNA offers business account and tax filing together in one app. Open an account in under 10 minutes. No branch visit. No credit check.

Compare startup business bank accounts

✨ Best app-only business accounts

ANNA Money business account

ANNA (Absolutely No Nonsense Admin) is a business account and tax app built specifically for sole traders, freelancers, startups, and small limited companies. It's one of the few providers in the UK that combines business account, invoicing, receipt capture, VAT filing, Corporation Tax, and Self Assessment in a single app – without requiring separate accounting software.

Key features

• Business account open in under 10 minutes, no credit check
• ANNA card (Mastercard) delivered in 2-3 working days
• Smart invoicing with payment links and auto-matching
• Receipt capture via photo or PDF
• Tax Pot – automatically sets aside a percentage of income for HMRC
• VAT filing direct to HMRC (MTD-compliant)
• Self Assessment and Corporation Tax filing via Auto Accountant
• Company formation service included
• Confirmation statement filing
• Smart pots for saving and budgeting
• Up to 40% cashback on purchases at 150+ partner brands
• Cash deposits via PayPoint
• 24/7 Cardiff-based human support (under 50-second average response)
• ANNA connects to Xero, QuickBooks, FreeAgent, Sage

✅ Pros

• All-in-one: business account + accounting + tax in one place
• 24/7 Cardiff-based support – real people, not bots
• Auto Accountant handles VAT, Self Assessment, and Corporation Tax automatically
• Up to 40% cashback on purchases at 150+ partner brands – on all plans including free
• Company formation and Companies House filings available
• Cash deposits via PayPoint
• No credit check to open

❌ Cons

• ANNA is an e-money institution, not a bank. Customer funds held in segregated accounts (not FSCS protected in the traditional sense, but ringfenced and protected)
• Some features only available on paid plans

Overdraft: Not available.

Tide business bank accounts

Tide is one of the UK's most established digital-first business account providers, with 33,000+ Trustpilot reviews and a 4.4 "Excellent" rating. It's popular with sole traders and small limited companies who want a straightforward account with room to grow.

Key features

• MTD VAT filing and MTD for Income Tax – free on all plans
• Invoicing (3 free/month on Free; unlimited on Pro+)
• Receipt capture via app
• Company formation and confirmation statement filing
• Expense cards (extra on Free; included from Smart)
• Tide Instant Saver – up to 4% AER (first 4 months)
• Cash deposits at Post Office (0.5%–0.99% fee) and PayPoint (3%)
• 24/7 in-app chat on all plans; phone support from Smart

✅ Pros

• Strong Trustpilot score with large review base
• MTD tools free on all plans, including the free tier
• PayPoint and Post Office deposit options
• Company formation available
• Good savings rate on Instant Saver account

❌ Cons

• Free plan very restricted: only 5 transfers/month, 20p per transfer after
• No corporation tax filing
• No FSCS protection (e-money institution)
• Cashback only on the most expensive Max plan (£69.99/month)
• ATM withdrawals cost £1 on all plans

Overdraft: Not available.

Read our full Tide business account review →

Zempler (formerly Cashplus) business bank accounts

Zempler Bank – previously known as Cashplus Bank – is a digitally-focused challenger with a large customer base (16,600+ Trustpilot reviews) and a respectable 4.5 "Excellent" rating. It's a solid mid-market option for businesses that want cashback alongside basic invoicing and MTD VAT tools.

Key features

• MTD VAT filing tool included on all plans
• Invoice generator with payment notifications
• Receipt capture and organisation
• Cashback up to 1% on card spending (Pro plan)
• Savings pot with 0.5% interest (Pro)
• Cash deposits at Post Office (11,500+ locations)
• Xero, QuickBooks, Sage integrations
• FSCS protection up to £120,000
• Overdraft available for limited companies and sole traders after 3 months

✅ Pros

• Permanently free Business Go plan
• MTD VAT included on all plans, including free tier
• Cashback up to 1% on Pro
• Post Office cash deposits available
• Overdraft available after 3 months – unusual for a challenger account

❌ Cons

• Business Go plan allows only 3 free outgoing payments per month – very limited
• No corporation tax, payroll, or company formation
• No AI tax advisor or personalised tax calculator
• Cash deposit fee (0.55%) is relatively high

Overdraft: Available for eligible businesses after 3 months.

Read our full Zempler business account review →

Revolut business account

Revolut is the UK's biggest fintech by name recognition, with a 4.7/5 Trustpilot score across 392,000 reviews. Its business account is popular with international and multi-currency businesses. Worth noting: Revolut removed its free plan for new business customers in February 2026.

Key features

• Multi-currency accounts across 35+ currencies
• Built-in invoicing with VAT fields on all plans
• Receipt matching via Expenses add-on
• Expense cards with spend controls (£5/member/month add-on)
• Payroll management (£3/user/month add-on)
• Business savings at ~3.88% GBP AER
• Bulk payments functionality
• Xero, QuickBooks, Sage integrations

✅ Pros

• Excellent for international payments and multi-currency operations
• Large, well-recognised brand
• Invoicing included on all plans
• Competitive savings rate
• 24/7 support on all plans

❌ Cons

• No free plan since February 2026
• No direct VAT filing or MTD submissions to HMRC
• No corporation tax, company formation, or confirmation statement filing
• Cash deposits discontinued February 2026
• Expense cards and payroll are paid add-ons
• Basic plan only includes 10 free local transfers per month

Overdraft: Not available.

Read our full Revolut business account review →

Starling Bank business current account

Starling is a fully authorised bank – regulated by the PRA and FCA – which gives it a slightly different standing from e-money institutions. It has a 4.1/5 Trustpilot score across 45,000 reviews, and a permanently free core account with solid UK banking fundamentals.

Key features

• Free UK transfers, direct debits, and standing orders
• Free MTD for Income Tax on all accounts
• Spaces (virtual pots) for ringfencing VAT and tax funds
• Free invoicing on all accounts
• Mobile cheque deposits via app
• 24/7 UK customer support
• Xero, QuickBooks, FreeAgent integrations
• Cash deposits at Post Office (0.7%, min £3)
• FSCS protection up to £85,000

✅ Pros

• Fully authorised bank – FSCS protected
• Free MTD for Income Tax included in base account
• 24/7 UK support
• Free invoicing and Spaces on free plan
• Large, credible Trustpilot review base

❌ Cons

• VAT filing requires paid Accounting Plus add-on (£7–£14/month)
• No cashback, payroll, corporation tax, or company formation
• No employee expense cards
• No payment links
• Post Office only for cash deposits (no PayPoint)
• Annual cash deposit limit of £100,000 for sole traders

Overdraft: Not available via the app. Business overdraft options available on request for eligible businesses.

Read our full Starling business account review →

Wise business account

Wise is not a traditional business account – it's primarily an international payments and multi-currency platform. But for startups with international clients or suppliers, it's genuinely hard to match on cost and speed.

Key features

• Send in 40+ currencies at mid-market exchange rates (no FX markup)
• Receive in 23+ currencies with local account details (Advanced)
• Payment links and QR codes (Advanced)
• Invoicing tool (Advanced)
• Employee expense cards with custom spending limits
• Batch payments – pay up to 1,000 recipients at once
• 70% of transfers arrive within 20 seconds
• Xero, QuickBooks, FreeAgent integrations

✅ Pros

• Exceptional Trustpilot score (4.3/5 across 288,000 reviews)
• Advanced plan costs just £50 – total lifetime cost
• Mid-market exchange rates with no markup
• Multi-currency interest earning (GBP, EUR, USD)
• Employee expense cards included

❌ Cons

• No cash deposits
• No VAT filing, MTD tools, payroll, or corporation tax natively
• No company formation or confirmation statement filing
• Not a full UK current account on the Essential plan (no sort code by default)
• No overdraft or lending

Overdraft: Not available.

Read our full Wise business account review →

Monzo business bank accounts

Monzo is one of the most recognisable names in UK banking, with 67,000 Trustpilot reviews and a 4.6 "Excellent" rating. Its free Lite plan is genuinely useful – including 24/7 support, savings pots, payment links, and a free MTD for Income Tax tool.

Key features

• Free MTD for Income Tax tool (powered by Sage) on all plans – sole traders and landlords
• Payment links on all plans
• Savings pots earning 1.30% AER on all plans
• In-app cheque deposits (under £500) on all plans
• 24/7 UK support on all plans
• Invoicing on Pro and Team plans
• Expense cards on Team plan
• Xero, FreeAgent, Sage, QuickBooks integrations (Pro+)
• Cash deposits at Post Office and PayPoint (£1 per deposit)
• FSCS protection up to £85,000

✅ Pros

• Free plan includes MTD, 24/7 support, payment links, and pots – more than most free accounts
• Strong brand with high customer satisfaction
• FSCS protection as a full UK bank
• In-app cheque deposits

❌ Cons

• No cashback on any plan
• No VAT filing directly – relies on integrations
• No payroll, corporation tax, or company formation
• MTD tool covers sole traders and landlords only – not limited companies
• Invoicing and accounting integrations locked behind paid plans (£9+/month)
• Cash deposit monthly limit: £3,000 for sole traders

Overdraft: Not available on business accounts currently.

Read our full Monzo business account review →

Mettle business bank account

Mettle is backed by NatWest and offers a completely free account with FreeAgent accounting software bundled in. It has a 4.7/5 Trustpilot score across 6,000+ reviews. It's a strong option for sole traders and small limited companies who want proper accounting tools at zero cost.

Key features

• FreeAgent accounting software included free (requires 1 transaction/month)
• Invoicing with payment auto-matching
• Receipt uploads (photo or PDF)
• Tax savings pots with 0.95% AER interest
• Personalised tax calculation features
• Scheduled payments, standing orders, direct debits
• Apple Pay and Google Pay
• FSCS protection up to £85,000 (via NatWest)
• App rated 4.9 on iOS, 4.8 on Android

✅ Pros

• Genuinely free – no paid tiers, no time limit
• FreeAgent included free – a real saving (normally ~£19+/month)
• Strong app ratings
• High-interest savings pots (0.95% AER)
• No credit check required

❌ Cons

• No cash deposits at all – no Post Office, no branch
• Maximum 2 owners; only 1 can access the account
• No VAT filing natively (handled via FreeAgent)
• No 24/7 support
• No company formation or confirmation statement filing
• No cashback, no employee expense cards

Overdraft: Not available.

Read our full Mettle business account review →

✨ Best high street business accounts

NatWest startup business account

NatWest is one of the UK's biggest high street banks and offers a generous 24-month free banking period for startups. It includes FreeAgent for all business account holders – covering invoicing, VAT, payroll, and MTD.

Key features

• FreeAgent included free for all account holders (invoicing, VAT, MTD, payroll, corporation tax)
• Full branch and Post Office network across the UK
• Cash deposits at Post Office, branches, and Cash Deposit Machines (£0.95/£100 after free period)
• Business current account with Relationship Manager access (businesses over £500k turnover)
• Overdrafts, loans, and invoice finance available
• FSCS protection

✅ Pros

• 24-month free banking – one of the longest introductory periods available
• FreeAgent covers more than most banks' included tools (VAT, payroll, corporation tax)
• Wide physical network
• Access to credit products

❌ Cons

• Very low Trustpilot score (1.4/5) – widespread complaints about customer service
• No 24/7 support
• No cashback, pots, or payment links on the core account
• Standard tariff charges kick in after 24 months
• No company formation or confirmation statement filing
• FreeAgent is a third-party integration, not native in-app

Overdraft: Available for eligible businesses.

Read our full NatWest business account review →

Barclays startup business account

Barclays offers a 12-month free period for startups, along with free FreshBooks accounting software (invoicing and MTD VAT filing) for all account holders. They have a broad network of banks across the UK’s high streets.

Key features

• FreshBooks accounting and invoicing included free
• SmartBusiness Dashboard for invoice management
• MTD VAT filing via FreshBooks
• Post Office and branch cash deposits
• Cheque deposits at branch and Post Office
• CHAPS and SWIFT international payments
• Lending from overdrafts to business loans
• FSCS protection up to £85,000

✅ Pros

• FreshBooks included – invoicing and MTD VAT at no extra cost
• Wide branch and Post Office network
• Strong lending range (overdrafts, loans, credit cards)
• Established, well-capitalised institution

❌ Cons

• Very low Trustpilot score (1.5/5)
• No permanent free plan
• No 24/7 support
• No payment links, cashback, or savings pots
• No company formation, corporation tax, or payroll
• Receipt scanning only via third-party app, not native
• Account opening can take up to 10 days

Overdraft: Available.

Read our full Barclays business account review →

Santander business current account

Santander's Business Current Account Classic is a traditional full-service account with a 12-month free period for startups and switchers. It has won 23 Business Moneyfacts Awards for Best Business Current Account Provider.

Key features

• Branch network and Business Banking Manager support
• Post Office cash deposits (£1.25/£100; first £1,000/month free at Santander machines)
• Cheque deposits at branch and Post Office (70p each)
• Overdraft from £500 to £25,000 at 14.94% EAR
• FSCS protection

✅ Pros

• Award-winning business banking recognition
• Business Banking Manager for personal support
• Post Office deposit access
• Overdraft available

❌ Cons

• Very low Trustpilot score (1.5/5)
• Only 12 months free – shorter than many competitors
• No native invoicing, VAT filing, or receipt scanning
• No cashback on current account (credit card only, separate)
• Supports maximum 2 directors
• Cash deposit fee relatively high (£1.25/£100)
• No 24/7 support

Overdraft: Available, £500–£25,000.

Read our full Santander business account review →

Virgin M Account for Business (Virgin Money)

Virgin Money offers 2 business accounts: the M Account (permanently free for businesses with turnover under £1m) and the Business Current Account (free for 25 months, then £6.50/month). Note: following Nationwide's acquisition of Virgin Money, the business transfer completed on 2 April 2026 – these accounts are now sold under the Nationwide brand but operated through Virgin Money's infrastructure and app.

Key features

• Cashback on debit card spending: 0.25% (M Account); 0.35% capped at £500/year (Business Current Account)
• In-app cheque scanning
• Xero, Sage, QuickBooks integrations
• 6 months free Xero subscription
• Cash deposits at branch (90p/£100)
• FSCS protection up to £120,000

✅ Pros

• Cashback on a permanently free account – uncommon
• 25-month free period on Business Current Account (longest among traditional banks)
• In-app cheque scanning
• High FSCS protection limit (£120,000)

❌ Cons

• Extremely poor Trustpilot score (1.4/5) with 89% of reviews rated 1 star
• No invoicing, VAT filing, or native tax tools
• No company formation, payroll, or confirmation statement filing
• No 24/7 support
• No savings pots or modern money management features
• Business Current Account reverts to £6.50/month after 25 months

Overdraft: Not confirmed.

Read our full Virgin Money business account review →

Lloyds Bank small business account

Lloyds is the cheapest of the "Big Four" banks at £7/month after the free period. Its Business Finance Assistant provides free invoicing and MTD VAT filing built directly into the account.

Key features

• Business Finance Assistant: free invoicing, cash flow tracking, MTD VAT filing
• Post Office deposits at 11,500+ locations (£0.85/£100)
• Branch network with Immediate Deposit Machines
• Overdraft and business loans available (up to £10m)
• Daily transfer limit up to £250,000
• FSCS protection up to £85,000

✅ Pros

• MTD VAT filing built into the account at no extra cost
• Cheapest Big Four bank after the free period (£7/month)
• Wide Post Office and branch network
• Access to lending

❌ Cons

• Very low Trustpilot score (1.8/5)
• No permanent free plan
• No 24/7 support
• No payment links, cashback, or savings pots
• No payroll, corporation tax, or company formation
• Business Finance Assistant not available for international businesses

Overdraft: Available (11.52% per year over Bank of England base rate, up to £25,000).

Read our full Lloyds business account review →

HSBC Kinetic / HSBC small business banking account

HSBC stands out amongst the "Big Four" as the only one with a genuinely free ongoing business account (no time limit). Its My Business Finances tool – powered by Sage – brings invoicing, MTD VAT, and MTD Income Tax filing into the banking interface.

Key features

• My Business Finances (Sage-powered): invoicing (free), MTD VAT (£5.99+VAT/month after 3-month trial), tax estimation
• MTD Income Tax support (launched April 2026)
• Receipt upload in development
• 327 UK branches plus 11,500+ Post Office locations
• Mobile cheque deposit via app
• Overdraft and lending up to £100,000+
• FSCS protection up to £85,000

✅ Pros

• Only Big Four bank with a genuinely permanently free business account
• Highest Trustpilot score among the Big Four (3.9/5 for business banking)
• MTD VAT and Income Tax tools embedded in the account
• Wide physical network
• Free Small Business Growth Programme

❌ Cons

• MTD VAT tools cost £5.99+VAT/month after 3-month trial
• Cash deposit fees high (1.50% + £1.50)
• No payment links, cashback, or savings pots
• No company formation, payroll, or corporation tax filing
• No 24/7 support confirmed

Overdraft: Available.

Read our full HSBC business account review →

TSB Business Plus account

TSB's Business Plus account offers 30 months of free banking – the most generous introductory period of any traditional high street bank. However, there's an important caveat: TSB is currently only accepting applications from existing customers.

Key features

• Post Office and branch cash deposits (free during 30-month period; 70p/£100 thereafter)
• 12 months free specialist business advice via Enterprise Nation
• Overdraft available
• Debit card included

✅ Pros

• 30-month free period – longest of any traditional bank
• Lowest ongoing fee of any high street bank (£5/month)
• Respectable Trustpilot score for a traditional bank (4.3/5)

❌ Cons

• Not currently accepting new customers from the general public
• No invoicing, VAT filing, or any fintech features
• No cashback, pots, or accounting integrations
• Fees jump sharply after free period (70p/cheque, 70p/£100 cash)

Overdraft: Available.

Read our full TSB business account review →

The Co-operative Bank Directplus account

The Co-op Bank occupies an unusual position: genuinely ethical banking with a free permanent option and a 30-month interest-free period on the Directplus account. A good fit for businesses that care about who they bank with.

Key features

• "Go Get Paid" invoicing tool included on all accounts
• Business Bank Account Plus includes savings account at 1.37% AER
• Directplus includes £1,000/month free cash deposits
• Physical branch access
• Xero, QuickBooks, Sage integrations
• Overdraft available up to £25,000 (no arrangement fee on Plus)

✅ Pros

• Ethical banking brand – a genuine differentiator for values-driven businesses
• Free permanent Business Bank Account
• 30-month free Directplus period
• Basic invoicing included across all accounts
• FSB account available for Federation of Small Businesses members

❌ Cons

• High cash deposit fees on the free tier (£1.50/£100)
• No receipt scanning, VAT filing, or modern tax tools
• No company formation, payroll, or confirmation statement filing
• No 24/7 support
• No cashback or savings pots on the free plan

Overdraft: Available up to £25,000 (no arrangement fee on Plus plan).

Read our full Co-operative business account review →

Bank of Scotland small business account

Bank of Scotland is part of Lloyds Banking Group and is primarily focused on Scotland. Its business accounts are fairly standard high street fare – with physical branch access and a 12-month free period for new businesses.

Key features

• Physical branches (primarily Scotland)
• Business savings accounts available
• Overdraft from £500 to £25,000 (setup free up to £5,000)
• Business loans from £1,000+
• FSCS protection

✅ Pros

• Part of Lloyds Banking Group – large, well-capitalised
• Physical branch presence in Scotland
• Overdraft and lending available

❌ Cons

• Very poor Trustpilot score (1.6/5) with ~80% 1-star reviews
• Only 12 months free – shortest introductory period surveyed
• No digital-first features at all: no invoicing, VAT filing, tax tools, or receipt scanning
• No accounting software integrations confirmed
• Website frequently returns error pages
• Primarily Scotland-focused

Overdraft: Available.

Read our full Bank of Scotland business account review →

Does a startup need a business bank account?

If you’re a sole trader

Legally, sole traders are not required to have a separate business account – you and your business are the same legal entity. But using your personal account for business transactions can create real problems:

• HMRC may scrutinise your personal account if it contains business transactions
• It becomes very hard to track expenses and income accurately
• Most accounting software requires a dedicated business account to function properly
• It looks unprofessional to clients and suppliers

It’s good practice to open a business account. Even a free one. It will save you time and stress at tax time.

If you’re a limited company

For limited companies, a separate business account is legally required. A limited company is a distinct legal entity from its directors and shareholders. Company money must not be mixed with personal money. Using a personal account for company transactions is a serious compliance issue.

How much do startup business accounts cost?

Here's a rough guide to what you'll pay across different types of account:

Beyond the monthly fee, watch out for:

• Per-transfer fees – typically 20p–35p each after a free allowance
• Cash deposit fees – usually 0.5%–1.5% of the amount deposited
• International payment fees – £10–£30 per CHAPS or SWIFT payment
• Card fees – some providers charge for additional cards or expense cards
• Add-on tool fees – VAT filing, payroll, and accounting tools sometimes cost extra

The true cost of a ‘free’ account can be significant. Make sure you do the maths for your likely usage.

Eligibility criteria for startup business accounts

Can any business open a startup account?

Most startup business accounts are open to:

• Sole traders (UK-registered)
• Limited companies incorporated in the UK (usually at Companies House)
• Partnerships and LLPs

Some providers have restrictions. Santander, for instance, only accepts businesses with up to 2 directors/owners. Some high street banks are unavailable to fintechs, payment institutions, and e-money businesses. TSB is currently closed to new applicants entirely.

Who can open a startup business account?

Typically, you'll need to be:

• Aged 18 or over
• A UK resident (some providers require you to have been resident for 1–3 years)
• Registered or based in the UK
• A director, owner, or authorised signatory for the business

Some providers (including ANNA) do not require a credit check. Others, particularly traditional banks, will conduct affordability or credit assessments.

How to open a startup business bank account

Most digital accounts can be opened in under 10 minutes. Traditional bank accounts often take several days – Barclays, for example, can take up to 10 days.

Personal information

You'll typically need to provide:

• Full legal name
• Date of birth
• Residential address (and history for the past 3 years)
• Photo ID – usually a passport or driving licence
• A selfie or short video for identity verification (for digital accounts)

Company information

For limited companies, you'll also need:

• Company name and registered number (from Companies House)
• Registered office address
• Details of all directors and shareholders with significant control (25%+ ownership)
• Details of your business activities and expected turnover
• VAT number (if registered)
• UTR (Unique Taxpayer Reference), if you have one