Open a UK business account

Sole traders aren’t legally required to open a separate account for business, but there are plenty of advantages to keeping your personal finances separate from your business finances. A business account will make things clearer for HMRC, and it’ll make it easier for you to claim tax relief.

If you’re running a limited company, then your business is considered a separate legal entity to you, and you’re legally obliged to hold an account just for your business.

To pay money into your account, you’ll need your ANNA business account details. Just open the app and tap the middle button at the bottom of your screen, and you’ll find your details under your Account Summary. Make a note of your account number and sort code, then set up your ANNA account as a payee with your other bank. Now you can pay into your ANNA account.

ANNA inbound payments are processed every 30 minutes on the hour and half hour (eg. 10am, 10.30am, 11am and 11.30am). It takes up to 15 minutes for payments to be credited to your account.

Unfortunately not, we can’t accept cheques as a paying in method. You’ll need to cash the cheque elsewhere and transfer the funds over to your ANNA account. Don’t forget, you can also pay cash into your account via your nearest PayPoint.

Open Banking is the secure way for third party providers to access your financial information, so you can connect your different bank account and banking apps. It can give you a better understanding of your accounts, and help you find new ways to look after your money.

ANNA is partnered with TrueLayer, Europe’s leading provider of Open Banking services. This means you can connect your other bank accounts in the ANNA app, and see all your transactions securely in one place.

Yes.

Your ANNA business account comes with a UK sort code and account number, and you also get an IBAN to accept international payments. Check our pricing table for information about the fees.

Yes, you can apply for an ANNA account from outside the UK. However, only UK residents are eligible for an ANNA account.

No, we don’t have credit checks. Instead we carry out an identity check to comply with UK anti-money laundering regulations. Traditional banks use a more complex credit check to vet future customers. ANNA isn’t a bank and doesn’t offer credit, which means our identity checking process is quicker, easier and won’t affect your credit score.

When you provide all the required documents during app setup, it usually takes about 3-5 minutes to open an ANNA business account. We may need more time if your documents need extra attention – for example when an ID photo is blurry or utility bills don’t match the address you gave us.

No, we don’t offer prepaid debit cards. The card you get with your ANNA business account is a Mastercard® Business debit card, issued by PayrNet Limited and licensed by Mastercard International Inc.

Yes, we offer joint business accounts for companies with multiple directors. After you open your ANNA account, let us know in the chat that you need to set up access for other people in your company. They will be able to install the ANNA app and use your joint account the same way you do.

No, ANNA isn’t a bank. We’re a financial services provider working under the e-money license of our partner Railsr.

Yes. However, ANNA isn’t a bank, so protection doesn’t apply to us. But don’t worry, your money is still safe – read about e-money and ringfencing, or just watch our YouTube video about it.

ANNA doesn’t offer overdrafts, but there are a range of credit facilities available for eligible customers.

E-money institutions (EMIs) aren’t banks but they offer accounts where you can store money, pay for things and get paid. They are overseen by the Financial Conduct Authority (FCA). Unlike banks, EMIs can’t loan out their money, so it’s kept secure in a special safeguarding account. Find out more here.

ANNA isn’t a bank account, but it’s still worth understanding the different account types. Most business bank accounts are current accounts, which give you easier access to your money, but don’t offer interest. Some business bank accounts are savings accounts. These offer interest on the money in your account, but there are usually more restrictions on how you can access your money.

Absolutely. ANNA is an officially Authorised Corporate Services Provider (ACSP) for Companies House – which means we can verify your identity ahead of the 18 November 2025 deadline.

We’ve actually been doing this from day one – verifying your ID is part of opening an ANNA business account, so becoming an ACSP was a no-brainer. One less thing for you to worry about.

You can learn more about on our identity verification page.