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Compare  Business Bank Accounts for Start Ups

Tide

Business Account
Tide logo
Account Fee
No fee
Free Banking Duration

Ongoing

Interest Rate (AER)
0.00%
Apply now

No monthly or annual fees, free transfers for 1 year. £1 cash withdrawal and deposit fees will still apply.

Revolut for Business

Business Account
Revolut for Business logo
Account Fee
No fee
Free Banking Duration

Ongoing

Interest Rate (AER)
0.00%
Apply now

Revolut for Business is a next generation business account from Revolut, used by freelancers and companies to save time, save money and stay in control. 

ANNA

Business Account
ANNA logo
Account Fee
£5 per month
Free Banking Duration

6 months

Interest Rate (AER)
0.00%
Apply now

ANNA is free for six months for new customers, with no tie-in. Monthly plan costs from £5. 

CardOneMoney

Business Account
CardOneMoney logo
Account Fee
£12.50 per month
Free Banking Duration

3 months

Interest Rate (AER)
0.00%
Apply now

No credit checks. Up to 4 additional cardonemoney prepaid corporate MasterCards® which are linked to your business account.

Cashplus

Business Current Account
Cashplus logo
Account Fee
£69 per year
Free Banking Duration

None

Interest Rate (AER)
0.00%
Apply now

No credit check to open an account. Instant online decision, simple online application.

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  • Startup Bank Accounts

    As a start-up business owner, you need an account provider that will keep your finances organised, allow you to claim VAT and give you dedicated support from day one.

    If you have a start-up business that you’re looking to get off the ground, an essential step is to set up a business account, helping you to organise everyday expenses and keep your profits secure.

    Whether you’ve opened your own local café, work as a consultant for local businesses, or even have your own florist delivering flowers in the area, having organised accounts means you can concentrate on the more important aspect of running your business, especially if you are the sole proprietor.

    Starting your own business is already a challenge without also managing your finances and making sure the company is profitable. As a sole trader establishing a small business, you might have to turn your hand to a lot of different things, so having a start-up business account you can access from anywhere is a must.

    Why do I need a start-up business account?

    Organising your finances is just one of the many things you need to take on as a start-up business owner. At first, it can be a struggle to juggle all the different responsibilities without getting some help in the process. Thankfully, there is a lot of support you can get simply by opening a business account, especially if you’re assigned a business manager by your bank or building society.

    The following points will outline just a few reasons why getting a start-up business account is beneficial in the long run:

    • Keep organised – having a separate business account allows you to track your incomings and outgoings every month, as well as look back at annual progress to see how your business grows over the course of months and years. This might also allow you to highlight seasonal trends and opportunities for the coming year as well
    • Pay tax and reclaim VAT – if you don’t get a business current account from the outset, you will find it is a struggle to keep up with what you’ve spent in the future, which can make it tricky when it comes to paying tax and reclaiming VAT
    • Quick access to accounts – being a sole trader or part of a small business will mean a lot of your time will be taken up with managing, maintaining and restocking your business. Having easy and quick access to your money through internet, telephone or a mobile app will make it much easier to track your outgoings so you don’t spend over your limit
    • Dedicated support – by far the most welcome addition to your business account will be the level of support you receive to help you manage your money. As a fledgling business owner, you might not have as much experience of accounting as you’d like, so any support to get you going at the start of your new venture would help you avoid any pitfalls

    How to get a start-up business account?

    You will need to provide a few personal details when applying for a start-up business account, so that the bank or building society can check if you’re a responsible spender. They will usually ask for the following:

    • Business address and postcode
    • Contact details (either business or personal)
    • Companies House registration number (CRN)
    • Estimated turnover (or sensible projection as a new business)

    Should I get a start-up business account?

    Getting a business account is usually the best way to keep your finances organised for the purposes of tracking expenditure and also to claim back VAT on business expenses.

    For a start-up it’s even more important as it will also give you access to financial support and information from your account provider. This is crucial if you haven’t had much experience of bookkeeping and would like to improve your money management.

    We work with a number of providers to deliver a wide selection of business accounts for you to pick from, ensuring you can find the right account to help you and your business.

    Each provider is screened to make sure they meet our high standards before we agree to work with them. This ensures that you can trust them as much as we do, allowing you to find the best product from a reputable source.

    We have a diverse range of providers who can support your business whether you’re a sole trader, start up or limited company, or anything in between.

    Have a look through our providers to see which one might be able to provide the best business account for you.

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