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Startup business
bank account
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We Compare business bank accounts with the top providers
Revolut
Business Account
Free banking duration
On going
Monthly fee
0
Interest
0% AER
Credit facility
Not available
Simple 5 minute application
Tide Banking
Cashback
Free banking duration
Not applicable
Monthly fee
£49.99
Interest
0% AER
Credit facility
Various credit options available
0.5% cashback on everything you spend on your Tide card
150 free transfers per month
Tide Banking
Business Current Account
Free banking duration
Ongoing
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
Various credit options available
Award-winning business account and no monthly fees
**OFFER** 6 month free bank transfers*
Cashplus
Business Bank Account
Free banking duration
Ongoing
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
Business overdraft available upon invitation
Simple online 5 minute application
Compare start up business bank accounts
Finding the right business current bank account can become a little time consuming.
- We can help you find the best bank account for your new business
- We’ll find you the longest free business banking period
- We have helped thousands of startup’s across the UK
What is a startup business account?
Start-up business banks are similar to standard business accounts, as they all provide a way to manage your finances. However, there are some differences in terms of the account features, benefits and costs. Startup business banking accounts generally offer better incentives than accounts designed for an established business. Many banks will charge no fees for an initial period, as a way to support your business in its early stages. There are benefits designed to help you get your business off the ground, such as business advice and accounting software integration. Banks are keen for you to open startup business accounts, in the hope that you will become a long-term customer. This means that you can benefit from a variety of great perks.
What type of business accounts are available?
There is no single bank which provides the best bank for start-up businesses, as each provides different features. The best start-up option will be the provider which offers the service benefits for your specific requirements. There are many high-street banks which provide startup business accounts, however 'challenger banks' are becoming a popular alternative.
These challenger banks are smaller than the traditional banks and usually specialise in providing an online alternative. Many of these accounts are designed specifically for start-ups, with features catering to the needs of a small operation. The following accounts are designed specifically for start-ups and include both high-street and online banking options:
Revolut for Business
This account is designed to save you time and money, ideal if you plan on regularly processing domestic and international electronic payments. Business customers can apply online and very quickly have an account up and running.
Tide Business Current Account
Designed to make small business banking as simple as possible, with a 5-minute online application. There are no monthly fees and you will receive a free MasterCard.
HSBC Business
An account from a high-street bank which is designed to help new businesses grow. Featuring 18 months free banking, with a variety of online business support services including telephone banking.
Yorkshire Bank Business Current Account
This account is designed to save you time and money, ideal if you plan on regularly processing domestic and international electronic payments. Business customers can apply online and very quickly have an account up and running.
CashPlus Business Current Account
This bank was established in 2004 and operates across the UK. There are no credit checks and it is free to use UK ATMs, process bank transfers and pay staff wages.
Clydesdale Bank Business Current Account
Clydesdale Bank has years of experience in assisting startup businesses which operate in a range of industries. Includes 25 months free day-to-day everyday banking.
Anna Business
This is an account designed specifically for startups, small businesses and sole traders. The account includes a free invoicing service, which creates and chases late payments.
Countingup Startup Account
Clydesdale Bank has years of experience in assisting startup businesses which operate in a range of industries. Includes 25 months free day-to-day everyday banking.
Santander Business Current Account
Ideal for start-ups looking for traditional banking, such as cash deposits and withdrawals. It is possible to earn interest on your balances and you will receive cashback annually on your credit turnover.
CardOneMoney Business
This account is designed to provide easy access to your funds, through SMS, telephone and online management. There is a convenient online payment system to help you manage bills, invoices and wages.
Acorn Business
Acorn was established in 2007 and now provides both personal and business accounts. They specialise in providing accounts to those with poor credit histories. Giving your company the financial service it needs to conduct transactions.
Fair Everywhere Business
If you regularly conduct business at home and abroad, this account offers excellent currency rates. There are free international payments, money transfers and cashback rewards for using your account.
Read more about business bank accounts in our FAQ
How to find the best start up business bank account
Perhaps your personal bank provides a great service, but they may not be ideal for a startup venture. Taking the time to complete a start-up business bank account comparison, will help to make sure you open the best account available.
Here at BusinessComparison, we can help you find exclusive deals for your startup account. Whether you are opening your first business account or switching to a new start-up account. To help you compare start-up business accounts, we have developed a free, no-obligation comparison service. This innovative tool is designed to help you compare bank accounts for business.
Simply use the refine search and our useful tool will compile a list of matching accounts. It is possible to filter by features such as:
- A quick application process
- Banks with a long fee free period or no annual
- The ability to open an overdraft
- Banks for those with poor credit or declared bankrupt
- A mobile banking app
- Low fees to pay cash into the account
- Accounts which will pay interest on your balance
- Banks which provide low cost foreign transfers
Our comparison tool will provide you with a list of potential start up business accounts, which you will be able to easily compare. You will quickly be able to compare free banking periods, monthly costs and whether they provide accounts for start ups.
We have listed the product features and key facts, so you can see what each provider offers. Once you have found the right option for you, click the link which will take you to their website. From here you will be able to apply for a business account online and complete your application. Before you open your new current account, it is advisable to compare reviews from other businesses. There are reviews online, which will provide you with an insight into other customer experiences.
How to open the best bank account for small business start ups
The process to open a current account is designed to be quick and simple. If you are opening an online account, it is likely the whole application will be completed online. For traditional startup banking accounts, you will be able to start the application online, however you will need to visit a branch to sign and open your banking facility.
You will need to provide your ID and address, alongside providing some key information. For example, your trading address, personal details, business details, including; annual turnover, Companies House registration number and information on the products and services you offer.
If you already have a current account for business, you may be interested in switching banks if you’re unhappy with your current bank. Many of the startup bank accounts are members of a switcher guarantee service. If your current bank is a member, you will be covered by the 7-day switch guarantee.
To find out more about the range of products we compare, please contact our team today.
