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A business bank account is a dedicated current account for your company that legally separates personal and business finances — required for limited companies and essential for all businesses. Commercial accounts include payroll management multi-user access and accounting software integrations.
Monthly fees, transaction charges and features vary significantly between high street banks and digital challengers. Comparing ensures you pay the right amount for the features you actually need, with many providers offering 12 to 18 months of free business banking.
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Common questions about opening a business bank account fees and choosing the right provider.
Digital challengers often provide free accounts while traditional banks typically charge £5 to £25 per month. Transaction fees and cash handling charges vary significantly.
Digital challengers often provide free accounts while traditional banks typically charge £5 to £25 per month. Transaction fees and cash handling charges vary significantly.
Digital banks can open accounts within 24 to 48 hours online. Traditional banks typically take 1 to 4 weeks and may require an in-branch appointment.
Typically proof of identity, proof of address, Companies House registration number (if limited) and details of all directors.
Yes — the Current Account Switch Service (CASS) moves all payments automatically within 7 working days for most accounts.