When you’re simply beginning out as a enterprise, a free enterprise checking account is an effective approach to minimise overheads when you get your small business established.* We’ve rounded up one of the best free enterprise financial institution accounts for UK small companies and reviewed every supplier.
*By free, we imply enterprise financial institution accounts with out month-to-month account charges. Some enterprise account suppliers listed cost month-to-month charges if a minimal steadiness just isn’t maintained. There aren’t any fully free enterprise financial institution accounts as different banking fees could be incurred, comparable to for making ATM withdrawals, worldwide funds, and transfers. Please learn suppliers’ phrases and situations for extra particulars.
Key takeaways:
- A free enterprise financial institution might prevent as much as £300 a 12 months.
- Conventional Excessive Road Banks supply in-person department assist.
- Digital banking options solely supply phone/chat assist.
- Examine for hidden prices or restricted fee-free durations.
How to decide on a enterprise checking account
Selecting who your small business banks with just isn’t a easy determination. There are a variety of things which might have an effect on your determination. These embody:
- Are there month-to-month charges?
- Do you obtain FSCS safety?
- Are there fees for financial institution transfers/ deposits?
- Would you like in-branch assist?
- What different advantages/ options include the supplier?
- What are the moral values of the financial institution?
- Are the client evaluations constructive?**
**Trustpilot evaluations listed correct as of 30 April 2026.
Comparability desk of free enterprise financial institution accounts
Prime 8 free UK enterprise financial institution accounts
HSBC
The HSBC Small Enterprise Banking Account not has a month-to-month upkeep charge and doesn’t cost for normal home digital transactions. Tailor-made for small companies and start-ups, the account presents devoted assist through its community of enterprise specialists, free accounting instruments and borrowing options as much as £100,000.
It comes with its personal My Enterprise Finance-integrated Making Tax Digital software program and monetary insights instrument. That is free for 3 months after you be part of, then is obtainable for £5.99 + VAT per thirty days after the introductory supply interval.
Key Options
- No month-to-month account charge and free normal home digital transactions (charges for different transactions like money withdrawals and cheque deposits)
- Visa debit card
- Borrowing options as much as £100,000
- Visa business card – no annual charge for the primary 12 months (then £32)
- Entry to safe digital banking together with the power to scan and deposit your cheques through the Enterprise Banking Cell app
- Banking 24/7 on-line
- Comes with My Enterprise Funds free accounting software program
- UK-based phone assist
- Worldwide funds for over 60 currencies
- Financial institution in department and at 11,500 Submit Workplace branches
Trustpilot ranking: 4.8/5 (3,398 evaluations)
Open a Small Enterprise Banking Account with HSBC
Tide
Tide’s Free present account has no arrange charges or month-to-month fees and is a good choice for small companies trying to profit from further perks linked to the account.
With a Tide enterprise checking account, you may settle for contactless funds in your cellphone utilizing your iPhone and the Tide app at no further value. You may also get your web site up and working with their all-in-one starter package (free for the primary month, then £7.99 + VAT per thirty days), and profit from free Making Tax Digital software program.
Tide is a digital banking platform, that means it doesn’t have any branches to supply in-person assist.
Key Options:
- FSCS protected
- No month-to-month charges
- 24/7 chat assist
- Earn as much as 4% AER curiosity with Tide Instantaneous Saver Account
- Free Faucet to Pay to simply accept contactless funds
- Free Making Tax Digital software program
Trustpilot ranking: 4.4/5 (33,790 evaluations)
Zempler Financial institution
Zempler Financial institution’s Enterprise Go account could be opened in minutes and has helped over 650,000 companies get off the bottom. Zempler doesn’t have any branches, though does supply phone assist with actual people Monday – Saturday and on Financial institution Holidays.
Nonetheless you’re going to be sending cash recurrently (both funds or transfers), you could discover the 35p cost per cost/switch after the preliminary 3 free funds an expense that rapidly mounts up.
Key Options:
- No month-to-month account charges
- FSCS protected
- Sending cash: 3 free funds & transfers per thirty days (35p after)
- Free Making Tax Digital instrument
- Free bill generator
- Free digital receipts seize
- Spending insights
Trustpilot ranking: 4.5/5 (16,754 evaluations)
Proper now, Zempler Financial institution have a proposal the place you may obtain £100 in case you open a enterprise account with them and deposit £100 inside 30 days into your new enterprise checking account. Phrases and situations apply.
Open a Zempler enterprise account
Starling Financial institution
Starling Financial institution is an award-winning digital financial institution with excessive buyer satisfaction and over 450,000 UK enterprise prospects. You may select from the enterprise account or the only real dealer account, each of which haven’t any month-to-month charges or arrange fees.
Starling is a stable choice for companies trying to combine with third-party cost platforms and Xero/QuickBooks/FreeAgent.
Nonetheless, Starling doesn’t have bodily branches, and in addition doesn’t supply overdrafts.
Key Options:
- FSCS safety
- No month-to-month charges or arrange fees
- Free UK financial institution transfers
- Free ATM withdrawals (as much as 6 a day, day by day restrict £300)
- Worldwide funds to financial institution accounts in 34 international locations with no hidden charges
- Spending analytics
- 24/7 UK assist from actual people
- Free Making Tax Digital software program
Trustpilot ranking: 4.1/5 (46,000 evaluations)
Get began with Starling Financial institution
Monzo
With its recognisable coral card, Monzo is a well-liked alternative for UK companies trying to obtain helpful insights on their spending and revenue.
The Lite account has no month-to-month account charges and has a number of normal advantages, together with free, on the spot UK financial institution transfers, FSCS safety as much as £120,000, integrated Making Tax Digital software program, and the power to ship worldwide funds totally free.
The Lite account might not be appropriate for companies with massive finance groups, or for sole merchants wanting bill software program included with the account (that is solely accessible with the Professional account, £9 a month, or Crew account, £25 a month).
Key Options:
- No month-to-month charges
- FSCS safety
- Free, on the spot UK financial institution transfers
- Free worldwide funds
- Making Tax Digital software program included
- Spending insights
- Instantaneous entry financial savings pot (as much as 1.30% AER)
Trustpilot ranking: 4.6/5 (67,435 evaluations)
Open a Monzo Enterprise Account
The Co-operative Financial institution
Priding itself on moral banking, The Co-operative Financial institution’s Enterprise Account is right for small companies and sole merchants on the lookout for an moral answer to digital banking.
The Co-operative Financial institution’s Moral Coverage is dedicated to tackling the local weather disaster, campaigning for change, and demanding a fairer society. They don’t present merchandise, companies or funds to any companies that battle with their Moral Coverage.
You may handle your account on-line, on a cell app, or pop right into a department.
Key Options:
- No month-to-month charges
- FSCS Safety
- Free ATM withdrawals
- 42 branches nationwide (excludes Northern Eire)
- Discounted cost terminals
- Free invoicing software program, Go Get Paid
- Accountancy software program integration
Trustpilot ranking: 4.5/5 (17,219 evaluations)
Allica Financial institution
Allica Financial institution is geared in the direction of established companies relatively than start-ups or sole merchants who’re simply getting began as you’ll want £50,000 to open a Enterprise Rewards Account (their enterprise present account) and have been integrated for no less than twelve months.
Nonetheless, in case you meet these standards, you acquire entry to a variety of market-leading financial savings account in addition to a devoted relationship supervisor contact and borrowing options.
Allica Financial institution doesn’t have any bodily branches, however as a substitute has relationship managers positioned throughout the UK.
Key Options:
- No month-to-month account charges (prospects whose steadiness falls beneath a median of £10,000 within the earlier month will incur a £25 month-to-month charge)
- FSCS protected
- UK-based phone assist
- Market-leading financial savings accounts
- Native relationship supervisor
Trustpilot ranking: 4.6/5 (1,795 evaluations)
Metro Financial institution
Metro Financial institution’s Enterprise Financial institution Account is designed for small companies together with startups, sole merchants and restricted firms with lower than £2m turnover a 12 months.
The account is free – as long as your steadiness stays above £6,000 for the entire month (£8 per thirty days in any other case). This may increasingly make the account extra suited to switchers than companies simply beginning out or facet hustles.
Key Options:
- FSCS protected
- No month-to-month charges if steadiness above £6,000
- Overdraft and mortgage companies
- In-person department assist
- Free invoicing instrument to assist sole merchants and small companies receives a commission
Trustpilot ranking: 2.3/5 (5,667 evaluations)
Continuously Requested Questions
Do I legally want a enterprise checking account?
In case you are registered as a sole dealer, you aren’t legally required to open a enterprise checking account, though it is strongly recommended to maintain enterprise funds separate out of your private funds. This may make it simpler for self-assessment.
In case you are registered as a restricted firm it’s a authorized requirement to open a enterprise checking account.
What paperwork do I must open a enterprise checking account?
To open a enterprise checking account you’ll usually want the next supporting paperwork:
- Proof of id (passport/driver’s licence) and proof of UK deal with (a utility invoice/ a financial institution assertion out of your private account)
- Firm registration particulars
- Identification of all shareholders with over 10% of the enterprise (if relevant)
- A marketing strategy outlining why you want a marketing strategy
How lengthy does it take to open a enterprise checking account?
This may differ between banks, and should rely on any follow-up questions they should ask as a part of their Know Your Buyer (KYC) and Know Your Enterprise (KYB) checks. Nonetheless, normally a enterprise checking account is opened inside 4 weeks after the preliminary software is made.
What’s FSCS safety?
The Monetary Companies Compensation Scheme (FSCS) supplies compensation if a agency fails and is unable to pay claims in opposition to it, as much as £120,000 per UK-authorised and controlled financial institution, constructing societies and credit score unions.
Typically small enterprise house owners financial institution with their private account supplier out of simplicity, which raises the essential query: are each accounts are lined by FSCS safety?
If your small business is a separate authorized entity (for instance a Restricted Firm or an LLP), then the enterprise can declare as much as £120,000 for its enterprise checking account and you’ll declare as much as £120,000 on your private account.
When you run your small business as a sole dealer, your small business and private accounts can be thought-about as one entity, that means you’ll solely be capable of declare £120,000 in complete.
What are enterprise financial savings accounts?
Enterprise financial savings accounts are separate from your small business present account. A present account is used to make and obtain funds, though will seemingly not earn you any curiosity. A financial savings account is used to retailer surplus funds wanted for funds and earns curiosity. For extra data, see our article: The 8 greatest enterprise financial savings accounts – Small Enterprise UK
