If you happen to’re simply beginning out as a enterprise, a free enterprise checking account is an effective option to minimise overheads whilst you get what you are promoting established.* We’ve rounded up the most effective 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 isn’t maintained. There are not any fully free enterprise financial institution accounts as different banking fees may be incurred, reminiscent of 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 yr.
- Conventional Excessive Avenue Banks supply in-person department assist.
- Digital banking options solely supply phone/chat assist.
- Verify for hidden prices or restricted fee-free durations.
How to decide on a enterprise checking account
Selecting who what you are promoting banks with isn’t a easy choice. There are a variety of things which might have an effect on your choice. 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 shopper critiques optimistic?**
**Trustpilot critiques 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 now not has a month-to-month upkeep payment and doesn’t cost for traditional home digital transactions. Tailor-made for small companies and start-ups, the account provides devoted assist by way of 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 device. That is free for 3 months after you be a part of, then is offered for £5.99 + VAT per thirty days after the introductory supply interval.
Key Options
- No month-to-month account payment 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 industrial card – no annual payment for the primary yr (then £32)
- Entry to safe digital banking together with the flexibility to scan and deposit your cheques by way of the Enterprise Banking Cellular 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 Put up Workplace branches
Trustpilot score: 4.8/5 (3,398 critiques)
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 extra perks linked to the account.
With a Tide enterprise checking account, you’ll be able to settle for contactless funds in your telephone utilizing your iPhone and the Tide app at no extra price. It’s also possible to 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 On the spot Saver Account
- Free Faucet to Pay to simply accept contactless funds
- Free Making Tax Digital software program
Trustpilot score: 4.4/5 (33,790 critiques)
Get began with Tide
Zempler Financial institution
Zempler Financial institution’s Enterprise Go account may 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.
Nevertheless you’re going to be sending cash recurrently (both funds or transfers), chances are you’ll 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 device
- Free bill generator
- Free digital receipts seize
- Spending insights
Trustpilot score: 4.5/5 (16,754 critiques)
Proper now, Zempler Financial institution have a proposal the place you’ll be able to obtain £100 for those who 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 clients. You’ll be able to select from the enterprise account or the only 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.
Nevertheless, 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 score: 4.1/5 (46,000 critiques)
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 earnings.
The Lite account has no month-to-month account charges and has a number of normal advantages, together with free, immediate UK financial institution transfers, FSCS safety as much as £120,000, included Making Tax Digital software program, and the flexibility to ship worldwide funds without cost.
The Lite account is probably not appropriate for companies with giant 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 Staff account, £25 a month).
Key Options:
- No month-to-month charges
- FSCS safety
- Free, immediate UK financial institution transfers
- Free worldwide funds
- Making Tax Digital software program included
- Spending insights
- On the spot entry financial savings pot (as much as 1.30% AER)
Trustpilot score: 4.6/5 (67,435 critiques)
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 resolution 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, providers or funds to any companies that battle with their Moral Coverage.
You’ll be able to 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 score: 4.5/5 (17,219 critiques)
Allica Financial institution
Allica Financial institution is geared in direction of established companies quite 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 included for a minimum of twelve months.
Nevertheless, for those who 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 an alternative has relationship managers positioned throughout the UK.
Key Options:
- No month-to-month account charges (clients whose steadiness falls beneath a mean of £10,000 within the earlier month will incur a £25 month-to-month payment)
- FSCS protected
- UK-based phone assist
- Market-leading financial savings accounts
- Native relationship supervisor
Trustpilot score: 4.6/5 (1,795 critiques)
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 yr.
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 will likely make the account extra suited to switchers than companies simply beginning out or aspect hustles.
Key Options:
- FSCS protected
- No month-to-month charges if steadiness above £6,000
- Overdraft and mortgage providers
- In-person department assist
- Free invoicing device to assist sole merchants and small companies receives a commission
Trustpilot score: 2.3/5 (5,667 critiques)
Often 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 suggested to maintain enterprise funds separate out of your private funds. It will 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 have to open a enterprise checking account?
To open a enterprise checking account you’ll typically 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 will range between banks, and will depend upon any follow-up questions they should ask as a part of their Know Your Buyer (KYC) and Know Your Enterprise (KYB) checks. Nevertheless, often 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) gives 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 what you are promoting 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 may declare as much as £120,000 to your private account.
If you happen to run what you are promoting as a sole dealer, what you are promoting and private accounts could 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 what you are promoting present account. A present account is used to make and obtain funds, though will possible not earn you any curiosity. A financial savings account is used to retailer surplus funds wanted for funds and earns curiosity. For extra info, see our article: The 8 greatest enterprise financial savings accounts – Small Enterprise UK
