Business Bank Accounts

Open a dedicated business account to manage your finances with clarity and control

What Is a Business Bank Account?

A business bank account is a current account specifically designed for companies, sole traders, partnerships, and limited businesses. It allows you to separate personal and business finances, manage income and expenses professionally, and access banking features tailored to your company’s needs.

Whether you’re launching a new business or switching providers, having the right business account is essential for smooth operations, tax compliance, and financial visibility.

At The Funding Group, we help startups, SMEs, and established firms find and open the best business bank accounts in the UK — quickly, easily, and with minimal paperwork.

Types of Business Bank Accounts

There are a variety of account types available to suit different business sizes and industries:

Startup Business Bank Accounts

  • Designed for new businesses or sole traders

  • Often offer free banking for the first 12–24 months

SME Business Accounts

  • Tailored for small to medium enterprises

  • Includes features like overdrafts, expense tracking, and digital tools

Business Savings Accounts

  • Earn interest on surplus cash

  • Ideal for planning tax payments or building cash reserves

Multi-Currency Business Accounts

  • Hold and send payments in GBP, EUR, USD and more

  • Great for import/export businesses and international trade

Digital-Only Accounts

  • App-based banking with instant payments, invoicing, and real-time tracking

  • Fast setup with no physical branches required

High Street Business Accounts

  • Traditional banking with in-branch services and dedicated account managers

  • Suited for businesses with complex or high-volume banking needs

Typical Terms & Key Features

  • Free banking periods: Often 12–24 months for new customers

  • Monthly fees: Range from £0–£20 depending on provider and features

  • Online & mobile banking: Full visibility and control

  • Overdraft facilities: Subject to approval, can support short-term cash flow

  • Debit cards & payments: For staff or director use

  • Accounting integrations: Connect with platforms like Xero, QuickBooks & Sage

We help you compare the latest features, fees, and benefits across top UK banks and fintech providers.

Who Needs a Business Bank Account?

You may need or benefit from a business bank account if:

  • You are a limited company or registered partnership (legal requirement)

  • You are a sole trader looking to manage business finances separately

  • You want professional payment handling (invoicing, payroll, etc.)

  • You need staff access, overdrafts, or international payment options

  • You are seeking business finance or credit facilities in the future

  • You want better expense tracking, budgeting, and cash flow insights

Having a dedicated business account enhances your credibility with clients, investors, and HMRC.

Benefits of a Business Bank Account

  • Keep personal and business finances separate

  • Simplify tax returns and accounting

  • Access tailored business tools and support

  • Build your business credit profile

  • Apply for loans, credit cards, or overdrafts more easily

  • Enable professional invoicing and faster payments

  • Improve your company’s financial organisation and cash flow visibility

Whether you're just starting out or scaling up, the right bank account can be the foundation of your financial success.

Need Help Opening a Business Bank Account?

At The Funding Group, we make it easy to open the ideal business account for your needs. From digital-only options to full-service commercial banking, we’ll guide you through the process, compare the best providers, and ensure you get up and running fast.

Get in touch today to compare accounts and start your application. quote.