Compare our business bank accounts...
Which business bank account is best for me?
Choosing the right business bank account can make a world of difference. The following table sets out the two main types of business bank accounts we can offer you.
Interest paid on credit balances
Next steps...
- Apply for Business Direct
- Apply for Business Current Account
Call 0800 731 8904
- Request a call back
Textphone 18001 0800 028 3516
| Description | What this means for you | Business Direct | Business Current Account (Small Business Tariff) |
|---|---|---|---|
| Introductory Free Business Banking Offers? | Start Ups and Switchers Introductory Free Business Banking Offers (depending on turnover) | Yes | Yes |
| Annual Turnover | What the maximum annual turnover limit is per business account | Below £500,000 | Below £1,000,000 |
| Bank/Paper Statements | How often are they sent out | Quarterly | Monthly |
| Account Maintenance Fee | A monthly charge applied only when there has been activity on the account | Free | £3.15 per month |
| Automated Credits | An electronic credit paid into your account | Free | 18p per credit |
| Bill Payments | A payment which is debited to your account via a branch or telephone banking service and credited to a beneficiary | Free | 32p per payment |
| Branch Credits | Credits paid in over branch counter (containing cash/cheque activity) |
N/A | 74p per credit |
| Branch Cash In | Additional charge for cash paid in at branch | 2% of value deposited | 53p per £100 |
| Branch Cheque Collected | Additional charge for cheques paid in at branch | 20 free per month, then 75p per cheque |
28p per cheque |
| Branch Counter Withdrawal | Cash withdrawn over the counter, i.e., when cashing a cheque | 2% of value withdrawn | 63p per withdrawal |
| Branch Cash Out | Charge (in addition to Branch Counter Withdrawal charge for current account customers) for cash withdrawn over branch counter | N/A | 68p per £100 |
| Cash Machine Withdrawal | Charge for debit associated with a cash machine withdrawal, i.e., one debit per withdrawal | Up to £1,000 free per month, then 2% of value withdrawn | 23p per withdrawal |
| Cash Machine Out | Charge (in addition to Cash Machine Withdrawal charge for current account customers) for cash amount withdrawn from cash machine | N/A | 42p per £100 |
| Cheque Paid | Cheques written | 20 free per month, then £1 per cheque |
63p per cheque |
| Internet Bill Payment DR/CR | A bill paid through Business Internet Banking | Free | 21p per payment |
| Standing Orders | Standing Order paid from your account | Free | 54p per debit |
| Direct Debits | Direct Debits paid from or returned to your account | Free | 32p per debit / credit |
| Debit Card | Debit to the account following a debit card transaction | Free | 23p per debit |
| Other | Debits applied to your account | Free | 32p per debit |
