- Last updated April 2024
Best Business Bank Accounts Of April 2024
Compare top business bank accounts
✓ No monthly fees or charges
✓ Easy tax preparation
✓ Asset protection
What account do you want?
9.7
Tide
Best for earning cashback
Earn 0.50% cashback with debit
- Free business Mastercard debit
- Fast 24/7 customer support
- Integrations with QuickBooks, Xero, Sage, & more
Used by 450,000+ business owners
Best for earning cashback
Earn 0.50% cashback with debit
- Used by 450,000+ business owners
9.5
GoSolo
Best for registering a new business
Free company formation
- No monthly fees or initiation fees
- £15,000+ in partner perks
- Integrate directly with Xero
9.4
Revolut
Best for exchanging currencies
Exchange money in 28+ currencies
- Support GBP & EUR in one account
- No monthly fees or overdraft fees
- Accept credit card payments
8.7
Intergiro
Best for financial automations
Create unlimited digital cards
- Automate payroll, accounting, & more
- Automatic invoice creation and collection
- Convert 8+ currencies for free
8.2
Anna
Best for tax calculations & estimates
Automatic HMRC compliance
- Zero monthly fees or minimum deposit
- Instant virtual card access upon approval
- Automatically sorts & categorizes expenses
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
250,000+ people
have chosen a new account using SmartWealthTrends!
SmartScore
The SmartScore consists of a combination of the following 2 components:
SmartWealthTrends uses community feedback as one of the components to determine the quality of a service or product that is ranked on our lists.
SmartWealthTrends uses our individual analysis on the various products and services we review to determine how helpful they are to potential new users.
Our Top Choice
Most Popular Business Account
9.8
Tide
Best for earning cashback
Earn 0.50% cashback with debit
- Free business Mastercard debit
- Fast 24/7 customer support
- Integrations with QuickBooks, Xero, Sage, & more
Why Should You Open Business Bank Account?
There are a number of reasons why you should open a business bank account. Perhaps the most important reason is to separate your personal finances from your business finances. This will help you track your business expenses and income more easily, and it will also make it easier to file your taxes. A business bank account can also help you build your business credit history.
A business bank account can help you manage your finances more efficiently and can also make it easier to obtain a loan or credit in the future. It can also help you protect your personal assets in the event of a lawsuit. Opening a business bank account is a simple process, and there are a number of banks that offer business banking services.
Top 5 Benefits Of A Business Bank Account
Easier Expense Tracking: One of the best ways to save money within your business is by tracking your expenses. This can be difficult and time-consuming, but it's worth it in the long run when the tax season comes around. With a business checking account, you can easily track your expenses so that you always know where your money is going. This way, you can ensure you're staying up to date with the business's books and not mixing personal expenses into these transactions.
Increased Business Credibility: When you have a business checking account, it shows you're serious about your business. This can help you build credibility with potential customers and clients since any checks and invoices will be made to the company name, not your personal one.
Build Business Credit: One of the best ways to build business credit is by using a business checking account. This is because when you use this type of account, your payments will be reported to the major credit bureaus. This way, you can establish a good payment history and improve your credit score. This will come in handy if you ever need to take out a business loan or line of credit.
Accept Credit Cards: In today's world, it's crucial to be able to accept credit cards as payment. This is because more and more people are using this method of payment, and if you're not able to accept it, you could be missing out on sales. With a business checking account, you can easily set up a merchant account so that you can start accepting credit cards. This will help you increase your sales and customer base.
Audit Protection: Businesses are always at risk of being audited by the HMRC. This can be stressful and costly, but with a business checking account, you can have peace of mind knowing that your transactions are well-documented and organized. This way, if you are ever audited, you'll have everything you need to prove your expenses and deductions.
