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Award-Winning Excellence
Tide: Highly Commended for The Best Business Banking Provider Award
Tide has been recognised as the top choice for business banking for years. With its innovative solutions and unmatched customer satisfaction, Tide continues to help businesses thrive.
You also get £25 free when you open a Tide account!
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Customer Satisfaction*
*Based on over 20,000 reviews, with 71% awarding 5 stars for exceptional business banking services.
Smart Banking Decisions Made Easy
How to Choose the Best Business Bank Account
Not all business bank accounts are created equal. Here are the key features to consider when making the right choice for your business.
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Fast, Easy & Simple—Here’s How To Get Started
In just three quick steps, you’ll find the best business bank account tailored to your needs. No hassle, no wasted time—just smart financial decisions.
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Answer a few simple questions about your business—it only takes a minute.
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Why Compare With Us?
Streamlined Comparisons, Tailored for You
We personalise the process so you see only the best accounts for your business, making your decision faster and easier.
Tailored to Your Needs
Our platform filters out irrelevant accounts, showing you only the options that suit your business size, type, and goals.
Quick and Hassle-Free
Say goodbye to time-consuming searches—find the perfect account in just a few clicks.
Transparent and Reliable
Compare trusted providers side by side with clear details, so you can make a confident decision.
TESTIMONIALS
What Business Owners Say About Us
Dr Alex Carter
Dentist
“The comparison process was seamless. I found the perfect account in minutes. Highly recommended!”
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Accountant
“I couldn’t believe how easy it was. The tailored results saved me so much time. Fantastic service!”
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Catering
“Exactly what I needed. The platform is clear, simple, and incredibly effective. Saved me heaps of time!”
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FAQs
Frequently Asked Questions
A business bank account is designed to help businesses manage their finances separately from personal accounts. It simplifies tasks like tax returns, expense tracking, and cash flow management, while also providing clear statements that can support business growth plans.
While not legally required for most businesses, having a business bank account is highly recommended. It keeps personal and business finances separate, simplifies accounting, and enhances your credibility with clients and suppliers. Many accounts offer tailored features like overdrafts and software integration to save time and improve financial management.
For limited companies, a business bank account is legally required, as company finances must remain separate to avoid penalties from HMRC. Without one, you risk errors in tax reporting or fines.
- To open a business bank account in the UK, you’ll generally need:
- Proof of identity: Passport, driver’s licence, or national ID.
- Proof of address: Utility bills, bank statements, or official letters with your name and address.
- Business documentation: Registration certificate, partnership agreement, or articles of association.
- Financial details: Information about your personal and business income, assets, and liabilities.
Some banks may request additional documents during the application process, but they’ll guide you through what’s needed.
- Switching your business bank account is simpler than you think, especially with the Current Account Switch Service (CASS). This free service lets you move accounts between participating banks in just seven working days, with the peace of mind provided by the Current Account Switch Guarantee.
Steps to switch:
- Research and compare business accounts to find one that meets your needs.
- Apply for a new account and inform the bank you’ll use the CASS.
- The new bank will coordinate with your old bank to transfer everything.
Many banks offer switching incentives, so it’s worth shopping around for the best deal. Before switching, ensure the new account has all the features and benefits your business requires.
- Business bank accounts offer a range of features, many similar to personal accounts but tailored for business needs. Key features include:
- Overdraft Facility: Helps manage cash flow during tight periods.
- Business Debit Card: Simplifies expense tracking and reduces admin.
- Deposit Protection: FSCS coverage up to £85,000 ensures your money is safe.
- Switch Guarantee: Easily transfer your balance and direct debits to a new account provider.
Specific features vary between banks, so it’s worth comparing options to find what works best for your business.
- Before deciding on a business bank account, consider the benefits and potential drawbacks:
Advantages:
- Keeps business and personal finances separate for easier management.
- Reduces personal legal liability by maintaining clear financial boundaries.
- Builds a business credit rating, useful for securing loans.
Disadvantages:
- May come with account fees.
- Adds additional administration alongside your personal account.
- Typically doesn’t offer interest on in-credit balances.
Weigh these factors to decide if a business account is right for your needs.