Business Banking for UK Residents
Open a business account and manage your company finances.
In this article, we will cover:
- Banking options available for UK residents
- How to add a business banking referral when forming a company
- How to request a banking referral after your company has been formed
Banking options available for UK residents
We offer a range of business banking referral options for UK residents. Each option has its own features, eligibility criteria, and application process, so it is important to choose the one that best suits your business needs.
To help you compare the available options, we have provided a table below outlining the key details for each banking referral. This should help you identify which provider may be the most suitable for your company.
| Monthly fee | UK bank transfers | Card purchases | Overdraft | Account access | Multi-director access | FCSC deposit protection | |
| Barclays | Free First 12 months |
Free | Free | ✓ | App, Online, Branch | ✓ | ✓ |
| NatWest | Free | Free First 2 years |
Free First 2 years |
✓ | App, Online, Branch | ✓ | ✓ |
| Monzo | Free | Free First 2 years |
Free First 2 years |
✖ | App, Online | ✖ | ✓ |
| Lloyds Bank | Free First 12 months |
20p First 100 free |
Free GBP only |
✓ | App, Online, Branch | ✓ | ✓ |
| ANNA | Free | 20p First 100 free |
Free | ✖ | App, Online | ✓ | ✖ |
| Zempler Bank | Free | 30p | Free | ✓ | App, Online | ✓ | ✓ |
| Tide | Free | 20p | Free | ✖ | App, Online | ✖ | ✓ |
| Starling Bank | Free | Free | Free | ✖ | App | ✓ | ✓ |
How to add a business banking referral when forming a company
When applying for any of our company formation packages, except the Limited by Guarantee package, you will be given the option to select your preferred banking referral during the application process.
Once your company has been formed, your chosen banking provider will contact you directly with the next steps for opening your account.
How to request a banking referral after your company is formed
To add a banking referral, log in to your dashboard and select the My Companies tile. Then, click on the company you wish to add the referral for and open the Getting Started tab.
Here, you will see the banking referrals available for your company. Simply select the option you would like to add, proceed to checkout, and complete your order.
Once this has been completed, the bank will contact you directly via email within around three working days.
⚠️ Terms and conditions apply and vary by provider. Availability may change. Information is correct at time of publication and subject to updates. We may receive a commission if you choose one of these accounts through our service.