A business bank account is specifically designed for those who are running the finances of their firm, helping to keep on track of business finances in a much more efficient manner than if you were to use a personal bank account.
It is possible to compare a wide range of business bank accounts online, and it is highly recommended that you do so before deciding on which account would be best for you, as it is important to think about what sort of benefits you want most out of this kind of account.
Deciding to switch from using a personal bank account to a business one for all transactions can have a number of advantages. These include:
Whether you run a small or large business, it doesn’t matter: a business bank account can help any company, regardless of its size.
Nevertheless, not all companies will have the exact same needs for their business bank account, and this is why it is important to think about what you will require before comparing accounts. This includes thinking about the type of features you would like from your account.
We aim to be as approachable as possible for our customers, and will always do our very best to assist you with any and all queries you may have concerning any part of our application process and more.
Our online application only takes minutes to complete, with decisions being made very quickly after this. A member of staff will contact you to help you proceed with the final steps.
Each and every one of the providers we work with are fully checked to ensure their reputability, their trustworthiness, and furthermore their competency in helping to provide you with the financial services you require.
The Proper Finance comparison site is free to use and there are no upfront fees for filling in our online application.
Documents you may need include:
It may take less than 10 minutes if done online, but potentially may take longer if the bank requires more documents or needs to run further checks.
Yes. the bank account provider will usually carry out one to determine eligibility.
Nevertheless, Proper Finance can offer a soft check, providing you with a pre-quote based on other financial information. This does not impact your credit score.
Yes, the majority of business bank accounts available will charge either a monthly or annual fee.
Depending on the bank you choose, you could also have to pay a set fee for each time you:
Yes, it is possible, but it is usually only free for a certain period of time after opening the account. Typically, this may be the first two years.
Yes possibly. A number of banks now provide free business bank accounts to small businesses, providing you meet the eligibility criteria. You will need to meet at least two of the following:
Popular options include Xero, QuickBooks and FreeAgent.
Yes, but how you do this depends on the size of the company. If the firm has less than 50 employees, you can use the Current Account Switch Service. Otherwise, larger firms can ask their new bank to arrange this on their behalf.
Yes, most banks will offer a variety of business bank accounts, depending on the type of company you run, such as:
We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs.