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Card One Money Business Account Review

Card One Money offer business bank accounts with no credit check and a quick sign up process. They have 2 accounts on offer for businesses with less then £2million revenue and larger corporates. Click below to find out more or apply online.

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Make and Receive International Payments

Card One Money Business Account

  • Monthly Fee
    £12.50
    Plus one-off £55 application fee
  • Card Purchases
    Free
  • Bank Transfers
    From 30p

    • Direct Debits: 30p

    • Faster Payments (next day online): 30p

    • Faster Payments (instant online): £7.50

    • CHAPS: £30

  • Overdraft
  • Access
    App/Online
    Pay in cash and cheques via Barclays branches
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More Info
Product Features
  • No credit checks or signatures required
  • Up to 4 additional cards for business use
  • UK-based customer support.
  • International payments in a range of currencies
Eligibility Criteria
  • Available to Limited Companies, Sole Traders and Partnerships
  • Your business must be registered in the UK and have an annual turnover of less than £2m
  • You must be 18+ and a UK resident. Card One Money need to be able to verify your identity & residency.
  • Card One Money is not covered by the Financial Services Compensation Scheme. See product FAQs for more info
Open an account on the same day you apply with no credit checks.

Card One Money Business Bank Accounts Overview

Card One Money, established in 2007 as Spectrum Payment Services Limited, is a UK-based financial services provider focusing on convenience and control, particularly for applicants who might struggle with credit checks required by other banks. It offers personal and business bank accounts, and since 2017, it has been part of the Equals Group PLC portfolio. As of now, Card One Money operates over 600,000 personal accounts and 24,000 business customer accounts.

The business bank accounts offered by Card One Money are tailored for small and medium enterprises, including sole traders, partnerships, and limited companies. They provide two types of business accounts: a standard business account for those with a turnover of less than £2 million and a corporate account for turnovers exceeding £2 million.

Card One Money is authorized by the Financial Conduct Authority (FCA) as a regulated payment institution. While not covered by the Financial Services Compensation Scheme (FSCS), customer funds are safeguarded in ring-fenced accounts at major UK banks.

Card One Money provides customer service via email, live online chat, or phone, with extended support hours on weekdays and availability on Saturdays. Trustpilot reviews rate their customer service highly for its efficiency and responsiveness.

Card One Money offers a convenient banking solution for small and medium businesses, especially those seeking quick account setup without credit checks. While it offers benefits like a cashback rewards program, it also comes with various fees and charges that potential customers should consider. 

Card one Money Accounts FAQs

  • What are the benefits of a Card One Money business account?

    Card One Money business accounts can be managed online, via a mobile app, or over the phone. Accounts may be opened on the same day as application. Additional business Mastercards can be attached to the account, each with different levels of access. Despite being an online-only provider, cash and cheques can be deposited at Barclays branches.

  • Are there any limitations to Card One Money business accounts?

    Yes, there is a minimum monthly fee and a one-off application fee for small businesses. Deposits are not protected by the FSCS, and there is no face-to-face support as Card One Money has no branches. Additionally, credit facilities like overdrafts, credit cards, or business loans are not available.

  • What are the eligibility criteria for opening a Card One Money business account?

    Eligibility requires being over 18 years old, residing in the UK, and running a UK-registered business (sole trader, limited company, or business partnership). Your annual turnover should be less than £2 million for a Business account or over £2 million for a Corporate account. Prohibited industries include weaponry, unlicensed gambling, or illegal goods and services. Card One Money does not conduct credit checks on applicants but requires passing identity and residency checks.

  • How can I open a Card One Money business account?

    To open an account, apply online and pay the application fee. Submit proof of ID and address, such as a passport, driving licence, utility bill, bank or credit card statement, or council tax statement. Approval may occur on the same day as the application, as Card One Money does not conduct credit checks.

    Services offered by this provider may change over time. Always check Ts&Cs.

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