Corporate BUSINESS Bank Accounts
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Your one stop authority on business bank accounts for SMEs to large corporates.
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Promoted Accounts – April 2024
Allica Bank Business Current Account
4.33% AER Interest on Savings. Must be trading for 12 months
International Payments
Airwallex Business Account
Global transfers, multi-currency cards and market-beating FX – all in one place.
Great for International Transfers
Revolut Grow Business Account
Small Businesses and Sole Traders
Best Corporate Bank Accounts
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Monthly Fee
Free -
Card Purchases
Free -
Bank Transfers
FreeFees apply CHAPS, SWIFT and SEPA transactions. -
Overdraft
-
Access Methods
App/Online
Product Features
- 4.33% AER* (variable) instant access Savings Pot. Savings Pots are an exclusive feature of the Business Rewards Account
- Up to 1.5% cashback on eligible card spend. View Business Rewards Account Terms and Conditions on Allica bank website
- UK based dedicated relationship manager
- FSCS covered up to £85,000
- Direct accounting integrations with Sage and Xero
Eligibility Criteria
- Business must be trading for at least 12 months
- Business must have estimated turnover of £500+ or at least 5 employees
Business must be trading for 12 months and have estimated turnover £500k+ or at least 5 employees. *View Business Rewards Account T&Cs on Allica bank website.
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Monthly Fee
Contact Revolut -
Card Purchases
Free -
Bank Transfers
Contact Revolut -
Overdraft
-
Access Methods
App/OnlineNo cash or cheque facilities
Product Features
- Multi-currency accounts – recieve payments and exchange in 25+ currencies
- Control and monitor team spending with multiple debit and virtual cards, manage permissions and levels of access and more
- Various payment facilities including Tap to Pay on iPhone (fees apply)
- Earn annual interest daily with a linked business savings account
- Tailored for larger businesses
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
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Monthly Fee
£19 per month -
Card Purchases
Free -
Bank Transfers
100 free per month- 100 free local transfers per month, then 20p thereafter
- International transfers: £5
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Overdraft
-
Access Methods
App/OnlineNo cash or cheque facilities
Product Features
- Multi-currency accounts – recieve payments and exchange in 25+ currencies
- Control and monitor team spending with multiple debit and virtual cards, manage permissions and levels of access and more
- Various payment facilities including Tap to Pay on iPhone (fees apply)
- Earn annual interest daily with a linked business savings account
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
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Monthly Fee
£79 per month -
Card Purchases
Free -
Bank Transfers
1000 free per month- 1000 free local transfers per month, then 20p thereafter
- International transfers: £5
-
Overdraft
-
Access Methods
App/OnlineNo cash or cheque facilities
Product Features
- Multi-currency accounts – recieve payments and exchange in 25+ currencies
- Control and monitor team spending with multiple debit and virtual cards, manage permissions and levels of access and more
- Various payment facilities including Tap to Pay on iPhone (fees apply)
- Earn annual interest daily with a linked business savings account
- 2 complimentary metal cards
Eligibility Criteria
- Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
- Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
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Monthly Fee
£49.99 -
Card Purchases
Free -
Bank Transfers
FreeUnlimited free bank transfers -
Overdraft
-
Access Methods
App/Online- No cheque facilities
- Cash deposits via Post Office (0.5% fee, minimum £2.50) and PayPoint (3% fee)
Product Features
- Create and send invoices for free
- 3 free expense cards included
- 0.5% cashback on Tide card spend (T&Cs apply)
Eligibility Criteria
- For registered business account: you must be registered with UK Companies House as a director of that company or partnership
- For sole trader account: you must be a UK based sole trader/freelancer
- For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold compatible device registered to a UK App or Google Play store
Dedicated team of account managers
3 FREE Expense Cards for co-workers
Unlimited transfers per month
3 FREE Expense Cards for co-workers
Unlimited transfers per month
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Monthly Fee
Free -
Card Purchases
Free -
Bank Transfers
FreeSWIFT payments vary £10-£20 -
Overdraft
-
Access Methods
App/Online
Product Features
- Open domestic and foreign currency accounts with local bank details around the world with no monthly fees within minutes.
- Make international transfers to 150+ countries – save up to 80% on FX fees, app. 70% of funds arrive within a few hours / same day
- Accept payments worldwide via 160+ payment methods – no coding required
- Issue multi currency corporate cards
- Integrates with platforms like Xero, Amazon, Shopify, WooCommerce & more
- Automate your domestic and international bill pay workflows
Eligibility Criteria
- You must be at least 18 years old
- Be a sole trader, partner in a partnership, or company
- Your business is registered in the UK. More markets are available with different Airwallex entities. Details can be found on the Airwallex website.
*10% cashback on your first $1,000 USD equivalent in eligible international card spend.
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Monthly Fee
£49.90
£49.90 + VAT per month
Or £499 a year +VAT if billed annually
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Card Purchases
Free -
Bank Transfers
From free- Domestic: unlimited free transfers
- International: 4 free SWIFT payments per month, then £5 per payment
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Overdraft
-
Access Methods
App/Online- No cheque facilities
- Cash accepted via PayPoint with no fees
Product Features
- Unlimited free debit cards – 1% cashback on selected categories
- Personal payment link for accepting payments online with no fees
- Instant invoice generator and savings pots facility
- Landlords / property investors get a free 12 month subscription to the National Residential Landlords Association (NRLA)
- FastTrack to Credit – Boost your credit score and get access to credit after 3 months activity
Eligibility Criteria
- Must be a Sole Trader, Director of a Limited Company (and listed on Companies House), or a Partner in a Limited Liability Partnership
- Business must be located within the UK and you also need to have a UK residential address
- Not available to charities
ANNA Business comes with invoice generator tools, HMRC recognized Tax calculator and filing. Automate your bookkeeping with ANNA.
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Monthly Fee
Free -
Card Purchases
Free -
Bank Transfers
20p -
Overdraft
-
Access Methods
App/Online- No cheque facilities
- Cash deposits via Post Office (0.5% fee, minimum £2.50) and PayPoint (3% fee)
Product Features
- Create and send invoices for free
- Multi-business – hold up to 5 business accounts
- Automated 30-day cash flow forecasts
Eligibility Criteria
- For registered business account: you must be registered with UK Companies House as a director of that company or partnership
- For sole trader account: you must be a UK based sole trader/freelancer
- For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold compatible device registered to a UK App or Google Play store
* Spend £100 within 30 days of opening an account to qualify for cashback.
Earn up to 4.33% AER (variable) with the Tide Instant Saver Account (interest paid monthly).
Award-winning business account
Earn up to 4.33% AER (variable) with the Tide Instant Saver Account (interest paid monthly).
Award-winning business account
Refine Your Search
- Freelancer Bank Accounts
- Best Business Bank Accounts
- Free Business Bank Accounts
- Joint Business Bank Accounts
- Small Business Bank Accounts
- Sole Trader Business Bank Accounts
- Multi Director Access Business Accounts
- No Credit Check Bank Accounts
- Switcher Business Bank Accounts
- Online Business Bank Accounts
- Bad Credit Business Bank Accounts
- Corporate Business Bank Accounts
- Self Employed Business Bank Accounts
- Start Up Business Bank Accounts
- International Business Bank Accounts
How to compare business bank accounts…
Step One
Understand your requirements
How you do business will effect the type of account you need. How many transactions will you have each month? Do you need to pay in cash? Do you need a local branch?
Step Two
Check eligibility
Most providers have a range of business accounts to suit different types of businesses. Check the eligibility of each account to make sure if suited to your business.
Step Three
Compare the latest deals and offer
There are numerous offers and deals to attract new customers which can be compared with our handy tool above. Always consider the cost of the account once the free period ends
Corporate Business Bank Accounts Guide
Navigating the complexities of corporate business banking requires a clear understanding of unique needs, the demand for specialised services, and the intricacies associated with larger business operations. For established enterprises and growing corporations in the UK, having the right banking partner can be key. This guide offers an overview of corporate business bank accounts tailored for larger businesses in the UK.
1. The Essence of Corporate Banking
Unlike standard business bank accounts tailored for small businesses or sole traders, corporate accounts cater to the advanced needs of more significant entities. These can range from the multinational operations to larger local enterprises. They accommodate higher transaction volumes, international operations, and a suite of tailored banking solutions.
2. Why Opt for a Specialised Corporate Account?
- Volume Handling: Corporate accounts are designed to manage large volumes of transactions efficiently.
- Tailored Services: From specialised credit facilities to bespoke payment solutions, corporate accounts usually offer tailored banking solutions.
- Dedicated Support: Given the complexity and volume of transactions, many banks offer dedicated account managers for corporate accounts.
3. Key Features to Prioritise
- International Capabilities: For businesses operating on a global scale, the ability to handle multiple currencies and international transactions seamlessly is essential.
- Advanced Digital Solutions: Ensure the bank provides state-of-the-art online and mobile banking solutions, facilitating real-time financial management, bulk payment authorisations, and integrations with corporate finance systems.
- Credit and Financing: Look for banks that offer favourable credit terms, tailored financing solutions, and specialist advice on capital markets.
- Risk Management Tools: Given the scale of operations, tools to manage risks like foreign exchange exposure can be invaluable.
4. The Fee Structure
While corporate accounts offer a multitude of features, they often come with a different fee structure:
- Transaction Fees: Understand the costs associated with high-volume transactions, both domestic and international. Read our article on understanding business banking fees for further information.
- Service Fees: This could include charges for account maintenance, accessing specialised services, or even the support of a dedicated account manager.
- Custom Arrangements: Given the size and scale of corporate operations, some banks may be open to negotiating custom fee arrangements.
5. Seamless Integrations
For efficient operations, the bank account should integrate seamlessly with:
- Accounting Software: To ensure real-time financial updates and reporting.
- Payment Gateways: If your business operates online, seamless integration with payment gateways is essential.
- ERP Systems: Larger businesses often rely on advanced ERP systems, and banking integration can streamline financial processes.
6. Security and Compliance
Given the scale of transactions and financial operations:
- Top-Tier Security: Opt for banks that prioritise state-of-the-art security measures, including encrypted communications, fraud detection mechanisms, and two-factor authentication.
- Regulatory Compliance: Ensure the bank is well-versed in the regulatory environment pertinent to your industry and can provide guidance or solutions to ensure compliance.
7. Making the Right Choice
- Industry Specialisation: Some banks have expertise in specific sectors. If available, an industry-specific corporate account can be beneficial.
- Bank Reputation: A well-established bank with a robust reputation can offer reliability, stability, and better global reach.
- Feedback and Reviews: Seek feedback from businesses of similar size or in the same industry to gauge the quality of service and support.
For larger businesses in the UK, a corporate business bank account isn’t just a financial tool; it’s a strategic partnership. It’s important to select a banking partner that understands the scale, complexity, and nuances of corporate operations. By focusing on tailored solutions, advanced integrations, and robust support, large businesses can ensure that their banking operations are not just seamless but also contribute to their strategic growth ambitions.