5 Best Online Business Bank Accounts in the UK [2025]

Thinking about opening a business account with an online bank? The right choice can save you time, cut costs, and simplify financial management, all while keeping your money safe and secure.

With so many online and challenger banks in the UK, finding the best fit isn’t always easy. To help, we’ve curated the top 5 online-only business bank accounts for UK businesses, covering features, fees, and eligibility criteria so you can compare your options and make a decision with confidence.

Launched in 2015, Monzo is a leading digital-only challenger bank based in London. The bank offers both personal and business bank accounts, as well as other products like personal credit cards and loans. 

The Monzo Business Account offers essential features for businesses’ day-to-day banking, including free instant UK bank transfers, budgeting tools for tax, accounting software integration, team spending controls, and up to 1.60% AER interest (variable) on savings (Ts&Cs apply). 

Monzo offers three business account plans, each with its own features and pricing.[1]

Other key fees to consider:

• Cash Withdrawals: Free for GBP withdrawals in the UK.
• Cash Deposits: GBP 1 per deposit at any PayPoint or Post Office branch.
• Receiving Payments in Foreign Currency: 1% currency conversion fee (capped at GBP 1,000) for payments converted to pounds. 

To apply for a Monzo Business Account, the applicant must be at least 16 years old and either a sole trader or the director of a UK-registered limited company (Ltd). The company must have active status on Companies House and be a UK tax resident only, with no tax obligations in other countries.[2]

You can open the Monzo Business Account on the website or on the mobile app. If you’re a limited company, Monzo will also verify any people with significant control in your business when you sign up. 

✅ Sole traders looking for a free business account with essential banking tools.

✅ Small businesses operating primarily in the UK that only need a GBP business account.

✅ Business owners managing team expenses who want employees to access funds in the business account while maintaining full control over transactions.

Starling Bank is one of the first online banks in the UK, having received its banking licence from the Prudential Regulation Authority and the Financial Conduct Authority in 2016. The bank has offices in London, Cardiff, Southampton, and Manchester but does not operate physical branches for customers.

The Starling Bank Business Account is a free digital business account with 24/7 support available via app, phone, or email.[3] It includes features such as multi-director access, separate spaces for managing different costs, and debit cards compatible with Apple, Google, Samsung, and Garmin Pay. 

Starling Bank offers a single free business account to sole traders and registered businesses, with optional paid add-ons for additional features.

Other key fees to consider:

• Cash Withdrawals: Free for up to six withdrawals per day, with a daily limit of GBP 300.
• Cash Deposits: 0.7% fee per deposit (minimum GBP 3) at the Post Office.

To open a Starling Bank Business Account, applicants must meet the following requirements:

• Be a Limited Company or LLP registered at Companies House or a Sole Trader (not in a partnership).
• All Persons of Significant Control (PSCs) must be individual UK residents.
• All directors with account access must be UK residents.
• The business must not be a holding company, dissolved, in liquidation, or engaged in prohibited activities.

✅ Businesses with multiple directors needing multi-user access (limited to directors listed at Companies House).

✅ Sole proprietors who want a simple, fee-free account with tax and bookkeeping add-ons.

✅ Businesses that may occasionally need to withdraw cash but don’t rely heavily on cash transactions, as Starling offers free UK ATM withdrawals with limits.

Zempler Bank, formerly known as Cashplus, is a challenger bank and prepaid card operator launched in 2005. It acquired its banking licence in 2021 and rebranded to Zempler Bank in 2024.

The Zempler Bank Business Account is designed to meet the needs of micro-businesses, offering simple and secure online banking with features like cash flow tracking, integrated accounting, and a 1.25% interest-earning savings pot (T&C apply).[4]

Zempler Bank offers three business account plans with different pricing tiers.

Other key fees to consider:

• Cash Withdrawals: Free for Business Extra and Business Pro plans, GBP 2 per withdrawal for Business Go.
• Cash Deposits: GBP 4 minimum fee or 0.55% of the total deposit.
• International Inbound Payments: Up to GBP 22 per transaction.
• Account Balance Limits: GBP 500,000 for Business Go and Business Extra, unlimited for Business Pro.

Zempler Bank accepts applications from limited companies, sole traders, charities, and partnerships. However, businesses with complex company structures or those operating in restricted industries are not eligible to apply.[5]

Limited companies must be UK-based, have an active status at Companies House, and maintain an up-to-date confirmation statement with UK Companies House.

✅ Freelancers and SMEs that only need a basic account for essential banking needs.

✅ Businesses that occasionally deposit cash and are comfortable with the associated fees.

✅ Entrepreneurs and small business owners who prefer a tiered account structure and want to upgrade for additional features as they grow.

Mettle by NatWest is a mobile business bank account designed for the self-employed to manage their business finances. While it is part of the NatWest Group, it operates independently on a separate platform and is not an extension of NatWest’s internet banking service for existing customers.

Designed for the self-employed and small businesses, the Mettle account has no monthly charges or transaction fees and allows users to manage their finances anywhere via the Mettle app. It includes features such as bookkeeping and tax tools, transaction categorisation, customisable invoices, accounting software integration, and 1.26% AER (variable) interest on savings starting from GBP 10.

Mettle offers only one type of account. However, users can opt for Mettle+, a paid add-on that provides additional features to enhance their account.[6]

Other key fees to consider:

• Cash Withdrawals: Not specified
• Cash Deposits: Not specified

UK-based sole traders and limited companies with a balance limit of up to GBP 1 million and a maximum of two owners can apply for a Mettle Business Account. However, only one person can access the account, and both owners must be UK tax residents.

✅ Freelancers, sole traders, and early-stage businesses looking for a fee-free business account to keep finances separate from personal transactions.

✅ Businesses that need built-in tax, bookkeeping, and invoicing tools to simplify financial management.

✅ Businesses looking for a second business account to separate funds, manage expenses, or test FreeAgent’s accounting software without extra costs.

Revolut is a multinational neobank and financial technology company providing financial services to individuals and businesses across multiple countries and regions. In 2024, it received a UK banking licence with restrictions from the Prudential Regulation Authority, meaning its business account is technically still not classified as a full bank account.[7]

The Revolut Business Account stands out for its multi-currency capabilities, allowing users to hold and manage up to 34 currencies, including GBP, EUR, and USD, with an IBAN for seamless international transactions.

Revolut offers 4 business account plans: Basic, Grow, Scale, and Enterprise.[8]

Other key fees to consider:

• Cash Withdrawals: 2% fee per ATM withdrawal
• Cash Deposits: Not specified

Since Revolut operates in multiple regions, eligibility requirements depend on the country where you are applying. In the UK, the general requirements are:

• Your company must be fully incorporated, active, and registered.
• Your company cannot be a charity, operate in the public sector, or act as a cooperative.
• Your company must not operate in unsupported industries.
• Your legal home address must be in the UK, Switzerland, or the EEA.

✅ Businesses dealing with international payments that need access to other currencies and a multi-currency IBAN.

✅ UK companies operating across multiple regions looking for a business account to handle funds to and from various countries.

✅ Ecommerce businesses that need a business API to integrate with software like Xero.

Now that we’ve explored the top online business bank accounts, you might be wondering how they are different from business accounts offered by traditional banks.

In short, online banks take a digital-first approach to banking, offering app-based mobile banking services and customer support instead of physical branches. Here are some key things to know:

1. Deposits are protected: Most online banks hold a full banking licence and are covered under the Financial Services Compensation Scheme (FSCS). FSCS protection ensures eligible deposits up to GBP 85,000 are safeguarded in case of a bank failure.
2. You can switch: Some online banks, like Monzo, Starling Bank, and Zempler Bank, participate in the Current Account Switch Service (CASS), allowing seamless switching to another business current account provider.
3. Business tools and integrations: Some online banks offer accounting software integration, invoicing tools, and expense management features. These may be included in free accounts or available as optional paid services. 

Overall, their online approach, relatively low fees, and integration with technology and software make online banks a great option for SMEs, startups, and new entrepreneurs in the early stages. They can also serve as a second business account to benefit from accounting and financial management tools.

With so many online business accounts available, finding the right one might feel like a challenge. To narrow down your choices, ask yourself the following questions to evaluate your needs:

• How does my business receive and send money?
  If you primarily deal with local transactions, a GBP account is enough. However, if you make international payments, consider a multi-currency account to avoid high conversion fees. If you also handle cash, check whether the account allows for cash withdrawals or deposits and at what cost. Additionally, if your business relies on direct debits or standing orders for recurring payments, ensure the account supports these features.
• What is my expected transaction volume?
  If your business makes frequent payments, choosing an account with higher free limits can help reduce costs.
• Do I need invoicing or accounting integrations?
  If built-in invoicing, accounting tools, or direct integrations with software like Xero or QuickBooks can simplify your operations, look for an account that includes these features.
• Do I need additional banking services?
  If you require credit cards, overdraft facilities, or large business loans, an online bank might not be the best choice. Traditional banks usually offer more lending solutions, whereas most online banks focus on payment and transaction services. Additionally, if you need to deposit cheques, traditional banks typically provide better options for this service.

With the right business account, your business can streamline finances, reduce costs, and manage transactions more efficiently. Whether you need a fee-free account for basic banking, multi-currency support, or advanced business tools, the providers listed offer unique benefits. Make sure to check the fees and eligibility requirements to ensure the account meets your needs at the right cost.