ANNA Business Account Review 2025: Pros, Cons & What To Use Instead

ANNA simplifies business admin for UK businesses but isn’t built for cross-border use.

ANNA’s strength lies in simplifying everyday admin—bringing invoicing, receipt matching, and VAT filing together in one place. It’s well-suited for sole traders and small business owners looking to manage payments and taxes without extra tools. The 24/7 in-app support with a response guarantee adds to its appeal.

But it’s not built for cross-border businesses. You can’t hold foreign currencies, fees stack up on the free plan, and only UK residents are eligible. For local operations with basic needs, ANNA is efficient and practical. For anything more complex, there are better options out there.

Key Highlights

• GBP payments: Send and receive local transfers via Faster Payments and CHAPS.
• Built-in admin tools: Create invoices, capture receipts, and file VAT from one dashboard.
• +Taxes add-on: Handle payroll and Corporation Tax without extra software (£24/month + VAT).
• Business debit cards: Earn 1% cashback and control spending across your team.
• Integrations: Sync with Xero, Sage, Shopify, WooCommerce, and more.
• Quick setup: Apply online and get approved in as little as 10 minutes.

ANNA offers a business account built around simplifying admin for UK-based sole traders and small companies. The account supports local GBP transactions and includes features that combine payment management with light bookkeeping.

You can make and receive UK payments via Faster Payments and CHAPS, and international transfers are available in GBP, EUR, and USD. However, you can’t hold foreign balances, which makes ANNA better suited for domestic operations rather than cross-border businesses.

ANNA stands out in its admin tools. Invoicing, receipt capture, VAT returns, and expense tracking are all built into the account, reducing the need for separate software. The optional +Taxes add-on (£24/month + VAT) also covers payroll and Corporation Tax filing—useful for businesses without an in-house accountant.

ANNA integrates with accounting software and ecommerce platforms like Xero, Sage, Shopify, and WooCommerce, which helps streamline sales tracking and bookkeeping. Debit cards come with 1% cashback and team controls, though card FX fees aren’t clearly listed, which may be a concern for businesses spending abroad.

Here’s a quick look at the different types of business accounts ANNA offers.

• Pay As You Go: Free to open and maintain the account, but comes with a 0.95% commission on incoming transfers and fees for most features. Best for businesses with low transaction volumes that just need a basic account to get started.
• Business Plan (£14.90/month + VAT): Includes 50 free local transfers per month, 5 free debit cards, and reduced fees on cash deposits and payment links. A more balanced option for growing businesses that want to control admin costs without losing access to core features.
• Big Business Plan (£49.90/month + VAT): Offers unlimited local transfers and debit cards, lower FX fees, and more free international transfers. Best suited to established businesses with higher volumes of payments and more team members needing card access.

Our Verdict: 7/10

ANNA is well-suited for UK-based businesses with straightforward financial needs. The tools are genuinely helpful for managing admin, but if your business deals with global clients or you require more advanced features, the limitations become clear.

All three offer similar core features, but the difference lies in how much you get included for free and what you’re charged extra for.

There’s no fee to open an account, which is quite standard among fintechs. But depending on how often you send payments, deposit cash, or use features like pots and cards, the monthly cost can add up—especially if you stick with the free plan.

Here’s a quick look at what each plan offers.

Other Fees You Should Consider:

• Pots: Unlimited free (Pay As You Go); 4 free pots, then £1 per pot/month (Business); Unlimited free (Big Business)
• Cash deposits: 0.95% commission (Pay As You Go); 1% commission after £300/month (Business); Free (Big Business)
• Payment links: 0.95% commission (Pay As You Go); 0.5% commission after £200/month (Business); Free (Big Business)
• XLS VAT filing: £3.50 + VAT per submission (applies to all plans)
• International card fees: Not clearly disclosed – best to confirm directly with ANNA

Do note that the pricing structure is subject to change. Please refer to ANNA’s pricing page for up-to-date information.

Our Verdict: 7.5/10

ANNA’s pricing works well if you choose the right plan. The free option seems appealing, but the 0.95% commission on incoming payments adds up fast. For businesses that move money regularly, the Business and Big Business plans make more sense, offering better cost control as usage grows. The main drawback is the lack of clarity around international card fees. However, for UK-based businesses working mostly in GBP, the pricing remains competitive. You need to make sure the plan matches your usage.

ANNA offers 24/7 in-app support with a guaranteed response time of under 10 minutes — and they’ll refund your monthly fee if they miss it. It’s a practical setup for businesses that prefer quick answers without needing to call.

You can also browse their Help Centre for quick answers or reach out by email:

• General enquiries: hello@anna.money
• Customer support: support@anna.money
• Security: security@anna.money

Our Verdict: 9/10

ANNA’s support is fast, accessible, and well-suited to a digital-first experience. The 24/7 in-app chat with a 10-minute response guarantee stands out, and the refund policy adds a level of accountability I don’t often see. The only thing missing is phone support. It's probably not a big deal for most, but it's worth noting if that’s something you prefer.

Let’s break this down into two parts: what you need to qualify, and how the application process works. Both affect how easy it is to open an account and ultimately affect the score I’ll give.

To open a business account with ANNA, you must:

• Be a UK resident with a UK residential address
• Be at least 18 years old
• Run a UK-based business as a sole trader, limited company, or LLP

ANNA doesn’t support charities or businesses in restricted industries like gambling, adult entertainment, cannabinoids, or precious metals.

Required documents vary by business type. In general, you’ll need:

• Valid ID (passport or UK driver’s licence)
• Proof of address (e.g. utility bill or bank statement dated within 3 months)
• Business documents such as UTR letter from HMRC (for sole traders), Companies House registration number (for limited companies and LLPs), and Partnership agreement or solicitor letter (for partnerships)

Some sectors may require additional details, such as a business website, social media profiles, or contracts. ANNA may follow up after account approval to request further business evidence.

How to Apply

The application process is fully online through ANNA’s app or the website and takes around 10 minutes. You can apply and upload your documents directly through ANNA’s website or mobile app. Once approved, your ANNA Mastercard® is typically delivered within 5 working days.

Verdict: 8.5/10

The setup process is fast and straightforward, but ANNA only accepts UK residents, so it’s not an option if you’re based overseas. That limitation makes it less relevant for international or cross-border businesses. Still, for UK-based applicants, the experience is simple and efficient.

Trustpilot: 4.2/5 (based on 3,731 reviews)

ANNA receives high marks for fast support, user-friendly tools, and features that simplify business admin—especially for sole traders and startups. Many ANNA customers mention how quickly the team responds via in-app chat and how easy the setup process is.

However, there are recurring concerns around frozen accounts, delayed payments, and requests for extra documentation—usually due to regulatory checks. These can be frustrating, but they’re not specific to ANNA. Similar experiences are common across the industry, as both banks and fintechs must follow strict anti-money laundering rules.

For UK-based businesses with simple needs, the positives generally outweigh the occasional compliance-related friction.

Founded in 2019, Statrys is a licensed payment service provider in Hong Kong, offering business accounts tailored to businesses registered in Hong Kong, Singapore and the British Virgin Islands.

With Statrys, you can hold funds in up to 11 major currencies and make local payments in 12 currencies, including USD, AUD, GBP, EUR, and SGD. You also get access to forward contracts with competitive rates based on real-time mid-market rates—ideal for managing FX costs and reducing risk.

In addition, Statrys supports team spending with customisable prepaid cards and spending controls, plus direct integration with Xero to streamline bookkeeping.

Every Statrys business account comes with a dedicated account manager who ensures personalised support whenever you need it.