We're accepting online Business bank account applications from sole-director limited companies. Applying for an account will take just 15 minutes.
We have had a high volume of applications and have reached our limit for today. Please come back at 10am, when applications will open again.
We’re sorry that we can’t take online applications from multi-director companies or sole traders at the moment.
Your Local Business Manager can help support your business. Visit them in person, send them an email or give them a call.
Keep your balance at £5,000 or more for the whole month and we'll waive your monthly fee. More about account fees.
Get your account up and running in 15 minutes. Applying is easy and works great on your mobile phone.
We like to be upfront with you. See all the fees we charge when you have a business bank account with us.
Your daily balance | Monthly bank fee | UK transaction fees |
---|---|---|
£5000 or more | Zero | 50 free per month, then £0.30 each |
Under £5000 | £5.00 | £0.30 each |
Location | Card purchase | Cash withdrawal |
---|---|---|
Within Europe | FREE | FREE |
Outside Europe | 2.99% | 2.99% + £1.50 |
Where can I use my card for free in Europe?
When we refer to Europe, we mean the countries which are part of the Single European Payments Area (SEPA).
If you use your card abroad, any foreign currency transaction will be converted into sterling on the day it’s taken out of your account. The exchange rate is set by MasterCard®.
MasterCard® is a registered trademark of MasterCard International Incorporated.
If your account balance and agreed overdraft aren’t enough to cover a payment, we may give you an unarranged overdraft. Unarranged overdrafts have a typical interest rate of 25% EAR (variable).
EAR stands for equivalent annual rate. It shows the rate you’d pay if you remained overdrawn for a year. It takes into account the interest rate you’re charged when you go overdrawn, how often it’s charged and the effect of compounding – charging interest on interest – on your debt.
‘Variable’ means we may change these rates and charges from time to time, or introduce new charges. If this means you’ll pay more, we’ll let you know beforehand.
Interest will be calculated daily on your account and applied monthly. The amount of interest payable and when it will be charged will be shown on your monthly statement.
We may also make other charges:
There’s no monthly charge for this account as long as the balance remains above £5000 every day within the month, otherwise you will pay the monthly fee of £5.
We will charge for some transactions and services such as international payments, CHAPS payments and an Auditor's Certificate of Balance. You can find all the details of our transaction and service charges in the downloadable PDF below.
There are a few things to be aware of when opening an account online for multi-director companies.
Download our PDF to read when you like – it contains all the ins and outs about your business bank account.
Business Bank Account Details (PDF) (275KB)
Our Service Relationship with Business Customers (PDF) (1.1MB)
If your business has more complex needs, we can help you in store. View our latest opening hours.
Please bring in the right documents, to make opening your account quick and easy.
We will need proof of ID and proof of address for:
A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need.
Photographic ID
We can only accept original documents, not photocopies.
Valid Passport/EU national ID Card means in date, undamaged and machine readable. Unfortunately, we can’t accept handwritten passports or ID cards.
Non-photographic ID
If you’re providing non-photographic ID, you’ll need to bring 2 of the below proofs of address. We can only accept original documents, not photocopies.
Valid passport with your current visa (with at least 6 months left on it) or a Biometric Residence Permit.
Must have your name and current address on it. We only accept originals. It’s handy to have 2 of these with you, just in case.
If you are a sole trader you will need to provide one of the following documents:
The documents must show the business owner’s name, the business address, and the business trading name (if applicable).
If you can't provide any of these documents, we can arrange a site visit. (This is only necessary if your business address is different to your residential address).
Partnerships, including limited partnerships, will need to provide one of the following documents:
The documents must show the partners' names, the business address, and the business trading name (if applicable).
If you can't provide any of these documents, we can arrange a site visit. (This is only necessary if your business address is different to your residential address).
If you're a limited liability partnership we will, with your permission, carry out a credit reference agency search. We may not need any documents from you.
If you're a limited company we will, with your permission, carry out a credit reference agency search. We may not need any documents from you.
If your limited company is using a ‘trading as’ name, we may need a copy of the company board resolution (signed by two directors, or one director and the company secretary – or by the sole director, if there is no company secretary), authorising the use of the ‘trading as’ name.
Speak to our business specialist team on:
0345 0808 508
Monday to Friday, 8-6pm
You can reduce your bank charges with our Monthly Balance Reward. If your account balance stays above £5,000 for any whole month, for that month we’ll waive the monthly maintenance fee – and give you 50 free transactions.
If your balance falls below £5,000 at the close of business on any day, you’ll pay the usual fees that month. The £5,000 balance needs to be cleared funds within the account – ask your Local Business Manager for more details.
You can apply for an overdraft with your Business Account – just talk to your Local Business Manager.
Find out more about Business Overdrafts
You can also apply for our Business Credit Card. It’s a no-fee card with a simple low rate.
Don’t worry – we’ve got you covered. Read the simple instructions for connecting your account to Xero
Yes. If you choose to close your account, we will offer you the option to receive up to 5 years’ worth of prior transaction history at the point of account closure. We retain your transaction history for at least 5 years after you closed your account, so you can also request up to 5 years’ worth of prior transaction history from the date of the request. To make a request, you can visit us in store or call us on 0345 08 08 508.
We will provide a printed version of your transaction history via post, normally within 7 working days. You can also download your transaction history via online banking before you close your account.
Accounts which have been closed due to fraud or other unlawful activity, impairment, bankruptcy, insolvency, liquidation or which have had no activity in the past 5 years will not be eligible to receive transaction history.
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Get help when you need it most, with a fixed rate for arranged overdrafts of less than £25,000 and no hidden fees.