We’re getting a huge amount of interest in our Business Bank Account at the moment.
To make sure our services keep running smoothly, and so we can meet our commitments to our existing customers, we’ve temporarily stopped taking any new applications online or in store.
We’re planning to start accepting applications again early next year.
If you applied online before 8am on Friday 9 October, or you already have an appointment booked in store to make an application, you can carry on as normal.
Click here if you’re eligible for the RBS Incentivised Business Switching Scheme and wish to open an account – we can still accept these applications.
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.
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|
|Outside Europe||2.99%||2.99% + £1.50|
Where can I use my card for free in Europe?
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.
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.
Download our PDF to read when you like – it contains all the ins and outs about your business bank account.
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.
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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