The bank account that's in tune with your business

We’ve paused applications for our Business Bank Account

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.

Resume your online application

The bank account for your business

Personal service

Your Local Business Manager can help support your business. Visit them in person, send them an email or give them a call.

No monthly fee

Keep your balance at £5,000 or more for the whole month and we'll waive your monthly fee. More about account fees.

Fees and charges

We like to be upfront with you. See all the fees we charge when you have a business bank account with us.

Account fees:

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

No minimum balance

Using your debit card abroad

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?

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 you don’t have enough in your account

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:

£25 charge for an unpaid item (when you don’t have funds to cover a cheque, direct debit or standing order payment and we have to return it unpaid)
£15 charge for a paid item (when a cheque, direct debit or standing order is deducted from your account and creates an unarranged overdraft)

Fees and 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.

All the particulars

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)

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Give us a call

Speak to our business specialist team on:

0345 0808 508

Monday to Friday, 8-6pm

More ways to get in touch

FAQs

How can I reduce my bank charges?

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.
Can I get an overdraft or credit card with my business account?

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.

Find out more about our Business Credit Card
How do I connect my account to Xero accounting software?

Don’t worry – we’ve got you covered. Read the simple instructions for connecting your account to Xero

Find out more about Xero accounting software
Can I access my transaction history for closed accounts?

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.