Business Bank Accounts with Free Subscriptions
posted 3rd September 2021
The needs of businesses varies, hence, it's important to fully research any bank before choosing the right one for your business
Tide
- Free account
- 20p per bank transfer (free if transaction is between Tide accounts)
- Integrates with Freeagent, Kashflow, Quickbooks, Reckon One, Sage & Xero
- No overdraft facility
- Manage account via Online and App
Mettle(by Natwest)
- Free account
- Free bank transfers
- Integrates with Freeagent & Xero
- No overdraft facility and no international payments
- Manage account via Online and App
Starling
- Free account
- Free bank transfers
- Integrates with Freeagent & Xero
- Overdraft facility after 18 months of trading and Free international payments
- Manage account via Online and App
Others
Some other major banks will offer free subscriptions for a period of time and RBS are offering a free subscription to FreeAgent for as long as you maintain their business bank account.
Carefully consider your needs before deciding
It is important to do your research on what will work best for your immediate and future business plans.
If you are going to moving cash to bank, an online account may not be suitable, or if will have heavy transactions - accounts with monthly fee may be appropriate that comes with free, unlimited transactions.
Other features offered by the banks, e.g. savings account, credit cards or rewards/incentives may also be attractive to you.
Sole traders
Are not obliged to open a dedicated business bank account, but very useful in record and book keeping if you do.
Limited Company
Must have a business bank account.
MOTHERN ACCOUNTANTS
We can help you in researching your options and support in the process of opening up a business bank account once you are decided.
