Best online business bank accounts in the UK for 2026

Key takeaways

For UK finance teams, comparing the best online business bank accounts gets tricky when transfer, card, and currency costs add up beyond the monthly fee. The right account keeps payments, spend, and currencies in one place, so we compare UK banks and fintech providers on fees, features, and protection.

What is an online business bank account?

An online business bank account is a business current account you open and manage through an app or website. The best online business bank accounts combine fast UK payments, cards, accounting sync, and team controls, with no branch visit needed.

UK providers fall into three main groups. Each group protects your money in a different way, so it helps to know which type you’re looking at.

Provider type	Examples	How your money is protected	Typical strengths
High-street banks with online accounts	HSBC, Barclays, Lloyds, NatWest, Virgin Money	FSCS protection for eligible deposits	Branch access, relationship managers, and lending
App-based digital banks	Starling, Monzo Business, Zempler Bank, Allica Bank	FSCS protection for eligible deposits	Low-cost everyday UK banking in an app
Fintech and e-money providers	OFX, Wise Business, Airwallex, ANNA	Regulated by the FCA, with client funds safeguarded rather than FSCS-protected	Multi-currency, international payments, and finance-team tools

OFX sits in the fintech group as a full online business account, with multi-currency and international payments as its standout.

When you shortlist the best online business bank account UK providers offer, check which group each one sits in first. UK Finance reports that Faster Payments and other remote banking payments rose 10% to 6.2 billion in 2025, driven particularly by business usage.²

Banks vs e-money providers: how your money is protected.

The Financial Services Compensation Scheme (FSCS) protects eligible deposits at UK-authorised banks up to £120,000¹ per eligible person, per authorised firm. The limit rose to that level on 1 December 2025¹, so some older guides still quote the previous figure.

Deposits held by a limited company are protected separately³ from its directors’ personal accounts at the same banking group. Sole traders share one limit across their personal and business accounts.

Funds held by payment and e-money firms aren’t directly FSCS-protected⁴. Instead, these firms must safeguard customer funds under Financial Conduct Authority (FCA) rules. You can check any provider’s status on the FCA Register.

In the UK, OFX is regulated by the Financial Conduct Authority as an electronic money institution. OFX is not a bank, and so you are not protected by the Financial Services Compensation Scheme when you send money with OFX.⁵ Learn more about how OFX keeps your money and information secure.

Your security comes first. OFX monitors transactions for suspicious activity with sophisticated technology.⁶

The shift is broad. According to the Financial Conduct Authority, the share of UK consumers using non-bank payment accounts rose from 1% in 2017 to 12% in 2024⁵. Over the same period, UK e-money firms safeguarded around £26bn in 2024, up from about £11bn in 2021⁵. Businesses are following the same path.

---

OFX Global Business Account

Receive, hold, convert and send funds across a wide range of currencies, reduce costs and gain greater control over your international payments.

Open an account

---

Do you need a separate business account?

A limited company is a separate legal entity, so its money needs to stay apart from directors’ personal money. An account in the company’s name is the standard way to do this.

So the best business bank account for limited company UK owners choose should fit their bookkeeping and give the right people access.

Sole traders aren’t legally required to have one, but it makes income and spending easier to track. For tax and record-keeping questions, the GOV.UK business bank account guidance is the best place to start.

Best online business bank accounts and fintech providers in the UK.

Most top 10 business bank accounts UK lists focus on free app accounts for start-ups. Growing teams also need to weigh cards, controls, and international payments.

So the best business bank account UK businesses can choose depends on how they pay and get paid. For a wider view, see our business bank accounts guide.

Best for at a glance:

OFX Global Business Account

The OFX Global Business Account is built for businesses that operate across borders. Hold, receive, and pay in 30+ currencies⁶, with local details in major currencies so you can get paid like a local.

Use spot transfers, Forward Contracts*, and Limit Orders^ in the same account to plan ahead when rates move.

It also functions as a full everyday business account. The Standard plan is £0/month⁷ includes corporate debit cards and multiple users (fair use). OFX Corporate Cards are Visa business debit cards linked to your Global Business Account⁸.

Add approvals, batch payments, AP automation, and spend management tools as your team grows. Transactions sync with Xero and QuickBooks Online, and the OFX Business App keeps you in control on the move.

Receiving payments via FPS and SEPA is free, while SWIFT fees apply⁷. The Full Suite £75/month including 5 users⁷ adds more controls, at £10/month per additional user⁷. Custom plans are available for larger teams.

OFX FX specialists are available 24/7 ⁶.

Starling Bank

Starling is a UK bank, so eligible deposits are FSCS-protected. Its Business Current Account costs £0/month⁹, and it suits teams that want free everyday UK banking.

Faster Payments are free⁹, and CHAPS costs £20¹⁰. Post Office cash deposits cost £3 or 0.7%⁹, whichever is higher.

Priority SWIFT payments cost £5.50¹¹, plus a 0.4%¹¹ currency conversion fee.

Accounting Plus costs £7/month until April 2027, then £14/month¹².

Tide

Tide is an FCA-regulated e-money provider, not a bank¹³. Its accounts are powered by ClearBank, with FSCS protection up to £120,000¹⁴, though some older accounts are safeguarded e-money.

Plans are Free £0¹³, Smart £12.49¹³, Pro £27.49¹³, and Max £69.99¹³ a month.

The Free plan includes 5 UK transfers a month¹³. Post Office cash deposits cost £2.50, up to £500¹⁴. International payment fees vary by plan, so check Tide’s pricing page.

Monzo Business

Monzo is a bank, so eligible deposits are FSCS-protected. Plans are Lite £0¹⁵, Pro £9/month¹⁵, and Team from £25/month¹⁵.

All plans include free UK transfers¹⁵, which suits simple, app-first banking. Cash deposits cost £1¹⁶ each.

International transfers carry a variable fee plus a fixed fee, and Monzo’s fee structure changes on 1 November 2026, so check its fee page.

Revolut Business

Revolut Business plans are Basic £10¹⁷, Grow £35/month or £360 a year¹⁷, Scale £125/month or £1,080 a year¹⁷, and custom Enterprise.

Each plan lets you exchange at the interbank rate with no fee within a monthly allowance, during market hours¹⁸: £1,000¹⁷ on Basic, £15,000¹⁷ on Grow, and £60,000¹⁷ on Scale. After that, it’s 0.6%¹⁷, plus 1%¹⁷ outside market hours.

You can hold 25+ currencies¹⁸.

Wise Business

Wise is an e-money provider, so funds are safeguarded rather than FSCS-protected¹⁹. There’s no monthly fee (£0²⁰), with a one-off £50²⁰ set-up fee.

Conversion fees start from 0.24%²⁰ and up to 2%⁶⁴ depending on currency, amount sent and how you fund the transfer. Local details are available in 22 currencies²⁰. It suits smaller teams that want simple currency conversion.

Airwallex

Airwallex is an e-money provider²¹, so funds aren’t FSCS-protected. UK plans are Explore £19/month (£0 with £10,000 in deposits or balance)²², Grow £49²², and Accelerate custom pricing²² (ex VAT).

FX costs 0.50%²³ for major currencies and 1.00%²³ for others. SWIFT payments cost £10 (SHA) or £20 (OUR)²³, and local details cover 20+ currencies²².

Zempler Bank

Zempler Bank is a bank, so eligible deposits are FSCS-protected. Plans are Go £0²⁴, Extra £9²⁴, and Pro £19²⁴ a month.

Go includes 3 free UK transfers a month, then 35p²⁴. Card FX is 2.99%²⁴ on Go and 0%²⁴ on Extra and Pro. Post Office cash deposits cost 0.55% (minimum £4)²⁴.

Other digital options: Mettle, ANNA and Allica Bank.

Mettle’s bank account is provided by NatWest²⁵ and costs £0²⁶, or £4/month²⁶ for Mettle+. It doesn’t support outbound international payments²⁷, so it suits UK-only trading.

ANNA’s account is issued through PayrNet Limited, an FCA-authorised e-money institution²⁸. Plans run from Free £0²⁹ to Grow £12.90²⁹, Business £22.90²⁹, and Big Business £59.90²⁹ a month (+ VAT). SWIFT payments cost £5²⁹, with FX at mid-market + 1% (0.5% on Big Business)²⁹.

Allica Bank is a bank whose business current account includes cashback on card spend³⁰. Its monthly fee depends on your account, so check Allica’s fees page for current pricing.

WorldFirst, GoSolo, and Countingup are further options.

High-street banks with online accounts: HSBC, Barclays, Lloyds, NatWest and Virgin Money.

High-street banks offer FSCS protection, branch access, and relationship support, and all five let you bank online.

HSBC Small Business Banking is free³¹, and Business Banking costs £10/month after 12 months free³². International payments cost £17³² online, and HSBC’s FX margin is not published. These figures are from HSBC’s price list effective 15 December 2025, and a revised list is due 14 December 2026.

Barclays Business Account is free for 12 months, then £8.50/month³³. Its FX margin runs from 2.00% (up to £25,000) down to 0.30% (over £1m)³⁴, and SWIFT payments cost £15³⁴ online.

Lloyds Business Account is free for 12 months, then £10/month³⁵, and welcome offers may be available. Its FX margin runs from 2.60% (up to £25,000) down to 0.90% (£1m)³⁶, with international payments at £15³⁷ online.

NatWest offers 2 years’ free banking³⁸ for eligible start-ups and switchers. International payments cost £15³⁹ (non-EUR), and its FX margin is not published.

Virgin Money’s business transferred to Nationwide on 2 April 2026⁴⁰, so its M Account is the Nationwide business bank account to look at. It costs £0/month (turnover under £1m)⁴¹, with an FX margin from 2.50% (up to £25,000) down to 0.65%⁴² and SWIFT at £17.50⁴² online.

Metro Bank, Handelsbanken, and RBS are further options.

Online business accounts compared: fees and features.

This table puts the best business bank account UK options side by side. The monthly fee has its own column, international costs are grouped together, and business card details sit in their own column.

Provider	Monthly fee	UK transfers and cash	International transfers and FX	Business cards	Protection
OFX Global Business Account	Standard plan £0/month; Full Suite £75/month including 5 users, plus £10/month per additional user; Custom plans available 7	50 FPS payments a month on Standard, 150 on Full Suite, then £0.20 each7; receiving payments via FPS and SEPA is free, while SWIFT fees apply7	Competitive FX rates; SWIFT payments £5 per transaction7; 30+ currencies6; local details in major currencies; Forward Contracts* and Limit Orders^	Visa business debit cards, physical and virtual8; multi-currency spend withno foreign transaction fees when spending from held balances6; cashback on eligible spend onFull Suite and Custom plans7	FCA-regulated e-money institution; not a bank, so not FSCS-protected; advanced transaction monitoring and two-step verification
Starling Bank	£0/month9	Faster Payments free9; CHAPS £2010; Post Office cash £3 or 0.7%9	Priority SWIFT £5.5011plus 0.4%11 conversion fee	Debit card; no Starling fee on foreign card payments10 (Mastercard exchange rate); up to five free expense cards9	FSCS (bank)
Tide	Free £0; Smart £12.49; Pro £27.49; Max £69.99 13	Free plan: 5 UK transfers a month13; Post Office cash £2.50, up to £50014	EUR and USD payments: £1 + 1.50% FX markup (Free), £0.50 + 1.25% (Smart), 0.75% (Pro), 0.50% (Max)43; inbound SWIFT £10, £7.50, £5 or £3 by plan43	Business card issued under licence from Mastercard; card FX 2.75% on Free, 0% on Smart, Pro and Max; 1, 2 or 3 team cards on Smart, Pro and Max; cashback on Max plan 13	E-money; accounts powered by ClearBank, with FSCS protection up to £120,00014
Monzo Business	Lite £0; Pro £9/month; Team from £25/month 15	Free UK transfers15; cash £116per deposit	From 1 November 2026, a fixed fee less than £0.80 for most currencies, up to £11 in some cases; receiving non-GBP 1% conversion fee (capped at £1,000) 16	Debit card; virtual and expense cards15; £0 on foreign card payments16	FSCS (bank)
Revolut Business	Basic £10; Grow £35/month or £360 a year; Scale £125/month or £1,080 a year; Enterprise custom 17	10 free a month on Basic, 100 on Grow, 1,000 on Scale, then £0.20 each 17	International payments £5 per transfer (Grow 5 and Scale 25 free a month)17; FX at the interbank rate with no fee within a monthly allowance, during market hours18, then 0.6%17; 25+ currencies18	Physical and virtual cards on all plans18; first plastic card free17; card FX fee not published	Revolut Bank UK Ltd is a PRA-authorised bank18; check which entity holds your account
Wise Business	£0; one-off £50 set-up fee20	Receiving domestic payments free20; 52p63 per bank transfer to other uk banks	FX conversion fee from 0.24%20 and up to 2%64 depending on route, amount and method; local details in 22 currencies20, sending or receiving via SWIFT additional fees apply20 and sending same-currency cross-border fees apply20	Business debit card, physical and digital44; same-currency spend free20; cashback on eligible business card spend44	E-money, safeguarded rather than FSCS-protected19
Airwallex	Explore £19/month (£0 with £10,000 in deposits or balance); Grow £49; Accelerate custom pricing (ex VAT)22	Free domestic transfers in GBP21	FX 0.50%23 major, 1.00%23 other; SWIFT £10 (SHA) or £20 (OUR)23; 20+ currencies22	Visa multi-currency corporate cards, virtual and physical, with Apple Pay and Google Pay45; zero international fees21	E-money
Zempler Bank	Go £0; Extra £9; Pro £19 24	Go: 3 free UK transfers a month, then 35p; Post Office cash 0.55% (minimum £4)24	International payments available; fee not published on Zempler’s account page	Card FX 2.99% on Go, 0% on Extra and Pro; cashback on Extra and Pro (limits apply) 24	FSCS (bank)
HSBC UK	Small Business Banking free31; Business Banking £10/month after 12 months free32	Free electronic transfers via Business Internet Banking46; cash deposit £1.50 + 1.50%32	International payment £1732 online; FX margin not published	Debit card; 2.75% non-sterling payment fee32	FSCS (bank)
Barclays	Free for 12 months, then £8.50/month33	Faster Payments free; cash in 60p each33	FX margin 2.00% (up to £25,000) down to 0.30% (over £1m)34; SWIFT £1534 online	Debit card; card FX fee not shown on Barclays’ current account page	FSCS (bank)
Lloyds	Free for 12 months, then £10/month35	Electronic payments included at no extra cost47; cash £0.85 per £100 at a deposit machine, £1.60 per £100 over the counter47	FX margin 2.60% (up to £25,000) down to 0.90% (£1m)36; international payment £1537 online	Debit card; card FX fee not published on the pages we checked	FSCS (bank)
NatWest	2 years’ free banking38 for eligible start-ups and switchers	£0.35 per automated payment48, free during the start-up or switcher period; cash £0.95 per £10048	International payment £1539 (non-EUR); FX margin not published	Debit card; 2.75% non-sterling transaction fee48	FSCS (bank)
Virgin Money M Account (Nationwide)	£0/month (turnover under £1m)41	No charge for electronic payments; manual debits £0.9549; cash £0.90 per £10049 at branch or Post Office	FX margin 2.50% (up to £25,000) down to 0.65%42; SWIFT £17.5042 online	Debit card; 2.75% (min £1.50) in most non-sterling currencies49	FSCS (bank)
Santander	Business Current Account Classic £9.99/month50	Faster Payments fee not stated in key facts; cash free up to £1,000 a month at Santander machines, then £1.25 per £10051	£25 fixed fee; 1%–3% mark-up in the exchange rate52	Debit card; 2.95% foreign currency conversion fee52	FSCS (bank)
Co-operative Bank	Business Bank Account free53; BBA Plus £10/month54	Automated credits and debits free55; cash 75p per £10055 in branch	SWIFT £10 online56; SEPA free56; FX margin applies; see Co-op business international payments page56	Debit card; Visa exchange rate + 2.75%57	FSCS (bank); business transfer to Coventry Building Society proposed from 1 January 2027

Deposits at PRA-authorised banks are protected by the FSCS up to £120,000⁵⁸.

Fees are correct at the time of writing and can change. Introductory free periods are time-limited, and VAT treatment varies by provider.

How to choose the right online business account.

The best online business bank account UK teams can pick fits how they really pay and get paid. These five checks help.

Work out the total cost at your real volumes.

Start with the monthly fee, then add per-transfer, cash, and international costs at your usual volumes. A free plan can cost more than a paid one once you pass its transfer limits.

For international payments, the FX cost and the transfer fee are separate, and they add up. Starling, for example, charges £5.50¹¹ for a Priority SWIFT payment plus a 0.4%¹¹ conversion fee.

Bank FX margins often change with payment size, so check the tier that matches your usual payments.

If you take cash, check deposit fees. Some providers also offer overdrafts or lending.

Check international payments and currency support.

Cross-border trade is common for growing firms. DBT’s Longitudinal Small Business Survey 2025 found 24% of UK SME employers directly imported goods or services in the last year. That rose to 41% of medium-sized firms (50–249 employees).⁵⁹

If you’re looking for the best online bank for international transfers, widen your search to fintech providers too. Check which currencies you can hold, not just send, and whether you get local details.

OFX was built for this. A multi-currency business account lets you hold, receive, and pay in 30+ currencies⁶ from the same account you run your business from.

Local details in major currencies help you get paid like a local. Forward Contracts* lock in a rate for a future payment, and Limit Orders^ target the rate you want.

Look for controls, integrations and team access.

Growing teams need more than a debit card. At the start of 2025, the UK had 38,435 medium-sized businesses (50–249 employees), according to DBT’s Business Population Estimates 2025.⁶⁰

At that size, look for multi-user permissions, approval workflows, bulk payments, and expense cards. Check which accounting software each provider supports, such as Xero, QuickBooks, FreeAgent, or Sage.

OFX brings these together. Issue corporate debit cards with spend controls, and let AP automation capture bills and route approvals.

Then sync transactions through the Xero integration or QuickBooks Online integration. Bank feeds are available on all plans, with 2-way sync on the Full Suite plan. Less admin. Faster month-end.

Weigh up support and service quality.

Check how and when you can reach each provider. Independent Ipsos service-quality results⁶¹ for Great Britain’s business current account providers are a useful cross-check.

OFX FX specialists are available 24/7⁶, so you can talk to a real person when it matters.

Consider running more than one account.

You can hold more than one business account. Some businesses do this to access different features or to spread balances across separately authorised providers.

OFX works as a standalone business account. Many OFX clients keep a bank account for legal or borrowing purposes while using OFX to save time and money on their financial operations and currency transfers.

How to open a business account online.

Most providers let you apply in an app or online in a few steps:

You’ll usually need photo ID and proof of address for directors. Limited companies also need their Companies House number and details of significant owners.

Timeframes vary by provider. With OFX, registration typically takes under 10 minutes online. Verification typically takes 2–3 business days, with platform access meanwhile.

Switching accounts with the Current Account Switch Service.

The Current Account Switch Service⁶² (CASS) moves payments and balances to a new account for eligible small businesses. Eligibility covers businesses with fewer than 50 employees and annual turnover up to £6.5 million, so larger firms may need to switch manually. Check the CASS site to confirm your business and both providers are eligible.

Why growing UK businesses choose OFX.

OFX is an online business account built for international business. One account covers payments, team spend, and currencies.

It’s made for teams that make international business payments often. If you’re comparing against the best online bank for international transfers.

With OFX, you can:

Start on the Standard plan at £0 per month⁷. Move to the Full Suite £75/month including 5 users⁷ when you need more controls.

Many OFX clients keep a bank account for legal or borrowing purposes while using OFX to save time and money on their financial operations and currency transfers.

See our business pricing and take a virtual tour today.

Frequently asked questions about the best online business accounts:

Looking for an alternative to your bank?

Get OFX Business for free

References

*If you book a Forward Contract, it may mean losing out if the market rate improves because you’re contracted to settle at the agreed rate. This means you benefit if the market rate worsens, but you lose out if the market rate improves.

^If you book a Limit Order, it may mean losing out if the market rate continues to move above your target rate. There is no guarantee that your desired rate will be reached. Once the order is triggered, the transfer is binding and cannot be voided.

IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited (trading as “OFX”) and its affiliates make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.