Top 8 business bank accounts in the UK (2026)

Key takeaways

• Modern UK businesses must select between traditional banks and fintech platforms like Airwallex. Traditional banks often restrict international growth with high FX costs, while modern fintech alternatives offer purpose-built solutions for global scale.

• Prioritise future scalability over immediate fees when choosing an account. Look for transparent FX margins, robust multi-currency support, and seamless software integration—the core features that ensure your financial platform can sustain long-term growth.

• Airwallex provides UK businesses with a complete financial platform featuring local accounts in 60+ countries, market-leading FX, and integrated tools for payouts, spend management, and payment acceptance.

Your business account is more than a place to keep money—it's a key part of your operations, whether you're a founder scaling up or an established company seeking efficiency.

In this article, we'll compare the best business bank accounts and alternatives in the UK on important measures, and explain the nuances to consider when making a choice that works for today and the future.

A quick look at the top 8 business bank account and alternative providers in the UK

The UK's best business account options include traditional banks (HSBC, Barclays, Lloyds, NatWest), digital banks (Starling, Revolut), and fintech platforms (Airwallex, Wise, Payoneer). Traditional banks offer stability and lending, while fintech alternatives provide superior multi-currency features and lower international fees.

Airwallex

Airwallex stands out as a powerful alternative to traditional business banking, especially for UK businesses that operate on a global scale. With an Airwallex business account, you can manage your international finances seamlessly including multi-currency accounts, international payments, and Corporate Cards.

This can make it an excellent choice for businesses looking to scale their financial operations without the constraints of a traditional bank. Airwallex is authorised as an eMoney Institution and regulated by the Financial Conduct Authority and hold 60+ licences worldwide.

Wise

Offers cross-border and -currency business accounts for easy and transparent money management, with real-time exchange rates and low fees.

Payoneer

Specialises in cross-border payments, offering business accounts that facilitate global transactions, with capabilities for mass payouts and receiving funds from international marketplaces.

Revolut

Provides paid-for business accounts with features like multi-currency wallets, corporate debit cards, and expense management tools. Straddles the line between eMoney Institution and bank, as it's awaiting its full UK bank licence.

Starling

Known for its mobile-based business banking, Starling offers straightforward accounts with no monthly fees, integrations with popular accounting software, and savings spaces to separate your balance.

HSBC

The largest UK bank, when ranked by global assets. With a strong presence in Asia, they offer a wide range of business banking solutions, including current accounts, business savings accounts, loans, and trade finance services.

Barclays

One of the oldest banks in the UK, offering business banking services including accounts, loans, and merchant services. Known for tailored solutions for businesses of varying sizes and sectors.

Lloyds Bank

Provides a variety of business banking products, including accounts, loans, and payment services, with a focus on UK-based SMEs.

NatWest

Offers business banking services, including accounts, funding options, and sector-specific financial advice, primarily serving UK businesses. The wider group also operates the Royal Bank of Scotland and Ulster Bank.

Compare the 8 top business bank account and non-bank business accounts in the UK

Use our table to compare a range of business bank accounts and alternative business account solutions offered by some of the UK's leading banks and FinTechs.

*Margin in addition to the interbank rate.

Sources last updated: Q2 2025. We have compared Airwallex's pricing structure with standard pricing published by competitors.

What is a business bank account?

A business bank account or business account is a type of account opened in the name of an entity—not an individual.

Separate business accounts provide:

• Legal protection: Keeps personal and business finances separate

• Ease of administration: Simplifies accounting and tax reporting

• Business-specific benefits: Access to features designed for managing company finances

Alternatives to a business bank account

An alternative to a business bank account is a "business account" provided by non-bank financial services providers. Traditional business bank accounts work well for getting started, borrowing, and moving money domestically.

As businesses grow internationally, many discover the limitations and high fees of traditional accounts. Comparing international business bank accounts reveals how fintech providers like Airwallex offer purpose-built solutions for international payments, invoicing, company cards, and expense management—often known simply as business accounts.

What's the difference between a business bank account and a business account?

A business bank account is provided by a financial institution with a banking licence. A business account is provided by an e-Money or other non-bank financial institution.

Both are legitimate and trustworthy ways to store and spend your business' funds, but there are some differences to be aware of – which we explain in the table below.

Do I need a business account in the UK?

Limited companies in the UK are legally required to have their own business account. As a unique legal entity, businesses have their own financial obligations and records to maintain.

Sole traders and freelancers can manage their finances from a personal current account, but many choose not to. Manually separating business expenses from personal ones isn't a good or fun way to spend time when the tax year ends.

The good news is that business owners have more options than ever for their accounts. New banking licences have been booming in the last 15 years or so, along with the introduction of e-Money institutions. 'Business accounts', which are functionally very similar to banks' current accounts, have made the market far more competitive.

The top features to look for in business bank accounts and alternatives

Finding the best business account is a personal thing. A global business operating in dozens in countries has very different needs to a UK startup that's waiting to hit the VAT threshold.

Despite this, there are some things to assess no matter what your business looks like:

• Fees: Make sure you understand the pricing structure and how it works with the way you do business. (e.g. Free cash deposits for businesses that take a lot of cash payments or low transaction fees for high-volume businesses.)

• Speed: How quickly and easily can you get set-up with the account? A long wait or awkward downtime could disrupt your operations.

• Scalability and future-proofing: An account might be good for today, but can it grow with your business? Your financial needs – both in terms of volume and complexity – will grow with your business. If your current provider can't keep up, knowing how to switch your business bank account efficiently becomes essential.

• Built for businesses: Some accounts are little more than rebadged personal accounts. The best accounts are specially built to deliver value for businesses, with specific features and services that only a business would need.

• Visibility and transparency: As well as being easy to navigate and understand, you really want your business account to integrate with your other financial systems (including accounting software). Otherwise, you'll be forced to do a lot of frustrating manual work.

The importance of choosing the right business account

When business owners start looking for a new bank account, they tend to prioritise one of two things:

• Which one has the cheapest transaction fees

• Which one offers the highest interest rates or cashback

While fees and interest matter, the right account provides features your business needs to improve margins and scale. For businesses operating internationally, multi-currency accounts can significantly reduce FX costs and streamline global operations. Consider:

• International operations: If you have suppliers in multiple countries, cheap account fees won't offset expensive international transfers. Understanding different international payment methods helps you identify solutions with like-for-like settlement or mid-market FX rates.

• Growth trajectory: Choose an account that scales with your business complexity

How do I open a business bank account?

While a few of the big banks might still need to see you in-person at one of their branches, almost all providers have online processes in 2025. No matter who they are and who you are, you'll need to share some documents to set up your account.

Sole traders will need to provide:

• Proof of identity, such as a picture of your passport or driving licence

• Proof of address, such as a bill or bank statement

Limited companies will need to provide:

• Proof of identity for all company directors

• Certificate of incorporation

• Memorandum and articles of association

Once you've submitted your application, your provider will assess your eligibility and (hopefully) create your account. e-Money institutions regularly approve accounts on the day of application. Some of the traditional banks can take weeks or even months. Again, this is down to the legacy systems and processes at the big banks.

Why open a business account with Airwallex?

We won't take up too much of your time with this, but we want to share five quick reasons why businesses are choosing to grow with Airwallex:

• Make the world feel local – An Airwallex Business Account provides local account details in 60+ countries, letting you collect payments in 130+ currencies without costly FX or paperwork. Convert as needed or pay bills in the same currency you collect.

• Let customers pay their way – You can accept over 160 payment methods, so your customers feel at home with you the world over.

• Market-leading FX – The minute your supply chains and customer base extend beyond your home borders, costs start to rise. Airwallex offers some of the most competitive FX rates – or you can skip exchange entirely, with like-for-like settlement in over a dozen currencies.

• The global financial OS – As well as providing all the financial services a global business needs (including global payouts, spend management, and payment acceptance), we also offer integrations with ecommerce platforms and accounting software.

• It's in your hands – We've built Airwallex to be flexible, customisable, and adaptable. Your dev team can use our APIs to create incredible and unique experiences for your brand.

What do British businesses say about Airwallex's Business Accounts?

We've spoken to a number of our customers across industries to learn how they have used Airwallex Business Accounts to streamline their financial operations. Here's just a few excerpts from our portfolio of success stories .

Conductr

Jos Van der Steen, Co-founder and COO at Conductr, a business that specialises in building attractions and experiences, struggled with the expensive pain of growing internationally.

"We tried Payoneer and Wise, but the interfaces were clunky and it's not easy to do anything. Airwallex is very easy and very convenient for us. A major benefit of Airwallex is how easy it is to open accounts in different countries - now we can pay suppliers quicker. It's invaluable having a live conversion of all our accounts into a GBP value, so I get an immediate snapshot of our finances. Using Airwallex has saved us over £100,000 in fees in less than a year. It's been eye-opening how much we've saved by using Airwallex instead of our traditional bank." - Jos Van der Steen, Co-founder and COO, Conductr.

Read Conductr's story .

Perspective Pictures

Video production agency, Perspective Pictures, frequently travels the world filming for impressive clients. Making international payments for sets, equipment and teams was a problem Rupert Rixon, Managing Director, simply did not need.

"Genuinely, Airwallex has saved us so much time, money, and hassle. Previously there would always be this anxiety when we were doing these big shoots or having to work with lots of remote teams and pay them and I would be constantly worried that we would have our bank account locked." - Rupert Rixon, Managing Director, Perspective Pictures.

Read Perspective Pictures' story .

Olsam

Olsam buys small Amazon companies and grows them into eCommerce brands. With growth, they needed a better way to manage the global financial operations of their portfolio.

"The customer service and the responsiveness of Airwallex is a massive reason why we've chosen to work with you. We're having to set up new accounts all the time, if we hit roadblocks we know we can email or call, and we'll have a timely response. If you're looking for a scalable and slick onboarding and set up process for each acquisition, Airwallex is fantastic. It also provides a great interface for viewing a consolidated list of seller centrals and Amazon stores in a nice dashboard. The design is very helpful for businesses like us." - Sam Horbye, Co-Founder, Olsam.

Read Olsam's story .

If you're interested in setting up an Airwallex business account, sign up today or click below to watch a 3-minute demo.

Choosing the right business account for your growth

Choosing the right business account is about more than just monthly fees; it's about finding a financial partner that can keep up with your ambition. While traditional accounts serve a purpose for domestic operations, businesses with global goals need infrastructure built for the modern economy.

Look for a platform that offers transparent FX, seamless multi-currency management, and integrations that save you time. This ensures your financial operations become a source of growth, not a bottleneck.

Ready to see how a modern financial platform can support your business? Explore the product and discover how Airwallex is helping UK businesses operate without borders.

Frequently asked questions about business accounts in the UK

What is the best business account for a UK small business?

For domestic operations, high-street banks (HSBC, Barclays) and digital banks (Starling) work well. For international operations, fintech platforms like Airwallex offer better value with local account details in multiple countries, market-leading FX rates, and lower fees.

How should I compare business accounts?

Look beyond monthly fees and assess: FX margins, integration with accounting software (Xero, QuickBooks), scalability (multi-currency support, API access), and speed (account setup and transfers). These factors impact long-term costs more than headline fees.

Can I use a personal account for my business in the UK?

If you are a sole trader, you can legally use a personal account, but it is not recommended. It makes accounting and tax returns difficult. For limited companies, a separate business account is a legal requirement in the UK to keep company finances distinct from personal funds.

How long does it take to open a business account?

Traditional banks take several weeks to months for approval. Fintech providers like Airwallex typically approve accounts within hours to a couple of business days once documentation is submitted.

Sources and references

For more information on Airwallex pricing, please visit our pricing page.

1. https://wise.com/gb/pricing/business/hold-fees?sourceAmount=1000&sourceCurrency=GBP&targetCurrency=EUR&track=false

2. https://www.revolut.com/business/currency-exchange/#What%20are%20the%20exchange%20fees/

3. https://www.starlingbank.com/business-account/multi-currency/

4. https://www.payoneer.com/about/pricing/

5. https://www.disruptionbanking.com/2024/01/19/wise-demands-banks-reveal-fx-markups-as-hidden-fees-lead-frustrated-brits-to-lose-faith-in-banks/#:~:text=As%20of%20December%20to%20January,charges%20a%20hidden%20fee

6. https://rutlandfx.com/barclays-exchange-rate/#:~:text=Barclays%20Bank%20charges%20a%20%C2%A325,FX%20price%20plan%2C%20which%20is

7. https://www.lloydsbank.com/business/fx-margins.html

8. https://www.natwest.com/business/support-centre/making-and-accepting-payments/electronic-payments/international-transfers/fx-currency-calculator.html#making-international-payments

Disclaimer: We updated this article in Q3 2025. The information was based on our own online research and we were not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. If you would like to request an update, feel free to contact us at [email protected].