Top 6 international business bank accounts for the UK (2026)

Key takeaways

• Modern fintech platforms like Airwallex enable quicker, more affordable global transactions through multi-currency accounts and local payment rails in 120+ countries.

• Traditional banks offer established customer support but typically charge higher fees than fintech alternatives and have fewer international features.

• A dedicated business account is essential for separating personal and business finances, simplifying tax compliance, and scaling operations efficiently.

Micro, small, and medium-sized enterprises account for 90% of all businesses^1. Yet traditional banks often prioritise larger businesses with higher turnover, leaving SMEs underserved.

Modern fintech platforms are designed specifically to address this gap, offering SMEs the tools and features they need to reach their full global potential.

We compared the top international business bank accounts and alternatives below, including prices and features to help you determine the right fit for your needs.

What is a business bank account?

A business account is a dedicated financial account that separates your company's income and expenses from personal funds. This separation is essential for accurate bookkeeping, tax reporting, and maintaining professional financial records that support business growth.

Key functions include:

• Receiving payments from customers.

• Paying suppliers, employees, and other business expenses.

• Tracking cash flow and financial health.

• Integrating with accounting software to simplify reconciliation.

For limited companies in the UK, having a separate business account is a practical necessity to maintain the company's status as a distinct legal entity. For sole traders, while not always a strict legal requirement, it is highly recommended by accountants to simplify tax returns and financial management.

Do I need a business bank account in the UK?

Whether you legally need a business account in the UK depends on your business structure.

• Limited Companies and LLPs: Your limited company must have its own business account as a separate legal entity. Mixing company funds with personal finances creates legal and accounting complications.

• Sole Traders: While you can legally use a personal account, opening a separate business account is strongly advised. This makes tracking income and expenses, calculating tax liability, and establishing professional financial records significantly easier.

A dedicated business account forms the foundation of sound financial management for any UK business, regardless of legal requirements.

Business bank accounts vs. business accounts: What's the difference?

While people historically associate business accounts with banks, modern fintech platforms like Airwallex and Wise offer comprehensive financial solutions without being banks. These alternatives provide integrated platforms that manage payments, corporate expenses, bill pay, and accounting integrations all in one place.

Here's how they differ:

• Business bank accounts (like Barclays or HSBC) are provided by institutions with banking licences and traditional banking infrastructure.

• Business accounts from fintech platforms (like Airwallex) are provided by institutions with electronic money licences, offering modern, API-first infrastructure.

• Both solutions support core business financial operations, but differ in licensing, features, and global capabilities.

Top 6 business accounts for UK businesses

There are several great international business bank accounts and alternatives to choose from. Compare our top providers below, including:

1. Airwallex: Known as an alternative to global banks, Airwallex offers international business accounts that enable businesses to manage, hold, and move funds globally with an array of global business-oriented features and tools.

2. Wise: a non-bank London-based company designed to facilitate global money transfers for consumers and businesses.

3. Revolut: Originally a consumer product, this is a London-based financial services company that offers personal and business accounts for sending and receiving money.

4. Starling Bank: a British bank that offers consumer accounts and business accounts primarily for domestic use but has some basic international transfer support.

5. HSBC UK: the UK branch of the multinational traditional bank that offers business services for everything from sole traders to enterprise clients.

6. Barclays: a traditional British bank that specialises in retail and corporate banking with international support.

*£0/month if you deposit at least £10k per month or hold a minimum balance of £10k

Business account options in 2026

As the comparison table shows, the landscape for international business accounts in 2026 is diverse. Traditional banks offer established services but can be slower and more costly for global transactions. In contrast, modern fintech platforms provide the speed, flexibility, and lower costs that dynamic businesses need.

For UK startups and small businesses expanding internationally, Airwallex emerges as a leading option. By combining multi-currency accounts, competitive FX rates, and seamless software integrations into a single platform, Airwallex provides a powerful, cost-effective financial toolkit designed to fuel global growth.

Airwallex

Key features:

• Cost: From £19/month or free if terms and conditions met

• Services: All-in-one platform with Expense Management, Bill Pay, and accounting software integrations

Airwallex offers Business Accounts tailored for SMEs through to customised embedded finance solutions for enterprises. Open domestic and foreign currency accounts with local bank details to collect payments in 20+ currencies.

Payment capabilities:

• Accept all major card schemes (Visa, Mastercard, Amex)

• Support 160+ local payment methods globally

• Access multi-currency wallets with local bank details in 60+ countries

Airwallex supports payouts to 150+ countries, with 120+ countries leveraging local payment rails. 90% of international transfers arrive within hours or same-day, compared to SWIFT systems which take up to five business days.

If you make frequent international transfers, fees can add up. If there are already existing balances in the currency you're remitting, Airwallex will draw from those balances, avoiding unnecessary FX fees. If not, Airwallex offers foreign exchange (FX) at interbank rates, allowing you to save up to 80% on FX fees.

Wise

Key features:

• Cost: £60 account registration and no monthly fees.

• Services: app integrations and the ability to control individual team access to accounts.

Wise is a financial technology company focusing on global money transfers and offers international business accounts for both consumers and businesses. Businesses can get started for £60 and pay no monthly fees^2.

While generally transparent and cost-effective, Wise Business Account may incur fees for certain transactions, such as sending money or withdrawing cash over specific limits. These fees vary by currency and can accumulate, especially for businesses that often engage in high-volume transactions or need to withdraw large amounts of cash regularly.

While Wise lets you hold 40+ currencies there are limitations in receiving money. For instance, receiving USD wire and Swift payments incurs a fixed fee of 6.11 USD per payment, and receiving CAD Swift payments costs 10 CAD. Additionally, while capable of receiving Swift payments in 20 currencies, Wise may not be able to control fees imposed by correspondent banks.

Revolut

Key features:

• Cost: free introductory plan — standard paid plans go up to £79+ a month.

• Services: customisable APIs, plus card and account controls for detailed management.

Rounding out the online international business solutions, Revolut^3 is a little pricier than some fintech competitors although they have similar offerings. Revolut offers three plans, which allows businesses to switch as they scale up.

While the basic plan is free, there may be other costs associated with specific services. Each plan has specific limitations, such as the amount of currency exchange at the interbank rate and the number of no-fee transfers, potentially requiring businesses with higher usage beyond the plan allowances to opt for more expensive plans^4.

Starling Bank

Key features:

• Cost: free basic account, £2/month Euro account, and £5/month USD account.

• Services: Best for Europe-focused international business.

Starling Bank^5 is a UK neobank that offers domestic business accounts and limited international support for businesses. Their business account costs nothing to open and Starling doesn't charge a monthly fee. But their multi-currency account can only hold, send, and receive two currencies right now: USD and Euros. To maintain these currency accounts, businesses will have to pay extra fees every month.

While you can send money abroad to 34 countries in 17 currencies using local network payments or SWIFT delivery, Starling Bank charges a 0.4% conversion fee on top of the currency conversion and a "small delivery fee" to cover costs which can add up depending on the volume of transactions.

HSBC UK

Key features:

• Cost: £96+ annual maintenance fee, plus a £6+ monthly fee.

• Services: varied services at scale fit for large corporate businesses.

High-street banks still have their place, and HSBC^6 is a go-to option for many businesses in the UK. However, it's more expensive than many of the online services covered.

HSBC offers a Small Business Banking Account for businesses whose turnover is below £6.5m and have borrowing needs of up to £100,000^8. The traditional bank approval process isn't usually as quick and efficient as fintech alternatives. So rather than opening an account in a day or two, it may take a week or more to start spending from your account.

The Small Business Account has many features you'd expect from a regular bank. You can open foreign currency accounts in most countries, pay in over 60 currencies, and have a corporate card. However, the fees can be high.

After your first 12 months with HSBC, accounts start at £96 a year and include free internal transfers, with international SWIFT transfers beginning at £17 per transaction. Cards are also included with a £32 annual Corporate Card fee after the first 12 months of account opening, as well as a fee for all non-sterling transactions.

Barclays

Key features:

• Cost: £8.50/month after one free year and £10/month reporting fee.

• Services: extensive customer support and tools to support management.

Like HSBC, Barclays^9 is an established bank in the UK and has extensive customer support lines and tools to make banking easier. Opening an account does cost less than HSBC but still costs more than other non-bank competitors.

A Barclays Business Account can make EUR payments to the European Economic Area (EEA) through SEPA transfers. It can also make international payments in over 50 currencies through Barclays International Payments Service (BIPS) and high-value same-day UK transactions through CHAPs. However, depending on what transfer types you choose, charges can vary quite widely, and it can very quickly add up.

Barclays also offers foreign currency current accounts available in 17 currencies^10 You may be required to apply for it separately from your Business Account application. Business Account holders get free internal transfers, while international payments cost £15+. Provided account cards also run UK transactions for free, but there's a 2.75% fee for non-sterling transactions^11.

Must-have features when choosing a business account

When comparing business accounts and providers, coverage, convenience, and costs vary significantly. Consider these key factors:

• Currency coverage: Verify the account supports your key business currencies (leading platforms offer 20+ currencies)

• FX rates: International-focused platforms typically offer more competitive foreign exchange rates than traditional banks

• Transfer speed: Local payment rails enable same-day transfers, while SWIFT transfers take 3-5 business days

• Integrations: API access and connections to accounting software (Xero, QuickBooks, NetSuite) streamline operations

• Account requirements: Check director residency restrictions, local regulations, and business documentation needs

Digging into these details will help you narrow down account options by cost and service considering your specific needs. But each international business account provider has its perks.

How to open a business account in the UK

Some of the specific steps may vary among providers, but opening an international business bank account is a lot like how to open a business bank account with some extra paperwork:

1. Compare accounts to choose the best fit.

2. Choose your location, including your actual residence and where you want to open an account.

3. Confirm eligibility for your chosen account, considering residency and business requirements.

4. Apply online and submit your business details to open an account. Most traditional banks will require you to be physically present at a branch in order to process the paperwork.

Required documents vary by provider and location, but you'll typically need:

• Personal identification: Government-issued ID, proof of employment and income

• Business documentation: Company registration, business address, and incorporation documents

• Initial deposit: Some accounts require minimum balance to open and maintain the account

Look beyond introductory offers when comparing accounts. Scrutinise the complete fee structure including setup costs, monthly charges, and international transfer fees, which significantly impact your long-term costs.

Choose the right business account for your UK business

The best business account for your UK company depends on your operational needs. Traditional banks or digital banks work well for primarily domestic operations.

However, businesses with international suppliers, global customers, or distributed teams need a modern financial platform built for cross-border commerce. Airwallex provides an integrated solution that unifies multi-currency accounts, fast local-rail transfers, and comprehensive spend management.

For UK businesses with global ambitions, Airwallex provides a powerful financial operating system. By unifying multi-currency accounts, high-speed transfers on local rails, and integrated spend management, we empower you to operate without borders. Explore the product and see how Airwallex can support your business growth.

Frequently asked questions about business bank accounts in the UK

Do I legally need a business bank account in the UK?

Limited companies legally require a separate business account to maintain distinct legal identity, while sole traders are strongly advised but not legally required to have one.

How long does it take to open a business bank account in the UK?

Fintech platforms like Airwallex typically approve applications in 1-3 business days, while traditional banks take 2-4 weeks and often require in-person visits.

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

Business bank accounts are offered by licensed banks covered by FSCS protection, while business accounts from electronic money institutions like Airwallex are FCA-regulated with different regulatory frameworks.

Can I open a UK business account if I'm not a UK resident?

Yes, it is possible. Many fintech providers are more flexible than traditional banks regarding director residency. However, you will typically still need a UK-registered business entity. Requirements vary, so it is important to check with each provider.

Which business account is best for frequent international payments?

For businesses that frequently transact internationally, accounts from providers like Airwallex or Wise are often most suitable. They are built with global payment networks that use local rails to reduce transfer fees and speed up payment times, and they offer more competitive foreign exchange rates than most traditional banks.

Sources and references

1. https://www.un.org/en/observances/micro-small-medium-businesses-day

2. https://wise.com/gb/pricing/business

3. https://www.revolut.com/business/business-account-plans/

4. https://www.revolut.com/business/multi-currency-accounts/

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

6. https://www.business.hsbc.uk/en-gb/products/foreign-currency-account

7. https://www.business.hsbc.uk/en-gb/solutions/accepting-card-payments-from-our-customers

8. https://www.business.hsbc.uk/en-gb/products/small-business-bank-account

9. https://www.barclays.co.uk/content/dam/documents/business/Accounts/B0213_BAR0324764636-001_PN8206607_9918661_UK_0324_WCAG.pdf

10. https://www.barclays.co.uk/business-banking/business-abroad/foreign-currency-accounts/

11. https://www.barclays.co.uk/business-banking/accounts/rates-and-charges/

Disclaimer: We updated this article in Q3 2025. We based the information on our own online research and 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. This research is reviewed every six months. If you would like to request an update, feel free to contact us at [email protected].