Business Bank Account

We work with a number of banking partners from traditional high street banks to challenger banks who provide a range of business banking services to help run your business successfully

There are many reasons why opening a business bank account today with your order would save you time and money. Some of these reasons are as follows:

  • Keep your finances clear for HMRC – Ensuring your personal bank account is separate from your business bank account makes it easier for you to complete your annual tax returns, VAT returns and expenses.
  • Look professional – Having a business bank account in your business name makes you more credible to your clients.
  • Required by law – If your business is operating as a limited company (ltd) and not as a sole trader you will need to have a business bank account to separate your personal finances from your business finances.

During the order process you will be offered a choice of appropriate banking options to complete your company formation order. Some of our banking partners will contact you after forming your company, others will have a simple online application taking you less than 5 minutes to complete!

Read below details of the different banks we partner with and how the account opening process will work.

Lloyds Business Bank Account | Revolut | Tide | Cashplus | Countingup

Lloyds Business Bank Account

Lloyds Business Bank Account

Simple everyday banking that lets you focus on what matters, running your business. With a range of time saving tools and tips Lloyds Bank can back your ambition.

Running your own business can be a challenge but you can face your next step with confidence with a Lloyds Bank Business Current Account.

  • 18 months’ free day-to-day business banking1
  • 9 out of 10 approval rate on loan and overdraft applications2
  • A UK-based management team on hand to guide and support you
  • Voted Business Bank of the Year at the FDs’ Excellence Awards for the past 14 years3
  • Simple everyday banking with 24/7 access – by phone, online or using our mobile app4
  • Extensive online resources including business guides through our Business Knowledge Box and current research on the Business Resource Centre

This account is available for businesses with an annual turnover of up to £3 million.

You're eligible for a Lloyds Bank Business Current Account if:

  • You require an account for business use
  • You are Limited by Shares company or a Limited Liability Partnership
  • You are over 18
  • You are a UK Resident

How it works: Select Lloyds during the order process, and a sign-up link will be shown on the final confirmation page and within the email that you’ll receive confirming your company has successfully been incorporated with Companies House.

For full details of your terms and conditions please view the document here.

Revolut Business Banking

Revolut

Revolut offers a global business current account for easy international payments, with a prepaid business card and an open API.

Why choose a Revolut business account?

  • Cutting edge multi-currency current accounts – Hold, receive and exchange 29 currencies without any ridiculous bank charges.
  • Easy, fast payments – Transfer money to another Revolut account instantly and for free. Saving on transfer fees when you make payments to businesses around the world.
  • Spend your time wisely – Payment approval lets your team raise payments that need to be approved. Bulk payments allow you to make up to 1,000 payments with a single click. Scheduled payments allow you to, well, schedule payments!
  • Prepaid Corporate Cards – Easily issue and track employee expenses on your dashboard when you issue cards to your team.
  • Get Connected – Revolut Connect allows you to connect and integrate with popular software like XERO, Slack, Zapier and more.
  • Open API for Business – Our Open API allows you to seamlessly integrate your Revolut business account into your workflow. Use it to automate cross-border business payments, send payouts to clients or employees and monitor transactions according to your business’ needs.

The benefits of opening a Revolut business account are:

  • Spend in over 150 currencies at the Interbank Exchange rate
  • Instant settlements
  • Cross border payments
  • Multicurrency cards
  • Integrations
  • Business open API

How it works: Select Revolut during the checkout process, and a sign-up link will be shown on the final confirmation page and within the email you’ll receive confirming your company has successfully been incorporated.

Tide Business Account

Tide

1 in 12 business current accounts opened in the UK was with Tide, within a year of their launch. From consultants to cupcake makers, coders to coat makers, glass-blowers to graphic designers, Tide is banking for modern businesses.

Tide offers you a sort code and account number in 5 minutes. Makes accounting easier with auto-tagged transactions and you can apply for credit in minutes, receiving money in your account instantly if you're approved.

Join Tide today and get back to doing what you love while experiencing:

  • Fast: Tide gives you an account number and sort code in as little as 5 minutes
  • Focused: Designed for growing businesses and freelancers
  • Simple: No monthly fees and just 20p for transfers
  • Secure: Safe, powerful and loved by members

A business current account with Tide offers you the following benefits:

  • Instant credit (if approved) – access up to £15,000 with flexible access and no hidden cost
  • Easy accounting – connect seamlessly to your accounting software
  • Card control – order free team cards and manage via the Tide app
  • Quick invoicing – create and pay invoices anytime, anywhere with just a tap

How it works: An email and text will be sent as soon as the company has been incorporated providing instructions on how to download the app to open your account. This process generally takes around 5 minutes unless you are required to submit further ID documentation.

Cashplus Business Banking

Cashplus

Faster, simpler and smarter banking services that work around your needs with no credit check required to open a business bank account. Cashplus have crafted a business account that works hard to save you time and money.

Designed to give small business owners the leg up you need to build an account that works for you. With the ability to add pre-approved credit products (subject to status) to get your cash-flow moving, track your expenses in real-time and manage your account in an app with just a few taps.

Cashplus offers:

  • 100% approval guaranteed once you are verified
  • Instant Banking – Account number and sort code ready to use
  • No barriers – no credit checks to open your account
  • Borrowing up to £2,000 if approved

Cashplus is the UK's original challenger to high street banks and was named Paybefore's 'top challenger bank 2017'. It is a name you can trust with access to award winning services from:

  • Faster payments and transfers using the mobile app or online service
  • Pay in & withdraw cash at any UK Post Office
  • Business iDraft (subject to eligibility and affordability)
  • Integration with Accounting software
  • No monthly fees – just £69 annually
  • Fraud monitoring
  • UK based customer services team

How it works: An email will be sent to you as soon as your company has been incorporated containing your new company account details, and asking for additional ID documentation if required.

Countingup Business Account

Countingup

Countingup is built to make running your business easier and more enjoyable, with business current accounts free to get started with and fast to open you can get a hassle-free business current account today.

Opening a business bank account with Countingup means you will benefit from:

  • Free time to work on your business
  • Your accounts taking five minutes per week
  • Your data accessible anytime, anywhere & securely backed up in the cloud
  • Being stress free and in control of getting paid on time
  • Knowing how your business is performing in real time and confidence you are paying the correct tax

Countingup offers the following features to start, run and grow your business:

  • Business current account opened in 5 minutes
  • Corporate contactless MasterCard
  • A delightful user experience on our mobile app
  • Automated bookkeeping
  • Professional invoices
  • One system for accounting and banking

How it works: Select Countingup during the checkout process, and a sign-up link will be shown on the final confirmation page and within the email you’ll receive confirming your company has successfully been incorporated.

Lloyds Footnotes

1Free business banking includes cheques, standing orders, cash, UK Sterling Direct Debits, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits.

29 out of 10 is based on formal credit applications and is an average across the period January 2017 – December 2017.


3FDs' Excellence Awards 2005–2017 supported by Real Business. For more information visit lloydsbank.com/bankoftheyear.

4We don't charge you for Mobile Banking but your mobile operator may charge you for certain services such as downloading or using the app, so please check with them. You will need a smartphone running iOS or Android. The app is not compatible with some older versions of the operating systems ‐ check the Apple App Store or Google Play for more details. Business Internet Banking registration required. Services may be affected by phone signal and functionality. Use of Mobile Banking is subject to our Business Internet Banking Terms and Conditions.

Occasionally we may need to carry out essential maintenance, resulting in some interruption to service.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

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