Find our best bank accounts for sole traders
As a sole trader, your time is precious – and managing your money shouldn’t take up all of it. A dedicated sole trader bank account can help separate your business and personal expenses, making tax time easier and your financial life simpler. Making your business banking work for you.
13 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
Get £200 when you open a Tide business account + 6 month free accounting
Tide Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Register your business for £14.99 through Tide with Companies House, Get a Free instant saver account which gives you up to 4% AER when you sign up for your Tide business bank account. Eligibility and T&Cs apply. 1 month free on any paid plan. FSCS-Protected, Bank Account by ClearBank.
Get £200 cashback when you open a Tide business bank account by 4th September with code ACCOUNTING200. T&Cs apply.
More Information
Good to know
- Fast and easy account setup - open an account within minutes which saves time and gets your business up and running quickly
- No monthly fees - only pay for what you need, then upgrade as your business grows
- Free MTD tool included.
- Expense management and invoice tools - you can easily track your business expenses and create invoices in the app for faster invoicing
- Access a competitive savings account - get more for your money by earning up to 4% AER (variable) with the Tide Instant Saver and access funds at any time
Eligibility
| Availability | Limited companies & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Get £200 Cashback and Earn up to 4% AER (variable)
Tide Business and Savings Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Save more, earn more - up to 4% AER (variable). Interest rates are tiered, with the top rate for balances over £1M. Each tiered rate applies to the portion within that range. New Tide members get these rates free for 6 months; after that, your Tide plan’s rates apply.
More Information
Good to know
- Easy account set up – open both a Tide Business Bank Account and Tide Instant Saver to get £200 cashback (T&Cs apply)
- Make your money work harder – earn up to 4% AER (variable) with no cap on deposits and instant access to your savings
- Only pay for what you need – no monthly fees on your business account
- Manage your money from anywhere – track expenses, create invoices, and oversee finances easily in the Tide app
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Best Business Current Account Provider (Moneyfacts 2026) + 6 months free Xero (T&Cs apply)
Virgin Money M Account for Business
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-4 Days
Account Integrations: Xero, QuickBooks, Sage
Free day-to-day online banking (excludes CHAPS and international payments). Unlimited 0.25% cashback on eligible debit card spend and 6 months free Xero (T&Cs apply). Five-Star Rated by Moneyfacts 2025.
For businesses with annual turnover less than £1 million. Limited Companies: allow up to 72 hours from registering with Companies House before starting an application.
More Information
Good to know
- No monthly fees – manage your business finances without any hidden charges, helping you keep banking costs low
- 0.25% cashback on debit card purchases – reward your everyday spending and reinvest savings back into your business
- Seamless integration with QuickBooks, Xero, and Sage – automate accounting tasks and streamline your bookkeeping process
- Compatible with Apple Pay and Google Pay - make contactless payments easily from your phone
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £1,000,000 |
| UK Resident |
Best Business Current Account Provider (Moneyfacts 2026) + 6 months free Xero (T&Cs apply)
Virgin Money Business Current Account
Account fee
25 months free, then £6.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5-7 Days
Account Integrations: Xero, QuickBooks, Sage
25 months' free day-to-day banking for startups and switchers (excludes CHAPS and international payments). Earn cashback and get 6 months free Xero (T&Cs apply). Five-Star Rated by Moneyfacts 2026.
This account is available for eligible businesses with a turnover of less than £6.5m. For Limited Companies, please allow up to 72 hours from registering your business with Companies House before starting an application.
More Information
Good to know
- Created for you - this account is for start-ups, sole traders and limited companies with an annual turnover of less than £6.5m
- Integration with Sage, Xero and Quickbooks - helps to streamline accounting and reduces human error, plus there’s automated business spending categorisation
- No fees - 25 months’ fee-free day-to-day banking for start-ups and switchers which helps to reduce costs (excludes CHAPS and international payments)
- Compatible with Apple Pay and Google Pay - make contactless payments easily from your phone
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £6,500,000 |
| UK Resident |
Tide Business Bank Account (CASS Switch)
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Account Integrations: Xero, Quickbooks, Sage, FreeAgent, Freshbooks, KashFlow, Clear Books, Crunch
FSCS-protected, Bank account by Clearbank. T&Cs apply
More Information
Good to know
- Switch your account easily with CASS – move payments, Direct Debits, and Standing Orders to Tide with the Current Account Switch Service
- No monthly fees - only pay for what you need, then upgrade as your business grows
- Expense management and invoice tools - you can easily track your business expenses and create invoices in the app for faster invoicing
- Access a competitive savings account - get more for your money by earning up to 4% AER (variable) with the Tide Instant Saver and access funds at any time
Eligibility
| Availability | Limited companies & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Join 800,000+ businesses banking with Monzo
Monzo Business Lite Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
1 Day
Monzo Business Lite gives you free UK bank transfers, effortless accounting with receipt uploads, 24/7 customer support and money management with Pots. Accept payments online or in person. 0% AER.
T&Cs apply. Must be a UK resident and a limited company or sole trader. The best of Monzo for your business. A free, streamlined account that makes it easy for your customers to pay, including contactless in-person payments. Lite is always free.
More Information
Good to know
- Free UK bank transfers - these fees can add up quickly, so it helps to keep costs down
- 24/7 customer support - if you have any issues there’s a team ready to help which means you can focus on running your business
- Money management - separate money with Pots, receive payments through a single link and effortless accounting via receipt uploads to support your business
- Unlock interest - earn 1.30% AER (variable) on funds in your Instant Access Pots and interest is paid monthly so you can easily see your money grow
Eligibility
| Availability | Limited companies & sole traders |
| UK Resident |
Get Xero free for 6 months, plus a £200 Amazon gift card. T&Cs apply*
Lloyds Business Account
Account fee
12 months free, then £10.00 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
Up to 8 Days
*Get a free 6-month Xero Business Edition subscription of your choice and a £200 Amazon gift card with most plans, after your first monthly payment (at month 7). For this account you need to be a sole trader, partner or company director and be 18 or over.
After 12 months, there’s a monthly fee of £10. Some fees and transaction charges will apply as soon as the account is open. This offer only applies to the business’s first current account. Lending is subject to status.
More Information
Good to know
- No monthly account fee for first 12 months – keep your banking costs down while you establish your business
- Instant credit decisions of up to £5,000 – with options for a business credit card or business overdraft to support growth
- Free MTD software for sole traders – access HMRC-recognised accounting software to manage tax reporting and stay compliant.
- Manage everything in-app – open your account, apply for credit, and track finances in one place
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | £25,000,000 |
| UK Resident |
Get £200 when you open a Business Bank Account and an eligible savings account*
The Co-operative Bank Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5 Days
Account Integrations: QuickBooks, Sage, Xero
*Offer applies to new Co-operative Bank business customers. Min. balance and transactional criteria applies for up to the first 4 months. Must be a UK resident, 18+ & have a UK business address. Application subject to status, eligibility and T&Cs.
Charges apply for cash & cheque transactions & other special services, e.g foreign and CHAPS payments. Mobile banking subject to eligibility.
More Information
Good to know
- No monthly fee – a cost-effective solution for startups and growing businesses looking to bank digitally without overhead charges
- Discounted payment terminals and free Go Get Paid access – this makes it easier to process payments and manage transactions smoothly
- Accountancy software integration – streamline bookkeeping by connecting with your preferred accounting tools, saving time and reducing errors
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Registration | UK business address |
| Max. annual turnover | Unlimited |
| UK Resident |
Exclusive savings rate and overdraft benefits and rated ‘Excellent’ on Trustpilot
The Co-operative Bank Business Bank Account Plus
Account fee
£10.00 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5 Days
Account Integrations: QuickBooks, Sage, Xero and more
Exclusive savings rate and overdraft benefits. Access to our business toolbox, plus extra exclusive benefits. Charges apply for cash, cheque transactions & other special services. Applicants must be 18+. Mobile banking is subject to eligibility.
Optional overdraft with no arrangement fee on amounts up to £25,000. Arrangement fees apply to only the amount above £25,000. Interest will be charged & where security is required additional security fees may apply (subject to status and eligibility).
More Information
Good to know
- Business toolbox access – get support for your business needs, plus save up to £70 with a Love2Shop voucher when you take out eligible business insurance
- Accountancy software integration – connect seamlessly with platforms like Sage, Xero, and QuickBooks to streamline bookkeeping and reduce admin time
- Bank with confidence – eligible deposits are protected up to £120,000 by the FSCS, and the provider is rated 'Excellent' on Trustpilot (with over 15,000 reviews)
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Free MTD for Income Tax tool
Starling Bank Business Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
1-3 Days
Business account with no monthly fees and free MTD for Income Tax software. Manage tax, payments, and invoices. 24/7 support. And no fees from Starling when spending abroad
Business accounts are available to eligible sole traders, UK‑based Limited Companies (Ltd) and Limited Liability Partnerships (LLP). Applicants and all persons of significant control must be 18+. FSCS protection up to £120,000 on eligible deposits.
More Information
Good to know
- Fully online application - apply for an account from your phone, with no branch visits required
- 24/7 UK support – chat to a fully UK-based team anytime via the app or phone.
- No hidden fees – no monthly charges, UK transfer or ATM fees, and clear fees abroad.
- Stay organised – capture receipts, categorise expenses, and separate money into Spaces for overheads or tax.
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Maximum balance | Unlimited |
| UK Resident |
No monthly account fee for 12 months*
Barclays Business Account (up to £400k turnover)
Account fee
12 months free, then £8.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-5 Days
*No monthly account fee in the first 12 months for new customers, thereafter £8.50 (incl VAT) applies. Other charges apply. Subject to terms, conditions and eligibility. 18+.
12 months' free Sage software available to eligible Barclays Business current account customers. Sage products are provided by Sage. Barclays may receive a fee for introductions. T&Cs apply.
More Information
Good to know
- No monthly account fee for 12 months - save on banking costs during your crucial first year in business. After 12 months, an £8.50 per month fee applies.
- Flexible account management – manage your finances anytime via app, branch, online, or phone.
- FSCS protection up to £120,000 – keep your money safe with financial protection for eligible deposits.
Eligibility
| Availability | Limited companies, partnerships, sole traders & charities |
| Max. annual turnover | £400,000 |
| UK Resident |