If you are starting your own small business then you'll want to ensure that you keep costs to a minimum whilst providing the best services possible and in the UK there are many free business bank accounts that can be had that don't charge you anything and require no minimum balances.
It's easy to apply and you get all the regular services such as telephone and online internet banking and many of these accounts are free for life.
The Barclays Business Banking Account offer a completely fee free bank account for all businesses for up to 24 months and then free automated credits and debits for the life of your account. You can apply for this account online or download their information pack for further details and services offered. Full information on this account
Almost all banks offer an introductory free period of banking which expires after a certain amount of time but a few banks in the UK offer this for the life of your business so compare all banks before your sign up with one. Use our online business banking comparison charts to see what each bank offers as a free period and what their charges are.
See below for all the UK banks and what they offer business customers.
HSBC offer a completely fee free bank account for all businesses for life. All charges for debits and credits are completely free and there are no catches. You can apply online or download their information pack for full details.
Lloyds offer a completely fee free bank account for all businesses for life. All charges for debits and credits are completely free and there are no catches. You can apply online or download their information pack for full details.
Royal Bank of Scotland offer a completely fee free bank account for all businesses for life. All charges for debits and credits are completely free and there are no catches. You can apply online or download their information pack for full details.
Cooperative offer a completely fee free bank account for all businesses for life. All charges for debits and credits are completely free and there are no catches. You can apply online or download their information pack for full details.
Alliance and Leicester offer a completely fee free bank account for all businesses for life. All charges for debits and credits are completely free and there are no catches. You can apply online or download their information pack for full details.
The Santander free business banking offer provides fee free day to day business banking for existing and switching customers forever subject to monthly limits on some transactions such as cash deposits. For this account you can only apply over the telephone so if you want to apply online then choose the account from their sister company Alliance and Leicester.
Obviously if you are a high street shop and need to make cash deposits on a weekly or even daily basis then you'll want a bank with many branches or at least a branch near you. Most of the mahor banks offer this service and you'll know what is near to you but did you also know that the Alliance and Leicester bank accept money via post office branches ? If you can get to post offices at quiet times then this may also be an option for you.
All the major banks offer free banking for at least 18 months if you are a start up business but only three will offer you this for the life of your account and business. You can compare all accounts here so you know what charges you can expect to pay.
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