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.
10 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
Get £250 cashback when you open a Tide business bank account
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 £250 cashback when you open a Tide business bank account by 31st July with code BCA250. 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 |
No monthly account fee and free UK digital banking*
HSBC UK Small Business Banking Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone & Branch
Set-up time
9 days
*Free UK digital banking means day-to-day standard electronic transfers made through Business Internet Banking and HSBC UK Business Banking app are free. Other charges apply e.g. cheques and CHAPS. See Business Price List for details. Subject to application, eligibility, credit check and T&Cs.
AER stands for Annual Equivalent Rate and shows how much interest you’d earn on money in the account over a year, assuming the interest is compounded (i.e., interest is added and then earns interest itself).
More Information
Good to know
- With no monthly account fee, this is a cost-effective option if you’re just starting out or looking to keep overheads low.
- Your money is protected under the Financial Services Compensation Scheme (FSCS), so your funds are covered up to £120,000 if the bank goes out of business – giving you extra peace of mind.
- App, online, phone, Post Office and in-branch account management – giving you flexible, multi-channel access to your money wherever and however you prefer to bank.
- Free standard electronic transfers made through Business Internet Banking on your primary current account – helping you cut costs on everyday business banking while keeping things simple and transparent
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £6,500,000 |
| 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
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
- 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 |
Free MTD for Income Tax tool
Starling sole trader 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. In-built tools to set money aside for tax, categorise payments and upload receipts. Free UK transfers and ability to accept payments online or in-person. 24/7 customer support.
Ts&Cs apply. Must be a UK resident operating as a sole trader.
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, automate expenses, and separate money into Spaces for overheads or tax.
Eligibility
| Availability | Sole traders |
| Maximum balance | Unlimited |
| 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 |