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

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

Take 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 for the 15th year in a row at the FDs’ Excellence Awards³
Simple everyday banking with 24/7 access – by phone, online or using our mobile app⁴
An extensive UK branch network, to make deposits and cash withdrawals easier⁴
Access to 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 an attachment with a sign-up link will be sent to you with your confirmation email once your company has successfully been incorporated with Companies House.

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

Revolut Business Banking

Business accounts made easy.

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 order 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 - Do less banking.

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: Select Tide during the order process and 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

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: Select Cashplus during the order process and 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

The business account that does your books.

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 order 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

¹1Free day-to-day 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 – December 2018.

³FDs' Excellence Awards 2005–2019 supported by Real Business. For more information visit lloydsbank.com/bankoftheyear.

⁴We don’t charge you for the Mobile Banking app but any applicable account transaction charges will still apply. You should also check with your mobile operator as they may charge you for certain services such as downloading or using the app. 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. Online for Business registration required. Services may be affected by phone signal and functionality. Use of Mobile Banking is subject to our Online for Business 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. Registered in England and Wales no. 2065.

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.