Many people wonder which bank would be best for them to have an account.
Today’s advanced financial banking systems have multiple types of accounts, which have multiple features. Those features can confuse anybody.
In this article, the Top 10 best small business bank accounts are mentioned for small-scale businesses that are new and searching for banks that can provide them with their required services at a high quality and the best rate.
However, the catch is that regular people who are also searching can go and read this to find themselves a perfect bank, as the banks which are mentioned below are the best and prioritise their customers and provide multiple services based on customer types.
Top 10 Small Business Bank Account Options for 2026
Here in this article, we bring you the top 10 small business bank account options with their other services and details about those banks in brief so that you can decide which one is best for you.
1. Bank Name: Barclays
In the financial world, Barclays banking institutions are one of the oldest, and their operation covers retail banking, corporate banking, investment banking, and wealth management.
Account types Available
- Personal account
- Business account
- Investment account
- Loan account
Fees & Charges
The Barclay Bank charges their customers for stopped cheques, £12.50 for banker’s draft, £15.3, if a replacement PIN code is requested, it will be £6 and for transfer of any amount through the bank charges £25.3.
Transfer Limit
There are multiple ways a person can transfer money. Online banking allows customers to transfer £100,000 location does not matter.
If the transfer is done into a familiar account known by the bank, it will be £250,000 per transaction. As for the third party transfer, the limit is £50,00 to provide security.
Online Banking and Mobile Application
The bank provides its services in both ways, and they are dynamic to make sure the software and website are able to address the customer’s needs.
- Software Name: Barclays Mobile Banking
Offers for Small Business
- The Barclay Bank provides free invoicing and software from FreshBooks, which is worth £260 per year.
- The Bank provides a special relationship manager to the business to provide financial support whenever required.
- There are no charges on E-banking for business for a 1-year duration after opening.
Rating: On the Glassdoor website, it is rated 4 out of 5 stars.
2. Bank Name: HSBC
Hong Kong and Shanghai Banking Corporation is one of the global banking and financial services organisations.
The organisation tries their best to provide support to every customer, which makes it one of the best banks for business accounts in the UK.
Account Types Available
- Credit account
- Loan account
- Current account
- Savings account
- Insurance account
- Investment account
Fees
HSBC has set a common limit on each activity done by the customers based on account types. Generally, for any kind of activity, they charge £20, but there are exceptions for student accounts and overdraft users.
Transfer Limit
Each HSBC account comes with a default payment limit which is around £25000. However, student accounts are subject to attention. So their payment limit is lower, around £5,000.
Online Banking and Mobile Application
HSBC online banking has every solution a customer wants to search for. The website interface is created after considering customer experiences.
The same goes for the mobile application; they have put their best efforts into it.
- Software Name: HSBC Online Banking
Offers for Small Business - The Bank loves its business-related consumers and provides them with charge-free business banking for a certain period after opening an account.
- There are cash backs on business credit cards, which promote their use.
- There are multiple loan types that a customer can ask for.
- The company does not call customers multiple times to customers they just call them once a week for updates.
Rating: At Glassdoor, it is 3.8 out of 5
3. Bank Name: Lloyds Bank
In the United Kingdom, there are the big four commercial financial banking organisations of which Lloyd is one. which makes this a top-rated bank for small businesses.
Account Types Available
- Current account
- Savings account
- Business account
- Student account
- Credit account
Fees
The Lloyd Bank charges their customers for handling the accounts, in which they deduct every month an amount up to £100.00 = £2.00 over £100.00 = £7.00
Transfer Limit
There are different limits on different methods of payment. The online payment limit is £25,000; those who directly use the bank to transfer money have a limit of £100,000, and phone transfers £10,000 max.
Online Banking and Mobile Application
The Lloyd online banking makes sure that the customer can connect and properly place their order of products and services.
However, the mobile app provides certain features in which checking balances, transferring, paying bills, setting up direct debits, and applying for products and services are the main ones.
- Software Name: Lloyds Bank Mobile Banking
Offers for Small Business
The Bank offers new business-driven client accounts, loans, credit cards, and insurance.
Rating: At Glassdoor, this bank is rated 4.9/5
4. Bank Name: Santander UK
In the field of retail and commercial banking, Santander UK is famous. Not only that, the bank has a wholly-owned subsidiary of the major global Banco Santander International, which makes them offer holistic private banking and investment services.
Account Types Available
- Current account
- Saving account
- Investment account
- Loan account
Charges
The bank has different banking charges for credit card use based on the duration and purpose.
If the card is used for no balance transfer on a regular day, it will make the customer charge 2.95%, and it same for the long-term balance transfer.
Transfer Limit
- ATM limit is 300, and a customer can withdraw 5 times a day more than that will require additional charges.
- The online transfer limit is up to 25,000, and max a person can transfer in a day is 100,000.
Online Banking and Mobile Application
The bank has both online and mobile applications for its customers to approach them digitally.
The services can be less compared to other bank apps or websites, but they make sure that it is provided perfectly.
- Software Name: Standard Chartered Mobile
Offers for Small Business
The Santander UK bank provides different offers multiple times based on situations and events. However, the common offer a customer gets when opening an account is free of cost.
Also, they provide a cash-back system on their credit card and allow customers to access extra cash while using overdrafts.
Rating: As per Glassdoor, this bank is 3.8 out of 5, which is quite good.
5. Bank Name: Nationwide
Nationwide Building Society is a well-known financial institution in the United Kingdom. The bank has the title of serving customers all over the world with a total of 16 million members.
Account Types Available
- Current account
- Savings account
- Mortgage account
- Loan account
- Insurance account
- Investment account
Charges
The Nationwide Bank claims that they charge a common fee for all their withdrawal system. The fee is 2.5% of the withdrawal or £3.
Transfer Limit
The Nationwide bank has allowed its customers to transact up to £100,000 per transaction, £100,000 per day.
Online Banking and Mobile Application
Nationwide has a huge member pool, due to which they have invested a good amount of consideration into their digital platform, and the app and online platform have every need a customer can have for their interaction process with the bank.
- Software Name: Nationwide Mobile Banking
Offers for Small Business
- The Nationwide Bank cares for its customers’ business. So they provide different initiatives and offers, often for them to grow.
- The Bank has multiple loan offers that a customer can choose from.
Rating: This bank is 3.9 out of 5 at Glassdoor.
6. Bank Name: Royal Bank of Scotland
The Royal Bank of Scotland (RBS) is a renowned leading bank in the financial market of the UK. The bank also has a rich, diverse history of business in which it has served its customers like royalty.
Account Types Available
- Personal Account
- Business Account
- International banking
These three account types have other types to which customers can choose.
Fees
Instead of having multiple charges for their services, the bank has decided not to do that and has a maintenance charge. In which they charge a monthly £10.95.
Transfer Limit
The bank has set a total transaction limit for each account up to 100,000 per transaction, to a minimum of 1p.
Online Banking and Mobile Application
The bank has created a mobile app available on IOS and Android. The software and online platform both provide 24/7 customer support.
- Software Name: Royal Bank of Scotland Mobile Banking
Offers for Small Business
- The Royal Bank of Scotland provides free business accounts to start-up companies to encourage them.
- There are different loan offers provided by the bank to their customer, in which they provide £25,000 at a fixed interest rate.
Rating: This bank has secured a 4.4 out of 5 stars at Glassdoor.
7. Bank Name: Standard Chartered
This bank is special in overall aspect as this bank was started in 1853 in three big countries and then took over the Standard Bank of South Africa and spread its presence in more than 70+ countries today date and is famous as Standard Chartered Bank.
Account Types Available
- Personal account
- Business account
- Private account
These three accounts have subaccounts which have different features.
Fees
The bank does not have many charges or fees on its services; however, as per the knowledge, it charges KES 35 – EUR 0.30 for SCB ATM cash withdrawals.
Transfer Limit
There are different limits on different transfer types on third-party application transfers. The bank decided to allow up to 1,000,000 HKD If a transaction is done towards funds, they have set a limit of 300,000 HKD, and for bill payment, they have set a limit of 999,999 HKD.
Online Banking and Mobile Application
Standard Chartered Bank’s online banking platform and mobile app allow every customer to manage their finance conveniently and efficiently.
Both platforms have triple-authenticated security and a KYC system for customers to get linked with them.
- Software Name: Standard Chartered Mobile
Offers for Small Business
Free Business banking for limited periods, discounted loan rates, and cashback rewards on business spending are some of the common offers that the bank provides.
Rating: 3.9 out of 5 stars shown on Glassdoor.
8. Bank Name: Close Brothers
In the run of the top 10 bank accounts, Close Brothers has secured a seat because of its key characteristics as a financial institution.
In which the customers can find special marketing offers, high-touch services, a wide range of products, plus online capabilities.
Account Types Available
- Current account
- Savings account
- Investment account
- Loan account
- Mortgage account
Fees
The bank tries to maintain its competitiveness through charges, so they provide 0.25% charges on £500,000, then when the price rises from £50000 to £1000,000, they offer 0.175% only.
Transfer Limit
Now, since there are several account options, their transaction limits are also different. However, on average, they offer £250-500 ATM limits for all account types.
Online Banking and Mobile Application
The bank wanted its financial services to be more swift and easy for the consumers. So, they offer various financial solutions and support through their online banking and mobile app, so you can easily view balances, make payments, transfer funds, and much more with just a simple click.
- Software Name: Close Brothers Mobile Banking
Offers for Small Business
This bank understands the unique challenges a small business can face due to limited financial resources. Therefore, they offer several solutions to support their growth. These solutions that they provide include loans, assets, finance, business banking services, and many more.
Rating: At Glassdoor, this bank is rated 4.1/5
9. Bank Name: NatWest
As a prominent figure in the retail and commercial banking sector in the UK, NatWest serves millions of consumers with their products and services, in they try to provide their best effort to make the journey smooth.
Account Types Available
- Current account
- Savings account
- Credit account
- Loans account
- Mortgage account
Charges
There is only one recognised charge of information available, which is a Non-terline transaction fee of 2.75% to all kinds of ATM withdrawals regardless of account type.
Transfer Limit
There is a transfer limit of 100,000 per transaction with a minimum limit of 1p.
Online Banking and Mobile Application
NatWest financial institutions have both online and software apps. In which each product and service is designed to be approached.
Additionally, there are customer support options available to help customers with any problem or issue in need as soon as possible.
- Software Name: NatWest Mobile Banking
Offers for Small Business
- The NatWest time to time, creates different offers for small businesses in which their digital business-related offers are more.
- They have multiple loan types and offers, subject to those loans.
- They provide relationship managers to business customers.
Rating: This bank is 4 out of 5 as per Glassdoor.
10. Bank Name: Metro Bank
This bank has also competed in the retail and commercial market of the United Kingdom since 2010, well known as Metro Bank. This Bank is famous due to its customer-centric approach and innovative service.
Account Types Available
The Bank of the UK offers several banking options for their customers, which are divided into two parts: personal banking and the other is business banking for white-collar people.
One option is for normal people for their personal needs, and the other option is for businesses of all sizes to fulfil their financial needs.
Fees
The Metro Bank is quite famous among people, and one of the reasons is their low fees.
For debit card payments, they only charge £0.50, and if the person needs to make an emergency transfer through Faster Payment, the bank only charges £1.00.
Transfer Limit
The Bank is very concerned about the money of the consumers, so they set a daily limit of PHP 250,000 for selected deposit accounts, especially the new Metro Bank accounts.
Online Banking and Mobile Application
The bank wants to maintain its competitive position in the financial industry, so through its online platform and mobile app, it provides its consumers with a lot of financial services.
Therefore, through their mobile app, you can easily view your account balance and transactions, make payments and transfers, access consumer support, and much more.
- Software name: Metro Bank Mobile Banking
Offers for Small Business
- Free business current account for a limited period
- Cashback on business debit card spending
- Discounted loan rates
Rating
3.5 out of 5 stars is what this bank got at Glassdoor.
Guidelines on Applying for a Bank Account as a Business Entity
Identifying a perfect banking service and applying it can be difficult so here is a basic guideline for you so that you can easily navigate through the procedures of opening a bank account for your business requirement.
- As a business representative, you have to make sure that all the papers and documents related to the business are with you for proving and that you know your business structure very well.
- Search for a bank in which a business bank account type is available (your account type can be different). Then go and visit them with all the papers and your business plan.
- For opening an account, there will be charges and a deposit amount. So, make sure you ask them about it and have it by the time of opening.
- Read all the terms and conditions carefully. Then sign anywhere.
- After that, the opening will be in progress. Update all the things and activate the card and all slowly after getting it.
Key Factors to Consider
Understand Your Business Needs
- Every small business has unique financial requirements.
- Know your business model and industry to make informed banking decisions.
- Financial health plays a key role in a long-term growth strategy.
Check Fees, Limits & Features
- Compare account fees, transaction limits, and included features.
- Contact banks directly to understand the details of each account type.
Evaluate Digital Banking Tools
- Ensure the bank offers reliable online and mobile banking.
- Look for apps with user-friendly interfaces and essential features.
- Banks must keep pace with tech to remain competitive.
Customer Service & Support
- Accessibility and flexibility are vital for younger business owners.
- Strong customer support is essential, especially for small businesses.
- Mobile apps with live chat or in-app messaging are a big plus.
FAQs
- What fees should small businesses expect from current business bank accounts in the UK?
Many providers charge monthly maintenance fees, transaction fees, fees for physical cheques or cash deposits, and overdraft or FX fees. Checking bundles, hidden charges, and whether free tiers exist are essential. (Use the latest provider comparisons for accurate examples.) - Do I need a business bank account, or can I run my business off a personal account?
Legally, sole traders often can use personal accounts, but mixing business and personal funds complicates accounting, taxes, and may violate bank terms. Also, proper business accounts offer features like invoicing, business credit, and protections that personal accounts don’t. - How hard is it to switch business bank accounts, and are there switching incentives?
Many UK business owners are willing to change: recent research shows ~73% would consider switching if the new account offered lower fees, better features, or improved service. Some banks offer free first-year maintenance or incentives. - How do challenger banks compare to traditional banks for small business customers?
Challenger banks tend to offer more digital tools, faster turnarounds, lower fees, and more transparent pricing. Traditional banks often provide better in-branch support, physical branches, and sometimes stronger credibility for certain types of funding or loans. Recent data confirms that challengers supplied 60% of lending to smaller businesses in 2024. - What trends in business banking should small businesses watch for in 2026?
Look out for increased demand for sustainability-linked finance, growing use of digital banking tools, fee pressure (especially overdrafts / FX), and a shift towards specialist / Challenger banks over big high-street ones. Also, equity investment and the number of deals have softened slightly in 2024 vs prior years.
Conclusion
In conclusion, selecting the best small business bank account in the UK for 2026 is crucial for managing your finances effectively and supporting your business growth.
With these 10 top options, you can find an account tailored to your needs, whether you prioritise low fees, easy integration, or excellent customer service. Evaluate your requirements carefully, and choose a banking partner that empowers your business to thrive.
