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 high quality and the best rate.
However, the catch is 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 prioritize their customers and provide multiple services based on customer types.
Top 10 Small Business Bank Account Options for 2025
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: Barclay
In the financial world, Barclay 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 of PIN code is requested it will be £6 and for transfer of any amount through the bank charges them £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.
- Online Website: home.barclays.com
- Software Name: Barclays Mobile Banking
Offers for Small Business
- The Barclay Bank provides free invoicing and software from freshBook1, 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 till 1 year of 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 organizations.
The Organization 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.
- Website Name: www.hsbc.com
- Software Name: HSBC Online Banking
Offers for Small Business - The Bank loves its business-related consumers and provides them with charge-less business banking for a certain period after opening an account.
- There are cash backs on business credit cards which promote the use of it.
- There are multiple loan types that a customer can ask for.
- The company does not call 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 big four commercial financial banking organizations 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 his 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.
- Website Name: www.llyodsbank.com
- 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 Bank 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 max a customer can withdraw 5 times a day more than that will require additional charges.
- 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 their customer to approach them digitally.
The services can be less compared to other bank apps or websites but they make sure that is provided perfectly.
- Website Name: www.standardbank.com
- 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 which 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 for it 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 the 2.5% of the withdrawal or £3.
Transfer Limit
The Nationwide bank has allowed their customers to transact up to £100,000 per transaction £100,000 in a 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 be required for their interaction process with the bank.
- Website Name: Www..nationwide.co.in
- Software Name: Nationwide Mobile Banking
Offers for Small Business
- The Nationwide Bank cares for its customer’s business. So they provide different initiative offers often for them to grow.
- The Bank has multiple loan offers that a customer can choose.
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 a 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 have a maintenance charge. In which they charge 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.
- Website Name: www.rbs.co.uk/
- 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 of 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.
- Website Name: www.sc.com/en/
- 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 often.
Rating: 3.9 out of 5 stars shown on Glassdoor.
8. Bank Name: Close Brothers
In the run of top 10 bank accounts Close Brother has secured a seat because of its key characteristics as a finance 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 also, 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 their financial services more swift and easy for the consumers. So, they offer various financial solutions and support through their online banking and mobile app, Like you can easily view balances make payments transfer funds, and many more with just a simple click.
- Website Name: www.closebrothers.com
- 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 many 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 bank in the UK NatWest serves millions of consumers with their products and services in which 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 recognized charge information is 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 finance 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 clear out customers any problem or issue in need as soon as possible.
- Website Name: www.nationwest,com
- 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
This bank of the UK offers several banking options for their customers which are divided into two parts one is 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 fulfill their financial needs.
Fees
The Metro Bank is quite famous among the people and one of the reasons is their minimum fees.
For debit card payments they only charge £0.50 and if the person needs to make an emergency transfer through faster payments 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 many more.
- Website Name: www.metrobankonline.co.uk
- 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 deposition 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 process. Update all the things and activate the card and all slowly after getting it.
Key Factors to Consider
Understanding the Unique Needs of Your Small Business
Every business has its unique kind of requirements which are necessary to make it grow and develop over time.
To understand those unique needs the business leader should very well know his business model and industry.
Then to make the business grow he has to strategies in which many factors will be involved and a factor known as financial health will be highlighted.
Examining Fees, Transaction Limits, and Account features
Before opening an account at any bank as a customer you should contact the interest bank you want to open the account.
Also, should be knowledgeable enough about the account type information. After you contact the bank they will brief you about the important thing like examining fees, transaction limits and account features.
Evaluating Online Banking and Mobile App Capabilities
Facing this rapid change each business is getting digitalized which influences the banking institutions too.
Now each bank has its mobile software and a website by which it provides its banking solution online.
As technology advances the banks also adapt to it to keep on the competing scale in the financial market.
Considering the Customer Service and Support option
When we consider banks for investing or saving our money we surely look for various aspects of them, especially their customer service and support options.
Therefore, the first thing that the banks can consider is making their mobile app.
If they want to attract the younger generations they want more accessibility and flexibility for their banking services through chat or in-app messaging.
Conclusion
In conclusion, selecting the best small business bank account in the UK for 2025 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 prioritize low fees, easy integration, or excellent customer service. Evaluate your requirements carefully, and choose a banking partner that empowers your business to thrive.
