The best business bank account for a limited company isn’t always the one that suits a sole trader. Once you’ve got more than one director, a bookkeeper who needs access and payments that need sign-off, the cheapest account can quickly cost you time.
We compare six UK options (Starling, Monzo, Tide, Revolut, Mettle and HSBC) on fees, team access, accounting integrations and overseas payments. We also show where a specialist provider like WorldFirst fits if you pay suppliers abroad.
What a limited company needs that a sole trader doesn’t
The individual running a business is legally the same as the business itself in the case of a sole trader, which is why many sole traders have a simple account, and some use a personal one if their bank permits it. A limited company, on the other hand, is a separate legal entity, and this is what changes the type of account you should choose.
Multiple directors and owners: Since a large number of limited companies have more than one director or shareholder, your account should enable you to add more than one authorised person, specify what each person can see and do, and deal with the verification checks that each person has to pass.
When it comes to approvals and team access, you’ll need to have control established as soon as another person is taking part in spending. Make sure you look into the payment approval processes, users’ permissions (such as view-only access, preparing payments and approving payments), spending limits, and staff cards that you should be able to freeze or restrict.
Accounting integrations: Your company must keep accurate records, prepare its accounts and submit a Corporation Tax return. When an account is linked to your accounting software or is set up to export clear statements, it helps to save time and reduce the number of errors at the end of the year.
The need to pay overseas suppliers out of company funds: When limited companies import goods, employ overseas contractors or purchase from international marketplaces, they may need to send money to another country. Fees, exchange rates and the speed of the transaction can all be important here. As a limited company is a separate legal entity, overseas supplier payments should be made from company funds and follow the company’s payment approval procedures. This also helps maintain a clear record of business transactions and makes it easier for the accountant to reconcile payments.
How to compare accounts for a limited company
If you’re looking at the best business account options available to limited companies, you should compare them based on the same criteria rather than on marketing claims.
1. Fees and pricing
Look at the monthly fee, as well as any free introductory period, and find out what happens when it ends. Next, examine the costs for each transaction — these include Faster Payments, Direct Debits, cash deposits and international payments. Although account fees are only one aspect of the issue, you should estimate your expected level of monthly activity and then calculate the total cost.
2. Multi-director access
Find out how many users you can add and verify that each user is given their own login and, where available, a card. Also find out if every director must be a signatory and whether you can restrict the actions that employees or bookkeepers can carry out.
3. Approvals and controls
When more than one person is responsible for authorising larger payments, you should confirm whether the account has dual authorisation or approval rules. This reflects one of the key distinctions between a standard account and an account designed for a company that has a team.
4. Accounting integrations
Make sure that the account is connected to the accounting software that your accountant uses, for example, Xero, QuickBooks or FreeAgent, and verify how the bank feeds are kept up to date. Also check how easy it is to download statements.
5. Overseas payments
When making international payments, you should compare the transfer fee, the exchange rate margin above the market rate, the currencies that are supported and the typical delivery times. Although a low transfer fee might be offset by a poor exchange rate, you should consider the total cost to the supplier.
If your limited company regularly pays overseas suppliers, it may also be worth considering a specialist international payment provider alongside your main business bank account. WorldFirst is one option to explore, particularly for businesses making payments in different currencies.
6. Protection and regulation
Find out if the company in question is a bank or an authorised payment or e-money institution, and check how your money is protected. Eligible deposits held with UK-authorised banks may be covered by the Financial Services Compensation Scheme (FSCS), subject to its rules and limits. Payment and e-money institutions generally safeguard customer funds under a different arrangement. Ensure that you understand which of these arrangements applies to you.
For more information, see the FSCS website.
Best business bank accounts for limited companies compared
| Provider | Monthly fee | Multi-director and team access | Accounting integrations | FX fee / exchange-rate margin | Overseas payments | Protection |
| Starling Business | £0 monthly fee for the standard business account; additional services may incur charges. | Multi-director access is supported. Separate Team Access is available for employees, accountants and bookkeepers. Directors must be listed on Companies House and be UK-based. | Xero, QuickBooks and FreeAgent. See Starling’s accounting integrations. | 0.4% conversion fee on international payments. No Starling fee on card payments in foreign currencies. A margin applies to closed-market exchange rates. | International payments to accounts in 34 countries. Starling also advertises fee-free card spending and cash withdrawals abroad. Check its fee schedule for applicable international transfer charges. | UK-authorised bank. Eligible business deposits are protected by the FSCS up to £120,000 in total per depositor. |
| Monzo Business | Lite: £0; Pro: £9/month; Team: from £25/month. | Team access, employee expense cards, spending controls and payment approvals are available, depending on the plan. | Xero and other accounting integrations; availability depends on the plan. | Varies according to currency and transfer; applicable charges are displayed before confirmation. | International payments in 30+ currencies; applicable fees and exchange rates are shown before payment. | UK-authorised bank; eligible deposits are FSCS protected up to £120,000. |
| Tide | Lite: £0; Smart: £12.49; Pro: £27.49; Max: £69.99/month. | Team Access is available on all plans, including Lite (Free), with free view-only access. Enhanced permissions (Admin or View, Draft, Send and Pay) are available on paid plans, with limits depending on the plan. | Xero, Sage, FreeAgent and QuickBooks, among other Open Banking-compatible software. | 1.50% (Lite), 1.25% (Smart), 0.75% (Pro) and 0.50% (Max). | International payments are available, including SWIFT transfers. Fees and foreign exchange markups vary by plan. | Tide bank accounts are provided by ClearBank; eligible deposits are FSCS protected up to £120,000. Some Tide e-money accounts instead use safeguarding arrangements. |
| Revolut Business | Basic: £10/month; Grow: £35/month (£30/month billed annually); Scale: £125/month (£90/month billed annually); Enterprise: custom pricing. | Team members, role-based permissions and spending controls are available; features and allowances vary by plan. | Xero, Sage, QuickBooks and 45+ other integrations. | 0.6% for currency exchanges exceeding the plan’s monthly FX allowance; additional charges may apply outside market hours. | International payments available; transfer fees and allowances vary by plan. | Eligible deposits held with Revolut Bank UK Ltd may be FSCS protected up to £120,000. Check the legal entity holding the account. |
| Mettle | £0 monthly fee. | Limited companies can have up to two owners, but only one owner can access the account. | FreeAgent included, subject to at least one qualifying transaction per month; Xero and QuickBooks can also be connected. | 1.5% conversion fee on applicable incoming international payments. | Incoming international payments supported; outgoing international payments are not currently available. | Eligible deposits held with National Westminster Bank plc trading as Mettle are FSCS protected up to £120,000. Mettle e-money accounts are not FSCS protected. |
| HSBC Small Business | £0 monthly account fee; additional transaction and service charges apply. | Multiple users can be set up with specified entitlements through Business Internet Banking. | Check availability of supported accounting software and bank-feed integrations. | Depends on the currency, payment type and applicable exchange rate. | Domestic and international payments available; international payment charges apply. | UK-authorised bank; eligible deposits are FSCS protected up to £120,000. |
Note: Correct as of 5 November 2026. Prices and features are subject to change. FSCS protection applies only to eligible deposits and is subject to the scheme’s rules and limits. Check each provider’s current terms, eligibility criteria and account-specific protection arrangements before applying.
Also, FX fees and exchange-rate margins vary between providers. Some providers charge a separate international transfer fee, while others apply a currency conversion margin. The costs shown above are indicative and may depend on the currency, payment route and account plan. Check the provider’s latest pricing before making an international payment.
How WorldFirst can help a UK limited company
Make payments to suppliers in their local currency: WorldFirst states that businesses can send payments in over 100 currencies to more than 210 countries and territories. This allows UK businesses to pay overseas suppliers in their preferred currencies. Payment availability and delivery times depend on the destination, currency and payment route.
Simplified payments to suppliers in China: WorldFirst offers dedicated payment routes to Chinese bank accounts. Some payments can arrive on the same day, subject to payment cut-off times and the beneficiary bank. Transfers between WorldFirst accounts can be instant, making it easier to pay suppliers who also use the platform.
Bulk payments to suppliers: WorldFirst allows businesses to schedule payments and send up to 200 payments in a single batch. This can help companies manage multiple supplier invoices more efficiently rather than processing each transfer individually.
Forward contracts to manage exchange-rate risk: Eligible businesses can use foreign exchange forward contracts to lock in an exchange rate for a future transaction for up to 24 months, subject to the currency pair and WorldFirst’s terms. This can help businesses plan international supplier payments and manage currency fluctuations. However, you must complete a forward contract at the agreed rate, so you won’t benefit if rates improve. Most forward contracts need a 5–10% deposit, and you may be asked to top it up if rates move significantly against you (a margin call).
Accounting software integration: WorldFirst supports integration with accounting software such as Xero and NetSuite. This allows businesses to connect their World Account with their accounting systems and simplify financial administration and transaction reconciliation.
WorldFirst FX fee: FX fee of up to 0.50% for major currencies (0.30% for your first six months as a new customer). Transfer fees range from £0.27 to £23.00 per payment, depending on currency and destination. Fees correct as of 5 November 2026.
WorldFirst isn’t a bank. World First UK Limited is authorised by the FCA as an Electronic Money Institution, so funds held in a World Account aren’t covered by the FSCS. Instead, they’re safeguarded: kept separate from our own operating funds with banking partners, and never used for lending or investing.
Starling Business
Starling is worth considering for new limited companies because its main GBP account has no monthly fee and supports major accounting packages. It is appropriate for companies that mainly carry out their banking in sterling. However, eligibility rules apply, and certain company structures may not qualify. Check Starling’s current eligibility requirements and account limits before applying.
Key features:
- No monthly fee for the standard GBP business account, including free UK transfers for day-to-day transactions
- Real-time mobile app features such as instant notifications, spending analytics and the ability to manage physical and virtual cards
- Optional EUR account (£2/month) for eligible businesses. Starling isn’t currently accepting new USD account applications.
- Integrations with accounting platforms like FreeAgent, plus smart budgeting tools within the app
- FSCS-protected eligible deposits up to £120,000
Cons: Multi-currency account options are limited to EUR and USD, with additional monthly fees. The USD account is currently unavailable to new applicants.
Monzo Business
The Lite account from Monzo is suitable for everyday banking, while the Pro plan, advertised at £9 per month, includes features such as multi-user access, tax pots, invoicing and accounting integrations. Its Team plan starts at £25 per month This means that a limited company with a bookkeeper or several directors may need to choose a paid plan, depending on the features it requires.
Features and Benefits:
- Free Lite plan or paid Pro plan for advanced functionality
- Instant notifications for payments and expenses with smart categorisation
- Send and receive payments in 30+ supported currencies, with funds converted to your GBP account.
- Receipt capture, invoice creation, and integration with bookkeeping tools
- Loans and overdrafts for eligible sole traders
Cons: No support for multi-currency accounts
Tide
Tide offers business payment services alongside invoicing, expense tracking and other business tools, and is known for its digital account-opening process. However, check the legal entity providing the service and the applicable safeguarding arrangements: Tide’s payment services should not automatically be treated as a bank deposit protected by the FSCS. The fees charged for transactions on a free plan can accumulate for accounts that are busy.
Tide charges separate SWIFT payment and foreign exchange (FX) fees, depending on your account plan. On its Lite plan, the SWIFT payment fee is £10 per transaction, with a 1.50% FX fee. Smart members pay £7.50 per SWIFT payment and a 1.25% FX fee, while Pro members pay £5 and a 0.75% FX fee. The charges fall to £3 per SWIFT payment and a 0.50% FX fee for Max members. These charges are applied alongside the interbank exchange rate on the day of the transaction.
Features and Benefits:
- Send EUR payments across 36 SEPA countries and receive payments in 30+ currencies via SWIFT.
- Virtual cards and real-time expense tracking tools for managing daily spending and recording receipts
- Built-in invoicing and accounting integrations to simplify reconciliation and monitor cash flow
Cons: Limited international payment options and multi-currency features
Revolut Business
Revolut is worth considering for businesses that spend or hold money in more than one currency and need role assignments and spending controls. The number of free local transfers and the available features depend on the plan, so you should compare the allowance with your own transaction volume.
Features and Benefits:
- Manage funds in 25+ currencies and make payments in 35+ currencies across 150+ destinations.
- Issue both virtual and physical team cards with customizable spending controls and real-time monitoring
- Connect with accounting software such as Xero and QuickBooks and automate workflows through the Revolut API
- Send and receive global payments quickly, supporting international suppliers and contractors
Cons: A 0.6% fee applies to currency exchanges exceeding the plan’s monthly FX allowance.
Mettle
Mettle, which is part of the NatWest group, offers a free account with FreeAgent included, subject to its current terms. It is intended for sole traders and eligible small limited companies with up to two directors, which means that some companies may eventually outgrow it.
Features and Benefits:
- No monthly account maintenance fee.
- Get FreeAgent accounting software included, subject to making at least one transaction a month from your Mettle account.
- Create and send customised invoices, track payments, categorise transactions and upload receipts.
- Use Money Pots to set aside funds for tax and other business expenses.
- Receive international payments in 30 currencies, with incoming funds converted into GBP before being credited to your account.
- Connect with other accounting software, including Xero and QuickBooks.
Cons: No outgoing international payments. Incoming international payments above £10 incur a £4 fixed fee, plus a 1.5% currency conversion fee where applicable. Cash deposits through the Post Office cost £2.75 per deposit. Only one owner can access the account, even if the limited company has two owners. Eligibility is restricted to qualifying UK-based sole traders and limited companies with up to two owners.
HSBC Small Business
HSBC is a high-street banking option for businesses that would like access to business banking support, branch services or cash-handling facilities. Make sure to check the current fees, whether an introductory period applies to your circumstances, and how long the onboarding process takes.
Features and Benefits:
- No monthly account maintenance fee and free standard UK digital transactions.
- Manage business finances through HSBC’s Business Banking app, Business Internet Banking and telephone banking.
- Apply for business borrowing of up to £100,000, subject to eligibility, affordability and credit checks.
- Allow multiple people to manage the business account through desktop and mobile banking access.
Cons: Cash and cheque handling charges may apply. CHAPS, international and SEPA payments are excluded from the free standard UK digital transaction allowance and may incur additional charges. The account is subject to eligibility criteria and HSBC’s terms and conditions.
Types of account to consider
High-street banks: These provide access to branches, cash-handling services and lending options. This is appropriate for companies that deposit cash or wish to have access to a relationship manager. Fees may apply to certain services, and the process of onboarding can take longer.
Digital business banks: These are usually faster to set up, app-based and frequently cheaper, with accounting integrations available. They might be suitable for service businesses and start-ups. If you have just incorporated your company, you may want to look at our guide on the best business bank account for start-ups to get some advice from that perspective.
Specialist international payment providers: If you regularly make payments to suppliers in other countries, a specialist provider can be used alongside your main account so that international payments become more efficient.
A large number of limited companies may benefit from having two accounts — one main business current account for their everyday banking and another specialist account for making overseas payments. Whether this arrangement is worthwhile depends on the company’s transaction volumes, costs and requirements.
It is an option available to UK limited companies that source goods from overseas suppliers. The WorldFirst’s World Account is a multi-currency business account designed for sending and receiving international payments and is generally used in conjunction with a primary UK business account, rather than as a replacement for it.
For UK limited companies that need to pay overseas suppliers from company funds, WorldFirst offers a specialist solution for managing international supplier payments.
Open your World Account for free today to manage payments to your overseas suppliers.
Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources we believe to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute our own judgement as of the date of publish and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information. World First UK Limited is a UK registered limited company with company number 05022388 and is authorised by the Financial Conduct Authority (“FCA”) as an Electronic Money Institution under the Electronic Money Regulations 2011 with FCA Firm Reference number 900508. The registered address for World First UK Limited is 2nd Floor, International House, 1 St Katharine’s Way, London, E1W 1UN.
Sources
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