10 best online banks in UK for businesses and freelancers [2025]
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Opening a business bank account in the UK once meant dealing with endless paperwork, frequent branch visits and lengthy delays. Today, setup can take just hours, but speed alone doesn’t make an account valuable.
The best online banks in the UK for 2025 do more than provide a login and sort code. If you do business overseas, they help cut FX costs, integrate with accounting platforms, and manage invoices or supplier payments across multiple currencies. Some even automate tasks like VAT reminders or bulk payouts.
The challenge is that features vary widely. Some accounts are free but have limited functionality. Others excel at multi-currency support but don’t scale with growing SMEs.
That’s why we compared the 10 best UK online banks for freelancers and businesses in 2025 – including fintech options – focusing on setup speed, monthly fees, FX margins, multi-currency support, integrations and deposit protection.
You’ll find out which account matches your business needs, from a freelancer invoicing clients abroad to an e-commerce brand expanding internationally to an SME looking for advanced security.
10 top online accounts in the UK for freelancers and businesses
We’ve outlined the best online banks in the UK for 2025, so you can select the ideal digital solution:
| Provider | Monthly fee | UK transfers | FX/conversion | Local receiving accounts | Best for |
|---|---|---|---|---|---|
| WorldFirst | None | Local transfers from £0.30 | 0.50% over mid-market rate for major currencies | 20+ currencies | E-commerce, importers exporters, and SMEs needing low-cost multi-currency accounts |
| Wise | None | Bank transfers carry a small variable fee shown upfront | Mid-market + transparent fee (varies by currency) | 40+ currencies | Cross-border freelancers, SMEs with overseas clients or suppliers |
| Starling | Free (Business Toolkit add-on £7/month) | Free | Not stated | Optional EUR £2/month, USD £5/month | Small UK businesses, freelancers, sole traders wanting FSCS + modern app |
| Tide | Free / £12.49 / £24.99 / £69.99 | 20p on Free; included in higher plans | 1.5% markup (lower on Pro/Max) | GBP, EUR, USD (stated) | Freelancers, micro-businesses, small teams; modular banking |
| Revolut | £10 / £30 / £90 (Enterprise: custom) | Allowance-based: e.g., Basic = 10 free local transfers/m, then £0.20 each | FX free up to plan limit, then 0.6%; transfers £0.20 local / £5 international after allowance | Local details for GBP, EUR, USD; send/receive 35+ currencies | Firms needing multi-user governance & expense control |
| Monzo | Lite Free, Pro £9, Team from £25 | UK bank transfers are free | Spending abroad free (Mastercard rate) | GBP account; no separate foreign-currency local details | Sole traders & small companies primarily UK-based |
| ANNA Money | Plans from £0; no charge in inactive months. | Local UK transfers included; plan rules apply | Not stated | GBP, EUR, USD inbound supported | Freelancers, sole traders, micro-businesses needing admin automation |
| HSBC Kinetic | No monthly fee; free UK digital banking; international fees apply | Free UK digital banking (domestic payments) | International payments available; HSBC rates/fees apply | GBP account (no foreign local details) | Sole traders or one-director companies in HSBC |
| NatWest | No fixed monthly fee minimum; 2 years free for eligible switchers | Tariff-based fees for some transactions; details in the charges booklet | International payments available; fees per tariff | GBP account; FreeAgent is included while the account is open | Businesses wanting a full banking package and branch access |
| Lloyds | 12 months free; then £8.50/month | First 100 electronic payments free/month, then £0.20 each | International payments available; fees per tariff | GBP account (no foreign local details) | Established companies wanting robust infrastructure |
Information is accurate as of September 2025. Fees and features may vary by region.
1. WorldFirst
WorldFirst provides businesses that trade across borders with a straightforward way to collect, hold, and pay in multiple currencies, eliminating the need to manage separate bank accounts.
The World Account makes it easy to manage international revenue streams, particularly for e-commerce sellers and exporters who deal with global customers and suppliers.
Unlike traditional banks, WorldFirst focuses on the practical challenges UK businesses face when expanding internationally. You can receive payments in local currencies, batch-pay overseas suppliers and manage currency risk with advanced FX tools.
With no setup or monthly fees, it’s become one of the best online accounts that UK companies choose when they need simple, reliable access to global markets.
Key features:
- Local receiving accounts: Free currency accounts with local bank details in 20+ currencies (GBP, USD, EUR, AUD, CAD, CNH, HKD, JPY and more.)
- Marketplace and platform integrations: Collect from 150+ marketplaces and platforms for free (Amazon, Etsy, TikTok Shop, Shopify and more)
- FX and risk management tools: Convert at real-time rates or lock in rates to manage volatility
- Bulk payments: Make up to 200 payments in one go
- World Card: Multi-currency card for business travel and expenses in 15 major currencies
Best for:
E-commerce sellers, importers, exporters, and SMEs that need low-cost multi-currency accounts to simplify global operations.
Pricing:
- Account: Free
- Monthly/account fees: None
- Receiving payments: Free in supported local currencies (GBP, USD, EUR, AUD, CNH, SGD, JPY)
- Currency conversion: FX margins from as low as 0.2%, tailored by volume
- Transfer fees: Local transfers from £0.30; same-currency transfers between World Accounts are free
- Holding balances: Free to hold 20+ currencies
Protection:
WorldFirst UK holds FCA authorisation as an e-money institution (FRN 900508).
2. Wise
Wise offers a multi-currency business account managed via web or app, designed for companies that transact globally without wanting to maintain separate foreign bank accounts.
Wise solves the pain point of unpredictable hidden FX margins and foreign banking overhead. You get access to local account details in multiple currencies, convert at close-to-market rates and leverage batch payments or API tools, without paying recurring subscription fees.
Key features:
- Hold and convert 40+ currencies; receive payments in major currencies (GBP, USD, EUR, AUD, CAD, SGD, etc.) via local bank details
- Business debit Mastercard (first one free) for spending balances directly or in the required currency
- Batch payments and invoicing, plus integrations with Xero, QuickBooks, Shopify and more
- API (“Borderless API”) for automating payouts and financial workflows
Best for:
Cross-border freelancers, SMEs with overseas clients or suppliers and businesses seeking lower FX costs and multi-currency flexibility.
Pricing:
- A one-off fee of £45 applies to enable local account details
- No monthly fee
- Conversion/transfers: Mid-market rate + a transparent fee shown in-app (varies by route)
Protection:
Wise is an FCA-authorised e-money institution. Funds are safeguarded (kept in segregated accounts) in accordance with regulations, but not covered by the Financial Services Compensation Scheme (FSCS).
3. Starling Bank
Starling offers a complete UK business current account (a licensed UK bank) with digital convenience. It’s a strong option for businesses prioritising domestic banking support, security and FSCS protection, while still offering useful features.
Starling addresses the gap where many digital banks lack full deposit protection or local banking support. It offers an easy-to-use mobile app, straightforward banking features and the security of being a regulated UK bank.
Key features:
- “Spaces” (sub-accounts) to ring-fence money for VAT, savings or projects
- 24/7 in-app support, cheque imaging and digital tools for managing everyday banking
- Optional Business Toolkit add-on (£7/month) for improved features (accounting tagging, VAT reminders)
- Optional euro (≈ £2/month) or USD (≈ £5/month) accounts for limited multi-currency use
Best for:
Small UK businesses, freelancers and sole traders who want complete banking protection, no account fees and a modern mobile banking experience with occasional foreign transactions.
Pricing:
- Account: Free
- UK transfers: Free
- ATM: Free UK withdrawals (daily limit £300)
- Cash deposits: 0.7% at the Post Office (min £3)
Protection:
Starling is a fully licensed UK bank regulated by the PRA and FCA. Deposits in GBP (and eligible accounts) are FSCS-protected up to £85,000.
4. Tide
Tide offers UK business current accounts (in partnership with ClearBank) with tiered plans. It appeals to small businesses looking for a digital banking experience with flexible tiered pricing.
Tide solves the problem for businesses needing multiple cards, expense management and in-app features, while keeping core banking simple. Its modular structure lets you scale without paying for features you don’t use early on.
Key features:
- Real-time app support, instant in-app card creation, expense management and invoicing
- Multiple staff debit cards, transaction categorisation, accounting integrations (Xero, QuickBooks, Sage)
- Payment links and seamless onboarding with accounting tools
- Tiered plans unlocking more free transfers, cashback and multi-card support
Best for:
Freelancers, micro-businesses and small teams that want modular banking without heavy commitments.
Pricing:
- Free plan: No monthly fee
- Smart: £12.49/month, Pro: £24.99/month, Max: £69.99/month
- UK transfers: 20p on Free, included in higher plans
- FX: 1.5% markup (lower on Pro/Max)
- Card abroad: 2.75% on Free, 0% on Smart+
Protection:
Tide accounts run via ClearBank for eligible deposits. Deposits are FSCS-protected up to £85,000 for eligible amounts held at ClearBank.
5. Revolut
Revolut Business provides a digital, multi-currency fintech account with tiered subscription plans and advanced expense management controls. It leans more on features and control than on traditional banking.
Revolut targets businesses that need granular spend control, multi-user access and integration with financial workflows.
Key features:
- Hold 25+ currencies and get local account details (GBP, EUR, USD, etc.)
- Corporate cards (virtual or physical) with spend controls, approval workflows and analytics
- Accept card payments (Revolut BillPay) for a fee
- Free currency conversion quotas per plan (Basic, Grow, Scale)
Best for:
Firms comfortable with fintech models, especially those needing multi-user spending governance, expense control and frequent foreign currency usage.
Pricing:
- Basic: £10/month, Grow: £30, Scale: £90, Enterprise: custom
- FX: Free up to plan limits, 0.6% FX after plan limit
- UK Faster Payments: Free
- ATM: Free up to plan limits, then 2%
Protection:
Revolut is FCA-authorised as an e-money institution. Funds are safeguarded, not FSCS-protected.
6. Monzo
Monzo Business provides UK business current accounts with tiered pricing for additional capabilities.
Monzo addresses the need for core banking simplicity combined with digital improvements for invoicing, teams and international spending. It’s ideal for businesses operating mainly in the UK but needing occasional foreign transactions.
Key features:
- Debit Mastercard with fee-free spending abroad
- Instant UK transfers, push notifications, in-app receipts and transaction tagging
- “Pots” for earmarking cash for VAT, goals or expenses
- Cash and cheque deposit support (via PayPoint and mobile cheque imaging)
Best for:
Sole traders or small companies primarily UK-based who want a digital account with optional upgrades for invoicing or team workflows.
Pricing:
- Lite: Free
- Pro: £9/month
- Team: £25/month
- Transfers: Free
- Spending abroad: Free (Mastercard rate)
Protection:
Monzo is a UK bank. Deposits up to £85,000 are FSCS-protected.
7. ANNA Money
ANNA (Absolutely No Nonsense Admin) offers an all-in-one business account that focuses on administration, invoicing, expense tracking and business reminders. It targets freelancers and micro-businesses who want automation bundled with their banking.
ANNA addresses the burden of administration by automating invoicing, tax reminders, receipt scanning and expense categorisation, so users spend less time on bookkeeping.
Key features:
- Built-in invoicing, VAT & tax tools, receipt scanning, expense categorisation
- Payment links, direct debits under DD guarantee
- Multiple Visa debit cards (staff)
- Live 24/7 in-app support
Best for:
Freelancers, sole traders and micro-businesses that want banking and lightweight admin automation bundled in a single app.
Pricing:
- Pay As You Go: Free
- Plans start at £0/month; higher tiers available; no monthly fee is charged in months when the account is inactive
- Big Business: £49.90/month
- No fee in inactive months
Protection:
ANNA is not a bank. It operates through e-money institutions (partner entities) and employs safeguarding for customer funds, rather than FSCS protection.
8. HSBC Kinetic
HSBC Kinetic is a mobile-first current account offering from HSBC UK, aimed at sole traders and one-director companies. It offers a hybrid model that combines digital features with the backing of a major bank.
HSBC Kinetic solves the issue of having features and support from a large banking group in a simplified app form.
Key features:
- App-based account with cash flow forecasts, budgeting insights and snapshots
- Contactless Mastercard debit card included
- Ability to apply for an overdraft (subject to credit)
- Mobile cheque deposit
Best for:
Sole traders or one-director limited companies that want a modern banking experience within the HSBC ecosystem.
Pricing:
- Monthly fee: Free
- Overdraft: Available (fees apply)
- No monthly fee; free UK digital banking. International payments available (fees apply)
Protection:
HSBC UK is FSCS-protected up to £85,000.
9. NatWest
NatWest offers a comprehensive business current account with both digital and traditional banking support, catering to companies that require more extensive banking services while still seeking online convenience.
It addresses needs for overdrafts, relationship banking, branch access and integrated banking services combined with digital tools.
Key features:
- Full-featured banking: Faster Payments, BACS, CHAPS, debit card, overdraft options
- App and online access with business tools
- FreeAgent accounting software licence included while the account is open
- 24/7 app and telephone support, plus branch and relationship manager services
Best for:
UK businesses that want a complete banking package (loans, support, access), along with digital convenience and deposit protection via a major high-street bank.
Pricing:
- No fixed monthly fee minimum, but transaction fees apply per tariff
- New business switching: 2 years free everyday banking (if turnover ≤ £2 million)
- Standard banking charges apply after the free period
Protection:
NatWest (as a UK bank) is FSCS-protected on eligible deposits up to £85,000.
10. Lloyds
Lloyds provides a standard business current account with digital features and branch infrastructure, often with promotional free banking for new customers.
Lloyds satisfies businesses that need stability, widespread branch/ATM access and complete banking support, while still offering online tools for daily management.
Key features:
- Online and mobile banking, with free electronic payments up to a point
- Staff debit cards, business insight tools and commercial card options
- Access to credit (overdrafts, loans) via Lloyds Banking Group
- Deposit and withdrawal support through branches and ATMs
Best for:
Established UK companies across sectors that prefer a bank with strong infrastructure, familiar services and hybrid digital/traditional access.
Pricing:
- 12 months free everyday banking for new customers, then £8.50/month
- First 100 electronic payments free each month; then £0.20 per transaction
- Cash deposits charged at £0.85 per £100
Protection:
Lloyds Bank (part of Lloyds Banking Group) is FSCS-protected on eligible deposits up to £85,000.
What to look for in the best online banks UK businesses can open in 2025
Based on these options, it’s clear that if you want a business account you can open and manage entirely online, the best online banks and accounts in the UK share a few key qualities.
Here’s what to look for:
1. A fully digital set-up process
The best online banks in the UK let you apply, upload documents and verify your identity entirely online. Approval should take no longer than one or two working days, allowing you to start trading quickly without the need for phone calls or branch visits.
2. Always-on access and control
Modern business accounts should give you 24/7 access through a central dashboard. Mobile-friendly controls, real-time balance updates and the ability to make payments or check transactions without needing to contact support are all essential.
3. Clear financial visibility
The best online banks UK businesses use should make managing money simpler. You should be able to see all balances in one place, track payments clearly and connect your account directly with tools like Xero or QuickBooks for accounting and reconciliation.
4. Transparent and fair pricing
A strong business account should not charge you simply for maintaining it. The best online banks in the UK offer free set-up, no ongoing monthly fees and clear costs for extras such as international transfers or currency conversion.
5. Instant virtual cards for spending
Virtual cards are a safer and more flexible way to manage business expenses. The best providers let you issue them instantly for advertising, subscriptions or team spending and provide the ability to pause or cancel them immediately if needed.
6. Responsive customer support
Even the most digital account should still offer real human help when something goes wrong. Look for providers that offer live chat or email support with knowledgeable staff who can resolve issues promptly.
7. Extra features for global businesses
If your business sells online or pays suppliers abroad, added benefits can make a real difference. These include local currency accounts, fast transfers that don’t rely on the SWIFT network and integrations with platforms such as Amazon, Shopify or TikTok Shop.
Ready to simplify your business banking?
Join thousands of UK freelancers and businesses already managing payments, invoices and currencies with WorldFirst.
With over $300 billion sent globally, WorldFirst makes it easy to collect, hold and pay in multiple currencies from a single account.
Open your World Account for free today in under 30 minutes and take control of your international business finances.
Jennifer leads marketing for WorldFirst in the UK, where she drives brand, acquisition and event initiatives that engage with businesses trading internationally. With over 20 years' experience in financial services and publishing, she brings a strategic focus on brand storytelling and customer-first marketing across complex, regulated industries.
Her goal is to support long-term customer success through content and campaigns that address the challenges faced by growing businesses."
Jennifer Dodd
Author
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