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Business Bank Accounts In Today’s Mad World

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Due to the surge in demand for government backed loans, frustratingly almost all high street banks have paused new business bank account applications – This is a particular headache if you’ve formed a new limited company and urgently require a business bank account. 

However, there’s a solution!  A multitude of online banks welcoming new applications – During today’s challenging climate, online banking also has the appeal of allowing you to manage everything digitally, without visiting a branch – Online banking is becoming the ‘new normal’

With easy to use mobile / web based applications, greater flexibility,  virtual card options / money pots and lower fees & no application costs, there are multiple options out there! 

Check out our comparison table to find the best online business bank account for you!

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[av_table purpose=’tabular’ pricing_table_design=’avia_pricing_minimal’ pricing_hidden_cells=” caption=” responsive_styling=’avia_responsive_table’ av-medium-hide=’aviaTBav-medium-hide’ av-small-hide=’aviaTBav-small-hide’ av-mini-hide=’aviaTBav-mini-hide’ id=” custom_class=” av_uid=’av-2ttkjxj’]
[av_row row_style=’avia-heading-row’][av_cell col_style=’avia-highlight-col’][/av_cell][av_cell col_style=”]Starling[/av_cell][av_cell col_style=”]Monzo[/av_cell][av_cell col_style=”]Revolut[/av_cell][av_cell col_style=”]Tide[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Monthly Fee[/av_cell][av_cell col_style=”]£0[/av_cell][av_cell col_style=”]£0 (pro £5)[/av_cell][av_cell col_style=”]£0-£100 Package Dependent[/av_cell][av_cell col_style=”]£0[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Application Fee[/av_cell][av_cell col_style=”]£0[/av_cell][av_cell col_style=”]£0[/av_cell][av_cell col_style=”]£0[/av_cell][av_cell col_style=”]£0[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Cash Deposit[/av_cell][av_cell col_style=”]Yes – Post Office[/av_cell][av_cell col_style=”]Yes – Paypoint[/av_cell][av_cell col_style=”]No[/av_cell][av_cell col_style=”]Yes – Paypoint or Post Office[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Cash Deposit Fee[/av_cell][av_cell col_style=”]£3 under £1000 / 0.3% over £1000[/av_cell][av_cell col_style=”]£1 per deposit[/av_cell][av_cell col_style=”]N/A[/av_cell][av_cell col_style=”]£1 – Post Office / 3% – Paypoint[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Cash Withdrawal Fee[/av_cell][av_cell col_style=”]£0.50 per withdrawal[/av_cell][av_cell col_style=”]3% fee if more than £200 over 30 days[/av_cell][av_cell col_style=”]2% of withdrawal amount[/av_cell][av_cell col_style=”]£1 per withdrawal[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Business Application Integration[/av_cell][av_cell col_style=”]Xero, FreeAgent & Quickbooks[/av_cell][av_cell col_style=”]Xero, FreeAgent & Quickbooks * Only with Pro (£5/m)[/av_cell][av_cell col_style=”]Xero, FreeAgent, Slack[/av_cell][av_cell col_style=”]Xero, Quickbooks, Sage[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Multi-User Access[/av_cell][av_cell col_style=”]Yes – 2 users (PSC)[/av_cell][av_cell col_style=”]Yes – 3 users * Only with Pro (£5/m)[/av_cell][av_cell col_style=”]Yes – 2 for free, 10+ on paid plans[/av_cell][av_cell col_style=”]No – Can have 35 team cards for spending[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]FSCS Protection[/av_cell][av_cell col_style=”]Yes, up to £85,000[/av_cell][av_cell col_style=”]Yes, up to £85,000[/av_cell][av_cell col_style=”]No[/av_cell][av_cell col_style=”]No[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=’avia-highlight-col’]Multiple Currencies (Hold & Exchange)[/av_cell][av_cell col_style=”]£5/m for USD
£2/m for EUR[/av_cell][av_cell col_style=”]No[/av_cell][av_cell col_style=”]Yes – 28 currencies[/av_cell][av_cell col_style=”]Yes – 30+ currencies[/av_cell][/av_row]
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View Comparison PDF
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Take advantage of our introductory Company Formation offer – 50% discount – £47.50 plus VATContact us here
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