Find our best bank accounts for sole traders
As a sole trader, your time is precious – and managing your money shouldn’t take up all of it. A dedicated sole trader bank account can help separate your business and personal expenses, making tax time easier and your financial life simpler. Making your business banking work for you.
Zempler Bank
Business bank accounts that are easy to use and FSCS regulated, bank with Zempler - a British Bank Awards 2023 finalist.
Join the 650,000 other businesses Zempler helped get off the ground
Why Zempler
Minutes to apply
No monthly fee
9 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
Get £150 cashback when you open a Tide business bank account
Tide Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Register your business for £14.99 through Tide with Companies House, Get a Free instant saver account which gives you 3.81% AER when you sign up for your Tide business bank account. Eligibility and T&Cs apply.
More Information
Good to know
- Fast and easy account setup - open an account within minutes which saves time and gets your business up and running quickly
- No monthly fees - only pay for what you need, then upgrade as your business grows
- Expense management and invoice tools - you can easily track your business expenses and create invoices in the app for faster invoicing
- Access a competitive savings account - get more for your money by earning up to 4.38% AER (variable) with the Tide Instant Saver and access funds at any time
Eligibility
| Availability | Limited companies & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Get £200 Cashback and Earn up to 4.38% AER (variable). Ts&Cs Apply
Tide Business and Savings Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
To be eligible for the £200 Cashback offer, open both a Tide Instant Saver and Tide Business Bank Account. Ts&Cs Apply.
More Information
Good to know
- Easy account set up – open both a Tide Business Bank Account and Tide Instant Saver to get £200 cashback (T&Cs apply)
- Make your money work harder – earn 3.81% AER (variable) with no cap on deposits and instant access to your savings
- Only pay for what you need – no monthly fees on your business account
- Manage your money from anywhere – track expenses, create invoices, and oversee finances easily in the Tide app
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Exclusive - Get your first 6 months of Pro completely free!
Monzo Business Lite Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
1 Day
Monzo Business customers get free UK bank transfers, effortless accounting via receipt uploads, 24/7 customer support and money management with Pots. They can receive payments through a single link. Earn 1.50% AER (variable) on money in your Instant Access Pots. Interest paid monthly. T&Cs apply.
Must be UK Resident and a limited company or sole trader.
More Information
Good to know
- Free UK bank transfers - these fees can add up quickly, so it helps to keep costs down
- 24/7 customer support - if you have any issues there’s a team ready to help which means you can focus on running your business
- Money management - separate money with Pots, receive payments through a single link and effortless accounting via receipt uploads to support your business
- Unlock interest - earn 1.50% AER (variable) on funds in your Instant Access Pots and interest is paid monthly so you can easily see your money grow
Eligibility
| Availability | Limited companies & sole traders |
| UK Resident |
Best Business Banking Provider – British Bank Awards 2023 Finalist
Zempler Bank Business Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Account Integrations: Clear Books, CashFlow, FreeAgent, QuickBooks, Reckon1, Sage, Xero
Zempler Bank, formerly Cashplus, for sole traders, those just starting out & small businesses. Instant payment notifications, UK telephone support, cashflow tracking & integrated accounting, FSCS protection up to 85,000 on eligible deposits.
Eligibility criteria apply, other fees and charges may apply, for UK businesses only, 18+ and UK resident, T&Cs apply.
More Information
Good to know
- No account fee - keep costs low with a free business bank account
- Easy application - you can apply for this account in minutes and then use the online banking app when you’re approved
- UK customer support - pick up the phone and chat to someone if you have any issues, so you can get back to running your business as soon as possible
- Cashflow tracking, integrated accounting and instant payment notifications - these extra features can help you to run your business effectively
Eligibility
| Availability | Limited companies, partnerships, sole traders & charities |
| Registration | Business registered & trading in UK |
| Maximum balance | £500,000 |
| Max. annual turnover | Unlimited |
| UK Resident |
Moneyfacts Business Current Account 2023 5 Star Rating
Virgin Money Business Current Account
Account fee
25 months free, then £6.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5-7 Days
25 months' fee free day-to-day banking for start-ups and switchers (excludes CHAPS and international payments).. Includes free MasterCard business savings, debit card cashback, plus digital money management tools.
This account is available for eligible businesses with a turnover of less than 6.5m. Please allow up to 72 hours from registering your business with Companies House, before starting an application. Virgin Money is a trading name of Clydesdale Bank PLC
More Information
Good to know
- Created for you - this account is for start-ups, sole traders and limited companies with an annual turnover of less than £6.5m
- Integration with Sage, Xero and Quickbooks - helps to streamline accounting and reduces human error, plus there’s automated business spending categorisation
- No fees - 25 months’ fee-free day-to-day banking for start-ups and switchers which helps to reduce costs (excludes CHAPS and international payments)
- Expert mentoring and guidance from Virgin Startup - access a supportive community and special events to help your business scale
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £6,500,000 |
| UK Resident |
Free day-to-day online business banking
Virgin Money M Account for Business
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-4 Days
Free online day-to-day business banking (excludes CHAPS and international payments). For business with annual turnover less than £1 million.
Please allow up to 72 hours from registering your business with Companies House, before starting an application.
More Information
Good to know
- No monthly fees – manage your business finances without any hidden charges, helping you keep banking costs low
- 0.25% cashback on debit card purchases – reward your everyday spending and reinvest savings back into your business
- Seamless integration with QuickBooks, Xero, and Sage – automate accounting tasks and streamline your bookkeeping process
- Expert mentoring from Virgin Startup – access tailored guidance and insights to help your business grow successfully
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £1,000,000 |
| UK Resident |
All taxes sorted, try for £3/month
Anna Business Current Account
Account fee
No account fee
FSCS Protection
No
Account management
App, Online, Phone
Set-up time
1 Day
The smartest business account in the UK. All taxes calculated and filed automatically. Invoice managing and receipts scanner. Payment collection link. Up to 35% cashback on selected categories. Set up in under 10 minutes.
More Information
Good to know
- No monthly fees - you only pay for what you use so this helps to control unnecessary expenses
- Setup in under 10 minutes - get your banking online quickly so you can focus on running your business
- Up to 35% cashback on selected categories - make the most of rewards like cashback to boost cashflow
- Discover the benefits of a smart business account - streamline your business with an account that calculates your taxes automatically, creates, sends and chases invoices and comes with a payment link so you can collect payments on the go
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Make and receive international transactions
Card One Money Small Business Account
Account fee
3 months free, then £12.50 per month
FSCS Protection
No
Account management
App, Online, Phone
Set-up time
3 hours
Account Integrations: FreeAgent, Sage, Xero
Provider aims to open your account within a matter of hours with no credit checks, verification of identity and residency only. Available to all business types. Pay in cash and cheques at your local Barclays, make and receive international payments and grow your business effortlessly with Card One Money.
£55 application fee. The Card One Money Business Account is not covered by the Financial Services Compensation Scheme, see product FAQs for more information.
More Information
Good to know
- Card One Money is an FCA-authorised payment institution, not a bank. Funds are safeguarded in segregated accounts but are not protected by the FSCS
- No account fees for 3 months, then £12.50 per month - cost-effective for businesses looking to save on account fees
- Manage and receive international transactions - valuable if you deal with global clients or if you want to expand internationally, enabling smooth cross-border transactions
- App, online, and phone account management - gives convenient access to your account anytime, anywhere
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Free everyday digital business banking*
The Co-operative Bank Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
3 Days
Account Integrations: QuickBooks, Sage, Xero
deal for start ups and growing businesses who bank digitally. Most get a decision in 3 business days.*Charges apply for cash and cheque transactions and other special services e.g. foreign & CHAPS payments, visit website for details. Subject to status, eligibility & T&Cs.
Get free access to ‘Go Get Paid’ app from BankiFi to help you get paid faster, seamless integration with accounting software providers such as Sage, Xero and Quickbooks. Plus, access selected Clover payment terminals for £1 a month for the first 12 months (fees apply).
More Information
Good to know
- No monthly fee – a cost-effective solution for startups and growing businesses looking to bank digitally without overhead charges
- Discounted payment terminals and free Go Get Paid access – this makes it easier to process payments and manage transactions smoothly
- Accountancy software integration – streamline bookkeeping by connecting with your preferred accounting tools, saving time and reducing errors
Eligibility
| Availability | Limited companies & sole traders |
| Registration | UK business address |
| Min. annual turnover | £1,000 |
| UK Resident |