Business banking made easy
We’ve partnered with the UK’s top banks and fintech providers to offer you a selection of trusted and flexible banking solutions.
Smart Business Banking: Online Setup with Built-in Tools
- An easy application process - accounts can be opened entirely online with referrals sent as soon as your company is formed.
- Free referrals – a referral to your chosen banking partner is completely free.
- Smart finance tools - a range of modern tools including invoicing, expense management, real-time notifications and tax integrations.
- Secure and trustworthy - each of our partners is authorised and regulated by the Financial Conduct Authority (FCA), ensuring your business finances are protected and managed to the highest UK standards.
Compare business banking partners for UK residents
Below is a side-by-side comparison of our UK business banking partners, covering both established high-street banks and modern digital accounts.
The table outlines free banking periods, overdraft availability, accounting software integrations (Xero, QuickBooks, FreeAgent, Sage), and key features such as invoicing, expense management, multi-currency support, branch access, and relationship management - helping you quickly shortlist the best fit for your business.
| Bank Name | Type | Free Banking Period | Overdraft | Accounting Integration | Key Features |
|---|---|---|---|---|---|
| Traditional Bank | 12 months free (terms apply) | Yes - Xero, FreeAgent, Sage | Face-to-face banking, business loans, overdrafts, digital dashboard | ||
| Digital Account | Free & paid options available | Yes - Xero, QuickBooks | Easy setup, built-in invoicing, multi-currency support | ||
| Digital Account | Up to 6 months free, then plan-based | Yes - Xero, FreeAgent | Automated invoices, expense tracking, 24/7 support, tax reminders | ||
| Traditional Bank | 18 months free (eligibility applies) | Yes - Multiple platforms | Full business banking range, overdraft, credit cards, branch access | ||
| Digital Account | Free basic account, optional upgrades | Yes - Xero, QuickBooks, Sage | Expense management, auto categorisation, quick online application | ||
| Digital Account | Free Lite & £5/month Pro plan | Yes - Xero, QuickBooks, FreeAgent | Real-time spending alerts, multi-user access, mobile-first features | ||
| Traditional Bank | 12 months free (conditions apply) | No, but free accounting software included | Instant credit decision, multi-user access, built-in invoicing | ||
1 | Digital Account | Free standard account, optional upgrades | Yes - Multiple integrations | Expense management, auto categorisation, quick online application |
Availability, eligibility, and pricing may change, so please check each provider’s terms before applying.
1. Starling Business Bank accounts are available exclusively to companies operating in select industries. An account will only be offered if your business is eligible at the time of application.
A banking solution for non-UK residents
We have partnered with Wise to provide our non-UK resident customers with international business banking.
A Wise account gives you access to:
- A UK account number and sort code
- A European IBAN
- A US account number and routing number
- An Australian account number and BSB code
With Wise, you can receive payments like a local in multiple regions, hold funds in 50+ currencies, and send money to over 70 countries - all with zero border fees and transparent exchange rates.
Why choose Wise for your business?
- Open your account online in minutes
- Get paid from clients and marketplaces globally
- Access real, local account details in multiple currencies
- Hold and convert over 50 currencies in one account
- Use the Wise Business debit card to spend in over 160 countries
How to get a Wise business account
A referral to Wise is free in our Non-Resident Packages.
Once your company has been incorporated, we will send you a link to set up your Wise account. If your application is approved, you will receive your account details shortly, including a UK-based sort code and account number, regardless of your country of residence.
"The customer service team is really helpful. They are always at the end of the phone."
Jaisica Lapsiwala
Co-founder of Chalk and Chilli
Frequently asked questions
Simplify the process with our business banking FAQs
When forming your company with Rapid Formations, you can choose your business bank account during the company formation application. If your company has already been formed, you can select a bank account referral via your Online Company Manager.
Whilst it is not a legal requirement, a dedicated business bank account helps you manage your company’s income and expenses, file taxes more easily, and present a more professional image to clients and customers.
When starting a business, opening a dedicated business bank account offers several advantages. It helps you keep your personal and business finances clearly separated, which is essential for staying organised and maintaining accurate records. A business bank account also enhances your professional image, making it easier to manage payments, receive client funds, and pay suppliers. Additionally, with all business transactions in one place, your accounting becomes more straightforward.
Each banking partner may have slightly different requirements. Typically, banking providers will ask for:
- Proof of company registration (Companies House number)
- Proof of identity (passport or driving licence)
- Proof of address (utility bill or bank statement)
Absolutely. All the digital banks we work with are FCA authorised and regulated in the UK.
A referral to Wise is free with our Non-Resident packages. As soon as your company is registered, we will send you a link to sign up for a Wise Business account.
No. We have partnered with Wise so non-residents can open their account from anywhere in the world.
How we are rated
Are you ready to register your company today?
Order online or if you have any questions, please call 020 7871 9990.