Best business bank account in the UK

Before you send or receive payments on behalf of your business, you’ll need a dedicated business account to allow you to manage your finances most efficiently. However, if you’re new to doing business in the UK, or if you’re a non-resident or expat there, you might find it challenging to select the right account to cover all your needs.

This guide will cover both how to open a business account online and which banks or providers are best for expats and non-residents. 

We’ll cover some major UK bank options as well as specialist providers like Wise Business which has multi-currency account features with no monthly fees, mid-market exchange rates and perks like accounting integrations to cut down on admin.

Can non-residents open a business bank account in the UK:

Yes. A foreigner can open a business account in the UK.

If you have a UK registered business you can choose to open a business account with a bank, or a specialist provider like Wise or Revolut.

Not all UK banks allow non-resident account opening for small businesses, so you’ll need to check the rules in place with the bank you select. Even where non-resident account opening is supported you may not be able to open an account online or in an app, requiring a visit to a branch in person.

That said, there are options. In this guide we’ll focus on the business accounts available for non-residents of the UK so you can decide which is best for your specific needs.

Best business bank accounts in the UK:

The UK has a developed financial sector, with a large range of local, regional and international banks available for UK based individual and business customers.

All major UK banks offer business services, which are often split by business size to allow customers to access appropriate features without incurring excessive fees. You’ll come across free business bank accounts for start ups and sole traders, for example which have an emphasis on low costs and app-based transactions for convenience. Business accounts may be split out by company turnover or borrowing needs. And corporate services are also usually available to serve businesses with broad and complex financial needs.

This variety makes it important to pick your business account carefully. This guide looks at some bank business accounts and also some from specialists which aren’t banks, which can offer more accessible and flexible accounts for non-residents.

Methodology: We’ve picked low fee accounts which support applications from UK business owners, and looked at international features and fees including supported currencies and transfer costs, to help the owners of UK based businesses trading globally find a good fit. Where possible we’ve focused on providers which can support non-resident applications, depending on the individual circumstances.

Business bank account comparison table

To help you select the best business bank accounts in the UK for your specific needs, we’ve compared a range of account options from specialist providers, alongside major UK banks.

We’ve used Wise, Revolut and Airwallex as specialist providers which are not banks, as well as HSBC and Barclays to give an idea of the bank features offered.

Here’s a comparison on important features and fees, with more detail on each option right after.

Provider/Bank	Eligibility	Key fees	Supported currencies	International transfer fees
Wise Business Account	Business owners in the UK and many other countries	45 GBP account opening fee for full feature access No monthly fee	40+ currencies supported to hold Receive 8+ currencies with local account details, and 20+ with SWIFT details	Low, transparent fee from 0.33%
Revolut Business Account	Business owners in the UK with a residence in the UK, the EEA, or Switzerland	No account opening fee Monthly fees from 10 GBP – 90 GBP	25+ currencies supported to hold Receive EUR and GBP with local details, and all other supported currencies with SWIFT details	No fee to plan limits, then 5 GBP Currency conversion fees of 0.6% apply when plan limit is exceeded 1% weekend exchange fee applies
Airwallex Business Account	Business owners in the UK and many other countries	No account opening fee Monthly fees from 0 GBP – 999 GBP/month	20+ currencies supported to receive and hold	No fee for local transfers to 120+ countries SWIFT transfers to 200+ countries for 10 – 20 GBP  Interbank rate + 0.5% or 1% depending on currencies
HSBC Business Banking Account	UK business owners with proof of ID and address for the past 3 years  Check if you’re eligible to apply based on your personal situation	No account opening fee, service fees of 10 GBP/month, waived for first year	GBP Currency accounts available on request, with additional fees	0.24 GBP for SEPA payments, other transfers cost from 17 GBP Exchange rate markups may apply
Barclays Business Bank Account	UK business owners  Non residents can not apply online or in app – check with the bank if you can apply in branch based on your situation	No account opening fee, service fees of 8.5 GBP monthly, waived for 12 months	GBP	0.35 GBP for SEPA payments, 15 GBP for international transfers  Exchange rate markups may apply

*Details correct at time of research – 19th September 2025. About Wise pricing: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Top 5 best business bank accounts the UK [2025]

Wise Business Account

💡 Great for: No ongoing fees, with 40+ supported currencies, and mid-market rate currency conversions

Use a Wise Business Account to hold 40+ currencies, and set up account details for your business in 20+ currencies, allowing customers to pay you in their preferred currency conveniently. If you need to send payments overseas, transfers are quick or instant and use the mid-market rate with fees from just 0.33%, making this a great option for UK businesses which trade internationally.

Plus get business friendly perks like business debit and expense cards to use overseas without foreign currency transaction fees, batch transfers and integrations with your favourite accounting software and save time on admin. Choose from Xero, QuickBooks, FreeAgent and more.

Account fees: No monthly fee, 45 GBP account opening fee for full feature access

Support currencies: 40+ currencies supported to hold, Receive 8+ currencies with local account details, and 20+ with SWIFT details

International payments: Low, transparent fee from 0.33%

Exchange rates: Mid-market rate

Eligibility criteria: Business owners in the UK and many other countries

Required documents: Proof of ID and address, business registration documents – details of beneficial owners also required

Revolut Business Account

💡 Great for: Select between different account plans depending on your transaction needs, with 25+ supported currencies and some no fee transactions monthly

Revolut Business has 3 different off the shelf account plans, as well as enterprise level services, to allow companies of different sizes to access the features that matter to them. All accounts offer business debit and expense cards, and ways to receive and hold 25+ currencies. 

There are some no fee transactions included in all account plans, which vary depending on the plan selected. Pick a plan with a higher monthly fee to secure more no fee transactions, or stick with the Basic plan for more of a pay as you go model offering only a small number of no fee transactions.

Account fees: No account opening fee, Monthly fees from 10 GBP – 90 GBP

Support currencies: 25+ currencies supported to hold, Receive GBP and EUR with local details, and all other supported currencies with SWIFT details

International payments: No fee to plan limits, then 5 GBP

Exchange rates: Revolut rate to plan limit. Currency conversion fees of 0.6% apply when plan limit is exceeded, 1% weekend exchange fee applies

Eligibility criteria: Business owners in the UK with a residence in the UK, the EEA, or Switzerland

Required documents: Proof of ID and address, business registration documents – details of beneficial owners also required

Airwallex Business Account

💡 Great for: Companies taking customer card payments in multiple currencies, with ways to hold and receive 20+ currencies easily

The Airwallex Business Account is popular with ecommerce and fully digital businesses as it offers a great selection of ways to get paid by customers by bank transfer and with local and global cards. You can choose the most basic account which has no monthly fee as long as you hold a balance of 10,000 GBP or more, or an account with ongoing costs which unlocks more features and lower per transaction charges. 

All Airwallex accounts have features like corporate cards, multi-currency account features and expense management tools.

Account fees: No account opening fee, service fees from 0 GBP – 999 GBP/month

Support currencies: 20+ currencies supported to receive and hold

International payments: No fee for local transfers to 120+ countries, SWIFT transfers to 200+ countries for 10 GBP – 20 GBP

Exchange rates: Interbank rate + 0.5% or 1% depending on currencies 

Eligibility criteria: Business owners in the UK and many other countries

Required documents: Proof of ID and address, business registration documents – details of beneficial owners also required

HSBC Business Banking Account

💡 Great for: Selection of business accounts which you can switch between as your business grows, with bolt-on services to customise your package

HSBC offers several different business accounts from the app based Kinetic account for sole traders through to full corporate services. We’ve selected the core HSBC Business Banking Account for this guide which is the option recommended for established businesses which may need financing solutions and working capital.

HSBC accounts support GBP only, but you can also request currency accounts which have additional fees of 120 GBP/year.

Account fees: No account opening fee, service fees of 10 GBP/month, waived for first year

Support currencies: GBP

International payments: 0.24 GBP for SEPA payments, other transfers cost from 17 GBP

Exchange rates: Exchange rate markups may apply

Eligibility criteria: UK business owners with proof of ID and address for the past 3 years – check if you’re eligible to apply based on your personal situation

Required documents: Proof of ID and address, business registration documents – details of beneficial owners also required

Barclays Business Bank Account

💡 Great for: Low monthly fees waived for 12 months, with a full suite of banking services on offer

Barclays has different account products for business based on customer needs. The core product which we’ve selected for this guide is the Barclays Business Bank Account. This is recommended for established businesses, and supports GBP only with options to send and receive international payments as needed.

Barclays offers online and in app account opening, but only if you meet certain criteria which include UK residency. You may still be able to open your account in a branch if you’re not a UK resident – this will depend on your individual situation.

Account fees: No account opening fee, service fees of 8.5 GBP monthly, waived for 12 months

Support currencies: GBP

International payments: 0.35 GBP for SEPA payments, 15 GBP for international transfers 

Exchange rates: Exchange rate markups may apply

Eligibility criteria: UK business owners. Non residents can not apply online or in app, so you will need to check directly with the bank if you can apply in branch based on your situation

Required documents: Proof of ID and address, business registration documents – details of beneficial owners also required

How to choose the right account for your business

It’s important to choose the right account for your business to cut the costs of financial transactions and make sure you have access to all the services your business might need right now and in the future. 

UK banks tend to offer accounts which are split by business size, with some tailored to new companies and startups, and others more for growing and established organizations. When you decide which account is best for your needs, you’ll need to consider the following points:

• Ongoing account fees: Ongoing fees can eat into your profits. UK banks and specialist providers may offer accounts with no monthly charges, or with ways to waive fees.
• Account transaction fees: Other costs apply to most accounts, depending on how you transact. Look at the fees for common transactions carefully to make sure you know what to expect.
• Feature availability: Check the account has all the features you need. Digital accounts may not support cash deposits for example, while UK banks tend not to offer multi-currency features.
• Eligibility: Some banks limit accounts to people with UK residence, while digital providers may be more flexible.
• Currency options: If you need to hold, send or receive foreign currencies you may benefit from a multi-currency account with ways to get paid in foreign currency without converting back to GBP – options like Wise and Revolut can be a good pick.
• International payments: Paying contractors, suppliers and overseas employees can be costly. Choose a provider which supports low cost transfers with good exchange rates to save on fees.

How to open business bank account in the UK:

The exact process to open a business account in the UK can depend on the provider or bank you select. However, the process is usually quite uniform.

Here’s how to open a business bank account in the UK in a few simple steps.

Step 1: Understand the requirements

If you’re opening an account with a UK bank you’ll need to check that you’re eligible to apply, based on your residence and business type. Some banks do not offer accounts to non resident business owners, and in almost all cases there are restrictions on some business types. 

Specialist providers like Wise and Revolut do have their own eligibility requirements, but these may be more flexible, depending on your personal situation.

Step 2: Gather your documents

All banks and specialist providers need to see some paperwork to support your application. This usually includes:

• Proof of ID like your passport – a secondary ID document may also be needed
• If you’re a foreigner in the UK you may need to show proof of legal residency if relevant
• Proof of address like a utility bill
• Business registration documents – the requirements here vary according to entity type

In most cases you also need to provide information and documents for beneficiary owners – anyone with a large stake in your business – and directors. Check with your preferred bank or provider directly so you know what’s needed.

Step 3: Submit your application 

Banks often ask you and any co-applicants to visit a branch in person to submit your application. You can make an appointment in advance and a member of the team will take you through the application process. Take along your documents to show for verification.

If you choose a digital first provider, the application, verification and onboarding process is normally done online.

Step 4: Fund your account and start to transact

Once your account is verified – which may be instant or may take a few days – you can fund your account and start to transact. If you’ve applied online, your account materials like a debit card will be mailed to your registered address.

Conclusion 

UK business owners have a good choice of account options depending on entity type and transaction requirements. You can choose an account from a UK bank or a specialist provider like Wise or Revolut. Ultimately, the best option for your business will depend on your specific business type and residency status.

If you’re a UK resident and need cash deposit services, a business account from a bank like HSBC might be a good choice. Or if you’re running a company with a more international outlook, a provider like Wise Business could be an excellent pick for multi-currency payment solutions, low fees and the mid-market rate when you send, spend or exchange currencies.

FAQ

Can a non-resident open a business bank account in the UK?

Yes. A non resident can open a business account in the UK. If you have a UK registered business you may be able to open a business account with a bank, or a specialist provider like Wise or Revolut. Banks have their own eligibility rules, which may mean not all products are suited to non-resident applicants.

Can I use a personal bank account for business purposes?

Some entity types must have a dedicated business account by law – but even if you’re a sole trader or freelancer, opening a business bank account can be an excellent option. Having a dedicated business account makes it easier to view and manage company transactions, track performance and access business friendly features.

How much money is needed to open an account?

There are no charges to open a business bank account with most UK banks. However, you may find there’s a  minimum deposit needed to open the account – plus monthly fees once your account is up and running 

Useful resources

Wise Business – Wise Business landing page

Wise Business pricing – Wise Business pricing page for UK businesses

Revolut Business – Revolut Business landing page

Revolut Business pricing – Compare Revolut Business plan features and fees side by side

Airwallex Pricing – Airwallex UK account descriptions and pricing plans

HSBC Business Banking Account – landing page for further account information

Barclays Business Bank Account – landing page for further account information

UK finance business banking information – reference for Barclays account eligibility 

Barclays Business  pricing – fee information for business customers