What is the best Business Current Account? | moneyfacts.co.uk

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nigel woollsey

Nigel Woollsey

Online Writer
Published: 21/05/2020

How do we decide which business current accounts get the best rating?

Moneyfacts financial experts take a microscope to thousands of products on an annual basis. The results are our Annual Star Ratings which are respected for their attention to detail and impartiality.

We look closely at the features and benefits of business current accounts to determine the truly best in class for consumers. Examples of the kind of features we look for are shown in the section below – ‘What elements do we use to determine a star rating?’.

Our business experts carefully evaluate the range of benefits to decide on those that merit a Moneyfacts five or four-star rating. These are the products that consumers can trust to provide the best business current account.

How can I find the best Business Current Account for me?

Our star rating system makes it easy for you to pick out the truly exceptional business current account products. Choosing from our five or four-star rated products means you can be assured you are choosing a quality business current account, that has been rated by experts, as being one of the best available.

What elements do we use to determine a star rating?

We consider an extensive range of features when assigning a star rating for business current accounts. These include:

Flexibility

  • Account management
  • Card availability
  • Services from other banks and branches.

Benefits

  • Introductory offers
  • Loyalty bonus
  • Exclusive offers
  • Satisfaction guarantees
  • Emergency card
  • Preferential deals on other financial products.

Features

  • Introductory offers
  • Credit interest
  • Overdraft availability
  • Standing charges
  • Cash withdrawal facilities and charges
  • Debit transaction charges
  • Credit transaction charges
  • Statement fees
  • Transfers and faster payments
  • Facilities and charges
  • Cash exchanging facilities and charges.

Five-star business current accounts

  • AIB - Standard Business Current Account
  • Bank of Ireland UK - Business Current (NI) Agri Package
  • Bank of Ireland UK - Business Current (NI) Small Business Growth
  • Bank of Ireland UK - Business Current (NI) Small Business Start Up
  • Bank of Scotland - Business Current Account
  • Barclays Bank - Business Current Account e-Payments Plan
  • Barclays Bank - Business Current Account Mixed Payments Plan
  • Cumberland BS - Business Current Option A
  • Cumberland BS - Business Current Option B
  • Danske Bank - Danske Small Business Digital
  • HSBC - Community Account Churches and Trustees
  • Lloyds Bank - Business Current Account
  • Metro Bank - Business Bank Account
  • NatWest - Business Current Account Standard Tariff
  • NatWest - Business Foundation Account Standard Tariff
  • NatWest - Community Account
  • Royal Bank of Scotland - Business Current Account Standard Tariff
  • Royal Bank of Scotland - Business Foundation Account Foundation
  • Royal Bank of Scotland - Community Account
  • Santander - 123 Business Current Account
  • Santander - Business Current Account
  • The Co-operative Bank - Business Current Account Cash Tariff
  • The Co-operative Bank - Business Directplus
  • The Co-operative Bank - Community Directplus
  • The Co-operative Bank - FSB Business Banking
  • TSB - Business Plus
  • Ulster Bank - Business Current Account
  • Virgin Money - Business Current Account Business Tariff
  • Virgin Money - Professional Firms Client Account Designated Clients Funds

Four-star business current accounts

  • Allied Irish Bank (GB) - Business Plus
  • Allied Irish Bank (GB) - Business Current Extra
  • Bank of Scotland - Business Account Electronic Business Tariff
  • Barclays Bank - Business Current Account Business Tariff
  • Danske Bank - Danske Small Business
  • HSBC - Business Current Account Electronic Banking Tariff
  • Metro Bank - Client Premium Deposit Account
  • Starling Bank - Sole Trader Current Account
  • Starling Bank - Business Current Account
  • The Co-operative Bank - Business Current Account Standard Tariff
  • Unity Trust Bank - Unity Current Account
  • Unity Trust Bank - Unity Custom Account

Community Business Current Accounts – Five Star

  • Bank of Scotland - Treasurers' Account
  • Barclays Bank - Community Account
  • Clydesdale Bank - Business Choice Charities Account Turnover up to £1m
  • Cumberland BS - Business Current Schools Standard Free
  • HSBC - Schools and Colleges Account
  • Lloyds Bank - Treasurers' Account
  • Santander - Treasurer's Current Account
  • Ulster Bank - Business Current Account Not for Profit Account
  • Yorkshire Bank - Business Choice Charities Account Turnover up to £1m

Community Business Current Accounts – Four Star

  • Danske Bank - Danske Charity Account
  • Danske Bank - Danske Community Account
  • HSBC - Business Current Account Electronic Banking Tariff Clubs, Societies and Charities
  • HSBC - Business Current Account Small Business Tariff Clubs, Societies and Charities
  • HSBC - Community Account Clubs, Societies and Charities

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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