Small Business Bank Account

Save with flexible business banking

Endless banking fees adding up? Looking for a better way to control your cash flow? Every penny counts when you’re working for yourself. At the Federation of Small Businesses, we’ve partnered with leading banks to bring you discounts and perks that you won’t find anywhere else.

Save with membership

Spend less on business banking and more time doing what you love. Save while you spend with access to exclusive deals handpicked just for FSB members.

Made for small businesses

From fees to transfers, there is a lot to think about when you’re busy running your business. We’ve taken the fuss out of finding an account that works for small businesses.

Money made simple

We know every small business is unique. That's why whether you’re making cash deposits at a local branch or managing your finances online, you can choose an account that's best for you.

Already an FSB member? Log in now to access this membership benefit.

in association with

How business banking used to be, but better. FSB members get more with an exclusive Savings Pot
boost.

A direct line to your own dedicated relationship manager and UK-based customer support
No monthly fees
Earn up to 1.5% cashback on all eligible card spend^†
4.33% AER^† (variable) instant access Savings Pot with 24/7 instant access to your money (this includes an additional 0.25% boost for FSB members)
No transaction fees on inbound/outbound payments, Direct Debits or ATM withdrawals
Accounting software integrations with Sage and Xero
FSCS protection (eligible deposits only)
Access and manage your account using mobile app or web
Multiple director access and two-person authorisation
Free Faster Payments and BACS^†
Switch your business current account through the Current Account Switch Service, a 7-day Switch Guarantee

The only UK high street bank with a customer-led Ethical Policy. Feel good about who you bank with when you join us.

No introductory period, just free everyday banking (cash limits apply)
No arrangements fees on overdrafts
Pay in cheques and up to £1,000 in cash free of charge, per charging period*
Apply online in minutes, most customers get a decision on their application in five business days**
A choice of ways to bank including 24/7 digital banking through online banking and mobile app. UK-based customer support in branch, on the phone or The Co-operative Bank Business Help app, with access to specialist business advisers
Free integration of accountancy software including Sage, Quickbooks and Xero
Free access to the Go Get Paid app, giving you a secure way to request payments digitally, get paid on time and boost your cash flow
The Co-operative Bank has been rated as the UK’s best Environmental, Social and Governance (ESG) high street bank by Sustainalytics***

Make the move to simple, secure, smart banking. Use as your main business bank account or as an additional account.

No account fee in the first two years
Earn 1% cashback (up to £1,000 per month) on eligible card spend****
No monthly account fees
No transaction fees on inbound/outbound payments, Direct Debits or ATM withdrawals
Low fee of 0.5% on cash deposits via any UK Post Office®
Apply online in minutes and get an instant decision with no credit checks on application
Manage your money efficiently with spending reports, receipt capture and invoice generation tools
Accounting integrations with Xero, Quickbooks, Sage, Iris and others
Connect your account with FSB’s Making Tax Digital App
UK based telephone customer services support and 24/7 mobile/online banking

Start your membership today

Unlock big savings on business essentials when you join the Federation of Small Businesses. FSB Business Banking is just one of many member benefits designed to help small business owners like you to succeed.

Join now

Frequently asked questions

Do I need a business bank account?

A great starting point in your self-employment journey is to separate your personal finances from your business finances by opening a business account.

Separating your personal finances from your businesses will help you see your business cash flow situation more clearly. It can also help you begin building a credit rating for your business. This can be vital when your business comes to looking at funding options.

It also means you will have access to the support and tools you might need, especially if things get tough. Your provider will understand your situation and be able to put the right levels of help in place.

➤ Five reasons it pays to have a business bank account

Which bank is best for a business account?

Whether you’re just starting out on a new business venture or looking to make changes to your existing business banking, choosing the right business bank account is crucial in managing your small business’ finances effectively.

From florists and plumbers to design agencies and manufacturers, all businesses will have unique needs depending on your current size, goals, and long-term plans. Some important business banking features you should look out for in your search for the right business current account include:

Monthly fees and account charges like cash deposits and withdrawals
Minimum balances and transaction limits
Customer support (local branch, over the phone, online etc.)
Online and mobile banking services
Card payment services
Business savings accounts options

➤ How to choose a business bank account

What is digital banking?

Digital banking is where banking services are offered primarily online, for example on a computer or through a mobile app. Digital banks will typically offer a fast online application process and often only require an ID and address check, as well as anti-money laundering (AML) checks, which can make the process smoother if you have a thin credit file.

If you are comfortable with manging your business banking online, keep in mind that not all mobile and digital banks offer the same access. With some you will only have the option of a mobile app, while others also offer full online banking from your laptop. Plus, you might still have customers who pay in cash or need to be paid in cash, so ensure your bank accepts cash deposits.

➤ Learn more about digital banking

How long does it take to open a business bank account?

It's often quick and easy to apply for an account online. Sometimes you’ll even get an instant decision. During your application, you’ll be asked to supply details about your business. Note that eligibility criteria may apply.

Is my money protected in a business bank account?

Business banking accounts offered via FSB Business Banking are FSCS protected.

Just like your personal bank account, the Financial Service Compensation Scheme (FSCS) protects you up to £85,000 across all accounts you hold with a bank, including business accounts. However, how much protection you get depends on whether you’re a sole trader or limited company. Because sole traders aren’t treated as a separate legal entity, the £85,000 will cover your personal and business bank accounts. For a limited company, the £85,000 protection is in addition to your own accounts, as the business is the protected entity.

^{† Terms and conditions apply.}

^{*Charges apply for cash deposits above £1,000 per charging period and to any special services such as international payments, stopping cheques and CHAPS payments.

** All applications are subject to status and eligibility. T&Cs apply.

*** As of October 2023, The Co-operative Bank received an ESG Risk Rating of 8.5 from Morningstar Sustainalytics and was assessed to be at negligible risk of experiencing financial impacts from ESG factors. In no event should this Risk Rating be construed as investment advice or expert opinion as defined by the applicable legislation.

The Co-operative Bank p.l.c. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No: 121885). Registered office: 1 Balloon Street, Manchester, M4 4BE. Registered in England and Wales (Company No: 990937).}

^{****Cashback cannot be earned on cash advances, quasi-cash transactions, gambling, Government payments (including HMRC), ATM withdrawals, balance transfers, interest, fees and charges, non-member payment service provider payments, and non card payments. The 1% Cashback is limited to the first £100,000 of eligible card purchases each calendar month.

Accounts are available to UK residents aged 18+ and UK-based businesses. The first year’s account fee will get refunded to FSB members after they have opened the bank account, and then again on the first anniversary of the account opening. For full website terms including information on Zempler Bank, Mastercard and use of Trademarks, please see our full legal disclosures at https://www.zemplerbank.com/legal/.

Zempler Bank Ltd is registered in England and Wales at Cottons Centre, Cottons Lane, London SE1 2QG (No.04947027). Zempler Bank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 671140.}

Manage your money your way for less