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Best business bank account for a sole trader?

7 replies

tooanxious · 25/08/2023 15:39

Just that really

DH is going self employed and we are looking for a good business bank account to keep his work finances separate

OP posts:
KateyCuckoo · 25/08/2023 15:40

Starling

Shouldbeworkingnotreadingtalk · 25/08/2023 15:47

Second starling. They've been great.

tooanxious · 25/08/2023 15:59

Thanks both that was our fave as well just wanted to garner opinion :)

OP posts:
whirlyhead · 25/08/2023 16:01

Starling - they're brilliant.

KimMG · 25/08/2023 16:22

I think if you're a member of the FSB ( Federation of Small Business's ) you can get free banking with the Co Op

Beastlyofburden · 25/08/2023 17:42

We use HSBC for our daily banking - it was a nightmare to set up, we are trying to move away from them because they are so frustrating - their software is old and clunky and if they get a sniff of concern about a payment you have made they will freeze your account - that's quite stressful because there are very long waits on the phone to resolve.

So we have looked to open several current accounts to spread the risk. Starling looked great but their transaction limits were too low for us and their security checks for each payment were excessively time-consuming.
Security is important - of course, - that's why you need clever software that isn't cumbersome but keeps you safe.

I just joined Allica, they are relatively new - pay cashback of 1% and 3.5 % interest on savings, they are really responsive - you get a person to deal with and no long waits on the phone, which saves so much time and frustration. I think they have a waiting list but we only spent one day on it and had a bank account very quickly. They don't connect up with Quickbooks yet - so you'll have to do a manual upload for your statements - but that's pretty easy.

Business banking is so much worse than personal banking so adjust your expectations.

ForCoralMentor · 05/08/2025 14:24

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