Even if your business or personal credit score is lower than you’d like it to be, there are still business current account options available. These 8 business current account providers don’t run a credit check before approving you. Their applications are online, fast, and straightforward.
Featured: Revolut
- Mobile business account, accessible online and on desktop 24/7.
- £7-100 monthly account fee.
- Trade in 30+ currencies with no fees.
- Set up sub-accounts in each currency.
- No credit check for current account, just for lending products.
- Physical and virtual company debit cards.
- Control spend and permissions for team cards.
- Automate expenses.
- Integrates with accounting software including Xero and QuickBooks.
- Payroll, loans, and overdrafts are offered but credit check may apply.
Website: Revolut Business Banking
Read the full Revolut Business Bank Account review.
Key Features:
- Monthly fee: Free
- UK Card Purchases: Free
- ATM withdrawals: 2% fee
- Bank Transfers: 5 free (£0.20 after)
- Overdraft: No
- Access: App & Online
Protection:
- FSCS protected: No
- FCA regulated: Yes
- Hold and exchange 25+ currencies
- 24/7 support
- Free transfer to other Revolut accounts
- IBANs for global transfers
- Local accounts in GBP & EUR
- Ability to Accept Payments
- Ability to buy and hold crypto with your account
- Not FSCS protected
- 2% fee to withdraw cash
- Premium features only come with paid plans
| Bank name | Cost |
|---|---|
| Revolut | Free-£1000 a month (depending on usage) |
| Tide | Free - £49.99 per month |
| Zempler Bank | £0 per month |
| Card One Money | £12.50 a month plus £55 application fee |
| Countingup | £4.95-£9.95 a month or free (depending on how much cash you process) |
| PayPal Debit | No monthly fee! |
| Bunq | €4.99-20.99 a month |
1. Zempler Bank (formerly Cashplus) GO
- Monthly fee: Free
- Card issue fee: £9.95 Initial card set up fee
- Card purchases: Free
- Access: Online/App
- 5 minute application with instant decision
- Manage your account 24×7 via our mobile app and online banking, with additional UK based customer services phone support
- Available to UK registered companies with at least one UK resident director or UK based sole traders and self-employed
- Applicants must be aged 18+ and have a valid UK phone number and residential address
- Max account balance of £50k
- Funds are FSCS protected
Website: Zempler Bank Website
Read the full Zempler Bank Business Current Account review.
Key Features:
- Monthly fee: Free
- UK Card Purchases: 3 free then £0.30
- ATM withdrawals: £2
- Bank Transfers: 3 free then £0.30
- Overdraft: No
- Access: App & Online
Protection:
- FSCS protected: Yes, up to £85,000
- FCA regulated: Yes
2. Tide
- No monthly or annual fees
- Full UK sort code and account number
- Business Mastercard, with free purchases at home and abroad
- Automatic categorisation of your transactions, for easy accounting
- Instant invoice payment and creation
- Up to £150,000 of credit, straight through the app
- Mobile and web access
- Instant notifications
- Get paid by Direct Debit
- Trusted by 500,000+ UK businesses
- Expense cards available from £5/month
Website: Tide Business Banking
Read the full Tide Business Account review.
Key Features:
- Monthly fee: Free
- UK Card Purchases: Free
- ATM withdrawals: £1
- Bank Transfers: 20p
- Overdraft: No
- Access: App & Online
Protection:
- FSCS protected: Yes, up to £85,000 via Clearbank
- FCA regulated: Yes
- No monthly or annual fee
- Deposits are FSCS protected
- Accounting software integration
- Ability to add up to 5 business accounts
- Free built-in invoice software
- Costs 20p to transfer in or out (free with paid plans)
- Costs £1 to withdraw cash via ATM
- Can't deposit cheques
- £2.50 to deposit cash at PostOffice or 3% at PayPoint
3. Card One Money
- 24/7 online and mobile banking.
- Includes pre-paid MasterCard debit cards for you and your team.
- Free text alerts.
- Administrative access to control employee expenditure.
- UK call centre and account management.
- £55 application cost.
- £12.50 application fee.
- No charges for spending with your card.
- Awarded Best Business Card Programme 2014 at the Card and Payments Awards.
- Suitable for sole traders, partnerships and limited companies.
Website: CardOneMoney Business Banking
Read the full CardOneMoney Business Bank Account review.
4. Countingup
- Manage your account 24/7 using the app.
- Open an account in a few minutes.
- Includes contactless MasterCard debit card.
- Free accounts are available for businesses depositing £500 or less each month.
- Monthly fee of £4.95-£9.95 depending on the amount you deposit.
- Includes standard account features include Direct Debits standing orders, payments and transfers.
- Also includes invoicing and bookkeeping functionality.
- Accounting features including expense management and profit and loss.
- Designed for freelancers and limited companies.
- Rated excellent on Trustpilot.
Website: Countingup Business Banking
Read the full Countingup Business Bank Account review.
5. PayPal Debit
- Manage account 24/7 online and on the app.
- Not a replacement for a business current account.
- No monthly fee.
- 0.5% cashback on eligible purchases.
- Handy for businesses regularly making PayPal payments and transfers.
- Includes pre-paid MasterCard debit card for paying in person and online.
- Takes funds first from your PayPal account then your designated secondary funding source in multiples of £5.
- Withdraw cash from ATMs at £1 per transaction.
- No foreign exchange fees.
- Apply through your PayPal business account.
Website: PayPal Debit Business
Read the full PayPal Debit Business Account review.
6. Bunq
- An online account that can be managed through the app 24/7.
- Offers Maestro and MasterCard Debit cards.
- Open an account in just 5 minutes.
- Account fee of 4.99-20.99EUR per month.
- Up to 25 sub-accounts that you can sort payments into.
- Real-time notifications.
- Multiple local IBANs and currencies.
- Sync with accounting and bookkeeping tools.
- Suitable for startups and small businesses.
- Apply with your phone, business details and ID.
Website: bunq Business Banking
Read the full bunq Business Bank Account review.
FAQ
Can you get a business bank account with bad credit?
It’s definitely possible to get a business bank account with bad credit, but your options can be a bit more limited.
Mainstream banks run a credit check as standard, which is usually soft and has no negative effect on your credit report, but you may still struggle to get approval.
The account providers above don’t run a credit check, so your current credit score shouldn’t have any impact on you being approved.
How to open a business bank account with bad credit?
You can apply to any business bank account provider you choose, usually online or over the phone. The account providers above all have fast, easy online applications.
What do you need to open a business bank account with bad credit?
To open your business bank account, you’ll need to prove your identity and ownership of the business.
You’ll usually need to provide:
1) Companies House registration number.
2) Tax information, turnover and information about any other capital.
3) Details of all directors or partners, including name, date of birth, address and National Insurance numbers.
How much do these accounts cost per month?
Business bank account costs vary quite a lot.
Some accounts are free or have a free trial period of several months. Traditional bank accounts, and many online accounts, usually cost from £5-£10 a month.
Some charge extra for multiple users and extra features.
How long does it take to open a business bank account with bad credit?
It’s faster than ever to open a business current account, whatever your credit score. If you’re successful, your account should be open within a few hours, sometimes even minutes! If the bank or provider needs to check further details, it could take over 24 hours.