Best Business Bank Account for Contractors in the UK

Choosing the best business account for contractors can save time, money, and administrative hassle, whether you're invoicing a handful of clients or managing payments across borders.

This article compares five leading business account providers — Starling, Tide, Wise Business, Mettle by NatWest, and Revolut Business — looking at fees, features, and eligibility to help contractors identify the account best suited to how they work.

Register for Wise Business ✍️

The Wise account is not a bank account but offers some similar features and your money is safeguarded.

⚠️ Note: Provider features, fees, eligibility checks, protections, and timelines mentioned in this article may vary by customer, business type, application outcome, and country. Check the provider's website and terms and conditions for the most accurate and up-to-date information.

Summary of providers

Discover Wise Business 🔍

Wise Business offers a free Essential plan for basic spending and transferring. If you need to receive money, set up direct debits, or generate invoices, you'll pay a one-time £50 setup fee to unlock the Advanced features.

1. Starling

Features:

• According to Starling's business account page, Starling offers a fully licensed UK bank account with no monthly fees and 24/7 support³
• Integrates with Xero, QuickBooks and FreeAgent³
• Includes app-based spending insights, digital receipts and Spaces, which can help ring-fence tax money and overheads³
• Lets businesses send payments to accounts in 34 countries³
• Eligible deposits are protected by the FSCS³

Fees:

• Monthly account fee: £0³
• UK bank transfers: no transaction fees on payments to or from UK bank accounts³
• Cash deposits: 0.7%, minimum £3³
• ATM withdrawals: free up to 6 withdrawals a day and £300/day³

2. Tide

Features:

• According to Tide's accounting integrations page, Tide connects to Open Banking compatible software including Sage, FreeAgent, Coconut, KashFlow, QuickBooks, Crunch, ClearBooks and Reckon⁵
• According to Tide's pricing, Tide includes 3 invoices a month on Free, Smart and Pro, and unlimited invoicing on Max⁷
• Tide says it is not a bank. It offers business bank accounts powered by ClearBank, and some members also hold e-money accounts powered by PrePay Technologies Limited⁵
• Eligible ClearBank deposits are protected up to £120,000 by the FSCS, while e-money accounts are safeguarded rather than FSCS protected⁵

Fees:

• According to Tide's pricing, Tide Free is £0 a month, Smart is £12.49 a month, Pro is £27.49 a month and Max is £69.99 a month⁷
• Tide Free includes 5 free monthly bank transfers, then a 20p transfer fee applies^6,7
• International card payments: 2.75% FX fee on Free, and 0% FX fees on Smart, Pro and Max⁷
• Cash withdrawals: £1⁶

3. Wise Business

Features:

• Send money to 140+ countries at the mid-market exchange rate with low, transparent fees and no sneaky exchange rate markups
• Receive payments using 8+ local account details in 22+ currencies and counting
• Get local account details for currencies, including USD and EUR, to let your customers pay in a currency they know and trust - convenience for them and peace of mind for you
• Hold money in 40+ currencies
• Convert currencies anytime at the mid-market exchange rate with low, transparent fees
• Use the batch payments tool to create and send up to 1,000 payments in a single transfer
• Run payroll and make international payments for up to 1,000 employees all over the world
• Get business debit cards with 0.5% cashback for you and your team to keep track of team expenses and spend all over the world (see Wise Business Card Cashback terms and conditions for complete details)
• Manage cash in 55+ currencies across international offices from a single business account and move money between business accounts in seconds
• Connect and sync every business transaction to your favourite accounting software, including Xero, Quickbooks, and more
• Create your own payment approvals process to manage your team better with customised access for different team members
• Create custom professional invoices and schedule invoice payments for future dates
• Earn returns on GBP, USD and EUR with Wise Interest (capital at risk, growth not guaranteed)
• Create payment links and QR codes to get paid easily
• Automate payouts with the Wise API (comes with 24/7 customer support, a sandbox account to test integrations, API tokens, and clear documents on how to implement and make the most of our API)

Fees:

Wise Business offers a free Essential plan for basic spending and transferring. If you need to receive money, set up direct debits, or generate invoices, you'll pay a one-time £50 setup fee to unlock the Advanced features.

According to current Wise Business pricing in the UK:

• Advanced plan opening fee: £50
• Sending money: from 0.33%
• Currency conversion: from 0.33%
• Holding money: free
• Receiving domestic payments, non-SWIFT / non-wire: free
• ATM withdrawals: free up to £250/month, then 2.69% of the amount over £250

4. Mettle by NatWest

Features:

• Mettle is a business account from NatWest, available through an app^9,10
• Includes FreeAgent bookkeeping software with the account^9,10
• Designed for UK business banking and useful for contractors who receive and pay mainly in GBP¹⁰
• Lets eligible customers deposit cash at Post Office branches, with fees shown in its fee information document¹¹
• Eligible deposits are protected by the FSCS¹⁰

Fees:

• Monthly account fee: £0^10,11
• UK transfers: fee-free according to the draft source set¹²
• Cash deposits: check Mettle's fee information document before relying on cash deposits, as fees and limits can apply¹¹
• International payments: Mettle is not the strongest fit if you need regular overseas transfers or multi-currency receiving details¹⁰

5. Revolut Business

Features:

• According to Revolut Business pricing, Revolut Business offers Basic, Grow, Scale and Enterprise plans¹⁴
• Positioned around multi-currency accounts, transfers and business spending^13,14
• Integrates with Xero, Sage, QuickBooks and more¹⁴
• Includes tools for team spending, cards, permissions and approvals across plans¹⁴
• UK banking status and FSCS position should be checked at account-opening stage, because customer migration and product eligibility can affect how protection applies^13,14

Fees:

• Monthly account fee: Revolut Business is a paid account; check Revolut's live pricing page before applying, as pricing can vary by plan and billing choice¹⁴
• FX and transfers: allowances and fees vary by plan, so contractors should compare expected monthly foreign-currency volume before choosing a tier¹⁴
• Accounting integrations: available across plans according to Revolut's plan page¹⁴
• Advanced tools: some features, such as API access and more advanced finance tools, may depend on the plan selected¹⁴

Manage international contractor payments with Wise Business

Managing multiple currencies and international payments can become complex as your contracting business grows.

Wise Business can help contractors receive, hold, convert and send money across borders with transparent fees.

Wise Business offers a free Essential plan for basic spending and transferring. If you need to receive money, set up direct debits, or generate invoices, you'll pay a one-time £50 setup fee to unlock the Advanced features.
With Wise Business, you can:

• 🌍 Send money to 70+ countries and pay overseas invoices at the mid-market exchange rate with low, transparent fees and no hidden exchange rate markups (product availability varies by region)
• 📥 Receive payments in 24 currencies and counting
• 💵 Get local account details for 8+ currencies, including USD and EUR, to let your customers pay in a currency they know and trust - convenience for them and peace of mind for you
• 💰 Hold money in 40+ currencies
• 🔁 Convert currencies anytime at the mid-market exchange rate with low, transparent fees
• ⚡ Use the batch payments tool to create and send up to 1,000 payments in a single transfer
• 👥 Run payroll and make international payments for up to 1,000 employees all over the world - including paying suppliers using local payment methods like ACH, SEPA, and Faster Payments
• 💳 Get business debit cards with 0.5% cashback for you and your team to keep track of team expenses and spend all over the world, with real-time visibility and categorisation. See full cashback terms and conditions
• 🏢 Manage cash in 55+ currencies across international offices from a single business account and move money between business accounts in seconds (exact speeds can vary depending on individual circumstances and may not be the same for all transactions)
• 🧾 Connect and sync every business transaction to your favourite accounting software, including Xero, Quickbooks, and more
• 🔐 Create your own payment approvals process to manage your team better with customised access for different team members, roles and permissions
• 📑 Create custom professional invoices and schedule invoice payments for future dates
• 📈 Earn variable returns on GBP, USD and EUR with Wise Interest (Capital at risk, growth not guaranteed. Your money is at risk if governments default or interest rates go negative. Rates vary by country and currency. Rates are variable. Visit Wise Interest to find out more)
• 🔗 Create payment links and QR codes to get paid easily (Card payment acceptance for new Wise Business customers is currently unavailable. Payment methods subject to eligibility and availability.)
• ⚙️ Automate payouts with the Wise API (comes with 24/7 customer support, a sandbox account to test integrations, API tokens, and clear documents on how to implement and make the most of our API)

Make the wise choice when selecting a business account for your domestic and global needs.

Be Smart, Get Wise.

Register for Wise Business ✍️

**Investments are not guaranteed, and your capital is at risk.

Wise is an Electronic Money Institution (EMI), so features like Interest and Stocks may be covered by the Financial Services Compensation Scheme (FSCS). For standard cash balances, we safeguard your funds to meet regulatory obligations.

In the UK, Interest and Stocks are provided by Wise Assets, the trading name of Wise Assets UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA number 839689).

We do not provide investment advice, and taxes may apply. If unsure, seek qualified financial advice. Full fund information is available on our website.

FAQs

What is the best business account for contractors?

The best business account for contractors depends on how you get paid and what admin tools you need. Starling, Tide and Mettle can work well for UK-focused contractors, while Wise Business and Revolut Business may be useful if you need international payment or multi-currency features.

Do contractors need a business bank account?

Limited company contractors should usually use a dedicated business account to keep company money separate. Sole traders may not always be legally required to have a separate account, but using one can make tax, expenses and bookkeeping easier.

Which business account is best for contractors with overseas clients?

Wise Business may be worth considering if you invoice overseas clients or need to convert, receive and send money in different currencies. Revolut Business may also be relevant if you want a paid multi-currency business account with team and spending controls.

Sources:

Sources checked on 13 July 2026