Best Self-Employed Business Accounts in the UK

Running your own business means wearing a lot of hats, and working out where to manage your money shouldn't be the hardest one.

Whether you're a freelancer, sole trader, or limited company director. Having the right business account can make invoicing, tax returns, and day-to-day finances considerably less painful.

This guide compares some of the top self-employed business accounts available in the UK right now. We've covered fees, features, and eligibility so you can find the one that fits your situation. We'll also touch on Wise Business as a solution, it's an all-in-one payments solution that can be a great choice for self-employed businesses.

💡 Learn more about Wise Business

Best self-employed business accounts compared

Here's an overview of the providers covered in this guide.

Use this as a starting point. Note that their fees and features can change, so always check the provider's website for the latest details.

Do you need a business account if you're self-employed?

It depends on your business structure. For instance, if you're a sole trader or freelancer, you're not legally required to have a dedicated business account.¹³ You could, in theory, run everything through your personal account.

If you've set up a limited company, though, it's a different story. A limited company is a separate legal entity, so it needs its own business account by law.¹⁴

Even if you're not obliged to open one, there are still a few good reasons why it’s worth considering:

• Cleaner records for HMRC: Keeping business and personal spending separate makes self-assessment tax returns much simpler.
• Making Tax Digital readiness: With MTD for Income Tax expanding from April 2026,¹⁵ having a dedicated account linked to accounting software can save you a lot of time.
• Professional image: Clients and customers feel comfortable paying into an account held in your business name
• Building credit for the future: Using a business account can help create a credit history for your company, which may be useful if you need financing later

It's also worth checking the terms and conditions of your personal account. Many banks specify that personal accounts shouldn't be used for business transactions. In most cases, a business account is the better choice anyway. It keeps your finances separate and often includes features designed specifically for businesses.¹⁶

Personal account vs business account: what's the difference?

If you're a sole trader weighing up your options, here's a quick comparison:

For many sole traders, a free or low-cost business account offers enough benefit to justify the switch, even if it's not a strict legal requirement.

What features to look for in a self-employed business account

So far, we know that not every business account is built the same. Before comparing providers, it helps to know which features actually matter for your situation:

• Invoicing tools: Some accounts let you create and send invoices directly from the app.
• Accounting integrations: Connecting to Xero, QuickBooks, or FreeAgent can automate bookkeeping.
• Multi-currency support: Useful if you invoice clients abroad or pay international suppliers.
• Expense cards: Handy for managing team spending or keeping business expenses separate.
• Interest on balances: Some providers offer interest or savings pots for idle business cash.
• Mobile app quality: If you're on the move, a well-designed app matters the most
• Making Tax Digital tools: Provide built-in MTD filing or integration with HMRC-recognised software.

Mettle by NatWest

Mettle ranked second in the CMA's independent survey for overall service quality among business current account providers.¹⁷ It's a free digital business account from NatWest, built specifically for sole traders and limited companies with up to two owners.¹

The account includes no monthly fees, free invoicing, instant payment notifications, and integrations with the accounting platform FreeAgent. It is offered at no extra cost, potentially saving at least £150 per year, provided you make at least one transaction per month.¹ For £4/month, Mettle+ add-on lets you create and send quotes in the app and convert them into invoices, with bespoke messaging templates.¹⁹

Mettle also offers savings pots, tax calculation tools, and support for mobile wallets such as Apple/Google Pay.

Starling business account

Starling is a UK-licensed bank offering a sole trader account with no monthly fees.³

The account includes features such as instant payment notifications, receipt capture, and automatic expense categorisation. It also allows free integrations with Xero, QuickBooks, and FreeAgent. You can add on a Business Toolkit (£7/month) for bookkeeping help, or EUR/USD accounts alongside your main GBP account if you regularly deal with international payments.

Tide business account

Tide offers four plans: Free, Smart, Pro, and Max.⁵ It's available to sole traders and limited company directors, with accounts provided through ClearBank, a UK-regulated banking partner.

Tide includes free Making Tax Digital tools, invoicing, expense tracking, accounting integrations, and support for Making Tax Digital. Users can also open a Tide Instant Saver account, which offers variable interest and occasional promotional rates for new deposits.

Wise Business

Wise is an electronic money institution that offers a business account. It's designed for businesses and self‑employed people who work with clients, suppliers, or currencies from abroad. And, businesses that want a simple tool for everyday accounting and payment management.

With Wise Business, you can:

• Hold and convert 40+ currencies
• Send payments to 140+ countries
• Get local and SWIFT account details to receive payments in multiple currencies (Advanced plan)
• Use debit and expense cards for business spending
• Earn returns on GBP, USD, and EUR balances with Wise Interest (capital at risk, growth not guaranteed)
• Connect to cloud accounting software such as Xero, QuickBooks, and more
• Batch payments
• Get paid by customers with payment links
• Invoicing capabilities

There are two plans:

• Essential: free to open, lets you convert, send, and hold multiple currencies, utilise any API or accounting capabilities and request payment links from your clients
• Advanced: £50 one-off set-up fee. It unlocks account details to receive payments in 40+ currencies. You can also access invoice tools, and direct debits.

Currency conversions use the mid-market exchange rate with a low, transparent fee from 0.33%.

💡 Learn more about Wise Business

ANNA Money business account

ANNA Money offers three plans:

• PAYG (free),
• Business (£22.90/month)
• Big Business (£59.90/month).⁷

These are available to sole traders, limited company directors, and LLP partners. Features include expense cards, local and international payments, payment links, and cashback on eligible card spending.

An overview of account fees: ⁷

Revolut Business account

The Revolut Business account is designed for registered companies (such as limited companies and partnerships) rather than sole traders.⁹ You'll need a fully incorporated business registered in an eligible country to open an account.

However, if you're self-employed or working as a sole trader, Revolut offers Revolut Pro instead. It is a separate account built for freelancers and individuals running a business in their own name.

For eligible businesses, Revolut offers four plans (Basic to Enterprise) with multi-currency support in 25+ currencies. The Basic plan has a £10 monthly fee, while Grow costs £30/month and Scale costs £90/month. Here's a breakdown of the plans: ⁹

The Basic plan gives you access to standard features, including multi-currency accounts, Revolut Business cards, IBANs for global transfers, accounting app integration, expense management, and the option to create invoices. You can also use Revolut to accept payments online.

If you upgrade plans, you can unlock features such as:

• Higher allowances for fee-free local and international payments
• Foreign exchange at mid-market exchange rates (monthly limits apply)
• Bulk payments
• Transfer approval
• Analytics tools
• Rewards
• Business API integrations.

Airwallex business account

Airwallex offers a flexible business account designed for companies operating internationally. It allows holding and managing funds in 20+ currencies.¹¹ The local bank details are available in multiple regions. This makes it particularly useful for cross-border payments.

The account is available to sole traders, limited companies, LLPs, and partnerships. It has a free tier, but paid plans are also available. You can choose according to your usage and business needs.

Airwallex is particularly geared towards businesses that accept online payments, with options for payment links and plugins. Its foreign exchange fees typically range from 0.5% for major currencies to around 1% for others, applied on top of interbank rates.¹¹

How to open a self-employed business account

The process is broadly similar across most providers:

1. Decide what matters most: Decide what matters most for your business, whether that’s multi-currency support, Making Tax Digital (MTD) tools, or a simple low-cost account.
2. Compare providers: Use the comparison table above as a starting point, then review each provider’s website for the latest fees and features.
3. Gather your documents: You’ll typically need a valid photo ID, proof of address, and basic business details (such as a registration number, if applicable).
4. Apply online: Most providers offer a quick, digital application that can be completed in minutes.
5. Verify your identity: This usually involves uploading your ID and a selfie or short video for security checks.

After approval, you can start using your account straight away in most cases, with a physical card arriving within a few days.

Choosing the right account for your business

There's no single right answer here. The account that works for a freelance designer won't necessarily suit a sole trader importing goods from overseas.

If you mainly work with UK clients and want a straightforward, free account, providers like Mettle, Starling, or Tide's free plan could be a good fit.

If you regularly deal in multiple currencies or invoice international clients, you might want to consider a provider with strong multi-currency features, such as Wise Business or Airwallex.

Discover Wise Business, the no-stress business account for self-employed work

Ready to manage your self-employed earnings like a pro? A Wise Business account helps automate a large part of all things related to invoicing, payments and money management - so you can spend more of your time delivering better results for your clients.

What's more, Wise Business can help you get paid easily from clients wherever they are. Whether your earnings are in Euros, Dollars, or Pounds, you’ll always be charged the mid-market rate and never pay any hidden fees. From fast payments and free custom invoices to payment links, card payments and accounting software integration, Wise Business is the choice for those working self-employed.

With Wise Business, you can:

• 🌍 Send money to 140+ countries at the mid-market exchange rate with low, transparent fees and no sneaky 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
• 🏢 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 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. Visit https://wise.com/gb/interest/ to find out more)
• 🔗 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)

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

Be Smart, Get Wise.

Register for Wise Business ✍️

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Investments can fluctuate, and your capital is at risk. Interest is offered by Wise Assets UK Ltd, a subsidiary of Wise Payments Ltd. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you're uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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*Disclaimer: The UK Wise Business pricing structure is changing with effect from 26/11/2025 date. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QuickPay QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.

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Sources used:

1. Mettle by NatWest
2. Mettle Trustpilot
3. Starling sole trader bank account
4. Starling Trustpilot
5. Tide business current account
6. Tide Trustpilot
7. ANNA Money pricing
8. ANNA Money Trustpilot
9. Revolut Business account plans
10. Revolut Trustpilot
11. Airwallex UK pricing
12. Airwallex Trustpilot
13. Gov.uk — Set up as a sole trader
14. Gov.uk — Set up a limited company
15. Gov.uk — Making Tax Digital for Income Tax
16. SimplyBusiness — Do the self-employed need a business bank account?
17. BVA BDRC — Business Banking Service Quality Survey (CMA)
18. Starling Sole Trader Account Fees PDF April 2026
19. Mettle+ - features

Sources checked: 10th April 2026.