UK business accounts compared: key facts
| Provider | Type | Protection | Free plan? | Free transfers? | Cash deposits | Built-in invoicing | FX fee |
|---|---|---|---|---|---|---|---|
| Tide | Fintech (ClearBank-powered) | FSCS up to £120,000 (via ClearBank) | Yes | No (20p each on Free) | Post Office + PayPoint | Yes | 2.75% (Free/Smart) |
| Starling Business | Licensed bank | FSCS up to £120,000 | Yes | Yes (unlimited) | Post Office | Yes (basic) | 0.4% |
| Monzo Business | Licensed bank | FSCS up to £120,000 | Yes | Yes (unlimited) | Post Office | Yes (basic) | Varies |
| Revolut Business | E-money institution | Safeguarding | Yes | 5 free/month then charged | Very limited in UK | Yes | 0.4% (paid plans) |
| Mettle | NatWest-backed bank | FSCS up to £120,000 | Yes (only plan) | Yes (unlimited) | Post Office | Via FreeAgent | Varies |
| Wise Business | E-money institution | Safeguarding | No monthly fee | Free (GBP-GBP) | Not available | Yes (basic) | 0.4–1% |
Bank or e-money: the difference that matters most
The most important structural difference between UK business accounts is regulatory status. Starling, Monzo and Mettle (backed by NatWest) are licensed banks with FSCS deposit protection for eligible deposits up to the standard £120,000 limit per eligible person, per authorised firm.
Tide is not itself a bank, but Tide Business Current Accounts are powered by ClearBank, a licensed UK bank. Eligible deposits in the Tide business current account can receive FSCS protection up to £120,000 per eligible depositor, per banking licence — the standard UK FSCS deposit-protection limit (increased from £85,000 to £120,000 on 1 December 2025), subject to eligibility and FSCS aggregation rules. Revolut and Wise are e-money institutions that safeguard funds under the Electronic Money Regulations, which is a different mechanism from FSCS deposit protection.
For most businesses holding a modest working balance, the practical difference is limited. For a business planning to hold a large reserve, Tide's ClearBank-powered account is subject to the same standard £120,000 FSCS deposit-protection limit as other eligible UK bank deposits, subject to eligibility and aggregation rules. Check whether you already hold deposits with ClearBank through another provider, as those balances count toward the limit.
Transfer costs compared
Transfer costs are the most significant practical difference between providers at the free tier. Starling, Monzo and Mettle all offer unlimited free outbound transfers. Tide charges 20p per transfer on the Free plan. For a business sending 50 transfers per month, that is £10/month in transfer fees — equivalent to a paid plan on some providers.
Tide's paid plans (Smart from £12.49/month, Pro from £27.49/month) include a monthly transfer allowance. The calculation shifts when you factor in Tide's bundled invoicing and admin tools, which may replace a separate subscription.
| Provider | Outbound transfers (free plan) | Standing orders | Direct Debits |
|---|---|---|---|
| Tide Free | 20p per transfer | Included | Included |
| Starling Business | Free (unlimited) | Free | Free |
| Monzo Business Lite | Free (unlimited) | Free | Free |
| Revolut Business Basic | 5 free/month, then charged | Included | Included |
| Mettle | Free (unlimited) | Free | Free |
| Wise Business | Free (GBP to GBP) | Not available | Not available |
Cash and cheque deposits
Cash-handling businesses should treat cash deposit capability as a hard filter before comparing other features. Revolut and Wise do not offer practical UK cash deposit routes. Tide has the widest cash deposit network (Post Office and PayPoint), which is a genuine advantage for tradespeople, market traders and hospitality businesses.
| Provider | Cash deposit route | Typical charge | Cheque deposits |
|---|---|---|---|
| Tide | Post Office + PayPoint | £1 per deposit | Yes (by post) |
| Starling Business | Post Office | £1 per deposit | Yes (by post) |
| Monzo Business | Post Office | £1 per deposit | No |
| Revolut Business | Very limited / not available | N/A | No |
| Mettle | Post Office | £1 per deposit | No |
| Wise Business | Not available | N/A | No |
Admin tools: invoicing, receipt capture and accounting
Tide's built-in invoicing and receipt capture are its strongest differentiators for UK domestic businesses. For a sole trader or small company doing their own bookkeeping, Tide's bundled tools can replace a separate invoicing subscription. Mettle's inclusion of FreeAgent free is a strong counter-argument for businesses that already use FreeAgent.
| Provider | Built-in invoicing | Receipt capture | Accounting integrations | Company formation |
|---|---|---|---|---|
| Tide | Yes — all plans | Yes | Xero, FreeAgent, QuickBooks, Sage | Yes |
| Starling Business | Yes (basic) | Yes (via integrations) | Xero, FreeAgent, QuickBooks | No |
| Monzo Business | Yes (basic) | Yes (via integrations) | Xero, FreeAgent, QuickBooks | No |
| Revolut Business | Yes | Yes | Xero, QuickBooks | No |
| Mettle | Via FreeAgent (included free) | Via FreeAgent | FreeAgent (primary) | No |
| Wise Business | Yes (basic) | No | Xero, QuickBooks | No |
International payments and FX
For businesses trading internationally at volume, Wise Business and Revolut Business are materially better than Tide, Starling or Monzo on FX costs. Wise's mid-market rate with transparent fees is typically the cheapest option for international payments. Tide's 2.75% FX fee on lower plans is among the highest on this list.
| Provider | FX fee (free/entry plan) | Multi-currency accounts | Receive in foreign currencies | Best for |
|---|---|---|---|---|
| Tide | 2.75% | No | GBP only | Occasional international payments |
| Starling Business | ~0.4% | No | GBP only | Occasional international payments |
| Monzo Business | Varies | No | GBP only | Occasional international payments |
| Revolut Business | 0.4% (paid plans) | Yes — 25+ currencies | Yes — local account details | Regular international trading |
| Mettle | Varies | No | GBP only | UK-domestic only |
| Wise Business | 0.4–1% | Yes — 40+ currencies | Yes — 10+ countries | High-volume international payments |
Best-fit scenarios by business type
| Business type | Best choice | Runner-up | Reason |
|---|---|---|---|
| New limited company (formation + banking) | Tide | Starling | Tide offers company formation in-app; Starling does not |
| Sole trader wanting free banking + FSCS | Tide, Mettle or Starling | Monzo Business | Tide via ClearBank (£120k); Mettle/Starling (£120k) |
| High-transfer-volume business | Starling or Monzo | Mettle | Unlimited free transfers; Tide charges per transfer |
| Business needing built-in invoicing | Tide | Mettle (via FreeAgent) | Tide's invoicing is most developed for UK domestic use |
| Business using FreeAgent | Mettle | Tide | Mettle includes FreeAgent free; Tide integrates but does not include it |
| International payments at volume | Wise Business | Revolut Business | Mid-market FX rates; multi-currency accounts |
| Cash-handling business | Tide | Starling | Tide has Post Office + PayPoint; Revolut and Wise have no cash deposit route |
| Business wanting FSCS on large balance | Tide (£120k via ClearBank) | Starling or Monzo | Tide has the highest FSCS limit at £120k for business accounts |
How to compare fairly
- Price your own realistic month of transactions, not the headline free plan or the most expensive tier.
- Count cash and cheque deposits by number of deposits, not by value deposited — most providers charge per item.
- Check the deposit protection or safeguarding arrangement for the largest balance you expect to hold.
- Test invoicing or accounting features with real use before migrating a live business.
- Weigh the switching cost separately from the running cost: standing orders, card details with suppliers, and accounting software links all need re-pointing.
Real-world cost scenarios: what you would actually pay
Published fee tables are useful but incomplete. The table below calculates the realistic monthly cost for three common business profiles across the main providers. All figures use published 2026 pricing; Tide figures assume the Free plan.
| Scenario | Tide | Starling | Monzo Business | Revolut Business | Wise Business |
|---|---|---|---|---|---|
| Low-volume sole trader (10 transfers, no cash, £300 card spend, 1 user) | £0/mo | £0/mo | £0/mo | £0/mo | ~£0/mo |
| Cash-heavy retailer (80 transfers, £5,000 cash deposited, 3 users) | ~£3–5/mo (cash deposit fees via Post Office/PayPoint) | ~£3/mo (cash deposit fees) | Not available (no cash deposits) | Not available (no UK cash deposits) | Not available (no UK cash deposits) |
| International consultant (20 transfers, £2,000 monthly foreign-currency card spend, regular SWIFT payments) | ~£10–15/mo (FX fees + SWIFT charges on Pro/Max) | ~£5–10/mo (competitive FX on Starling) | ~£5/mo (competitive FX on Monzo Business) | ~£0–5/mo (best FX rates, interbank on paid plans) | ~£0–3/mo (best FX rates, mid-market) |
A note on sign-up offers
Most providers run sign-up incentives at some point. The REFER200 offer pays up to £200 cashback to new Tide members who complete two qualifying steps. It is worth having if Tide was already the right choice for your business. It should not pull you away from a better-suited alternative — the ongoing fee structure and protection model apply every month for as long as you hold the account.