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Business Current Accounts

Whichever you choose, you get a Debit Card, cheque book (if applicable), optional savings account, as well as access to Business Internet Banking and Business Banking App.

Account featuresM Account for
Business
Business Current AccountBusiness Choice AccountProfessional Firms Client Account
Available toStart-ups and switchers with a turnover less than £1mAll businessesAll businessesAll businesses that hold and manage clients' funds
No monthly account fee
(subject to qualifying criteria)
Yes
Yes
Yes
No
Free banking for 25 months subject to qualifying criteria [1]
No
No
Yes
Yes
For designated client accounts only
Base rate linked credit interestNo
No
No
No
Yes
Yes
Yes
Yes
Transaction charges
Business banking tariffs
Yes
Yes
Free day-to-day online banking [5]
Yes
Yes
Unless subject to 25 month free day-to-day banking offer [1]
Yes
Yes
Yes
Yes
Unless designated client account
Planned borrowingPlanned borrowing (subject to status) is when you have agreed an overdraft limit with us on your business account, allowing you to continue to make payments up to the value of your agreed overdraft limit.
Yes
Yes
£1,000 available at account opening. (subject to lending assessment)
Yes
Yes
Subject to lending assessment.
Yes
Yes
Subject to lending assessment.
Yes
Yes
Unplanned borrowingUnplanned borrowing happens when you exceed the amount available in your account, including any overdraft facility, without first agreeing it with us. The fee is applied for each business day that we make a payment where your unplanned position is greater than the value of your unplanned borrowing buffer. [2]
(Unplanned Debit Interest & Daily Unplanned Borrowing Fee applies)
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Returned item feeThis fee will be charged when there is not enough money in your account or agreed overdraft to make a payment and we refuse the request. We will charge an unpaid item fee of £4.00 for M Account for Business or £16.00 for business current accounts.Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Business Internet Banking*, Mobile & TelephoneYes
Yes
*Automatic Business Internet Banking Registration
Yes
Yes
Yes
Yes
Yes
Yes
Apple Pay and Google PayYes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Contactless Debit MastercardYes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
How to apply?Find out more about this M account for BusinessFind out more about this Business Current accountFind out more about this Business choice accountFind out more about this Professional Firms Client account

Charities, Clubs and Societies

Whichever you choose, you get a Debit Card, Cheque book (if you want one), optional savings account, as well as access to Business Internet Banking and Business Banking App.

Account featuresCharity Choice AccountClubs & Societies Current AccountClubs & Societies Choice Account
Available toRegistered charitiesClubs, societies, unregistered charities and non-profit making organisationsClubs, societies, unregistered charities and non-profit making organisations
No monthly account fee
(subject to qualifying criteria)
Yes
Yes
Yes
Yes
No
No
Base rate linked credit interest
(if applicable)
Yes
Yes
No
No
Yes
Yes
Transaction charges
Business Banking Tariff Guide
Yes
Yes
Unless your charity's turnover is under £1 million [3]
Yes
Yes
Unless you make 10 or less transactions a month [4]
Yes
Yes
Planned borrowingPlanned borrowing (subject to status) is when you have agreed an overdraft limit with us on your business account, allowing you to continue to make payments up to the value of your agreed overdraft limit.
Subject to lending assessment. 
Yes
Yes
Yes
Yes
Yes
Yes
Unplanned borrowingUnplanned borrowing happens when you exceed the amount available in your account, including any overdraft facility, without first agreeing it with us. The fee is applied for each business day that we make a payment where your unplanned position is greater than the value of your unplanned borrowing buffer. [2]
(Unplanned Debit Interest & Daily Unplanned Borrowing Fee applies)
Yes
Yes
Yes
Yes
Yes
Yes
Returned item feeThis fee will be charged when there is not enough money in your account or agreed overdraft to make a payment and we refuse the request. We will charge £16.00 for an unpaid item.Yes
Yes
Yes
Yes
Yes
Yes
Business Internet Banking, Mobile & TelephoneYes
Yes
Yes
Yes
Yes
Yes
Apple Pay and Google PayYes
Yes
Yes
Yes
Yes
Yes
Contactless Debit MastercardYes
Yes
Yes
Yes
Yes
Yes
How to apply?Find out more about this Charity Choice accountFind out more about this Clubs & Societies Current accountFind out more about this Clubs & Societies Choice account

[1] From 15th April 2021, this offer applies to new customers with a turnover of less than £6.5 million switching their main business current account or start ups opening their first account within 12 months of beginning trading. Cash transaction limit of £250,000 p/a. Excludes international and CHAPS payments. At the end of the free banking period, you will move to our Business Banking Tariff Guide.

[2] In the event that you exceed your borrowing arrangements without prior agreement, a higher rate of interest will be charged on the excess borrowing. As explained in the Terms and Conditions applicable to your Account, Unplanned Borrowing that totals less than the Buffer Amount will not attract the Daily Unplanned Borrowing Fee. The Buffer Amount is detailed in the Tariff Guide. Link opens in a new window

[3] Charities Choice Account - Registered Charities with turnover of less than £1m per annum qualify for free transactional banking. No charges apply to cash or cheque deposits and withdrawals, Direct Debits or other automated transactions. Our Business Banking Tariff Guide details charges and fees that apply.

[4] Clubs & Societies Current Account - Not for profit with 10 transactions or less per month qualify for free transactional banking. No charges apply to cash or cheque deposits and withdrawals, Direct Debits or other automated transactions. Our Business Banking Tariff Guide details charges and fees that apply.

[5] Excludes international and CHAPS payments. Turnover more than £1 million? Check out our Business Current Account.

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