M Account for Business
Small business banking – with big benefits
Sole trader, startup or a small business? Earn unlimited 0.25% cashback from our business bank account with no monthly account fee.
Terms apply.
Apply for an account
The online account for small businesses
M Account for Business is our Five-Star Rated current account for businesses with an annual turnover under £1m.
So, it's perfect if you're self-employed, or a sole trader, startup or small business.
Our most popular account
- £0 monthly account fee
- Free day-to-day app and online banking
- Five-Star Rated by Moneyfacts
- Works seamlessly with software like Xero, Sage and Shopify
Get more bang for no buck
No monthly account fee
£0
per month
Pay no monthly account fee – and get free day-to-day app and online banking1
Unlimited cashback
0.25%
Get cashback on your debit card spending with no cap on how much you earn2
Mastercard Business Savings
£££
Earn extra rewards from Mastercard on your debit card spending2
1 Terms and conditions apply.
Special offer
Xero free for 6 months
Get everything you need for Making Tax Digital with our free business accounting software offer.
Fancy free Xero business accounting software for your first 6 months? You can choose from different packages for any size and type of business – whether you’re self-employed or a growing small business.
Using software like Xero can save you time and effort on your business admin. You can even take photos of receipts to instantly manage your expenses.
Just open one of our business current accounts to claim your special offer.
Terms and conditions apply.
View Xero offer
Construction trades special offer
Open an M Account for Business to get a truckload of discounts and benefits...
- £4 Costa Coffee voucher every month for a year
- 0.5% unlimited cashback on trade supplies
- Money off breakdown cover and business insurance
Terms and conditions apply
A closer look at our online business bank account
Who's it for?
- Start-Ups
- Sole traders
- Limited Companies
- Limited Liability Partnerships
- Partnerships
- Those with an annual turnover less than £1million
What does it work with?
- Compatible with Apple and Google Pay
- Can be integrated with SageFrom Business Internet Banking and our app, you can integrate with Sage
- Can be integrated with XeroFrom Business Internet Banking and our app, you can integrate with Xero
- Can be integrated with QuickBooksFrom Business Internet Banking and our app, you can integrate with QuickBooks
- Automated business spending categorisation
What are the features?
- Make free UK bank transfersNo payment charges on UK bank transfers. You can make a domestic bank transfer (we are part of the UK’s Faster Payments network) of up to £30,000 per transaction in your app / on Business Internet Banking
- Mastercard discountsMastercard discounts available when you use your Debit Card at selected merchants, including tax software, travel and more. Savings discounts Terms and Conditions apply
- In-app cheque scanning
- Manage scheduled payments
- Instant payment notifications
- Expert mentoring and guidance from Virgin Startup
- Paper-free statements and most letters
M-Track dashboard
Power up your business data and manage it in one place with our free insights platform.
- Connect with a mix of key business tools.
- Use insights to help dig deeper and plan ahead.
- Access expertise from our business network.
Good to know
What you'll need to open an account
Together with other UK banks and UK Finance, we've established a basic set of information required to open a new business bank account online.
Switch your current account
Switching to us is straightforward with the Current Account Switch Service. You choose the date you'd like to switch and we'll do the rest.
Protecting your money
Sleep easy with protection on your combined eligible deposits with Virgin Money and Nationwide up to £120,000. Provided through the Financial Services Compensation Scheme (FSCS).
How to open an account
Check if you can open an account. And find out what you need when you apply.
To open an account, your business needs:
- an annual turnover under £1m
- an owner, director, senior manager or account signatory aged 18 or over
- to operate and be based in the UK, excluding the Channel Islands, Isle of Man and Northern Ireland
You can’t open an M Account for Business if you’re a club, charity or society. Instead, we have specific clubs, charities and societies accounts.
And if your business handles client funds, you’ll need our Professional Firms Client Account.
Your business won't be able to open an account if:
- the person applying for the account is bankrupt
- any director has ever been disqualified as a company director
- there are bearer shares
You also can’t open an account if the business, its owners, or its controllers are linked to countries outside Virgin Money’s risk appetite – or the business is in an industry outside our appetite.
Business details
When you apply, we need info about you and the setup of your business, including:
- business activity
- business finances and turnover
- countries you trade with
- email and phone number
- Companies House name and registration number, if your business has them
Address history
We need your personal address history for the last 3 years. And we need it for anyone else who’ll use the account.
If your business is a limited company, partnership or LLP, we also need address history for all directors, partners and senior managers, as well as for anyone who owns or controls 25% or more of your business.
Proof of identity
As part of your application, you may have to provide ID and a live selfie to our verification partner, Mitek.
You can find out more about what you need to open a business bank account on the UK Finance website Link opens in a new window.
How to get your £150
Close ModalApply between 15 June 2026 and 23:59 on 14th July 2026. Use the promo code VM150.
By 14 August 2026 you'll need to:
- Pay in at least £500.
- Set up and log in to Business Internet Banking.
- Add your new debit card to your digital wallet and make a payment.
All being well, we'll pay £150 into your account by 14th September 2026.
Exclusions
- Existing Virgin Money business banking customers.
- Limited companies with more than 25 directors or 3 levels of ownership.
- Not-for-profit organisations.
For more info, read the full terms and conditions Link opens in a new window.
ContinueApply for an account
Open an M Account for Business to get free online banking, cashback, smart tools and more…
An easy way to track, budget and pay
Show your money who's boss with our super-smart online business banking tools.
- Manage your ins and outs
- View previous statements. Set up and manage Direct Debits and standing orders.
- Be in the know
- Set your weekly transaction and balance alerts as you like it.
- Tap, touch, ta-da!
- Deposit cheques digitally and pay with Apple Pay and Google Pay.
Which account has your name on it?
This isn't the only business current account we can offer you. To help you decide if it's the one for your business, see how it stacks up against the others.
Compare business current accounts