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
Your helpful new business partner
Running a small business can be hard work! But we’re here to give you a helping hand...
- Easy money management
Help control your cashflow with our debit cards and credit cards.* Plus put money aside in one of our savings accounts.
- Flexible 24/7 banking
Make quick contactless payments with Apple Pay and Google Pay – and manage your money on the go with app and online banking.
- Small business borrowing options
Give your business a safety net, or borrow for future growth, with a credit card, overdraft or loan from our business finance options.*
- Seamless online accounting
Sync your accounting tools like Xero, Sage, Shopify and Quickbooks, and use our free M-Track business insights platform.
* Credit is subject to status and eligibility.
Earn cashback and rewards on your business spending
Use business debit and credit cards to help control your cashflow – and earn cashback.
Open an M Account for Business or Business Current Account, then use your debit or credit cards on business purchases to get cashback. The money you earn is paid straight into your account each month: no forms, no hassle!
And you get extra rewards with Mastercard Business Savings – with money back on software, hotels, dining and much more.
Find out about cashback and rewardsTerms and exclusions apply.
M Account for Business at a glance
Key features and fees of our current account for sole traders and small businesses. Terms and conditions apply.
Features
| Cashback | 0.25% – with no cap on how much you can earn a year |
|---|---|
| Moneyfacts rating 2026 | ⭐️⭐️⭐️⭐️⭐️ Five Star |
| Xero free for 6 months | Yes |
| Current Account Switch Guarantee | Yes |
| FSCS protection | Up to £120,000 on eligible deposits |
Fees
| Monthly account fee | £0 |
|---|---|
| Day-to-day app and online banking | Free |
| UK debit card payments | Free |
| Direct Debits and standing orders | Free |
Features
- Cashback
- 0.25% – with no cap on how much you can earn a year
- Moneyfacts rating 2026
- ⭐️⭐️⭐️⭐️⭐️
Five Star - Xero free for 6 months
- Yes
- Current Account Switch Guarantee
- Yes
- FSCS protection
- Up to £120,000 on eligible deposits
Fees
- Monthly account fee
- £0
- Day-to-day app and online banking
- Free
- UK debit card payments
- Free
- Direct Debits and standing orders
- Free
You can find details of all account fees in our tariff guide, including cash withdrawals, CHAPS payments and international payments.
M Account for Business Tariff GuidePDF | 314KB Link opens in a new window
Construction trades special offer
Builders, painters, plumbers, electricians... 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.
- 10% off Green Flag business breakdown cover with 24/7 roadside assistance.
- 10% off Superscript business insurance with van cover, tool insurance and public liability insurance.
Terms and conditions apply.
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 3 August 2026 and 10:00 on 1 September 2026. Use the promo code AUG150.
By 28 September 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 2 November 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, our account for sole traders and small businesses – and start earning unlimited 0.25% cashback...
M Account for Business FAQs
A small business only legally needs a business bank account if it’s registered as a limited company. But if your business isn’t a limited company, having a dedicated business account is still a good idea.
A business bank account can help you:
- see how well your business is doing
- protect your personal assets, like your home
- separate your personal and business finances
- save time on admin, accounting and doing your taxes
- boost your business credit rating
Also, some banks don’t let you use personal accounts for business transactions. You can check this in your account’s terms and conditions.
If you’re self-employed or a sole trader, you don’t legally need a business bank account, unless you’re registered as a limited company. But having a dedicated business account is still a good idea.
A business bank account can help you:
- see how well your business is doing
- separate your personal and business finances
- save time on admin, accounting and doing your taxes
- boost your business credit rating
Also, some banks don’t let you use personal accounts for business transactions. You can check this in your account’s terms and conditions.
Any business can open an M Account for Business as long as the annual turnover is under £1m. Or, if you’re a startup or new business, you expect your turnover to be under £1m.
This means you can open an M Account for Business if you’re self-employed, a freelancer, a contractor or a sole trader. And you can also open an account if your business is a limited company, partnership or limited liability partnership.
Whether you’re a freelancer, contractor or sole trader, having a business bank account can help you build your business success.
A business current account can help you:
- control your finances and see how well you’re doing
- earn cashback on your business spending
- protect your personal assets, like your home
- separate your personal and business finances
- save time on admin, accounting and doing your taxes
- boost your business credit rating
Whether you’re a freelancer, contractor or sole trader, having a business bank account can help you build your business success.
A business current account can help you:
- control your finances and see how well you’re doing
- earn cashback on your business spending
- separate your personal and business finances
- save time on admin, accounting and doing your taxes
- boost your business credit rating
Yes. It’s easy to switch your business account to us.
When you apply for your new account, just tell us the details of your old account. Then we’ll take care of everything else for you.
Sole trader and small business banking
Your building blocks for business success
Starting a business or looking to expand? Discover everything you need to take your business to the next level.
Current accounts
Find your perfect business bank account – whether you’re self-employed, a startup, a sole trader or a big business.
Savings accounts
Grow your business with our range of savings accounts – including notice, fixed-term and instant access accounts.
Credit cards, loans and overdrafts
Control your cashflow with our Five-Star Rated credit card, and get short and long-term finance to help your business thrive.
Business Insurance
Protect your business with flexible, hassle-free cover from our insurance partner, Superscript.
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