An online business bank account for all the upstarts
Designed for businesses with a turnover of less than £1million, the M Account for Business is an online business bank account that gives you free digital banking for all your everyday needs.
- No monthly fee and free day-to-day online business banking.
- Eligible deposits are covered up to £85,000 per business.
- Switching to us is easy. You choose the date, we'll handle the rest.
A closer look at our online business bank account
Who's it for?
- Sole traders
- Limited Companies
- Limited Liability 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
- Receipt capture
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
- Exclusive Virgin StartUp benefitsWe work with Virgin StartUp to provide support, mentoring and training to our customers. They’re all about helping the founders of businesses get up and running and ultimately thriving. Get priority access to free MeetUp events, as well as 50% discount on any paid events such as Masterclasses and Scale Up events
Power up your business data and manage it in one place with our free insights and forecasting platform.
- Connect with a mix of key business tools.
- Use insights to help dig deeper and plan ahead.
- Access expertise from our business network.
The serious bits
- What you'll need to open a Business Account online
- Alongside other UK banks and UK Finance, we've agreed to a basic set of information that you'll need to supply to set up your new business bank account online. This simple guide will help you work out what information you need.
View the guide Link opens in a new window
- Our switch guarantee
- More on switchingSwitching 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
- View the FSCS guaranteeYour eligible deposits with Virgin Money are covered up to £85,000 per business.
Online business banking information
Before applying please make sure you have read the following:
- Annual turnover of less than £1million
- Based and operated in the UK
(excluding Channel islands, Isle of Man & Northern Ireland)
- Have owners, directors, senior management and account signatories over 18 years old
- Not currently bankrupt
- Have never been disqualified as a company director
- Operate in or trade with Crimea (Ukrainian territory), Iran, North Korea or Syria
- Are a shell bank
- Undertake money services business as a primary or secondary business activity (e.g. bureau de change, money transmitters and cheque encashment agencies)
- Are a medicinal cannabis related business
- Are an unregistered high value dealer
- Have nominee shareholders within the business structure
- Financial information, including business turnover
- Companies House name or registration number
(If applicable to your business)
- Three years of personal address history for anyone you want to operate and use this account, plus anyone who own or controls 25% or greater of the business
- If your business is a Limited Company, Partnership or a Limited Liability Partnership, we'll also need this information for any Directors, Partners, Members of Senior Management (Chairperson, Chief Executive/Managing Director)
- The authority to apply for this account on behalf of the business
- A business email and mobile phone number
- You may need to provide a live selfie and an identity document to confirm who you are with our identity partners HooYu
- If proof of trading is not provided at outset it must be as soon as information becomes available, within 6 months or your account is at risk of being closed
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 business bank 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 accounts