Small business bank accounts
Small business banking – with big benefits
Find the account to build your business on, whether you’re self-employed, a startup, or a small business looking to expand.
Accounts that work for you
M Account for Business
No monthly account fee – plus free day-to-day online banking.
For sole traders, startups and small businesses with an annual turnover under £1m.
Five-Star Rated by Moneyfacts.
Business Current Account
25 months’ fee-free banking for eligible
businesses.
For small and medium-sized businesses with an annual turnover under £6.5m.
Five-Star Rated by Moneyfacts.
Award-winning business banking
We don't like to brag. But in May 2026, our Business Current Account and M Account for Business were awarded Five-Star Ratings by Moneyfacts. Again!
And at the Business Moneyfacts Awards 2026, we won Best Service from a Business Bank for the second year in a row, and Best Business Current Account Provider!
View our business current accountsHow a small business account can help you
See how a business account can help you thrive, whether you’re a new startup or an established small firm.
1. Control your business finances
With a dedicated small business bank account, you can stay on top of your bills, expenses and income – and clearly see how your business is doing.
For added flexibility, you can pair your account with a savings account – or if you trade overseas, a foreign currency account.
2. Pay fast – and get cashback
Our business debit and credit cards are ready to go with Apple Pay and Google Pay: letting you make fast, flexible payments anytime, anywhere.
And you can get up to 1% cashback1 and extra rewards on business spending with our debit cards and Business Credit Card.2
3. Integrate your business tools
Our online bank accounts work seamlessly with business and accounting software like Xero, Shopify and QuickBooks. This can save you time and effort on your business admin.
And you get added control of your business admin and finances with our free insights platform, M-Track.
4. Simplify your tax returns
Syncing your bank account and accounting tools sets you up for Making Tax Digital Link opens in a new window. This is HMRC’s scheme making it compulsory for you to keep and submit taxes digitally.
To help you with this, when you open one of our business current accounts, you can get Xero free for 6 months.3
5. Improve your credit rating
Having a well-managed business bank account is a great way to improve your small business credit rating – helping you to plan and borrow for growth.
So, whether you want an overdraft, a credit card or are looking for a loan, check out our business finance options.2
6. Enjoy safe, simple, supported banking
You get full FSCS protection up to £120,000 on your eligible deposits with our small business accounts. And we’ll help you stay safe from scammers with our business fraud help.
You can apply for your account online in minutes, then manage it securely with 24/7 app and online banking.
1 Terms and exclusions apply. 2 Credit subject to status. 3 Terms and conditions apply.
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.
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
Who can open a small business account?
- Small businesses
Limited companies, partnerships and limited liability partnerships with an annual turnover under £6.5m.
- Startups
New ventures and businesses.
- Self-employed people
Freelancers, contractors and sole traders.
Let’s get down to business
Check if you’re eligible to open one of our small business bank accounts.
18 or over
Owner, director, senior manager or account signatory aged 18 or over
UK-based
Operate in the UK (not Isle of Man, Channel Islands or Northern Ireland)
Turnover under £6.5m
Annual turnover, or expected turnover, under £6.5m
M Account for Business
No monthly account fee – plus big benefits for every type of small business.
- £0 monthly account fee
- Unlimited 0.25% cashback on debit card spending
- Xero free for 6 months
- Free day-to-day app and online banking
Terms and conditions apply.
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.
What you need to open a small business account
You can apply online in minutes. You’ll need your mobile and email when you apply.
When you apply, we need some info about you and the setup of your business. And we also need details about:
- what your business does
- any countries you trade with
- your business finances, including turnover
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.
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 eligible deposits up to £120,000 per business. Provided through the Financial Services Compensation Scheme (FSCS).
Small business bank account 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.
View our business current accountsIf 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.
View our business current accountsYes. 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.
You can’t open an M Account for Business or Business Current Account 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.
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.
Find out about switching business bank accountsApple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
Google and Google Pay are trademarks of Google LLC.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.