A short, opinionated, independent shortlist of UK business banking for new and growing businesses. Tide is highlighted because of its current £200 cashback (REFER200) — but we explain when each alternative is the better pick. Last reviewed 12 October 2026.
Adam Short is the Editor of Business Account Referral, an independent UK guide to business current accounts, referral offers and account-opening incentives. He reviews provider pricing, product features, eligibility rules and promotion mechanics using official provider material, hands-on journey checks and structured comparison criteria.
Reviewed 12 October 2026 · About the team · How we review
There is no universal winner. Tide is the strongest first comparison for a cash-light new business that wants invoicing and expense administration in one app; Starling is the cleaner fit for a business that prioritises a licensed-bank model and 24/7 phone support; Monzo suits a tax-pot workflow; Revolut and Wise suit regular international payments; and Mettle, Cashplus or HSBC Kinetic may be better when NatWest/HSBC relationships, acceptance, lending or cash access matter more.
Data checked 12 October 2026. Fees, eligibility, protection and feature availability can change; use the linked provider source before applying. Next question: is Tide actually a good fit for your business?
This table separates the headline price from the practical decision points: how money moves, how cash is handled, whether accounting tools connect, who can apply and what trade-off you accept.
| Feature | Tide | Starling | Monzo | Revolut | Mettle | ANNA | Wise | Cashplus | HSBC Kinetic |
|---|---|---|---|---|---|---|---|---|---|
| Best for | New SMEs + cashback | Full UK bank, simple fees | Polished UX, tax pot | International / FX | Free sole traders | Automated tax & VAT filing | Multi-currency / FX | High acceptance + built-in credit | High-street bank, branch access |
| Monthly fee | Free / £12.49 Smart / £27.49 Pro / £69.99 Max | Free sole trader; £7/mo Ltd | Free Lite; £9/mo Pro | Free Basic + paid tiers | Free | Free Pay As You Go / £14.90 Business / £49.90 Big Business | One-off £45 setup for a business account, no monthly fee | Free Business Go; paid tiers from ~£9.95/mo | Free for Kinetic customers (eligibility applies) |
| FSCS | Via ClearBank-issued accounts | Yes | Yes | E-money — safeguarded | Via NatWest | E-money — safeguarded | E-money — safeguarded | Yes (Cashplus Bank) | Yes (HSBC UK) |
| Built-in invoicing | Yes (all plans) | Basic | Pro only | Yes | Yes | Yes (with auto-chasing) | Yes | Basic | No (uses HSBC tooling) |
| Multi-currency | No | EUR/USD on Business + Pro add-on | No | 30+ currencies | No | No | 40+ currencies | No | No |
| Sign-up offer | REFER200 up to £200 | — | — | Varies | — | — | — | — | — |
| Cash deposits | Post Office route; check current fee | Post Office route; fee applies | Limited / plan-dependent | Cash deposit not the core use case | Limited | Not designed for regular cash | Not designed for regular cash | Cash deposit options available | Branch/relationship options vary |
| Accounting integrations | Xero, QuickBooks, FreeAgent and more | Xero, FreeAgent and more | Xero and accounting connections | Xero, QuickBooks and more | Xero and accounting tools | Bookkeeping and tax-led workflow | Xero and accounting tools | Accounting connections vary | HSBC ecosystem and third-party tools |
| Main limitation | Protection depends on account model; Free has transfer limits | Ltd monthly fee and thinner admin tooling | Paid tier needed for some business tools | UK e-money and plan/FX limits | Narrower availability and feature set | Tax workflow is the reason to choose it | Not a primary UK banking replacement for every business | Product and credit eligibility vary | Onboarding and eligibility can be narrower |
We do not rank a provider on a single headline feature. Each comparison checks eligibility, monthly price, included and excess transfers, cash handling, international payments, invoicing, accounting connections, team access, savings or interest features, support, and the account-protection model. We then ask which trade-offs matter for a defined workflow: a cash-light freelancer, a growing limited company, a cash-taking shop or a business paid in several currencies.
Pricing and product terms change, so each verdict is a decision framework rather than a permanent universal ranking. Read the full review methodology and the comparison data notes before relying on a specific figure.
We disclose commercial relationships — currently a referral relationship with Tide via REFER200. Inclusion on this shortlist is not paid for, and a promotion does not determine a provider’s position. Our ranking logic is explained in the editorial policy and the review methodology.
Tide is an FCA-authorised business financial platform with ClearBank-powered current accounts and some PPS-powered e-money accounts. Its Free plan has no monthly fee, and its product range includes invoicing, expense management and accounting connections. It can be a strong fit if you are opening a first business account, transact mainly in sterling and want banking plus routine administration in one app. REFER200 is a conditional partner promotion worth up to £200 for eligible new applicants who meet the published conditions; it should not override suitability. See our Tide review and fee guide.
Fully licensed UK bank, full FSCS on the main account, free UK ATM withdrawals, 24/7 phone support. Built-in tooling is thinner than Tide. £7/month for limited companies; free for sole traders. Best when account protection or branch-style support matters more than tooling.
UK banking licence, FSCS-protected, with the polished UX of Monzo's personal app. Pro tier (£9/month) adds automatic tax pots and invoicing — the tax pot in particular is one of the cleanest features in UK SME banking. No current cashback offer.
Multi-currency from day one — hold 30+ currencies, send international payments at near-interbank rates within plan limits. Not the right answer for UK-only SMEs (it's e-money in the UK, not FSCS-protected), but the obvious answer if international flows dominate your business.
Free business account from NatWest, aimed at sole traders and small Ltd companies. FSCS via NatWest. No current cashback. A good safe-default option if Tide's e-money/FSCS nuance bothers you and Starling's monthly fee for Ltd companies doesn't appeal.
ANNA's stand-out feature is built-in VAT and Corporation Tax filing — calculated, set aside in a pot, and submitted to HMRC from the app. Pay As You Go tier is free; paid tiers add unlimited transfers and bookkeeping. Best pick if tax admin is the part of running your business you most want to outsource. See our Tide vs ANNA comparison.
Hold and convert 40+ currencies at the mid-market rate plus a transparent per-conversion fee. One-off setup fee, no monthly fee. UK e-money (safeguarded, not FSCS). Best as a secondary FX account alongside a UK operational account. See our Tide vs Wise comparison.
Fully licensed UK bank with high application acceptance and a built-in business credit card / overdraft facility once eligible. Useful when other providers decline or when access to credit on day one matters. See our Tide vs Cashplus comparison.
HSBC's app-first business account for sole traders and small Ltd companies, with FSCS via HSBC UK and access to wider HSBC lending and FX. Slower onboarding and narrower tooling than Tide, but the right answer if you want a high-street bank relationship. See our Tide vs HSBC Kinetic comparison.
High-street incumbent business accounts (HSBC Kinetic, Barclays, Lloyds, NatWest) remain useful for specific needs — cash-heavy businesses, regulated industries, lending relationships, large balances above FSCS limits across multiple providers — but for a clean digital-first SME shortlist they typically lose on fees, application friction or tooling.
Prices and limits change, so these are decision examples rather than quotes. The point is to show why the “best” account changes when your workflow changes.
Five UK transfers, ten card purchases, four invoices and no cash deposits. Tide Free or Mettle can keep the monthly fee at £0; choose Tide when integrated invoicing, expense capture and the current REFER200 opportunity matter. Choose Mettle when a NatWest-backed protection model is the priority.
Twenty UK payments, regular invoice chasing, a connected accountant and a tax reserve. Compare Tide Smart, Starling and Monzo Pro on the actual transfer count and tax workflow; the cheapest headline plan is not necessarily the cheapest once payment volume and admin time are included.
Six monthly EUR payments, two USD receipts and a GBP operating account. Compare the live FX quote, receiving details, conversion spread and plan limits on Revolut Business or Wise, then keep a UK operational account separately if local payments and FSCS eligibility are important.
Do not start with a digital-account cashback headline. Price the cash deposit route, settlement timing and branch or Post Office availability first; Cashplus or a high-street bank may be more practical than Tide, Starling or Monzo.
Compare Tide, Starling and HSBC Kinetic on monthly fee, transfer volume, cards, accounting connections, support and lending relationship. Tide is attractive when operational administration is the bottleneck, not simply because REFER200 exists.
Tide Free, Starling and Mettle are sensible first comparisons. Pick Tide for the combined account, invoicing and expense workflow; pick Starling for the licensed-bank model and phone support; pick Mettle for a simple NatWest-backed free account.
Separate day-to-day convenience from balance protection. Review whether balances sit in a ClearBank-powered account or safeguarded e-money, spread larger balances across providers where appropriate, and compare Instant Saver terms before moving working capital.
Even if REFER200 disappeared tomorrow, Tide would remain a credible first account for a cash-light UK sole trader, freelancer or new limited company that values app-first administration. The reasons are the combination of a £0/month starting plan, invoicing, expense tools, accounting connections and a clear upgrade path. The counter-case is equally important: a business that deposits large amounts of cash, needs a high-street lending relationship, operates heavily in multiple currencies or wants one simple licensed-bank protection model should compare alternatives first. The promotion is a tie-breaker, not the product thesis. See the review methodology and Tide’s current pricing before applying.
Tide’s REFER200 is a current structured cashback promotion for eligible new applicants, worth up to £200 across card-spend and Instant Saver conditions. Tide can change or withdraw the offer and controls approval, eligibility and validation.
Many UK SMEs run two providers — one for operations, one for FSCS comfort or international FX. There's no requirement to choose only one.
Inclusion is not paid. We disclose all commercial relationships — currently a referral relationship with Tide via REFER200. See our editorial policy.
Tide Free, Starling (sole trader), Monzo Lite and Mettle are all genuinely free at the entry tier. Tide's edge in 2026 is the REFER200 cashback on top of the free plan.
Tide can suit a business that wants banking, invoicing, expense data and optional company formation in one app. Starling can suit a business that prioritises a licensed-bank model. Compare the exact workflow, fees and account protection rather than relying on a possible promotion.
Starling, Monzo Business, Mettle (via NatWest) and Tide ClearBank-issued accounts are FSCS-eligible up to £120,000. Revolut Business and Tide e-money accounts are safeguarded but not FSCS-protected.
Revolut Business for multi-currency and FX volume. Wise (alongside any UK account) for cheap one-off international payments. Starling for occasional EUR/USD.
All five providers on our shortlist integrate with FreeAgent, Xero and QuickBooks. Tide and Starling are the most commonly recommended pairings by UK contractor accountants.
Annually, or whenever your turnover, transfer volume or international flows change materially. Switching is easier than it used to be: Tide, Starling, Monzo Business, Mettle, Cashplus and HSBC Kinetic support the Current Account Switch Service for eligible businesses, which is designed to complete in seven working days.
Yes, technically — but two well-chosen accounts cover most needs (one operational, one for FSCS or FX). Multiple accounts add admin without proportionate benefit for most SMEs.
Open Tide with REFER200
Start with Tide’s £0/month plan, payments, invoicing and expense tools—then add REFER200 at sign-up for up to £200 cashback.
Open a modern business account with payments, invoicing and expense tools—then add REFER200 as you apply.
REFER200Offer verified 12 October 2026. Up to £200 cashback for eligible new Tide business-account customers. Tide terms and eligibility apply.
Independent introducer disclosure: this site is not Tide and is not operated by Tide. If you sign up using our link or the code REFER200, we may receive a referral reward. Tide controls account approval, eligibility and cashback validation. This is not financial advice. Always check the latest Tide terms before applying. Last checked 12 October 2026.