Compare Contractor Business Bank Accounts
Use our free comparison tool to find the best accounts contractor bank accounts. Don’t pay unnecessary costs.
- Separate business and personal transactions
- Find the best bank account for your business
- Compare rates and features
We have found 8 contractor business accounts ordered alphabetically
Countingup
Countingup
Monthly Fee
From £3
Free Banking Period
3 months
FSCS Protection
No
Great for
- Online application, sign up under 10 minutes
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be a UK resident and at least 18 years old
- Meet standard AML/KYC, fraud and credit checks and processes.
Key facts
| Monthly Fee: | From £3 |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | No |
| Foreign Exchange: | No |
Revolut
Free
Monthly Fee
Free
Free Banking Period
Ongoing
FSCS Protection
No
Great for
- Online application, sign up under 10 minutes
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be a UK director and at least 18 years old
- You must be a UK resident
Key facts
| Monthly Fee: | Free |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | No |
| Foreign Exchange: | No |
Revolut
Grow
Monthly Fee
£25
Free Banking Period
No
FSCS Protection
No
Great for
- Online application, sign up under 10 minutes
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be a UK director and at least 18 years old
- You must be a UK resident
Key facts
| Monthly Fee: | £25 |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | No |
| Foreign Exchange: | No |
Revolut
Scale
Monthly Fee
£100
Free Banking Period
No
FSCS Protection
No
Great for
- Online application, sign up under 10 minutes
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be a UK director and at least 18 years old
- You must be a UK resident
Key facts
| Monthly Fee: | £100 |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | No |
| Foreign Exchange: | No |
Tide
Tide Free
Monthly Fee
Free
Free Banking Period
Ongoing
FSCS Protection
Yes
Great for
- Invoicing directly from the Tide app
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be at least 18 years old
- You must be a UK resident
- You must not be bankrupt
- You must have a working mobile phone and email address
Key facts
| Monthly Fee: | Free |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | On application |
| Foreign Exchange: | No |
Funds are FSCS protected up to £85,000Tide
Tide Plus
Monthly Fee
£9.99 + VAT
Free Banking Period
No
FSCS Protection
Yes
Great for
- Invoicing directly from the Tide app
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be at least 18 years old
- You must be a UK resident
- You must not be bankrupt
- You must have a working mobile phone and email address
Key facts
| Monthly Fee: | £9.99 + VAT |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | On application |
| Foreign Exchange: | No |
Funds are FSCS protected up to £85,000Tide
Tide Pro
Monthly Fee
£18.99 + VAT
Free Banking Period
No
FSCS Protection
Yes
Great for
- Invoicing directly from the Tide app
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be at least 18 years old
- You must be a UK resident
- You must not be bankrupt
- You must have a working mobile phone and email address
Key facts
| Monthly Fee: | £18.99 + VAT |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | On application |
| Foreign Exchange: | No |
Funds are FSCS protected up to £85,000Tide
Tide Cashback
Monthly Fee
£49.99 + VAT
Free Banking Period
No
FSCS Protection
Yes
Great for
- Invoicing directly from the Tide app
But be aware that
- You must have a working mobile phone and email address
Eligibility
- You must be at least 18 years old
- You must be a UK resident
- You must not be bankrupt
- You must have a working mobile phone and email address
Key facts
| Monthly Fee: | £49.99 + VAT |
| Direct Debits: | Yes |
| Standing Orders: | Yes |
| Mobile App: | Yes |
| Credit Facility: | On application |
| Foreign Exchange: | No |
Funds are FSCS protected up to £85,000Capalona's service contains affiliate links to third party providers and products. We may receive a commission on any sales of products or services made through these links, at no extra cost to you. All information is subject to change without notice.
Business bank accounts to suit all types of UK SMEs
Whether you are a small start-up looking to open a new business bank account, or a large established SME looking to switch, we have a range of online bank accounts that cater for all types of businesses.
We've helped many businesses find the best business bank accounts for their needs
We work with an extensive range of business bank account providers in the UK. Our comparison can help you choose the best offer that's right for your business so you can keep on top of your companies finances.
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1Search OfferSearch for your preferred business bank account from startup bank accounts to switching bank accounts.
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2Compare ProvidersCompare business bank account providers in seconds.
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3Select & ApplySimply select the best business bank account offer for your needs. You'll be redirected to the provider's website to complete the process.
Business Bank Accounts for Contractors
As a contractor, your business structure might mean you’re legally required to have a business bank account. If you’re not legally required, you might choose to have one - for many reasons - the main reason being to separate your business from your personal finances.
Finding the best bank account for your business doesn’t need to be complicated. That’s why our comparison tool exists to help contractors like you quickly find and compare the best accounts on the market.
Our comparison tool is 100% free for you to use. Ready to compare accounts? Let’s go.
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What is a contractor business bank account?
A contractor business account is just like any business bank account. It helps you keep your business and personal finances separate. As a contractor, you might be classed as a sole trader, self-employed or a limited company. Your business structure dictates whether you’re required by law to have a business bank account.
For example, if you’re a contractor trading under a limited company, you’re legally required to have a business bank account. But if you’re a sole trader or classed as self-employed, you’re not legally obliged to separate your personal and business accounts. If you’re working under an umbrella company, you’re technically an employee, so you don’t need a business bank account either.
Am I eligible for a contractor business bank account?
To be eligible for a contractor bank account you must:
- Be a new company, sole trader, or self-employed looking for your first bank account.
- Pass lender eligibility - eligibility criteria will differ depending on the provider. Visit our dedicated provider page to learn more.
Remember, you can switch to a free business bank account at any time, you’re not tied into any bank account.
What is the best contractor business bank account for 2021?
You can find the most up-to-date account information for comparison in the above table. We’re frequently updating them to ensure they’re updated with the latest information.
The ‘best’ contractor bank account looks different to everyone, and remember, you’re not legally obligated to have a business account if you’re self-employed or a sole trader. There are many benefits of a business-specific bank account, including the facility to invoice; they can also help you build business credit and make you look more professional too.
Compare bank account providers.
How do I apply for a contractor business bank account?
Applying for a contractor business bank account is easy. Start by comparing accounts in our table above, check out each provider by reading their dedicated provider page, then select your favourite and apply directly on their site.
Ready to compare the accounts on offer? Compare now.
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