7 Business Bank Accounts with No Credit Check in the UK 2024

We've put together a selection of the best business accounts that are quick to open and don't require a credit check

Updated: July 14, 2024
Matt Crabtree

Written By

Matt Crabtree

|
Rachel Wait

Edited By

Rachel Wait

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7 Business Bank Accounts with No Credit Check in the UK 2024

If you have poor credit or your business has yet to build a credit history, it's worth looking for a business account that requires no credit check.

Thanks to the rise of challenger banks, there are now several online providers that offer business bank accounts without a credit check.

These are designed to help businesses manage their finances, no matter their credit score, and can usually be opened quickly.

Take a look at our comparison of the best business bank accounts with no credit check. These business bank accounts are easy to open and clear signup process meaning you can get started quickly.

ProviderScoreDetails
1. Cashplus Bank★★★★★Learn more
2. Tide★★★★★Learn more
3. Card One Money★★★★★Learn more
4. Mettle★★★★Learn more
5. ANNA Money★★★★Learn more
6. Countingup★★★★Learn more

At a Glance, Pros and Cons of opening a business account with no credit check.

Let’s summarise the pros and cons of opening a business account with no credit check.

ProsCons
✔️ Can help you to manage your finances — Keeping your company and personal finances separate will make it much easier to keep on top of your business spend and help you when it comes to filing your tax return.❌️ Bank fees — Some business accounts will charge monthly account fees, others will charge for everyday banking transactions, and some will charge for both.
✔️ You won't be breaking your bank's terms and conditions — Some banks won't agree to you using a personal bank account for business reasons, which is why it's worth opening a business bank account instead.❌️ More management — Having a business account and a personal bank account means there will be more cards and more passwords to remember, so twice the admin.
✔️ You could improve your company's credit rating — Having a business bank account can help your business build a credit rating. This can be beneficial if you later apply for a business credit card or business loan.

7 Best Business Current Accounts with No Credit Check

Here's our roundup of the best business accounts with no credit check.

ProviderMonthly FeeAccess
1. Revolut BusinessFrom £0App
2. Cashplus BankFrom £0App and Online
3. TideFrom £0App and Online
4. Card One MoneyFrom £12.50App and Online
5. MettleFreeApp and Online
6. ANNA MoneyFrom £0App
7. CountingupFrom £3App

1. Revolut Business — International business accounts with no credit check for startups (Easiest Bank Account to Open)

One of Europe's leading digital account providers, Revolut (review) began as a pre-paid currency card.

Headquartered in London, Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. In the UK, Revolut is not currently a bank but an e-money institution, authorized under the UK Electronic Money Regulations. This means, in particular, that FSCS protection does not apply to the e-money or payment services Revolut provides. However, your funds will be held in a safeguarded account.

Revolut has a banking license in the European Union, providing standard services for both individual and commercial clients.

Opening a Revolut business account does not need a credit check and you can apply for an account in a matter of minutes through the app. There are a number of different plans to choose from, depending on whether you want to pay a monthly fee or not. Plans that require a monthly fee offer higher monthly allowances for fee-free international transfers and fee-free local transfers.

You can hold and exchange funds in more than 25 currencies with Revolut and you can create and track invoices with ease.

Also Read: Revolut Business Review

2. Cashplus Bank (Business Go/Extra) — Top-rated business accounts with no credit check

Cashplus received its banking licence in 2019, which means funds of up to £85,000 are protected by the FSCS.

No credit check is required when you apply for a business account with Cashplus. All you'll need to do is verify your business is based in the UK and if you're a limited company, confirm the date of birth and address of any Persons of Significant Control.

It's quick and easy to open an account through the app or online.

Cashplus Business Go has no ongoing service charge (though there is a one-time card price of £9.95), whereas Cashplus Business Extra costs £9 per month (there is no card charge).

The primary difference between the Go account and the Extra account is the monthly limit on free payments and transfers. This is three per month for the Go account and 20 per month for the Extra account. There is a 30p fee for each additional transaction.

The Business Extra account also offers fee-free ATM withdrawals in the UK and abroad and provides 0.5% cashback on card spending. It also offers a Creditbuilder facility to help you improve your credit score.

You can pay in cash deposits at Post Office branches, and you can also integrate your account with accounting software.

Also Read: Cashplus Business Account Review

3. Tide — Popular FSCS-protected business accounts with no credit check

Tide is another fintech that offers business accounts. No credit check will be carried out when you apply. All you need to do is download the app, provide details about your company, upload your ID and take a selfie. Your account can then be approved in a matter of minutes.

You can choose from a free account, or upgrade to a premium plan with a monthly fee. The Plus account costs £9.99 a month (plus VAT), the Pro account costs £18.99 a month (plus VAT) and the Cashback account costs £49.99 a month (plus VAT).

All plans offer accounting software integration and the option to create and send invoices.

Most accounts are held with ClearBank which offers FSCS protection on deposits up to £85,000.

Cash payments can be made at any Post Office or PayPoint branch located across the United Kingdom.

Also Read: Tide Business Account Review

4. Card One Money — Digital-only business accounts with no credit check

Card One Money is another option to consider if you have poor credit. No credit checks are carried out when you apply, and your account can be up and running on the same day. However, it is the most costly account we looked at.

There are two business accounts to choose from. The Business account is for companies with an annual turnover of less than £2 million and costs £12.50 a month, plus a £55 application fee.

Alternatively, the Corporate account is for businesses with an annual turnover of more than £2 million and offers custom pricing.

You can manage your account online and via the app, manage and pay bills and invoices, and pay in cash and cheques. This can be done at any Barclays branch.

Note that there is no FSCS protection with Card One Money. Instead, your funds will be placed in a safeguarding account held with Barclays, NatWest, or the Bank of England.

5. Mettle — Free UK business accounts with no credit check

Mettle is a NatWest digital banking platform. This account doesn't cost anything and no credit checks are needed.

The Mettle Business account offers a range of benefits for businesses. These include the ability to set aside money for tax bills, create invoices, categorize transactions, and upload receipts so your records are always up to date.

If you apply for the account, you'll also get FreeAgent included, or you can sync your account to other software like Xero and QuickBooks.

The account also offers FSCS protection for deposits of up to £85,000.

You can pay in cash deposits at Post Office branches or at PayPoint locations. However, you won't be able to send or receive international payments with this account.

Also Read: Mettle Business Bank Account — An Early Access Success?

6. ANNA Money — Good business accounts with no credit check for creative professionals

You can sign up with an ANNA business account in just a few minutes.

ANNA stands for Absolutely No Nonsense Admin and the account is designed for small businesses and freelancers who would rather concentrate on their job than deal with mundane company administration tasks.

A debit card is included, as are tools to assist with accounting tasks like invoicing and keeping track of expenses. ANNA will chase invoices on your behalf and will even sort out your VAT and tax bills.

There are three types of accounts. Choose from a pay-as-you-go account, with no monthly fee but you pay for all transactions. Or you can opt for the Business account which costs £14.90 plus VAT a month, or the Big Business account for £49.90 plus VAT a month.

Withdrawing money from an ATM will cost you £1 for the pay-as-you-go plan, but you'll get three free withdrawals a month with the Business account and unlimited withdrawals with the Big Business account. Fees also apply to international payments.

Also Read: ANNA Business Account Review

7. Countingup — Competitive range of business accounts with no credit check

Countingup is a banking and accounting tool for small businesses and is ideal for sole traders and limited companies.

Expense tracking, automatic categorization and tax filing are just some of the streamlined and automated features of this account. It's easy to open and no credit check is required.

Direct Debits, standing orders, and the sending and receiving of payments are all be handled using the app at any time of day or night. In the event that your card is lost or stolen, you have the option of freezing it.

Pricing for Countingup depends on the tier you have. The first tier is for total monthly deposits of up to £750 and costs £3 a month. The second tier is for total monthly deposits of £750 to £7,500 and is £9 a month, and the third tier is for monthly deposits of £7,500 and above and costs £18 a month.

Withdrawing cash from an ATM, depositing cash into your account (through the Post Office), transferring money between accounts, and exchanging currencies all have their own fees.

Also Read: Countingup Business Review

Business Current Accounts with No Credit Check — Buying Guide

Let's take a closer look at no-credit-check business accounts.  

Do I need a business current account? 

If you run a limited company, you will be required to open a business bank account as your business is legally separate from you.

Freelancers and sole traders don't have to open a business account, but it can be advantageous to do so as it will help to keep your personal and business expenses separate.

Is there a way to avoid doing a credit check when opening a business account?

Yes, there are several online providers that offer business accounts that don't require a credit check when you apply. However, you will still need to provide a few personal details and information about your business, including proof of ID.

How to open a no-credit-check business account?

You will usually be able to open the account online or through an app. The following items are required to create a business bank account in the UK:

  • Valid photo identification, such as a passport, UK driver's license, or EU identity card.
  • A bank statement, utility bill, HMRC letter, etc. may all serve as acceptable proof of residence.
  • The company registration number of a limited company.
  • Your unique taxpayer reference number – you'll receive this once you have registered with HMRC.

You might also be asked to provide information about your company, such as the industry it operates in and its annual turnover.

How to Boost Your Business Credit Score?

The good news is that there are many things you can do to repair your business credit if it is in bad shape.

  • Check your business credit report regularly and make sure all information is up to date. Correct any errors. You can check your business credit report with Experian, Equifax, Credit Passport, Creditsafe, and Dun & Bradstreet.
  • If you're a limited company, always file full accounts rather than abbreviated accounts with Companies House. Make sure you file on time too.
  • Similarly, always pay bills on time. This has a big impact on your credit history.
  • Limit applications for credit as too many in a short space of time can make you look desperate. Space them out by three to six months.
  • Make sure your suppliers, customers and Companies House are kept up to date with any changes to your business address or status.

Leading business current accounts with no credit check: The Verdict

If you have poor credit, or perhaps your business hasn't been trading long enough to establish a credit history, the good news is you can still apply for a business bank account. However, you should compare your options carefully, checking what fees you'll need to pay and what features are on offer.

It can also pay to take the necessary steps to improve your business credit score, as this will ultimately help you get accepted for better deals, such as business credit cards or business loans, in the future.

Can I open a business bank account with Bad/Poor credit?

Yes. Having a poor credit score might restrict your options, but it shouldn't prevent you from opening a business bank account. Many online providers don't require a credit check to open a business bank account.

How will my credit score be affected if I create a business bank account?

When you apply for a business bank account at a major bank like NatWest, Barclays, etc., they will do a thorough credit check. This means that a credit check will be visible to other lenders even if you are ultimately approved for an account.
Each application can temporarily cause a dip in your credit score. You should therefore avoid making too many applications in a short space of time.
However, all of the accounts in the above guide won't carry out a hard credit check so it won't affect your credit score.

How hard is it to create a company bank account?

Many online business bank accounts can be applied for in a matter of minutes. You'll usually need to fill in an online form and provide an ID. In many cases, your account can be up and running the same day or the following working day.

I have terrible credit; how long will it be before I can create a business bank account?

Even if you have poor credit, this shouldn't prevent you from opening a business bank account. If you choose an account that doesn't require a credit check, your account can be up and running the same day.

Can I build or damage my personal credit by opening a business bank account?

That depends. If you're a sole trader, your business isn't legally separate from you which means your personal credit score can be affected. However, if you operate as a limited company, your firm will be a separate legal entity which means your personal credit score should not be affected.

Where can a company with poor credit open a business bank account?

It may be more challenging to open a business account with a standard high-street bank if you have a low credit score since these banks often do not have business accounts that are tailored to those with negative credit.
There are several new UK-based digital-only business account providers that do not carry out credit checks on applicants. Just make sure you check account fees first.

I was denied a business account, what should I do?

If your business account application has been rejected, check your credit report to see whether there are any errors and get them fixed as soon as possible. It can then be worth applying for a business bank account that doesn't require a credit check.

What is a “soft” credit check?

A soft credit check, also known as a soft search, is an inquiry into your credit history that does not have any impact on your credit score. A soft credit search will only be visible to you on your credit report. Other lenders won't be able to see it.
A hard credit check, also known as a comprehensive credit check, leaves a footprint in your credit file that may be seen by other lenders. Credit scores may be impacted by hard inquiries, and too many searches in a short period of time might give the impression that you're desperate for credit. The likelihood of your application being approved may decrease as a result of this.

When compared to brick-and-mortar institutions, how do online banks fare?

When enrolling for a business account, certain online-only banks won't check your credit score, which is a major perk. Therefore, a digital-only bank may provide an alternative to the large high-street banks for those with bad credit or for businesses that have not yet established a credit history.
There are several benefits that digital-only banks provide that traditional banks do not. To begin with, setting up an account is often done the same day you apply, and the application procedure is typically quick and painless. In addition, compared to traditional commercial bank accounts, digital-only accounts often come with cutting-edge extras. Your account may provide you with access to budgeting and accounting resources, for instance.
Keep in mind that many online-only banks won't provide an overdraft since they don't do credit checks. Credit products like an overdraft and company credit cards are standard features of most traditional business bank accounts.

I have a CCJ; would a bank still let me create a business account?

If your prospective lender does not do a comprehensive credit check, then yes. If you have terrible credit but want to apply for an account, you may still be able to do so with many digital-only providers since they only do soft searches.

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