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.
Best Business Current Accounts with No Credit Check in 2024
Here's our roundup of the best business accounts with no credit check.
| Provider | Monthly Fee | Access |
|---|---|---|
| 1. Revolut Business | From £0 | App |
| 2. Zempler Bank | From £0 | App and Online |
| 3. Tide | From £0 | App and Online |
| 4. Card One Money | From £12.50 | App and Online |
| 5. Mettle | Free | App and Online |
| 6. ANNA Money | From £0 | App |
| 7. Countingup | From £3 | App |
1. Revolut Business — International business accounts with no credit check
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. Zempler Bank (Business Go/Extra) — Top-rated business accounts with no credit check
Zempler 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 Zempler. 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.
Zempler Business Go has no ongoing service charge (though there is a one-time card price of £9.95), whereas Zempler 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: Zempler 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
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.
| Pros | Cons |
|---|---|
| ✔️ 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. |
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.
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.
