A UK business account should give the money a clear address. Choose it after recording the legal structure, expected payments, cash and international needs, user permissions, integrations, protection or safeguarding position and full fee pattern.
The account has a job
Which structure will own the money?
A limited company needs finances kept separate; sole traders still benefit from a clean evidence trail and must check personal-account terms.
How will customers pay and where will money travel?
Cash, cards, marketplaces, foreign currency and processor reserves change the useful account.
What is the total annual cost in an ordinary month?
Monthly fees alone hide transaction, deposit, FX, cash and integration costs.
| Compare | Ask | Record |
|---|---|---|
| Eligibility and documents | Can this structure and activity be accepted? | Evidence supplied and renewal dates |
| Money movement | Cash, card, marketplace, FX and payout needs | Fees, limits, holds and settlement time |
| Control | Users, approvals, exports and integrations | Who can move money and recover access |
Frequently asked questions
Business.gov.uk says sole traders are not legally required to have one, but personal-account terms may prohibit business use and separation simplifies records.
A company is legally separate from its owners, so company money must be kept distinct and the account should be in the company's name.
Expect identity and address evidence, business details, activity and financial information; companies may also need incorporation and director records. Each provider sets its own requirements.