RBS vs TSB for business banking

Last checked and updated on 7 August 2023

Choosing the right bank for your business is a critical step in ensuring financial stability and fostering growth. It’s an important decision that hinges on various factors such as financial products, services, and customer support. Today, we will scrutinise two of the UK’s top banking institutions, the Royal Bank of Scotland (RBS) vs TSB. Both are renowned for their exceptional business banking services, but how do they stack up against each other?

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Online BankingComprehensive online banking platform with real-time account access, invoicing services, and cash flow forecastingStandard online banking platform with real-time account access
Mobile BankingRobust mobile app with full banking services, alerts, and cash flow trackingMobile app with full banking services and alerts
Customer Support24/7 customer service via phone, email, and online chat24/7 customer service via phone and email
Overdraft FacilityAvailable, with interest rates between 5-10% EAR (variable)Available, with interest rates between 5-15% EAR (variable)
Business Credit CardAvailable, annual fee of £30Available, annual fee of £32
Business LoansRange of business loans available with competitive interest ratesRange of business loans available with competitive interest rates
Fixed-rate Business AccountsAvailable, competitive fixed ratesAvailable, competitive fixed rates
Variable-rate Business AccountsAvailable, competitive variable ratesAvailable, competitive variable rates
Cash Flow ForecastingAvailable on online and mobile banking platformsNot available
Invoicing ServicesAvailable on online and mobile banking platformsNot available
Automated Expense TrackingAvailable on online and mobile banking platformsNot available
Business Mentor SupportAvailable, with dedicated business managersAvailable, with dedicated business managers
Free Business Current Account PeriodUp to 24 monthsUp to 18 months
Fee-free International PaymentsAvailable, but limitedNot available
Dedicated Business ManagerAvailable, provides personalised business adviceAvailable, provides personalised business advice
Fraud Prevention ToolsAdvanced fraud prevention tools and security measuresStandard fraud prevention tools and security measures
Business Savings AccountAvailable, competitive ratesAvailable, competitive rates
Merchant ServicesAvailable, offers card payment services for businessesAvailable, offers card payment services for businesses
Free Text AlertsAvailable, real-time alerts for account activityAvailable, real-time alerts for account activity
Personalised Business AdviceAvailable, through dedicated business managersAvailable, through dedicated business managers
Startup SupportComprehensive startup support including mentorship, resources and toolsFree business banking period and resources for startups

Co-Op Business Banking
✓ Business Current Account
✓ Online, App & High Street Banking
✓ Quick & Easy Application Process

HSBC Business Banking
✓ Business Current Account
✓ In-Branch, Online & App Banking
✓ FSCS Protected

Metro Business Banking
✓ Business Current Account
✓ High Street Presence
✓ FSCS Protected

Mettle Business Banking
✓ Business Bank Account
✓ Online & App
✓ Quick & Easy Application Process

Monzo Business Banking
✓ Business Current Account
✓ Dedicated mobile app experience
✓ FSCS Protected

Tide Business Bank Accounts
✓ Free, Plus, or Pro Account
✓ iOS & Android Mobile App
✓ Upload & Auto-Match Receipts

Virgin Money
✓ Business M Account
✓ In-Store, Online & App Banking
✓ Insights & Forecasting Platform

RBS (Royal Bank of Scotland)

The Royal Bank of Scotland (RBS) has a long-standing history in UK banking and is recognised for its solid business banking offerings. They are dedicated to empowering businesses of all sizes, from startups to large corporations, and have a robust selection of banking products and services.

Pros and cons


  • Comprehensive Business Products: RBS offers a wide array of business banking products, including loans, overdrafts, business accounts, and more.
  • Excellent Online and Mobile Banking: RBS’s digital banking platforms are user-friendly, providing a convenient way for businesses to manage their finances.
  • Specialised Support: RBS offers dedicated business managers and mentor support, aiding businesses with personalised advice and guidance.
  • Strong Security Measures: Their fraud prevention tools and security measures ensure the safety of your business transactions.


  • Limited Free International Payments: While RBS does offer international payment services, they are limited and come with additional charges.
  • Can be Costly: After the initial free period, some services can become quite expensive.

Table of fees and charges

Business Current Account£5 per month
Business Credit Card£30 per annum
Overdraft Facility5-10% EAR (variable)
International Payments£10-£30 per transaction
Cash/cheque Handling0.60%-1.50%
RBS fees and charges

Unique and standout features

RBS’s standouts include their comprehensive digital banking platforms and specialised business support.

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Their online and mobile banking platforms provide real-time access to account information, cash flow forecasting, automated expense tracking, and invoicing services.

These features enable businesses to efficiently manage their finances anytime, anywhere.

The bank’s business mentor support and dedicated business managers set it apart.

These resources provide businesses with personalised advice and guidance, aiding them in making informed financial decisions.

Additionally, RBS’s strong commitment to startup support ensures that new businesses have the tools they need to thrive.


TSB Bank, a high-street name in UK banking, is known for its straightforward banking solutions. They provide a range of business banking services designed to cater to both small and medium-sized businesses, emphasising on making banking simple and transparent.

Pros and cons


  • Straightforward Banking: TSB offers easy-to-understand and uncomplicated business banking services.
  • Competitive Rates: Their business banking products often come with competitive interest rates and terms.
  • Good Customer Service: TSB has a reputation for providing excellent 24/7 customer support.
  • Free Business Banking Period: TSB offers a longer free business banking period compared to other banks.


  • Lack of Advanced Digital Features: Unlike RBS, TSB does not offer advanced features such as invoicing services and automated expense tracking.
  • Limited International Business Services: TSB does not provide free international payments, which might be a disadvantage for businesses with global transactions.

Table of fees and charges

Business Current Account£5 per month
Business Credit Card£32 per annum
Overdraft Facility5-15% EAR (variable)
International Payments£15-£25 per transaction
Cash/cheque Handling0.65%-1.50%
TSB fees and charges

Unique and standout features

TSB prides itself on its simplicity and straightforwardness.

Their business banking products are easy to understand, making it easier for businesses to manage their finances effectively.

Additionally, their competitive rates on business products offer businesses a cost-effective banking solution.

TSB’s commitment to excellent customer service, including their dedicated business managers and 24/7 support, ensures businesses receive the help they need, whenever they need it.

Their extensive free business banking period also allows businesses to manage their finances without worrying about banking costs in their early stages.

Conclusion – RBS vs TSB

Both RBS and TSB offer robust business banking solutions, each with their unique strengths.

RBS stands out with its advanced digital features and specialised support services, making it an excellent choice for businesses seeking comprehensive banking solutions.

TSB, on the other hand, offers straightforward and competitively priced services, making it ideal for businesses that value simplicity and cost-effectiveness.

Ultimately, the choice between RBS and TSB will depend on your business’s specific needs and preferences.

It’s crucial to consider the features that are most important to your business, such as digital banking capabilities, international payment services, or the cost of banking services.


Do both banks offer a free business banking period?

Yes, both RBS and TSB offer a free business banking period. RBS offers up to 24 months, while TSB offers up to 18 months.

Which bank offers better digital banking features?

RBS offers more advanced digital banking features, including cash flow forecasting, automated expense tracking, and invoicing services.

Do RBS and TSB offer international business services?

Both banks offer international business services. However, RBS provides limited free international payments, while TSB does not offer this feature.

Which bank is more suitable for startups?

Both banks provide startup support. RBS offers a wide range of specialised support services, while TSB’s extended free banking period can be beneficial for startups managing their initial costs.

Can I get a business credit card from both banks?

Yes, both RBS and TSB offer business credit cards. The associated annual fees and benefits may vary, so it’s best to review each bank’s specific offerings.

Are the overdraft facilities similar in both banks?

Both banks provide overdraft facilities, but the terms and interest rates can vary. RBS typically charges 5-10% EAR (variable), and TSB charges 5-15% EAR (variable). Always check the most current rates.

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