Looking for a freelancer bank account? In today’s flexible job market, more and more individuals are choosing the freelancer lifestyle, embracing the benefits of setting their own hours and choosing their projects.
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One of the essential aspects of successfully managing a freelancing career is financial management, and at the centre of this is choosing the right bank account.
This article will walk you through the top 10 freelancer bank accounts available in the UK, comparing and reviewing their key features.
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Business banking alternatives
 | Wallester Business ✓ Virtual & Physical Cards ✓ No Setup Fees ✓ No Monthly Fee Pricing Trial period Contact | |
 | Revolut Business ✓ Business Current Account ✓ Award-Winning Mobile App ✓ Quick & Easy Application Process Pricing Trial period Contact | |
 | Tide Business Bank Accounts ✓ Free, Plus, or Pro Account ✓ iOS & Android Mobile App ✓ Upload & Auto-Match Receipts Pricing Trial period Contact | |
 | Card One Money ✓ No Credit Checks ✓ Simple Fees ✓ Up To 3.5% Cashback Pricing Trial period Contact | |
 | ANNA Money ✓ Apply In 10 Minutes ✓ Bookkeeping & Payroll Tools ✓ User-Friendly Mobile App Pricing Trial period Contact | |
 | HSBC Business Banking ✓ Business Current Account ✓ In-Branch, Online & App Banking ✓ FSCS Protected Pricing Trial period Contact | |
 | Metro Business Banking ✓ Business Current Account ✓ High Street Presence ✓ FSCS Protected Pricing Trial period Contact | |
 | Mettle Business Banking ✓ Business Bank Account ✓ Online & App ✓ Quick & Easy Application Process Pricing Trial period Contact | |
 | Monzo Business Banking ✓ Business Current Account ✓ Dedicated mobile app experience ✓ FSCS Protected Pricing Trial period Contact | |
 | Virgin Money ✓ Business M Account ✓ In-Store, Online & App Banking ✓ Insights & Forecasting Platform Pricing Trial period Contact |
What is the best freelancer bank account?
| Bank | Monthly Fee | Transaction Fee | Key Features |
|---|---|---|---|
| Starling Bank | £0 | £0 | Free electronic payments, mobile cheque deposits, integration with accounting software |
| Monzo Business Lite | £0 | £0 | Budgeting tools, integration with accounting software |
| Revolut Business | From £7 | £0 | Multi-currency accounts, automated payments, instant notifications |
| Tide | £0 | 20p for transfers | Instant invoicing, direct invoice payment, financial management tools |
| Metro Bank | Varies based on transactions | Varies based on transactions | Physical branches, free digital transactions, accounting software integration |
| Coconut | From £3.60 | £0 | Automated tax estimates, expense categorisation, invoice management |
| Cashplus | From £69 annually | £0.99 for ATM withdrawals | Fast online application, no credit checks, credit building feature |
| Countingup | From £4.95 | £0 | Automated tax calculations, invoice generation, expense categorisation |
| ANNA Money | From £5 | £0 | Invoice creation, reminders, chasing late payments |
| Barclays Business | From £6 | Varies based on transactions | Access to business support, workshops, and dedicated team |
1. Starling Bank Business Account
Starling Bank offers a compelling business account tailored for freelancers. There are no monthly fees, and the account includes benefits such as free electronic payments, mobile cheque deposits, and integration with popular accounting software like Xero and QuickBooks. Its easy-to-use app and 24/7 customer service offer a good overall user experience.
2. Monzo Business Lite
Monzo Business Lite account is free and comes with budgeting features that make it easy for freelancers to manage their finances. The account also includes handy integrations with accounting tools and software such as FreeAgent and Xero.
3. Revolut Business
Revolut Business provides multi-currency accounts, ideal for freelancers working with international clients. Features such as automated payments, instant notifications, and seamless integration with accounting software make it a good choice for freelancers.
4. Tide Business Banking
Tide’s business account is designed with the needs of freelancers in mind. It offers competitive transaction fees, instant invoicing, and tools to help you manage your financial records efficiently. The ability to create and pay invoices directly from the account is a definite plus for busy freelancers.
5. Metro Bank Business Current Account
Metro Bank provides an excellent business current account with physical branches if in-person banking is your preference. The bank offers competitive charges, free digital transactions, and integration with most major accounting software.
6. Coconut
Coconut is a banking service designed specifically for freelancers, offering automated tax estimates, expense categorisation, and invoice management. The ability to see an estimate of your tax bill in real-time can be a great help come tax return time.
7. Cashplus Business Account
The Cashplus business account is designed for freelancers who value simplicity and convenience. It offers fast online application, no credit checks, and a straightforward fee structure. One unique feature is the ability to build a credit score through the account.
8. Countingup
Countingup is a business current account combined with accounting software. This makes it extremely useful for freelancers who wish to minimise the time they spend on bookkeeping. The account offers automated tax calculations, invoice generation, and expense categorisation.
9. ANNA Money
ANNA (Absolutely No-Nonsense Admin) Money is designed for creative freelancers who wish to minimise administrative hassle. It offers features like invoice creation, reminders, and even chasing late payments. The account comes with a monthly fee, but the array of features might well justify the cost.
10. Barclays Business Account
A Barclays business account provides freelancers with a trusted banking brand and a comprehensive digital banking service. The account has a monthly fee, but this includes access to Barclays’ extensive business support, including workshops and a dedicated Barclays Business Direct team.
Freelancer bank account – Verdict
It’s important to remember that the best freelancer bank account for you depends on your unique needs.
Factors such as whether you work with overseas clients, how much administrative support you need, and whether you prefer digital or in-person banking will all play a part in your decision.
Make sure to review the options and consider which features are most important to you before making your choice.
Freelancer bank accounts FAQ
Having a separate bank account for your freelance business can make it easier to manage your finances. It can simplify tax returns, help track expenses, provide a clear separation between personal and business income, and offer specific features tailored to the needs of freelancers.
Yes, some banks offer freelancer bank accounts with no credit check, such as the Cashplus business account. However, the features and fees may vary compared to accounts that do perform credit checks.
Yes, some freelancer bank accounts, like Revolut Business, offer multi-currency holding capabilities. This is a great feature if you work with international clients and receive payments in different currencies.
Many freelancer bank accounts offer features to simplify accounting tasks, such as automated expense categorisation, invoice generation, tax calculations, and integration with popular accounting software.
Key considerations should include monthly and transaction fees, ease of use, the availability of accounting and invoicing features, the potential to hold multiple currencies, and whether the bank is digital-only or has physical branches.