For UK small businesses, neobanks offer several advantages over high street banks. They provide quick account setup, real-time tracking, and seamless integrations with accounting software.
(See “Neobanking for UK Small Businesses: Is It Right for You?“) Before choosing a neobank, check whether they have a full banking licence and what security measures they implement.
1. Starling Bank – A fully licensed bank with no monthly fees, multi-currency accounts, and great integration with business tools.
2. Monzo Business – Offers free and paid plans, smart budgeting tools, and FSCS protection.
3. Tide – Focused on small businesses, providing fast setup and powerful invoicing features.
4. Mettle (by NatWest) – A free business account with accounting integrations and no monthly fees.
5. Revolut Business – Strong for international businesses, with multi-currency support and competitive exchange rates.
