Business Current Account

A business bank account with no monthly account fee for Sole Traders and Single Directors.

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Our Business Current Account

Account highlights

From start ups to established businesses, this account has no monthly account fee, a choice of ways to bank and dedicated business help advisors. Bank your way: Online. On the phone. On the go.

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No monthly fee

Benefit from no monthly service fee

Read the full tariff for all fees and charges

Free digital banking

No fees on digital transactions

Account opening

Single Directors and Sole Traders could receive their account details within two days

Key information

Our Business Current Account benefits from:

  • Free software integration

    Integrate your accountancy software like Xero, Sage or Quickbooks within your online banking

  • Free payment request app

    Go Get Paid, the free, simple and secure app to help you get paid on time

  • Free support tools

    Start up guides, articles on the Business Exchange, free webinars and fraud education

  • UK-based help and support

    Specialist business advisers on the phone and The Co-operative Bank Business Help app

  • Business services

    Partnership service offerings include insurance, sustainability tools, merchant services, HR tools and tech support

  • A choice of ways to bank

    Online and in-person banking including mobile, instant secure messaging, telephone and in-branch

Ready to apply?

Check your eligibility and apply.

Tariff and fees

Our Business Current Account has no monthly account fee for the period which you hold your account. And, digital transactions are free, making this account a great option for people who prefer to bank online.

Cash and cheque transactions attract a fee, along with specialist services. You can read the full tariff of fees and charges in the Business Current Account Tariff PDF.

Free digital transactions

Charges apply for cash and cheque transaction and other special services, e.g. foreign and CHAPS payments

  • Savings

    You can apply for one of our savings accounts during your application for this bank account.

    View our savings accounts

  • Overdrafts

    During your account application, you can also apply for an arranged overdraft for cash flow and short term borrowing.

    More about our overdrafts

How to apply

Please note: Your application is subject to status. This means we’ll assess your financial circumstances and complete credit checks.

If you’ve already started an application you can continue it here.

Before you apply

If you haven’t already, please read these documents before you apply.

To be eligible for the Business Current Account you and key individuals must be:

  • 18 or over
  • A UK resident with a business address in the UK
  • Free from county court judgements (CCJs), bankruptcy and individual voluntary arrangements (IVAs) over the last six years
  • Free from missed payments on any personal credit obligations in the last six months

You or your organisation must be either a:

  • Sole trader
  • Limited company that is owned or controlled by one person

If your organisation is a limited company, the following must be true:

  • The director has never been disqualified
  • The business has never been subject to insolvency or an intention to dissolve
  • The business has not had a negative net worth in the last set of financial accounts

Your application is subject to status. This means we’ll assess your financial circumstances and complete credit checks.

Not eligible for this account?

You may be eligible for one of our other accounts.

See other accounts

To apply for the Business Current Account, you'll need:

  • your business details, including tax information, expected turnovers, existing business current account details (if applicable), funds received by your business, and your Companies House registration number
  • a form of identification, such as your passport or driving license
  • a device (such as a phone with a camera) to take and upload a photo of yourself so we can verify your identity during the application process
  • change giving requirements (if you’re requesting change giving facilities).

As a provider of UK business bank accounts, we have agreed to a basic set of information we’ll need from you to set up your UK business current account.

Find out what you’ll need to provide using the business banking checklist from UK Finance.

View UK Finance’s guide to opening a business account

    Read the following important documents and save copies for your future reference.

    Business account terms and conditions PDF

    Business Current Account tariff PDF

    Standards of lending practice PDF

    How we use your personal information PDF

    FSCS information sheet and exclusions list PDF

    Current account switch agreement PDF

    To view information on charging periods and pre-notification dates please visit our account charging page.

    Criminals recruit people to help them hide their criminal profits

    Never open a bank account in either your name/business name for someone else to use, or agree to move money through your account for someone else – even if they offer you money in return. If you do this, you could be committing a crime with serious consequences.

    Learn more

    Apply

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    Application timeline

    • Less than 45 minutes

      Apply online

      On average completing the application takes less than 45 minutes. You can also save it to complete later.

    • Within 5 business days

      Get a decision

      We aim to give decisions within five business days. If approved, your account details will be ready at the same time.

    • Within 3 business days

      Set up

      You will receive your online login information and security token details within three business days of application approval.

    Continue a business account application

    Continue a Sole Trader or single director application

    Continue an application

    Already have a business current account somewhere else?

    Our Current Account Switch Service makes switching your account simple, fast and free.

    Learn how to switch your business account to us.

    Current Account Switch Guarantee logo

    Not found what you were looking for?

    Business Directplus

    For those who want a choice of how they bank

    Suitable for businesses of all sizes

    Free for 30 months, then £7 per month thereafter

    Banking limits and minimum balance apply

      • Pay in cheques and cash for free

      • Online and in-person banking options

      Federation of Small Businesses account

      An account built for small businesses

      No monthly service fee

      Banking limits apply

      • Lower banking fees

      • No arrangement fees on overdrafts

      Cash Tariff

      For businesses who have a high cash turnover

      Benefit from low cash handling fees

      £10 monthly fee

      • Lower cash depositing fees

      • Open to any business type

      Financial Services Compensation Scheme

      Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

      Please read further information on the FSCS scheme here or visit their website.