Opening a business bank account is one of the first — and most important — steps for any entrepreneur. But if you’re an expat looking to start or run a business in the United Kingdom, the process can feel a little more complex. Different banks have different requirements, and as a non-resident, you may find that traditional banking isn’t always the easiest option.
The good news? The UK banking sector is highly competitive and globally connected. Whether you’re launching a small startup, managing a consultancy, or running an international e-commerce business, there’s a solution built for you.
In this detailed guide, we’ll break down the best UK business bank accounts for expats, explore the features, fees, and requirements of each, and help you find the one that fits your business goals perfectly.
Why Having a UK Business Bank Account Matters
Let’s start with a question: can you really run a business in the UK without a local bank account? Technically, yes — but practically, it’s a nightmare.
Here’s why a UK business account is essential:
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Professional credibility: Clients and suppliers expect payments in GBP to a local account.
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Financial separation: It helps you keep business and personal transactions separate — vital for taxes.
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Easier accounting: You can automate invoices, expenses, and bookkeeping.
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Legal compliance: HMRC (the UK tax authority) expects clear business financial records.
In short, a business bank account isn’t just convenient — it’s part of building a legitimate, professional foundation for your UK venture.
What Expats Should Know Before Opening a UK Business Account
Before diving into your options, there are a few things to keep in mind as an expat entrepreneur:
1. Proof of Identity and Address
UK banks will require a passport, visa, and proof of UK address (like a utility bill or tenancy agreement). If you don’t yet have a permanent address, some digital banks accept alternative verification methods.
2. Business Registration Documents
You’ll need your Companies House registration number, business name, and Unique Taxpayer Reference (UTR) from HMRC.
3. Credit History
Traditional banks may run a credit check — but don’t worry, most digital banks don’t.
4. Personal vs. Business Use
Even if you’re a sole trader, you’ll still need a dedicated business account to manage payments and expenses professionally.
Top 10 Best UK Business Bank Accounts for Expats (2025)
Let’s explore the best options available today — both traditional and digital — to help you find the right fit.
1. Wise Business (Formerly TransferWise)
Why It’s Great for Expats
Wise is the go-to choice for global entrepreneurs who need international flexibility. It’s 100% online and perfect for expats managing clients or suppliers in multiple countries.
Key Features:
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Hold and manage money in over 40 currencies
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Get UK account details (sort code and account number)
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Low, transparent currency conversion fees
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Integrations with QuickBooks and Xero
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Virtual debit cards for easy online purchases
Fees:
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Free account setup
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Small fee per international transfer
Best For: Freelancers, consultants, and international businesses.
2. Revolut Business
Why Expats Love It
Revolut Business offers a sleek, fast, and flexible solution for modern entrepreneurs. It’s designed for digital-first users who value automation and instant payments.
Key Features:
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Open a UK business account remotely
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Multi-currency accounts with instant exchange
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Bulk payment options
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Built-in spending controls and analytics
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Compatible with accounting tools
Fees:
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Free basic plan
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Paid plans start at £25/month
Best For: Online businesses, startups, and remote teams.
3. Monzo Business
Why It’s Great
Monzo brings a friendly, user-focused experience that’s ideal for small business owners and freelancers.
Key Features:
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Instant notifications for every transaction
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Integrated invoicing and tax pot
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Business Mastercard
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Quick setup via the Monzo app
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FSCS protection up to £85,000
Fees:
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Free Lite plan
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Pro plan at £5/month
Best For: Sole traders and micro-businesses looking for simplicity.
4. Starling Bank Business
Why It Stands Out
Starling has become a favorite among UK entrepreneurs for its balance between digital convenience and regulatory credibility.
Key Features:
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100% app-based setup — no branch visits
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Free UK transfers
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Real-time transaction notifications
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Integrates with major accounting tools
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24/7 in-app support
Fees:
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Free business account
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Optional add-ons available
Best For: Expats seeking a reliable, FCA-regulated UK bank with full features.
5. Barclays Business Account
Why Traditional Still Works
For expats who prefer the reassurance of a high-street bank, Barclays offers a robust, well-established business banking service.
Key Features:
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Dedicated business managers
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Access to loans and overdrafts
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Online and in-branch banking options
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Free business account for the first 12 months
Fees:
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Free for 12 months, then £8/month
Best For: Established businesses seeking face-to-face banking and long-term stability.
6. HSBC Business Banking
Why Expats Choose It
As a truly global bank, HSBC understands expat needs better than most. With branches across 60+ countries, it’s a solid choice for internationally connected entrepreneurs.
Key Features:
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Global account linking
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Multi-currency management
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Expert advice for new expat businesses
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In-person and digital services
Fees:
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From £6.50/month after trial period
Best For: International entrepreneurs with cross-border operations.
7. Lloyds Bank Business Account
Why It’s Reliable
Lloyds is another trusted name offering expat-friendly business accounts with comprehensive services.
Key Features:
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12 months of free banking for new businesses
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Dedicated account managers
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Access to credit facilities and business loans
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Integrated online banking
Fees:
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Free for the first 12 months
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Then £7/month
Best For: Expats who prefer traditional banks with full support.
8. Tide Business Account
Why Expats Love It
Tide is one of the most popular fintech options for small business owners in the UK — fast, affordable, and incredibly user-friendly.
Key Features:
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Open an account in minutes
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Invoice generation and expense tracking built-in
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Virtual and physical cards available
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Connects easily with accounting tools
Fees:
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Free basic account
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Paid plans start at £9.99/month
Best For: Freelancers and growing small businesses.
9. NatWest Business Account
Why It’s Worth Considering
NatWest offers a mix of modern technology and traditional stability, making it great for expats who want both.
Key Features:
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Online and app-based banking
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Business mentoring support
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Access to funding through Business Builder
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UK-based customer service
Fees:
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Free for 18 months for new customers
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Then £8/month
Best For: Expats who plan to grow their business long-term in the UK.
10. ANNA Money
Why It’s Unique
ANNA Money (“Absolutely No Nonsense Admin”) is designed for entrepreneurs who hate paperwork. It’s quirky, efficient, and surprisingly powerful.
Key Features:
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Automated invoice and tax reminders
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24/7 human chat support
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Smart categorization of transactions
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Physical and virtual debit cards
Fees:
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Starts at £0, premium plans from £14.90/month
Best For: Busy expats who value automation and simplicity.
Comparing Your Options: Digital vs. Traditional Banks
| Type | Pros | Cons |
|---|---|---|
| Digital Banks | Easy setup, low fees, 24/7 access, ideal for remote expats | No physical branches, limited cash handling |
| Traditional Banks | Face-to-face service, access to loans, long-term credibility | More paperwork, slower approval, strict proof of address |
Tip: Many expats start with a digital bank like Wise or Revolut, then move to a traditional bank once they’ve settled in the UK.
What Documents Expats Need to Open a UK Business Bank Account
Here’s a checklist to make your application smooth:
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Valid Passport or National ID
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UK Visa or Residence Permit
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Proof of UK Address (utility bill, tenancy contract, or council letter)
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Company Registration Number (CRN)
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Proof of Business Activity (website, invoices, or contracts)
If you’re not yet living in the UK, choose a bank that supports non-resident applications — like Wise or Revolut.
How to Choose the Right Bank for Your Business
Ask yourself:
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Do I need multi-currency support?
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Will I manage most finances online?
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Do I need access to loans or overdrafts?
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What’s my monthly transaction volume?
Your answers will determine whether a digital bank or a traditional one fits best.
Common Mistakes Expats Make When Choosing a Business Account
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Ignoring international transfer fees
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Not checking for hidden monthly costs
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Using personal accounts for business transactions
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Forgetting to compare exchange rates
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Choosing banks without expat-friendly verification options
Avoid these pitfalls, and your banking experience in the UK will be smooth and rewarding.
Conclusion
Choosing the best UK business bank account for expats isn’t just about convenience — it’s about building a solid foundation for your business operations, finances, and future growth.
Whether you prefer the digital ease of Wise and Revolut or the stability of Barclays and HSBC, the UK banking system offers flexible solutions tailored for expats. The key is understanding your business needs, comparing your options, and choosing the bank that aligns with your goals.
Once you’ve opened your account, you’ll be one step closer to running your UK business smoothly, confidently, and professionally.
Frequently Asked Questions (FAQ)
1. Can an expat open a UK business bank account without living in the UK?
Yes, some banks like Wise and Revolut allow non-residents to open accounts remotely.
2. Do I need a UK address to open a business account?
Most traditional banks require it, but digital banks often accept alternative verification.
3. Which bank is best for international transfers?
Wise offers the lowest and most transparent international fees.
4. Is it safe to use digital-only banks?
Yes, if they’re FCA-regulated. Starling, Monzo, and Wise are fully licensed and secure.
5. What’s the easiest UK bank for expats to open an account with?
Revolut and Tide are among the easiest options, requiring minimal documentation.
