Choosing the right business bank account can save you hundreds of pounds a year in fees and hours of admin time. We compared the three digital business banks we work with — ANNA Money, Tide and Zempler Bank — across every metric that matters.
Quick comparison
| Zempler | Tide | ANNA | |
|---|---|---|---|
| Monthly fee | £0 | £0 | £0 |
| Free payments | 3/month | 20p each | Unlimited out |
| FSCS protected | Yes — £120k | Yes — £85k | No — safeguarded |
| Tax tools | MTD included | Add-on £9.99 | Built-in |
| Invoicing | Yes | 3 free/month | Yes |
| Cash deposits | Post Office | Post Office + PayPoint | PayPoint |
| Trustpilot | 4.5/5 | 4.4/5 | 4.6/5 |
Zempler Bank — Business Go
Zempler's free Business Go account stands out for two reasons: it's FSCS-protected up to £120,000 (higher than the standard £85,000), and it includes a Making Tax Digital tool at no extra cost. You get 3 free outgoing payments per month, with additional payments at 35p each.
The built-in accounting integrations (Xero, QuickBooks, Sage) and invoice generator make it a strong choice for businesses that want banking and basic accounting in one place. The Business Creditbuilder add-on is unique — it lets you build your business credit score at 0% interest over 12 months.
Best for: Businesses wanting FSCS protection and built-in accounting tools.
Tide — Free Plan
Tide is the most popular digital business bank in the UK, trusted by over 800,000 businesses. The free plan charges 20p per outgoing payment with no monthly fee. It's FSCS-protected up to £85,000 through ClearBank.
Tide's standout feature is company formation — you can register a new limited company and open your bank account simultaneously for £24.99. The business savings account offers 4.22% AER with instant access, which is competitive.
Best for: New businesses and anyone wanting a popular, well-established banking app.
ANNA Money — Pay As You Go
ANNA positions itself as "the business account that does your taxes". The Pay As You Go plan has no monthly fee, but charges 0.95% on incoming payments — which makes it expensive for businesses receiving regular bank transfers.
Where ANNA excels is tax automation. It calculates and files your VAT returns, Self Assessment and Corporation Tax directly from the app. If tax admin is your biggest headache, ANNA is worth considering despite the incoming payment fee.
Important note: ANNA is an e-money institution, not a bank. Your funds are safeguarded but not FSCS-protected.
Best for: Sole traders and freelancers who want automated tax filing.
Our verdict
There's no single best business bank account — it depends on what matters most to you:
- Want maximum deposit protection? Zempler (£120k FSCS)
- Starting a new company? Tide (company formation + account in one)
- Hate doing your taxes? ANNA (automated tax filing)
- Make lots of outgoing payments? ANNA (unlimited free) or Zempler (3 free, then 35p)
- Receive lots of incoming payments? Zempler or Tide (no incoming fees)
Compare all three and apply in minutes