When you’re starting or growing a creative business, your bank account might not be the first thing on your mind. You’re probably thinking about new clients, fresh projects or your next big idea. But here’s the thing: the right business bank account can make your financial life much smoother — and even save you money and time.
So, how do you choose the best one for your business? Let’s break it down without the boring financial jargon.
Some banks charge monthly fees, transaction charges, or limits on cash withdrawals. Look at the small print. For many creative businesses, you’re unlikely to be paying in much cash, so find an account that suits the way you actually get paid.
👉 A word of caution: Santander recently announced that their “free business banking for life” promise is over. Customers on that deal are being switched to their standard business account at £9.99 per month. If you’re affected, it’s a good time to shop around — you might get a better deal elsewhere.
If you’re using Xero (which I recommend for most creative businesses), make sure the account integrates seamlessly. That way, your transactions feed directly into your books, saving you hours of admin.
💡 Pro tip: If you’re not ready to invest in Xero just yet, some banks actually give you bookkeeping software for free. Open a business account with NatWest, RBS or Mettle and you’ll get full access to FreeAgent included. For freelancers and smaller creative businesses, that’s a huge bonus—you can raise invoices, track expenses, and even file your tax return directly from the software.
You’re probably not visiting a branch very often, so check how slick the bank’s app and website are. Can you quickly send payments to freelancers, track your balance, and set up alerts? That’s what matters day-to-day.
Some banks get you set up in hours, while others take weeks. If you need to get moving quickly, the challenger banks like Starling, Monzo, Mettle and Tide often approve accounts the same day. High street names such as Barclays, NatWest or HSBC can take much longer, sometimes requiring branch appointments. Allica Bank sits somewhere in the middle: their process is more thorough because they offer relationship-led banking, so expect a few days rather than a few hours.
Nothing is worse than being stuck on hold for hours when you just need to sort a payment. Check out reviews — especially from other small businesses — about how responsive the support team is.
Not every “business account” is technically a bank account. Some providers (like Tide or Revolut) are e-money institutions, which means your money is safeguarded but not covered by the £85,000 Financial Services Compensation Scheme (FSCS) guarantee. For everyday balances this might be fine, but if you’re holding large sums — like tax money or project reserves — it’s safer to stick with fully FSCS-backed banks such as Starling, Monzo, NatWest, RBS or Allica.
Some banks and newer “challenger” providers offer built-in invoicing tools, expense tracking, or savings pots for tax. These can be really handy if you’re just starting out and don’t yet have a full accounting system in place.
✅ Trusted names, sometimes with local branches
✅ Good if you still deal with cash or cheques
✅ Some (like NatWest and RBS) give you FreeAgent for free
❌ Often clunky apps, slower onboarding, and higher fees
❌ Santander customers should beware of recent fee changes
✅ User-friendly apps built for small businesses
✅ Often cheaper (some even free)
✅ Instant notifications and savings pots
✅ Very quick setup—sometimes same day
✅ Mettle also includes FreeAgent at no extra cost
❌ No branches—everything is online
❌ Some (like Tide and Revolut) are e-money providers, so no FSCS cover
✅ No monthly fees, up to 4.08% AER on savings, and 1% cashback on eligible card spend
✅ Seamless Xero and Sage integration
✅ Dedicated relationship managers (rare for challenger banks)
✅ Fully FSCS protected
❌ Onboarding takes longer (a few days), best for established businesses with steady cash reserves
Choosing a business bank account is a bit like picking the right tools for your creative work — you want something that fits the way you operate, saves you time, and doesn’t hold you back.
If you’re mostly working digitally, paid by invoice, and love a good app, one of the new challenger banks could be perfect. If you want the reassurance of a high street name (and maybe like the idea of getting FreeAgent software included), then NatWest, RBS or Mettle are definitely worth a look.
If you’re a Santander customer suddenly facing new fees, don’t just accept it. Use this as an opportunity to review your options. And if your creative business is scaling fast, with healthy cash reserves, Allica could be a modern alternative that pays you back while giving you proper human support.