Starling Bank also offers business accounts for business owners, limited companies, contractors or freelancers. If your business turns over less than £1.7 million and has fewer than 10 employees, the service is free.
Furthermore, the Starling Bank business account has won Best Business Bank Account 2020, so they must be doing something right!
Meanwhile, the look and feel of the business account is exactly the same as your personal account. You get instant notifications when you spend or receive money and all your transactions are categorised.
Additionally, Starling business accounts also integrate with Xero accountancy software via the Starling Business Marketplace and other integrations are in progress. This makes things for your or your accountant a darn site quicker and easier.
However, one drawback might be if you have to deposit cash. This has to be done via a Post Office and will cost you £3.00 for up to £1,000 and anything above this costs 0.3%. While you may consider this a drawback, with the speed that most banks are closing branches, you might actually have a better chance of finding a local Post Office.
On a side note, if you are in the property business it’s worth noting that Starling business accounts do not support segregated ring-fenced ‘client accounts’.
Sign up for a business account here.