This comparison simply includes all savings accounts.
Barclays Business Current Account
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Compare Barclays business current accounts
Barclays is one of the UK’s best known high street banks offering both personal and business banking. They have different kinds of business current account to suit different types of customers, so it is a good idea to check exactly what their various accounts have to offer to see which might be a good fit for your company’s banking needs.
Types of Barclays business bank accounts
Barclays offer current accounts for businesses with two main payment plan options – these are their Mixed Payments Plan and e-Payments Plan.
With both plans you will receive a guaranteed level of support and a monthly loyalty reward, which means the longer you keep your business banking with Barclays, the less you will pay in bank charges. It is free to take cash out at an ATM and make internal electronic transfers with both plans, but other fees vary from plan to plan.
Mixed Payments Plan
This plan requires you to pay a small fee per transaction for electronic payments (in and out) and a slightly higher fee per £100 for cash payments (in and out). You will also need to pay per transaction for cheques and assisted payments (in and out) and pay a monthly account fee.
This account is ideal for business customers who will be taking and making payments in a range of ways on a regular basis.
e-Payments Plan
With this plan, electronic payments in and out are free, but you will pay a higher rate per £100 for cash payments (in and out) and per transaction (in and out) for cheques and assisted payments compared to the Mixed Payments Plan. There is also a slightly higher monthly account fee.
This type of account is best for companies that take and make most of their payments electronically.
What to look for in a business bank account
Whether you choose to take out a business current account with Barclays, or decide to investigate what their competitors have to offer, there are certain key features it is worth looking out for:
- Interest rates paid on credit balances
- What overdraft facility is offered and any associated fees and interest rates
- Standing charges i.e. monthly or quarterly fees for having the account
- Transaction fees
- Introductory offers (such as 12 months free business banking)
- Online and phone banking (standard with most modern business accounts)
- Any extra financial tools offered (such as banking apps)
- How much support the bank provides with different types of business accounts
Find the best business current account for you
When sorting out your business banking, it is important to get the best deal possible. This can save you from paying more than you need to in fees and interest charges, and can help you earn money if you are likely to be in credit most of the time.
However, knowing which of the many banks and building societies on the market offers the best value for you can be difficult. This is why we offer a free business current account comparison tool, to help make your life easier.
All you have to do is head to the top of the page and you can see the key features of the best value accounts from all the leading lenders. This means you can easily compare and contrast the various accounts to see which is the best fit for your needs, allowing you to get a great deal on your business banking.
