Business Plus account

Enjoy 30 months free day-to-day banking* plus get even more from your bank account with partnerships, such as 12 months’ free specialist business advice from Enterprise Nation.

*Subject to keeping your account within agreed limits and not going overdrawn without arranging it first. After the free banking period, a £5 monthly fee applies. Other charges may apply.
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Why choose a Business Plus account?

Enjoy 30 months free day-to-day banking

There are no monthly fees or charges for paying UK sterling in or out. Fees and charges will still apply for other services.

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Prepare for lift off

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If you’re a small business, sole trader, or start-up looking to grow, then our partnerships can help you get you there.

Pick your perfect partners

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Every business is different, which is why our Marketplace lets you choose partners that are right for you.

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Our business bank account

Business Plus

No frills, straightforward money

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30 months free day-to-day banking
So long as you keep your account within agreed limits and don’t go overdrawn without arranging it first

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Add a Business Debit Card to your account for a quick and easy way to pay for goods and services.

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Switch your business account to us, and our dedicated team will take care of everything.

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Deposit cash and cheques at Post Office branches or our network of TSB branches.

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Receive account updates via text alerts. Find out how.

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Business account costs and charges

During first 30 months
After 30 months


 

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Unarranged Overdrafts charges and Unpaid item fees

Unarranged Overdrafts

If you ask us to make a payment when there’s not enough money in your account (or you don’t have enough Arranged Overdraft left) we may decide to make the payment by lending you money using an unarranged overdraft.  If we do this, interest and fees apply as set out in this table:

Amount borrowed using an unarranged overdraft Interest Daily fee
Up to £50 No interest No fee
£50 up to £200 Annual interest rate of 19.9% per annum on the full amount borrowed using an unarranged overdraft No fee
Over £200 Annual interest rate of 19.9% per annum on the full amount borrowed using an unarranged overdraft £1 a day

Maximum 10 fees in any monthly charging cycle

Unpaid item fee

If we return a cheque unpaid, or there’s not enough money in your account (or you don’t have enough Arranged Overdraft left) to pay a standing order or a UK Sterling Direct Debit, we’ll charge you an unpaid item fee as follows:

Value of item returned unpaid Fee
£20 and under No fee
Over £20 £3 for each item that’s returned unpaid

Maximum 3 fees a day

Good to know

We calculate interest and fees daily based on the amount you borrow at close of business on that day.  We’ll add the unarranged interest and fees, and unpaid item fees, to your account monthly in one lump sum. Remember you’ve got until 2.30pm (or up to midnight for standing orders) on the day a payment is due to pay enough money into your account to make sure the payment is made, and avoid paying interest and fees. See section 6 of the Business Banking Current Account Terms and Conditions for more information.

Further fees and charges for other services can be found in your Business Banking Charges Guide.

Open a Business Plus account

What you need to apply

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You must be 18 or over and a UK resident to apply

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Your business is registered in the UK


 
 

Personal documents:

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Proof of home address

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Proof of ID

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Partnership agreement and details about partners


 
 

Business details:

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Nature of Business

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Proof of Business name

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Proof of Business address


 

 

Ready to apply for a business bank account?

It’s quick and easy to apply online. We’ll start processing your application as soon as we have all the completed documentation. If we need anything else to get you set up, then we’ll let you know, due to current volume of applications this could take up to 10 working days.

 
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Business banking FAQs

If you're a sole trader or a business with a single director, applying for a Business Bank Account typically takes about 30 minutes. After you've applied, such straightforward businesses can usually expect their accounts to be ready in just 48 hours. However, if your business structure is more complex, the application might need extra details and take longer to fill out. Once submitted, these intricate accounts often require around 21 days to process.

If you're self-employed, you might wonder if a personal bank account will suffice for your business. Technically, as a sole trader or member of a partnership, you could use a personal bank account. However, at TSB — like many other top banks — we mandate that all businesses, regardless of their type, use a Business Current Account. Simply put, using a personal account for business is not allowed at TSB; you'd need a business account.

Absolutely, business bank accounts, whether current or savings, are covered by the FSCS up to £85,000. However, it varies based on your business structure and personal banking:

1. Limited Companies & LLPs: Since they're separate legal entities, you can claim up to £85,000 for the business AND another £85,000 for a personal account.
2. Sole Traders: They can only claim a total of £85,000, not separate amounts for personal and business accounts.
3. Joint Business Accounts: If you're partners in a business with a joint account, you're collectively entitled to just one claim of £85,000.
In short, yes, business accounts are protected, but the specifics depend on FSCS regulations.

To open a Business Bank Account online, you need to be at least 18 years old and live in the UK. Also, make sure your business is registered within the UK.

To set up a business account, you'll need a mix of personal and business documents. Here's a checklist for you:

Personal:
1. Proof of your home address
2. An ID for verification
3. If it's a partnership, your partnership agreement and details about each partner
For Your Business:
1. A note of your turnover
2. Description or nature of your business
3. Proof of your business name
4. Evidence of your business address

Gather these up, and you'll be all set!

Considering a TSB business bank account? Here are some great benefits to keep in mind:

  • Free Banking for 30 Months: Enjoy daily operations with zero extra costs for over 2 years!
  • Access Anytime, Anywhere: With our Business Banking App and online banking, you're always in control, 24/7.
  • No Fees on Withdrawals: Use any ATM or make debit card transactions without any fees. (Do remember, there are some limits.)
  • Instant Payments: Use the Revenu app for quick account-to-account payment requests to customers.
  • Payment Solutions: Grab a free Square-reader, enjoy zero fees on up to £5,000 of sales, or get 30% off a Square Terminal for easy in-store or mobile card payments.
  • Expert Support: Unlock 12 months of free access to Enterprise Nation for tailored advice from industry experts.

With these benefits, your business banking becomes easier and more efficient!

Regardless of your business type, TSB offers a consistent Business Current Account (BCA) with the same attractive introductory deals. This applies whether you're opening a new account or switching your existing one over to us.

Anything we missed? Find it here

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FCA - Service Quality Indicators

The Financial Conduct Authority requires us to publish the following information about our Business Current Accounts.
 

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Text alerts

Our free Text Alerts service delivers account updates direct to your mobile phone as text messages. Each text gives you your balance and up to your last six recent transactions.

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Business Internet Banking

Registering for Business Internet Banking is the quick and secure way to manage your business’ finances 24/7.