Starting out or looking for a new bank? Either can be daunting but we have a dedicated team to help you open or switch your business bank account, leaving you free to concentrate on your business. We’ll give you 6 months free day-to-day Business banking.
If you would like to open a new business account we’re here to help. But this may take longer than usual due to high volumes of applications we are receiving.
Reasons to choose our Business Plus account
6 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
After the free banking period, you’ll have a simple tariff and great ongoing value
Take Chip & PIN and contactless payments on the go with a free Square Reader. Pay no fees on your first £1,000 of sales.
Below is our simple charging tariff, which you will move on to once your 6 months’ free banking has finished. Services that cost us more to process are going to cost you more to use; for instance, writing and accepting cheques.
If you maintain an average balance of £10,000 or more during a charging cycle, we won’t charge you the monthly fee.
Monthly fee (waived if average balance in the month is £10,000 or more)
Electronic payments (in or out) - including UK sterling Direct Debits*,
standing orders and faster payments
Internet Banking, Telephone Banking and Mobile app payments
Business debit card transactions, including cash withdrawals ††
Cheques† (per cheque paid in** or out)
Cash (per £100 paid in** or out, or exchanged)
Transfer between TSB accounts in your name
† Cheques include postal orders
* For SEPA Direct Debit please see the International Services Tariff Brochure.
** Cash and cheques paid in at a Post Office branch will take an additional day to reach us, and you will need your TSB pre-printed paying-in slip. The charges (for deposits) apply irrespective of whether your transaction is carried out at a TSB branch or a Post Office branch. Daily ATM cash withdrawal limits apply.
†† This includes the use of debit cards to withdraw cash over branch counters and where a bank giro credit is paid using either a debit card or a cheque drawn on your account and processed as cleared funds. The owner of any non-TSB cash machines may charge you for their services. All LINK machines will give you an on-screen warning of charges, in advance, allowing you to continue or cancel the transaction.
We are only accepting new Bounce Back Loan Scheme applications if you are:
An existing TSB Business (BCA) or Personal Current Account (PCA) customer, and
Your TSB account was open by 11 May 2020, and
You were using the account for your day-to-day business banking needs and you meet the scheme eligibility criteria explained on the Bounce Back Loan Scheme page.
Eligible PCA customers need to apply for a TSB BCA before applying for a Bounce Back Loan.
The scheme will close to applications on 30 November 2020.
Coronavirus Business Interruption Loan Scheme (CBILS) - to apply for a Coronavirus Business Interruption Loan Scheme (CBILS) Overdraft you must already have a TSB Business Current Account (opened before 23 March 2020) to be able to apply. CBILS will close to applications on 30 November 2020.
Sorry, we are only accepting Business Current Account applications from existing TSB Personal Current Account customers at this time. If you don’t already have an account with TSB we won’t be able to accept your application for a Business Current Account. This is to allow us to focus on supporting our existing customers through this unprecedented time.
If you submitted an application before 28 September we will be in touch.
We will update our website as soon as we are able to open accounts for new customers. Please check back here for updates.