Business Plus account

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 25 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

  • 25 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 
  • Free Square Reader, so you can take chip & PIN and contactless payments on the go. Pay no fees on your first £1,000 of sales
  • Specialist support from Enterprise Nation and Funding Options – helping you grow your business
  • Manage your account through our Mobile App, Internet Bank, telephone or our network of over 500 TSB branches. You can also deposit cash and cheques at 11,500 Post Office branches 
  • Our Business Debit Card allows you to withdraw money from an ATM and you pay no fees on transactions using your Debit Card

Account features

Free day-to-day banking can make all the difference to a business. It makes sure that every single penny you earn goes towards creating a successful business.

Benefits

  • Banking on your doorstep - we have a large branch network in the UK, so there should always be one nearby.
  • Banking at the Post Office - pay in cash and cheques at any Post Office counter. Payments take an additional business day to reach us.
  • Banking on your mobile – check your balance and make payments to existing payees with our Mobile App
  • Banking on your computer - our Internet Banking service is currently used by over half of our business customers.
  • Banking on your phone - speak to a business advisor who can deal with your account queries and requests.

During the first 25 months you will not be charged for:

  • paying in or taking out cash
  • paying in or issuing cheques
  • paying standing orders and direct debits
  • unlimited deposits and withdrawals
  • no minimum account balance required

All we ask is that you operate your account within agreed limits, for example not going overdrawn without prior agreement.

See our fees for services not covered by free banking

 

Below is our simple charging tariff, which you will move on to once your 25 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.

Further fees and charges for other services can be found in your Account Charges Explained brochure.

Business Plus bank account
Transaction type Charges
Monthly fee (waived if average balance in the month is £10,000 or more)  £5
Electronic payments (in or out) - including UK sterling Direct Debits*, 
standing orders and faster payments		 Free
Internet Banking, Telephone Banking and Mobile app payments  Free
Business debit card transactions, including cash withdrawals ††  Free
Cheques† (per cheque paid in** or out) 70p
Cash (per £100 paid in** or out, or exchanged) 70p
Transfer between TSB accounts in your name  Free
 
† 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. 

With a TSB business account you can access your money when it's convenient for you:

  • Manage your money 24/7 with our Mobile App or our internet Banking service
  • Visit one of over 500 high street branches. Find your nearest one
  • Visit one of the 11,500 Post Office branches to deposit cash of cheques. Find your nearest one.
  • Speak to a Business Advisor by calling 0345 835 3858 
  • Receive account updates via text alerts. Find out how

Check you're eligible

When you apply you need to confirm that:

  • You are a sole trader, partner or director
  • You are aged 18 or over
  • You require the account for business use
  • You have read the Terms and Conditions
  • Your business is registered in the UK

Government backed lending schemes

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.

To find out more, including conditions on these schemes visit our Coronavirus Support page.

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.

Useful documents

Switching

Please find  key documents and further information on our legal page.

Business debit card

Our Business Debit Card gives you a quick, easy and cost-effective way to settle your day-to-day business expenses. 

Key features:

  • No annual fee
  • Withdraw money from a cash machine
  • Save on cheque transaction charges
 
Find out more and apply
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