Hit the ground running with 30 months free* day-to-day banking and specialist support to help bring your dream startup to life.
*Subject to keeping your account within agreed limits and not going overdrawn without arranging it first.
Our Business Plus account
The business bank account to get you off on the right foot. Learn more about the account.
Free day-to-day banking
Enjoy 30 months free day-to-day banking. Fees and charges still apply for other services.
24/7 access
With our Business Banking App and internet banking you can manage your account anytime, anywhere.
Free withdrawals
Withdraw money from any UK ATM and you pay no fees on transactions using your debit card. Limits apply.
| Business Plus account | Charges |
|---|---|
| Monthly fee | Free |
| Electronic payments (in or out) - including Direct Debits, standing orders and faster payments | Free |
| Internet Banking, Telephone Banking and mobile app payments | Free |
| Business debit card transactions | Free |
| Cheques in or out | Free |
| Cash in or out | Free |
| Trasnfer between TSB accounts in your name | Free |
Free services are for UK Sterling transactions.
If you use an Unarranged Overdraft, you’ll pay interest, and you may pay a daily fee depending on how much the overdraft is.
You’ll also pay the following fees that month:
- An account fee of £5 per month (if your average account balance is under £10,000 that month).
- Charges for paying cheques or cash in or out. Paying in UK Sterling with your debit card or bank transfer is still free.
We’ll write to you before your free day-to-day banking period ends to let you know. Full details of all other fees and charges that apply during and after the free day-to-day banking period (including the costs of an Unarranged Overdraft) can be found in your Business Banking Charges Guide.
After the free period has ended, there’s an account fee of just £5 a month if your account balance is under £10,000 each month. There are also small charges for paying cheques or cash in or out. Paying with your debit card or bank transfer is still free.
| Business Plus account |
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 |
For full details please see your Business Banking Charges Guide.
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 fee 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.
| Partnerships | Charges |
|---|---|
| Enterprise Nation Lifetime Membership | Free |
Square - Square card reader and £1,000 of fee-free processing |
Free |
| Square Invoicing | Free |
| Square Ecommerce Website Builder | Free |
| Revenu membership after 12 months | £6 |
| Charges | |
|---|---|
| Enterprise Nation Lifetime Membership | Free |
Square - Square card reader and £1,000 of fee-free processing |
Free |
| Square Invoicing | Free |
| Square Ecommerce Website Builder | Free |
| Revenu membership after 12 months | £6 |
Free for TSB customers
Easy access to trusted advice
- Get tailored support from trusted advisors
- Make use of practical content
- Gain top tips with bitesize e-learning
- Connect with local entrepreneurs on virtual meetups
Pick your own offer
Simple, secure payments
- Choose a free Square-reader, no fees on £5,000 of sales, or 30% off a Square Terminal
- Accept card payments from anywhere – in-store or on the go
- Build a shop window and take secure payments online
12 months free
Easy digital payments
- Get paid faster by sending your customers instant account to account payment requests.
- Depending on your business, connect with accountancy tools for automatic reconciliation.
- There’s no middle man — that means you recieve all of the money your customers send.
Steps to kick start your business
These simple steps will help you on your way to bringing your dream start-up to life.
It's easy as 1-2-3
Open a Business Plus account.
Receive your welcome email with next steps.
Sign up to the specialist support you need.
Ready to apply for a Business Plus 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. We will be in touch within 10 working days.
