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Important information about business banking

Find useful information about Business Banking with TSB.

Our Ways to Bank terms and conditions cover internet banking, telephone banking and mobile banking. The user guide gives information on how to access these services and explains the differences between them.

We’ve also made some further updates to clarify where you can view your statements (User Guide Section 2), how to make transfers (User Guide section 4.2) and multiple payments (User Guide section 2), and Online Payment Control (Terms & Conditions section 4.8)

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Terms and conditions

Documents that apply to all Business Matured Funds accounts:

Cards

We no longer offer TSB Business Credit Cards and we discontinued our cards for existing customers from 11 May 2021.

If you are a Sole Trader, Partnership of two or three partners or an unincorporated body, you might be regulated by the Consumer Credit Act. However, exemptions do apply. If you are unsure about whether your agreement is regulated, please speak to your Relationship Manager.

Your business debit card terms and conditions can be found in your Business Current Account terms which are available on this page.

Your business ATM card terms and conditions can be found in your Business Current Account terms which are available on this page.

Loans and Finance

  • For information relating to your overdraft please see your facility letter.

Payment services

  • Banks are cutting cheque clearing times from six days to just two.
  • All the banks will make this change, so if you write a cheque that’s paid into another bank that’s already moved to the new clearing times, your money could leave your account quicker.
  • All our branches have moved to the faster process for cheques you pay in.
  • Find out more at chequeandcredit.co.uk
  • Business Banking Charges Guide

Our Ways to Bank terms and conditions cover internet banking, telephone banking and mobile banking. The user guide gives information on how to access these services and explains the differences between them. 

We’ve also made some further updates to clarify where you can view your statements (User Guide Section 2), how to make transfers (User Guide section 4.2) and multiple payments (User Guide section 2), and Online Payment Control (Terms & Conditions section 4.8)

For your security we may ask you to approve online debit card payments in the TSB Business Mobile app or over the telephone:

  • Launch the app
  • Tap “Payments to approve”
  • Select the relevant payment and approve if using Face ID, Touch ID or your password
  • If the app is unavailable, we’ll send a One Time Password to your phone.
  • There is more information about Strong Customer Authentication here.

Managing debt

Other

When you open a TSB Business Current Account you are not charged for your day to day business banking transactions for a set period of time.

During the free banking period 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.

At the end of your free banking period you will move to our simple charging tariff. Full fees and charges can be found in your Business Banking Charges Guide.

Free Banking

When did you open your BCA?
 Free Banking Period
Current offer (live from 15 November 2022) 30 months free banking
Between 20 May 2021 and 14 November 2022 25 months free banking
Between 14 December 2020 and 19 May 2021 6 months free banking
Between 2 August 2019 and 13 December 2020 25 months free banking
Between 9 September 2013 and 20 April 2018 18 months free banking

Visit our other tariffs page for more information.

If you have a hearing or speech impairment you can contact us using Text Relay or Textphone on 0345 835 3852 (lines are open 8am – 6pm Monday to Friday, 9am – 2pm Saturdays).

Your Business Banking Call Centre is available from 8am to 6pm Monday to Friday and 9am to 2pm Saturday (excluding UK public holidays).

Calls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service. Not all telephone banking services are available 24/7.

TSB Bank plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh, EH2 4LH. Registered in Scotland, no. SC95237.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 191240.

TSB Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes' eligibility criteria not all TSB business customers will be covered by these schemes).

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