Switch your business account from NatWest or RBS
to TSB

Get exclusive perks when you switch to the Business Plus account and make your business feel like the business. And to help you make the switch, our dedicated team will ensure the process runs smoothly, leaving you free to concentrate on running your business.

Our commitment to you and your business

To welcome you when you open a Business Plus account you’ll get:

  • 25 months free day-to-day business banking.*
  • 12 months free access to the Revenu app powered by BankiFi. Revenu makes it easy to request customer payments, helping you to get paid on time and stay on top of your cashflow. It also connects seamlessly with your accounting package^^ if you use one.
* Subject to staying within agreed limits and not going overdrawn without arranging this first.
^^ Accounting packages currently compatible include Sage™ Business Cloud Accounting, Xero™ and QuickBooks™ Online. TSB receives commission when you have finished your 12-month free access period to the app and you continue using the app on a subscription basis. App requires min. iOS 14 or Android 9.
 

I’m a sole trader or single director limited business.

 

I’m a multi-director business.

More reasons to switch to TSB Business

  • Get a free Square Reader to take secure contactless, mobile and chip + PIN payments easily. And pay no processing fees on your first £1,000 of sales^
  • Grow your business with 12 months free access to specialist business advice from Enterprise Nation
  • Find business finance to suit your needs with help from Funding Options
  • Easy ways to manage your account with our Mobile App, Internet Banking, telephone banking and our network of high street branches
  • When you're not near a TSB branch you can also deposit cash and cheques at 11,500 Post Office branches
  • After your free banking period ends you’ll move onto a simple tariff, with great on-going value
^ TSB receives a commission when you start using your Square account and you have finished your fee-free £1,000 of sales.
If you deposit cash at the Post Office you can do so either with your debit card + PIN or with a pre-printed paying in slip. If you use your debit card + PIN your cash deposit will be added to your account immediately once a confirmation receipt has been issued. If you use a pre-printed paying in slip this will take an additional day to reach us. If you deposit cheques at the Post Office you will need your TSB pre-printed paying-in slip. You will also need a TSB deposit envelope available from the Post Office, and the cheques will take an additional day to clear. Cash deposit limits and cut-off times apply. Post Office® is a registered trademark of Royal Mail.

Switching is quick and stress-free

The Current Account Switch Guarantee ensures your account will switch on a day of your choice and your payments will be automatically transferred and redirected to your new account.

Switch Guarantee: Your switch is backed by the Current Account Switch Guarantee

Switch your account anytime: Choose to switch to us when you apply, or at any time after. You can choose the date you want your account to switch

It’s quick and simple: We’ll have your switch done in just seven working days

Easy transfer: We will transfer all your existing payments for you – those going out, like Direct Debits and standing orders, those coming in like receipts from your customers and all payees you already have set up

Automatic redirects: Any payments made to or requested from your old account will be automatically redirected to your new account for at least three years. We will also contact the sender and give them your new account details

Hassle-free: In the unlikely event anything goes wrong with your switch, we will refund any interest and charges (incurred on your old or new current accounts) as soon as it’s brought to our attention

Questions about switching

The Current Account Switch Service makes moving your account across from your old bank straightforward. You can choose to switch to us at the same time as you apply for your TSB account or choose another switch date.

Switching only takes seven working days from start to finish and we’ll even close your old account for you. We’ll transfer all your existing payments for you – those going out, like Direct Debits and standing orders, those coming in like receipts from your customers and all payees you already have set up. Any payments made to or requested from your old account will be automatically redirected to your new account for at least three years. We’ll also contact the sender and give them your new account details. It’s all backed by the Current Account Switch Guarantee.

Business bank accounts that include an overdraft can switch using the Current Account Switch Service too. If you’d like to have an overdraft with your new bank account, speak to us before starting your switch. When you apply for your account we’ll be able to tell you if you’re eligible for an overdraft – this will depend on our lending criteria and your credit status. Overdrafts are repayable on demand.

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.

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 in the Your Account Charges Explained brochure.

From 10 December 2021 please refer to our new Business Banking Charges Guide brochure.

Other Benefits with TSB

  • Banking near you - 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. Find one near you
  • 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
If you deposit cash at the Post Office you can do so either with your debit card + PIN or with a pre-printed paying in slip. If you use your debit card + PIN your cash deposit will be added to your account immediately once a confirmation receipt has been issued. If you use a pre-printed paying in slip this will take an additional day to reach us. If you deposit cheques at the Post Office you will need your TSB pre-printed paying-in slip. You will also need a TSB deposit envelope available from the Post Office, and the cheques will take an additional day to clear. Cash deposit limits and cut-off times apply.

Below is our simple charging tariff, which you will move on to once your free banking period 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 the Your Account Charges Explained brochure.

From 10 December 2021 please refer to our new Business Banking Charges Guide 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)1

Free

Internet Banking, Telephone Banking and Mobile app payments

Free

Business debit card transactions

Free

Cheques deposit (per cheque)2

70p

Cheques paid out (per cheque)

70p

Cash paid in (per £100)3

70p

Cash paid out (per £100)

70p

Cash exchanged (per £100)

70p

Transfer between TSB accounts in your name

Free

 
1 Includes UK sterling Direct Debits, standing orders and faster payments. For SEPA Direct Debit and other International payments please see the International Services Tariff Brochure.
2 You will need your TSB pre-printed paying-in slip to pay in cheques at a Post Office branch. You will also need a TSB deposit envelope available from the Post Office, and the cheques will take an additional day to clear. The charges apply irrespective of whether your transaction is carried out at a TSB branch or a Post Office branch. Cut-off times apply.
3 Cash deposits at a Post Office branch using your debit card + PIN will be added to your account immediately once a confirmation receipt has been issued. Cash deposits at a Post Office branch using your TSB pre-printed paying-in slip will take an additional day to clear. The charges apply irrespective of whether your transaction is carried out at a TSB branch or a Post Office branch. Cash deposit limits and cut-off times apply.
Cash withdrawals from a Post Office branch will be charged as a Business debit card transaction. Daily cash withdrawal limits apply.

Get ready to apply

Am I eligible to apply?

  • You must be an existing NatWest or Royal Bank of Scotland business customer
  • You are a sole trader, partner or director
  • You are aged 18 or over
  • You require the account for business use
  • You require the account for use with Pounds sterling only
  • You have read the Terms and Conditions
  • If you are a sole trader or single director of the business, you must be resident in the UK
  • If your business is a limited company, limited liability partnership or partnership it must be based in the UK and at least one director, partner or member must be resident in the UK

What do I need to apply?

  • A form of identification
  • Proof of business address, if it’s not the same as your home address

You may also need

  • Proof of your home address
  • Your Tax Identification Number (TIN) for any countries of tax residency outside of the UK
  • Personal details about other parties in your business

The Revenu app

TSB has partnered with BankiFi to bring you Revenu, an app-based financial management tool. Developed to save time on financial administration, so you can focus on running your business.

Find out more and get the app.

Useful documents

Key documents and further information can be found on our legal page.

TSB Fraud Refund Guarantee

Our Business Plus account and Business Instant Access savings accounts are covered by the TSB Fraud Refund Guarantee, because we believe that no one should have to pay for an honest mistake. Put simply, it means that if you’re an innocent victim of fraud on your TSB account, we will refund the money you lost from your account. Full details of the TSB Fraud Refund Guarantee, including the terms and conditions that apply, can be found on our Fraud Refund Guarantee pages.

Valid from 14/04/2019. No refund if customers are involved in committing the fraud or ignore specific account safety advice. Guarantee limited to £1 million per claim for authorised transactions. Purchase disputes are not covered by the Guarantee. Other conditions apply.
 

I’m a sole trader or single director limited business.

 

I’m a multi-director business.

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