ANNA Money small business account – 10 minute sign-up

ANNA Money is an app-based business account for small companies and sole traders. With ANNA you get a debit card and tools to grow your business, from expenses to VAT.

Sign up can take as little as 3 minutes, and you’ll get your account details instantly. Then you can accept payments immediately via a unique payment link, and connect your bank accounts to stay on top of your finances.

In this guide we look into ANNA’s features in more detail, including some pros and cons. (If you were wondering, ANNA stands for Absolutely No Nonsense Admin).

What are ANNA Money’s key features?

• Flexible pricing plans to suit your business, including a free Pay As You Go plan
• Create and send professional-looking invoices. ANNA even tracks when your invoices are paid
• Receipt scanning and automatic categorisation, to help you manage your business expenses
• Automatic tax reminders and estimations as you earn
• Real-time, read-only accountant access to your ANNA Money transactions and statements
• FreeAgent and Xero integration so you can easily import your transactions and keep your records up to date
• 24/7 award-winning customer service

Choose from 3 business account plans

ANNA offers three different pricing plans: Pay as you go, Business and Big Business. Plans start at £0 per month, and you only pay for the services you use. If you don’t use your account for one month, you won’t be charged a monthly fee for the next month.

• Pay as you go: Free. There is no monthly fee, but you pay a small fee for transfers and ATM withdrawals. You get a free debit card, and it’s £3 per additional card.
• Business: £14.90 + VAT per month. This includes additional features you won’t get on the Pay as you go plan, including 50 free bank transfers and 1% cashback on select categories. Up to 5 debit cards included.
• Big Business: £49.90 + VAT per month. This includes everything on the Business plan, plus additional features such as unlimited transfers and ATM withdrawals. Unlimited free debit cards.

Pros and Cons of Anna Money

Pros:

• Easy to set up and use: This is a digital-only account, so you can apply for an account in a few minutes (unlike a traditional bank). The app is intuitive and straightforward, so it’s easy to track your transactions and manage your finances
• Low fees: There’s no monthly fee for the free Pay as you go plan, and you only pay a small fee for transactions, ATM withdrawals, etc
• Award-winning customer support: You get 24/7 support on the app, and they score highly on TrustPilot (4.5 stars)
• Useful features: The app offers plenty of handy tools for small businesses, including creating and sending invoices, expense tracking and accounting software integrations

Cons:

• Not a bank: ANNA Money is an e-money account, not a bank account. This means that your money is not protected by the Financial Services Compensation Scheme (FSCS)
• Limited features: ANNA doesn’t offer everything that you might find with a traditional bank account. For example, you cannot pay in cheques or get an overdraft. These days, many businesses don’t even need these features
• Not available in all countries: ANNA is only available if your business is based in the UK. Again, not a real drawback for most small businesses

Overall, we think that ANNA Money is a very good option for small businesses that are looking for a low-cost, easy-to-use business account with some innovative features.

How do you sign up?

1. Click the link and enter your email address
2. Download the ANNA app to your mobile device
3. Answer a few basic questions about your business
4. Complete the application process (takes less than 10 minutes)