What is the £120,000 FSCS and does it apply to business bank accounts?
We look at what the Financial Services Compensation Scheme (FSCS) is and how it protects sole trader and limited company bank deposits.
If you’re self-employed, you can usually use a personal bank account for business transactions. However, many sole traders still choose to open a dedicated business account to keep their finances organised.
This section explains when a separate account makes sense, how to choose one, and what to consider before switching banks.