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Banking

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.

Choosing a business bank account

  • Do you need to open a separate bank account for your business?
  • How to choose a business bank account as a sole trader
  • Can you open a business account before you start trading?
  • How long does it take to open a self-employed bank account?

Managing and switching accounts

  • Can you have more than one business bank account?
  • How to switch business bank accounts as a sole trader

Business bank account reviews

  • Tide business account review
  • Zempler business account review
  • ANNA Money business account review
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What is the £120,000 FSCS and does it apply to business bank accounts?

December 1, 2025
We look at what the Financial Services Compensation Scheme (FSCS) is and how it protects sole trader and limited company bank deposits.
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Can you have multiple business bank accounts as a sole trader?

November 7, 2025
Can you use more than one business account as a sole trader? Learn when it makes sense, how to stay organised, and tips for managing multiple accounts.
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How to raise money to start and grow your own business

October 1, 2025
Starting on your own? Explore the main ways to raise money for a new business — from personal savings and bank loans to grants, crowdfunding and investors.
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Can I open a business bank account with bad credit as a sole trader?

August 6, 2025
How to open a business bank account as a sole trader even with bad credit. Compare Tide and Zempler, see how their no-credit-check process works.
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Can you open a business bank account before you start trading?

July 28, 2025
Find out if you can open a business bank account before you start trading, and what banks need to see before activating your account.
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Can you use a personal bank account for your business – and should you?

July 16, 2025
Sole traders can use a personal bank account, but should they? Here’s what HMRC says, the risks involved, and when to switch to a business account.
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Business loans for the self-employed: what banks really look for

February 16, 2025
If you are a small business owner and are thinking of asking your bank for a business loan, here are some of the key factors you must bear in mind.
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