Business Bank Accounts

If you have a limited company then you are required to have a company bank account. This page will help you decide which account is for you and start the application process to get your new company account created.

At Younique Accountancy we like options. We don't want to  have a "one size fits all" approach for anything and that applies to your company bank account too, which is why we work with two of the UK's biggest banks to provide you with what we think are two of the best business bank accounts available.

We've highlighted some of the main points on each account and bank in the table below but if you'd like more information on these just let us know. Once you've decided simply select which account you'd like from the options below and we'll get the process started for you. By using Younique Accountancy to set up your account you will get a priority application and updates on it from us, making another task easier for you.

 *All details correct at time of writing and are regulary checked*

 

Barclays Barclays Cater Allen (part of Santander)
Account Name Business current account - Mixed payments plan Business current account - e-Payments plan Reserve account
Who is the account for? Businesses that mainly use cash, cheques or a range of ways to make and receive payments. Businesses that receive electronic payments and make payments mainly through Online Banking and debit cards Businesses that use mainly electronic transactions and will hold over £5000 in the account
Who is the account available to? Limited companies, sole traders, partnerships, Limited Companies Limited companies, sole traders, partnerships, Limited Companies Limited companies, sole traders, partnerships, as well as self-employed professionals providing services through a Limited Company structure such as contractors, consultants, interim managers, freelancers, locums and small trading companies.
What is the Sole Trader application process? All online All online All online
What is the Limited Company application process? Application started online then Barclays will be in touch within one working day to arrange a time at your local branch to complete the application. Application started online then Barclays will be in touch within one working day to arrange a time at your local branch to complete the application. All online
Monthly fee £6.00 £6.50 No monthly or annual account fee providing the minimum balance of £5,000 is maintained on the account. £15 per month otherwise.
Free initial period 12 months 12 months No
Online banking Yes Yes Yes
Cheque book and credit card Yes Yes Yes-deferred Debit Card
Transaction fees Electronic payments (in or out): £0.35 per transaction
Cash payments (in or out): £0.90 per £100
ATM cash out and electronic internal transfer: Free
Electronic payments (in or out): Free
Cash payments (in or out): £1.50 per £100
ATM cash out and electronic internal transfer: Free
30 day-to-day debit banking transactions can be made per calendar month without incurring a transaction fee, thereafter a charge of 75p per debit transaction applies.
Summary If your business will use a range of payment types including cash and you want an initially free account with a low monthly fee thereafter and no minimum balance requirements then this is for you. If your business will only use electronic payments and you want an initially free account with a low monthly fee thereafter and no minimum balance requirements then this is for you. If you think that you will have a healthy cash balance in your company and you wish to put this to good use and have free business banking and want the convenience of being able to set up your account completely online then this is the account for you.
Apply now To start the application process for your Business current account - Mixed payments plan click here To start the application process for your Business current account - e-Payments plan click here To start the application process for your Reserve account click here

Not sure on the differences or which one is for you?
Just get in touch and we'll be happy to help with which is best for you.
Call us on 0808 2626 888 or email us at hello@youniqueaccountancy.co.uk.