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Published 05 May 2023

ANNA Business Account Review

ANNA business current accounts are provided by Absolutely No Nonsense Admin Ltd. You can read on for a review.

Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.

ANNA business accounts offer sole traders and small business owners a way to manage their finances online. These accounts offer many helpful tools that automate much of the admin associated with the smooth day-to-day running of a business, such as tax return reminders and customised invoices. 

Its ‘pay as you go’ account offers a range of features useful to those just starting out, without costly monthly fees and commitments. There is also the option to upgrade to paid accounts with more functionality as and when your business requires.


ANNA Money – Pay As You Go

  • Monthly Fee
  • Card Purchase Fees
  • Bank Transfer Fees
  • Offer
    Free VAT and invoicing tools + No account fee for the first month
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This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Learn more about how we bring you our review.

Key features

  • Free and paid accounts
    ANNA offers the choice between a free ‘pay as you go’ account, and paid monthly accounts
  • 24/7 customer service
    ANNA offers 24/7 customer service through its mobile app
  • Sole traders, limited companies and LLPs
    ANNA business accounts are currently available to sole traders, directors of limited companies and limited liability partnerships
  • Tax reminders
    ANNA will send you tax reminders and estimations, so you can keep on top of your accounts

ANNA business account pros & cons


  • ANNA’s ‘Pay as you go’ business current account has no monthly fee.
  • You can open an ANNA business account in as little as three minutes.
  • ANNA offers 24/7 customer support through its mobile app.
  • ANNA’s mobile app is available on Android and iOS.


  • Since ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). 
  • ANNA Money does not accept cheques.
  • At £14.90 a month, ANNA’s cheapest paid account is more expensive than many competitors.

The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. They are unlikely to be the only product features and restrictions that you should consider. Pros and Cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.

ANNA business account full review

Founded in 2017, ANNA (or Absolutely No Nonsense Admin) offers three types of business current account, with online-only access.

Yet ANNA is not a bank, but an e-money service. This means that any money held with ANNA is not protected under the Financial Services Compensation Scheme (FSCS), unlike some other digital providers and high street banks. However, under Electronic Money Regulations, ANNA must keep customers’ money in a separate bank account to its own funds and cannot use it to fund or invest in projects. 

ANNA aims to appeal to sole traders and small limited companies, and offers a maximum account balance of £10 million.

The only difference between ANNA’s free and paid accounts is the cost per transaction. Features-wise, they are the same and include:

Pay as you go

ANNA’s ‘Pay as you go’ account comes with no monthly fee. Instead, you just pay for what you use, making it suitable for businesses that only need to make infrequent use of their business bank account. While card payments in any country are free, you will pay a transaction fee per local bank transfer, international payment, ATM withdrawal, and cash deposit.


ANNA’s ‘Business’ account costs £14.90 a month, or £149 if billed annually. Apart from the monthly cost, the main difference between ‘Business’ and ‘Pay as you go’ is that you get free allowances for certain transactions, such as local transfers, ATM withdrawals and international payments, per month. Once these have been exhausted, you will then pay a transaction fee. 

Big Business

‘Big Business’ costs £49.90 a month, or £499 annually. This account has unlimited ‘free’ local transfers, ATM withdrawal, cash deposits, personal payment links and additional debit cards. However, ANNA does note that some restrictions will still apply, and that it may be possible to create a bespoke plan for your organisation. This means it is suited to businesses with high volumes of everyday banking transactions.

ANNA business account features: at a glance

Pay as you goBusinessBig Business
Monthly feeFree£14.90 a month£49.90 a month
Transaction feesYes (local transfers, ATM withdrawals, paying cash in, international payments)Yes (but with free allowances per month)Yes (but with free allowances per month)
Account management Via a mobile appVia a mobile appVia a mobile app
FSCS protectionNoNoNo
Set-up timeSame daySame daySame day
Cash depositsYes (1% per transaction)Yes (up to £300, then 1% fee applies)Yes (unlimited, although some restrictions still apply)
Cheque depositsNoNoNo
Access to other banking servicesYesYesYes
International paymentsYesYesYes
Customer service24/7 in-app support
Email: [email protected] 
Telephone: book a call via its website
24/7 in-app support
Email: [email protected] 
Telephone: book a call via its website
24/7 in-app support
Email: [email protected] 
Telephone: book a call via its website
Multiple user access YesYesYes
Create and send invoicesYesYesYes
Integration with accounting software toolsYesYesYes

Where ANNA business account stands out

Where ANNA business account falls short

ANNA business account customer reviews

ANNA Money’s customers have left reviews on a range of sites. Generally, these reviews are positive.

This information is correct as of 3 May 2023. 

ANNA business account eligibility 

If you want to open an ANNA business account, you will need to:

How to apply for a ANNA business account

If you want to apply for an ANNA Money business account, you should follow these steps:

  1. Download the ANNA mobile app.
  2. Verify your identity using your driving licence or passport. If you don’t have these forms of ID, you can take a recent photo of yourself to your bank, solicitor or accountant so that they can verify your identity. 
  3. Verify your address using a utility bill, council tax bill, or bank statement from the last three months.
  4. Submit your Unique Taxpayer Reference (UTR) if you are a sole trader, or your company registration number if you are opening a bank account for a limited company, and answer ANNA’s Know Your Business (KYB) questions. You may need to provide business documentation, such as your website, utility bills or lease agreements, social media profiles, or supplier invoices and contracts.
  5. Once your details have been checked and registered by ANNA, you will be able to start using your business account. You will receive your debit card within five working days of acceptance.

Review methodology

At NerdWallet Ltd UK we base our reviews on the results of surveys we conduct to understand what key product features are important to those who use them, and align them to the product we review.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances.

You can view our review methodology here.

About the Author

Connor Campbell

Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The…

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