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Best Joint Business Bank Accounts December 2024

A joint business bank account can be a great way for multiple business partners to get involved with the management of your company’s finances. But which joint account is right for your business? Compare the best joint accounts below.

Many or all of the products and brands we promote and feature including our ‘Partner Spotlights’ are from our partners who compensate us. However, this does not influence our editorial opinion found in articles, reviews and our ‘Best’ tables. Our opinion is our own. Read more on our methodology here.

If you run your own business, it may be wise to consider opening a dedicated business bank account. And as with normal bank accounts, it is possible to open a joint business account.

This allows you and your business partners shared access to your business’s finances, as well as the various banking benefits that come alongside a business account.

By setting up a joint business account, it can help keep your personal and professional finances separate. This makes it quicker and easier to pay your taxes while building a credit profile for your business at the same time.

And if you already have business banking set up, you may be able to add additional users to your account.

There are a number of different joint business accounts out there, each with their own advantages. Our comparison table below will help you select the right one for your needs – that’s whether you want free bank transfers, no monthly fees, or even an overdraft.

Or read on to find out more about how to open a joint business bank account, when you need a joint business account, and what services it can provide.

Top 10 Best Joint Business Bank Accounts

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Provider

NerdWallet’s Rating

Monthly Fee

UK Card Purchase Fees

UK Bank Transfer Fees

4.7 / 5 Free Free From free
4.7 / 5 Free Free Free
4.5 / 5 £5 Free Free
4.2 / 5 Free for 12 months Free Free
4.2 / 5 Free for 12 months Free Free
4.1 / 5 Free Free From free
4.1 / 5 Free Free for 24 months Free for 24 months
4.1 / 5 Free Free for 24 months Free for 24 months
3.9 / 5 Free for 30 months Free for 30 months Free for 30 months
3.9 / 5 Free for 24 months* Free for 24 months Free for 24 months

Top 10 Best Joint Business Bank Account Providers

This top 10 is from 23 business bank accounts that NerdWallet evaluated and reviewed. Others are available. Find out how we use ‘best’ and our guide to ratings.

Virgin Money M Account for Business

4.7 NerdWallet's ratings

Free

Free

From free

3 months’ free QuickBooks or Xero

  • Available for eligible businesses with up to £1m annual turnover
  • Must be based and operated in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old
NerdWallet's Review Summary

Businesses based in Great Britain can choose from a number of accounts at Virgin Money, making it likely that there is something to fit their needs.

For example, Virgin’s M Account for Business start ups and small businesses with an annual turnover of less than £1 million can benefit from no monthly fees. Virgin Money’s accounts can be converted into joint accounts by appointing new nominated users and giving them various permissions. 

For further details, read NerdWallet’s Virgin Money Business Account Review.

Virgin Money key features:

  • Account perks: There are a number of account perks, such as cashback when using your business debit card and discounts with selected retailers and merchants. 
  • FSCS protection: Deposits of up to £85,000 are protected by the Financial Services Compensation Scheme.
  • Charities: The bank has dedicated current accounts for charities and does not charge fees for everyday banking if the charity has less than £1 million turnover a year.
NerdWallet's Pros & Cons

Pros:

  • The free M Account for Business can be jointly operated with nominated users.
  • There is no monthly fee for the M Account for Business and no charges for UK transfers.
  • Virgin Money has a current account for charities, which charges no fees for everyday banking for as long as turnover is less than £1 million per year.
  • Just over a third of new applicants have an account up and running on the same day they apply, though the average account opening wait is three days. 

Cons:

  • Although Virgin Money offers 24-hour self-service over the phone, it does not offer 24/7 customer support.
  • Some businesses cannot access Virgin Money’s completely free M Account, as it is only for those with an annual turnover of less than £1 million.
  • Virgin Money has no branches in the South of England, Wales or Northern Ireland.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Starling Bank Business Account

4.7 NerdWallet's ratings

Free

Free

Free

n/a

  • Must be a Limited Company or LLP registered at Companies House. General partnerships or charities that aren’t registered as a Limited Company aren’t supported yet
  • All directors with access to the account must be UK residents
NerdWallet's Review Summary

Limited companies looking for a joint account have a strong option in Starling’s free business bank account, which allows multiple directors to manage an account.

There is a lot to like about Starling, with free basic transactions and a mobile app that has received rave reviews from customers.

Starling key features:

  • Free transactions: There is no cost for many common transactions, such as direct debits and standing orders.
  • FSCS protection: Deposits of up to £85,000 are protected by the Financial Services Compensation Scheme. 
NerdWallet's Pros & Cons

Pros:

  • There is no monthly fee and Faster Payments, direct debits and standing orders can be made for free.
  • On average, Starling business accounts are open just one day after an application is made.
  • Starling’s business banking app is among the best reviewed in the banking market.
  • Starling offers 24/7 customer support through its app, over the phone and via email.

Cons:

  • To access all of Starling’s features, customers need to sign up for the Business Toolkit, which costs £7 a month.
  • There is no way to manage your account over the phone or at a branch.
  • Any cash deposits made at the Post Office come with a £3 minimum fee.

Monzo Business Pro Account

4.5 NerdWallet's ratings

£5

Free

Free

n/a

  • Available to sole traders, or the director of a registered limited company by shares (Ltd)
  • Must be based in the UK
NerdWallet's Review Summary

If you’re just starting out and want a simple account you can use on the move, Monzo Business makes it easy for customers to get a new account and start managing their money.

However, you will need to sign up for its Business Pro account for joint account functionality. For further details, read NerdWallet’s Monzo Business Account Review.

Monzo key features:

  • Quick set-up: Monzo’s speedy app-based application process means most applicants get an account on the same day.
  • FSCS protection: Deposits of up to £85,000 are protected by the Financial Services Compensation Scheme.
  • Free UK transfers: Monzo’s business banking customers benefit from free UK transfers (until 2025).
  • 24/7 customer support: Monzo’s in-app customer support is available at all hours for customers with pressing concerns.
NerdWallet's Pros & Cons

Pros:

  • Monzo’s mobile app is one of the best reviewed banking apps on the market and allows customers to convert a Business Pro account into a joint account with no need for paperwork.
  • Most Monzo applicants will gain access to online banking on the same day as they apply.
  • Monzo account holders have access to free UK transfers until 2025.

Cons:

  • Customers cannot manage their account over the phone or at a branch, as Monzo prioritises online interactions.
  • Business accounts are only for sole traders or limited company directors, so charities and partnerships are not eligible.
  • Though Monzo offers a free business account, it cannot be used as a joint account. Customers seeking multi-user access will need to pay £5 per month for Monzo Business Pro.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Barclays Business Account

4.2 NerdWallet's ratings

Free for 12 months

Free

Free

Free invoicing and accounting software

  • Must have an annual turnover between £400k- £6.5m
  • Must have a straightforward and clearly defined ownership structure
  • Must be at least 18 years old and be based and operate in the UK – including business owners
NerdWallet's Review Summary

British high-street bank Barclays offers accounts for start ups and established businesses. Barclays also offers accounts specifically designed for charities and community groups.

For more details, read NerdWallet’s Barclays Business Account review.

Barclays key features:

  • Account access: Barclays accounts can be accessed online, via the app, over the phone, or at a branch.
  • Credit facilities: Banking with Barclays can offer access to credit facilities, including loans, mortgages and overdrafts.
  • FSCS Protection: Eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons

Pros:

  • Barclays offers accounts built for start ups and more established businesses, as well as charities and community groups.
  • Signing up for a business account with Barclays gets customers free access to Freshbooks accounting software.
  • Simple electronic transactions, including direct debits and standing orders, are free for Barclays business account customers.
  • With a branch network that spans the whole of the UK, many business owners will be near to a Barclays Bank.

Cons:

  • With an £8.50 per month maintenance fee following the introductory period, Barclays accounts are a higher cost option compared to the competition.
  • On average it takes eight days to open a Barclays business account, with some customers even having to wait for up to 34 days.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

HSBC Small Business Banking Account

4.2 NerdWallet's ratings

Free for 12 months

Free

Free

n/a

  • For small enterprises (including not-for-profits) with borrowing needs of up to £100k
  • Must be a tax resident in the UK but not the Channel Islands or the Isle of Man
  • Not available for sole trader or single director shareholder businesses
NerdWallet's Review Summary

HSBC’s various account offerings include one specifically made for small businesses. These options are separate from HSBC Kinetic, which has its own dedicated app.

Basic banking transactions, including direct debits, standing orders and other payments, are free with HSBC accounts. However, there is a monthly fee following the 12-month introductory period. HSBC accounts can be used as joint accounts by appointing primary and secondary users.

HSBC key features:

  • Fee-free period: There is a 12-month period of free banking for new customers.
  • Transaction costs: An HSBC business account does not charge for everyday banking transactions.
  • Account access: Accounts can be managed in a branch in Great Britain, as well as the Belfast branch in Northern Ireland, or on the app, online or over the phone.
  • FSCS protection: Deposits of up to £85,000 are protected by the Financial Services Compensation Scheme.
NerdWallet's Pros & Cons

Pros:

  • An introductory offer gives customers 12 months of free banking for new customers, as well as free daily transactions.
  • Accounts can be managed online, via a mobile app, over the phone or at a branch.
  • Customers might be eligible to apply for HSBC’s business overdraft, credit card or loans.

Cons:

  • Following the introductory period, HSBC’s small business account has a monthly maintenance fee of £8.
  • There is no access to 24/7 customer service.
  • At 3.8 days, the average amount of time it takes to open an HSBC business account is longer than some of the competition. 

Allica Bank Business Rewards Account

4.1 NerdWallet's ratings

Free

Free

From free

Up to 1.5% cashback

  • For UK-based businesses only
  • Must have been trading for at least 12 months
  • Must have a minimum balance of £50k or be an existing Allica loan product customer
NerdWallet's Review Summary

Allica Bank has just one business banking product. This Business Rewards Account is designed for small and medium-sized enterprises (SMEs) and does not charge monthly fees. It also includes free bank payments. With options to earn interest on savings and further rewards, Allica could be an attractive choice for small businesses. It can also function as a joint account by designating extra parties as “super users”, who have full access to the account.

For more details, read NerdWallet’s Allica Bank Business Account review.

Allica Bank key features:

  • Savings: Customers can earn 4.08% AER on business savings using Allica’s instant access pot.
  • Cashback: Account holders can also earn 1% cashback on eligible monthly debit card aggregate purchases up to £10,000, and 1.5% on monthly aggregate purchases above £10,000.
  • FSCS protection: Eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons

Pros:

  • There are no monthly fees for an Allica Business Rewards account and outgoing bank payments, card payments and direct debits do not carry transaction fees.
  • Customers in England and Scotland have access to local relationship managers who can provide tailored expertise.
  • The instant access savings pot lets customers earn interest at 4.08% AER.
  • Eligible purchases with the Business Rewards Account debit card can earn customers cashback of 1% (and 1.5% once you spend £10,000 a month).

Cons:

  • There is no way to deposit cash or cheques into an Allica account.
  • There is no access to 24/7 customer support.
  • Customers can only manage the account online or via the app, not over the phone.
  • New applicants generally have to wait for between three and five days for their account to be opened.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

RBS Start Up Business Account

4.1 NerdWallet's ratings

Free

Free for 24 months

Free for 24 months

24 months free banking

  • Available to eligible customers over 18, who have the right to be self employed in the UK
  • This ‘Startup business account’ is available for businesses that have been trading for less than 1 year and have a projected or existing annual turnover of less than £1m
NerdWallet's Review Summary

With the three accounts that RBS offers, customers are only charged for what they use, with no minimum monthly fee. With a Start-Up Account that charges no transaction fees for 24 months, this could be a good option for new businesses. To use an RBS account as a joint bank account, customers can fill in a form or use the mobile app to add new signatories. 

For more details, see NerdWallet’s RBS business account review.

RBS key features:

  • Introductory period: With a new Start-Up Account, RBS customers can avoid transaction fees for 24 months.
  • Lending options: RBS offers a business overdraft, credit card or loan to eligible customers.
  • Extras: Accounts come with free access to FreeAgent accounting software and the chance to benefit from a dedicated relationship manager.
  • FSCS protection: Eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons

Pros:

  • There is no monthly fee for an account and opening a Start-Up Account means no transaction fees for 24 months.
  • Account opening can be quick, with RBS stating that 80% of customers have their business account up and running on the day they apply.
  • Accounts can be managed in a branch, over the phone, online and via the app, with 24/7 messaging.

Cons:

  • When applying, customers in England or Wales may be directed to open a NatWest account instead, while those in Northern Ireland are directed to open an account with Ulster Bank. 
  • The RBS Start-Up Account can only be opened by businesses that have been trading for less than a year, and have a turnover of less than £1 million.
  • Following promotional periods, all transactions from RBS business accounts carry a cost.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

NatWest Start Up Business Account

4.1 NerdWallet's ratings

Free

Free for 24 months

Free for 24 months

24 months free banking

  • Available to eligible customers over 18, who have the right to be self employed in the UK
  • This ‘Startup business account’ is available for businesses that have been trading for less than 1 year and have a projected or existing annual turnover of less than £1m
NerdWallet's Review Summary

NatWest offers accounts for start ups and more established businesses, as well as its community account for charities and societies. For businesses that trade internationally, there is even a foreign currency account. 

For more details, see NerdWallet’s NatWest business account review.

NatWest key features:

  • In-person banking: Customers can enjoy face-to-face support in England and Wales.
  • Fee-free period: NatWest accounts have no monthly maintenance charge and everyday transaction fees do not apply for the first two years.
  • FSCS protection: Eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons

Pros:

  • Customers can manage their accounts online, via a mobile app, in a branch or Post Office or over the phone.
  • NatWest’s digital assistant is available to help customers round the clock.
  • Customers who sign up to bank with NatWest get free access to FreeAgent accounting software.
  • NatWest can get you up and running quickly, with 79% of customers opening an account the same day.

Cons:

  • There is no branch access in Scotland or Northern Ireland, which are catered for by NatWest Group members RBS and Ulster Bank instead.
  • Only businesses that have been trading for less than a year and have a turnover of less than £1 million can apply for the Start-Up Account.
  • While there is a two-year introductory period, all transactions carry a cost after it ends.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

The Co-operative Bank Directplus Business Account

3.9 NerdWallet's ratings

Free for 30 months

Free for 30 months

Free for 30 months

Free everyday business banking for first 30 months + free access to the Go Get Paid app

  • Must be aged 18 or over
  • Must be a UK resident with a business address in the UK
  • Must be either a Sole trader or partnership, Limited liability partnership, Limited company
NerdWallet's Review Summary

The Co-operative Bank has a customer-led ethical policy, which might make it an appealing option for socially conscious business owners. In addition, the bank offers a great variety of bank accounts, including tailored options for small businesses, charities and larger companies. The bank’s Business DirectPlus account can be used as a joint account.

For more details, see NerdWallet’s Co-operative Bank review.

The Co-operative Bank key features:

  • Customer choice: Customers can choose from six business accounts, which even include an option for charities.
  • FSCS protection: Your eligible deposits, up to £85,000 across all of your accounts, are protected by the Financial Services Compensation Scheme (FSCS).
  • Lending facilities: Lending facilities include an arranged overdraft, a charge card for expenses, a credit card, and a variable rate business loan.
  • Account management: Customers can manage their account online, over the phone, via the app and at a branch.
NerdWallet's Pros & Cons

Pros:

  • Basic transactions such as direct debits, standing orders and Faster Payments are free. 
  • You have the choice of managing your account online, over the phone, via the mobile app and in a branch.
  • Customers have a variety of options for lending, including a business overdraft, credit card, charge card and loan.

Cons:

  • The average time it takes to open a business account is 12 days, which is far longer than a lot of the competition.
  • There is no 24/7 customer service available.
  • Any customers in Northern Ireland should consider that The Co-Operative Bank only has branches in England, Scotland and Wales.
  • The Business DirectPlus account costs £7 per month.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Ulster Bank Business Bank Account

3.9 NerdWallet's ratings

Free for 24 months*

Free for 24 months

Free for 24 months

24 months free banking

  • Available to eligible customers over 18 who have the right to be self employed in the UK or Northern Ireland
NerdWallet's Review Summary

Ulster Bank offers accounts for businesses of different sizes, including accounts for start ups and more established businesses. Eligible applicants can enjoy two years of free everyday transactions. 

For more details, read NerdWallet’s Ulster Bank business account review.

Ulster Bank key features:

  • Protected: Eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
  • Free Software: Account holders get free access to accounting software from FreeAgent.
  • Promotional period: Eligible customers can get two years of free basic transactions when they open a business account with Ulster Bank.
NerdWallet's Pros & Cons

Pros:

  • Accounts can be managed via app, phone, online or in a branch.
  • On average, new business accounts are open in just one day.
  • Ulster’s mobile banking app is among the best-received on the market.

Cons:

  • A quarterly charge of £8 applies.
  • All transactions carry a cost following the two-year introductory period.
  • Ulster accounts are best-suited to customers in Northern Ireland.

This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

This top 10 only contains business account providers reviewed by NerdWallet UK.

Top 10 Joint Business Bank Accounts: Summary

This top 10 is from 23 business bank accounts that NerdWallet evaluated and reviewed. Others are available. Find out how we use ‘best’ and our guide to ratings. 

ProviderStar rating
Virgin Money
Starling
Monzo
Barclays
HSBC
Allica Bank
RBS
NatWest
The Co-operative Bank
Ulster Bank

This top 10 only includes providers currently offering joint accounts to new customers.

What is a joint bank account and how does it work?

A joint business bank account is a business bank account that is opened and accessed by more than one person. Much like a personal joint account, a joint business bank account allows two or more people in business together to pay in cash, withdraw money and use all the other facilities offered by the business account.

The only difference between a joint business account and a regular business bank account is that more than one person can access the former. Other than that, they function in the same way. 

When searching for a joint business account, you should also look out for terms such as partnership bank account or joint venture checking account. However, many business bank accounts can function as joint accounts as they allow for the sharing of account permissions by different people. In our top 10, we have included normal business accounts that can function as joint business bank accounts in this way.

Do I need a business account for a partnership?

If your business is a limited liability partnership (LLP), you must set up a business bank account. This is because this is a legally separate entity, and must be managed as such.

On the other hand, if your business is a general partnership, meaning that you’re running a business with one or more other people, then you are not legally required to set up a business account. This is because, in a general partnership, all partners are personally responsible for business profits, losses or debts – the partnership is not created as a separate legal entity. 

» MORE: Do I need a business bank account?

When is a joint business bank account worth it?

If your business has multiple owners, then a joint business account will allow each partner equal access to the business account. It will also allow you greater flexibility and clarity when it comes to your financial management.

It could make your business appear more professional and will save you time when it comes to submitting your tax returns to HM Revenue & Customs (HMRC) by separating your personal and professional finances.

As your business grows, having a dedicated business account that multiple partners in the business can access will help you keep on top of expenses, invoices, transactions and cash flow all in one place. 

As well as this, it may improve your business’ credit score, making it more likely that you will be able to access business loans and finance if you need to.

» COMPARE: Business loans

Can I add someone to my business bank account?

It may be possible to add someone to your business bank account, making it a joint business account in the process. Banking providers may allow you to do this online.

When you add someone to your business bank account, you can give them varying levels of access. This could include allowing them to make payments, but not allowing them to apply for loans or make changes to the account itself.

How to open a joint business account

When opening a joint business account, each person you intend to have access to the account may need the following documents:

You will also need to provide information on your business, such as the number of employees, estimated annual turnover, and the full business address.

It is normally possible to open a joint business account online, especially with online challenger banks that have no high street presence, and some more traditional banks will also allow you to apply in a branch.

What services does a joint business bank account usually offer?

One of the biggest benefits of a joint business account is the number of services that come attached to the account. These can include, but are not limited to:

These services are in addition to the usual features of a bank account, such as cash deposits, ATM withdrawals, standing orders, direct debits and more.

What are the benefits of a joint business bank account?

A joint business account can come with many advantages. These include:

» MORE: Sources of business finance

What are the disadvantages of a joint business bank account?

Joint business bank accounts will usually give each account holder the same level of access and therefore your partner could withdraw cash or even run up debts without your consent.

If you are going into business with someone, it’s likely that you already trust them – but, of course, you need to be able to trust the person you open a joint business bank account with.

How much does it cost to open a joint business account and are there any ongoing fees or charges?

There tends to be no initial cost to opening a joint business account. However, depending on your provider, you may be subject to an ongoing monthly fee to keep your account active.

You may also incur other fees, such as on bank transfers or cash withdrawals, but again, this will depend on the terms of your provider agreement.

Some banks may offer fee-free accounts for an introductory period, such as the first 12 months.

» COMPARE: Free business bank accounts

How to choose the best joint business bank account for me?

To be eligible for a joint business bank account, all persons associated with the account may need to be UK residents and over 18 years old.

You will need to pass the provider’s anti-money laundering, know your customer (KYC) and credit checks, and provide evidence of your trading activities.

Providers may not offer business bank accounts to certain kinds of businesses.

In order to decide which joint business account to apply for, you will need to work out what exactly you are looking for from your account.

Do you want free bank transfers and no monthly fees? Is it important to have an overdraft? Will you be accessing your account via desktop and mobile banking?

What are the alternatives to a joint business bank account?

Of course, if you are a sole trader, you won’t necessarily need a joint business account. Instead, you can use a standard business bank account or your own personal account, depending on your business.

» COMPARE: Business bank accounts for sole traders

There are numerous other forms of business bank account you could also consider. 

If you are a start up, you may want to look into a business bank account designed around your needs.

» COMPARE: Business bank accounts for start ups

If you are concerned about how your credit history may affect your ability to open a business account, then you can find providers that won’t conduct a credit check.

» COMPARE: No credit check business accounts

You might also just want to see an overview of the best overall business bank accounts, as this can help you to work out what features are right for your business.

» COMPARE: Best Business Bank Accounts

Joint Business Bank Account FAQs

Do I need a business bank account for a partnership?

If you are in a general partnership – where two or more people are working together on a business venture – you do not need a business bank account. This is because each partner is personally responsible for the business, its profits or losses, and the partnership is not a separate legal entity. 

If your business is a limited liability partnership, however, you are legally required to manage your finances through a business bank account.

To compare joint business bank accounts, you can use our comparison table above to find a bank account that suits your needs.

Can a sole trader use a joint bank account?

Yes, a sole trader could use a joint bank account, but they would not need to unless they wanted to add someone as an authorised signatory on the account for business purposes. 

Does a joint business account need both signatures?

When opening your joint business account, you can set a mandate on the account to specify who runs it.

This means you can have an account where any spending, withdrawals or changes require both signatures, or one where anyone with access to the account can do so independently.

Can I access credit through my joint business bank account?

Opening a business bank account will help you start building a credit profile for your business, improving your chances of accessing credit down the road.

Some banking providers will also offer business bank accounts with overdrafts.

Can I freeze a joint business account?

If you are worried about the spending on your joint business account, then it might be possible to contact the bank and ask them to freeze your account.

However, this is only a short-term solution. At some point, you will need to discuss the situation with your business partner.

Are there credit checks to open a joint business account?

While many banking providers will conduct a credit check when you apply for a joint business account, it is possible to open a business bank account without a credit check.

Can I remove myself from a joint business bank account?

It is possible to remove yourself from a joint business account. Depending on your provider, this could be online, over the phone, or in person.

You will need to check if there is any debt outstanding on the account, as banking providers tend to be reluctant to remove names from a joint account if that is the case.

How do I close a joint business account?

It can be quite simple to close a joint business account. Many providers will have an account closure form.

Depending on the mandate on your account, closing the account may require the signature of each owner or authorised signatory on the account.

You will also need to make sure you have no debit balance outstanding on the account.

Business Bank Account Methodology

At NerdWallet UK, we base our reviews and our ‘Best’ pages on the results of surveys we undertook about what was important to people who use these products. This allows us to look at products impartially of any commercial arrangements we have and fairly rate the products on the same set of criteria.

Best means our ‘Best’ and is based only on what products we have aligned to our surveys, which form the basis of our reviews and ratings. This means that there will be other products on the market that we have not included in our ‘Best’ pages. Best does not mean it’s best for you, nor does it mean the ‘cheapest’.

Our reviews may display lenders’ rates. This additional information has not been included in our evaluations but is still very important when choosing a product. Rates offered can depend on circumstances, amount and term. Always check details before proceeding with any financial product.

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 there will be products not included on the market. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.

While we try to provide you with accurate information, the providers can change the terms of their products at any time, therefore it is advisable to check the terms before you proceed. Read more about our business bank account methodology. 

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