Why Trust NerdWallet
- 100+ financial products reviewed and rated by our team of experts.
- 75+ years of combined experience covering financial topics.
- Objective, independent and comprehensive star rating system assessing 1000s of data points.
- Every data point, statistic and claim is rigorously fact-checked by our writers and editors.
NerdWallet’s content, including articles, reviews and recommendations is governed by our strict guidelines for editorial integrity and produced by a team of specialist writers and editors. Their work has appeared on the BBC, FT Adviser, Daily Mail, The Guardian and many other national and regional publications as well as national TV and radio.
KEY TAKEAWAYS:
- There are multiple business bank accounts that require no credit check to open
- Bad credit does not stop your company from opening a good business bank account
- Some business bank accounts even have tools to help you improve your business’s credit rating
There’s no need to let bad credit stand in the way of finding your perfect business bank account. That’s because some providers offer business accounts with no credit checks and even have tools to boost your credit score.
That’s just as well, because even business bank accounts for poor credit scores have useful tools to help your business thrive. These include accounting software integration, international transactions and invoicing software.
If you have a bad business or personal credit score, you might still be wondering if it is worth the headache to find a business bank account. Fortunately, NerdWallet has listed the top bad credit company bank accounts, so having a poor credit history is no barrier.
Remember, whatever your credit score, you may need a business bank account either as a legal requirement or simply as good business practice. So don’t delay – find your perfect fit today.
Business accounts that don’t require a hard credit check, from top UK providers, including:
Top 5 Best No Credit Check Business Bank Accounts
Top 5 Best No Credit Check Business Account Providers
This top 5 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.
Tide Business Account – Free
Free
Free
20p
- For registered business accounts: Must be a director of a UK company registered with Companies House.
- For sole trader accounts: Must be a UK-based sole trader or freelancer with a valid UK home address and be registered with HMRC
- For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold a compatible device registered to a UK App or Google Play store
NerdWallet's Review Summary
Tide offers a Free Business Bank account with no monthly maintenance fees, though transfers to and from other bank accounts cost 20p each.
Cash deposits at the Post Office cost 0.99% (£2.50 minimum) or 3% at PayPoint, while cheques can be deposited for free via the Tide app.
Business banking customers cannot get an overdraft with Tide, though there are a range of other lending options available. These include business and startup loans, asset finance and merchant cash advances.
Eligibility: Applicants must be 18 years of age or older and have a UK-based business.
For more details, read NerdWallet’s Tide Business Account Review.
Tide key features:
- FSCS Protection: Eligible deposits of up to £85,000 in new Tide accounts are protected by the Financial Services Compensation Scheme (FSCS).
- Credit Score Insights tool: Tide’s credit insights tool can help you to track and improve your business’s credit rating.
- Point of Sale: Tide offers multiple ways for businesses to take payments, including contactless card payments via iPhone, card readers and payment links.
NerdWallet's Pros & Cons
Pros:
- No maintenance fees
- Well-rated mobile app
- Tools for invoicing, accounting and taking payments
Cons:
- Bank transfers cost 20p each
- No overdraft offered
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Zempler Bank Business Go Account
NerdWallet's Review Summary
Zempler’s Business Go account has no monthly maintenance fee. With this account, Zempler charges 35p for each basic outbound transaction after a monthly allowance of three free payments.
While there is no way to deposit cheques into a Zempler account, cash deposits cost 0.55% (£4 minimum) at the Post Office. Zempler also offers a business overdraft facility of up to £2,000.
Eligibility: Zempler’s business accounts are open to UK-based sole traders, limited companies, partnerships and charities.
For more details, check out NerdWallet’s Zempler Bank Business Account review.
Zempler Bank key features:
- FSCS Protection: Zempler account holder deposits of up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS).
- Business Creditbuilder tool: With the £9 per month Business Extra Account, you can use Zempler’s Business Creditbuilder feature to improve your credit score.
- Accounting and cash management: Zempler offers accounting software integration, as well as invoicing tools and pots to manage cashflow.
NerdWallet's Pros & Cons
Pros:
- No monthly fee
- Overdraft available for eligible customers
- Creditbuilder tool
Cons:
- Outbound transactions cost 35p each after three free per month
- No international payments
- No cheque deposits
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
ANNA Money – Pay As You Go
Review Summary
An ANNA Money Pay As You Go business account carries no monthly fee and includes unlimited free basic outbound transactions. However, you will be charged 0.95% commission on all payments into your account.
Cheque deposits are not possible, but businesses can pay cash in at PayPoint for a 1% fee.
ANNA Money offers several lending options, including ANNA Credit, a £10,000 pot of funds eligible account holders can draw down from for 3% monthly interest.
Eligibility: ANNA Money accounts are for UK residents who are sole traders or applying on behalf of limited companies or limited liability partnerships.
To learn more, read NerdWallet’s ANNA Business Account Review.
ANNA Money key features:
- Cashback: Account holders can earn up to 40% cashback on eligible products and services.
- Tax tools: The provider’s ANNA +Taxes tool helps business owners tackle accounting issues like taxes, VAT returns and invoicing. Opening an account gets you a 30-day trial, with the tool costing £24 plus VAT per month thereafter.
- ANNA Credit: Selected customers can access credit of up to £10,000, charged at 3% monthly interest on any funds drawn down.
NerdWallet's Pros & Cons
Pros:
- No monthly fee
- Up to 40% cashback on eligible purchases
- ANNA +Taxes free trial
- Unlimited free outbound transactions
Cons:
- No cheque deposits
- No FSCS protection
- Commission of 0.95% charged on inbound transactions
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Countingup Starter Business Account
- Must be a UK resident, at least 18 years old and running a small business (Sole Trader/Director of a limited company)
- If your maximum monthly deposit is exceeded, then your account will automatically upgrade to the appropriate subscription plan. You will not be able to downgrade from this plan.
Review Summary
A CountingUp business account has fees based on a business’s monthly deposits. If your monthly deposits are below £750 during a month, you will pay just £3 for that period. When deposits are between £750 and £7,500, the monthly cost is £9, and this extends to £18 if your business’s monthly deposits climb even higher.
In addition, basic transactions cost 30p each. Cheque deposits are not possible, but cash deposits cost 0.5% (£2 minimum) at the Post Office or 3% at PayPoint.
CountingUp does not directly offer overdraft facilities or loans, but limited companies can apply for business loans of up to £400,000 from iwoca through the CountingUp app.
Eligibility: Applicants must be UK residents of at least 18 years of age, applying as a sole trader or a director of a limited company (and be one of up to only two directors).
If you want to learn more, read our Countingup Business Account Review.
CountingUp key features:
- Tiered pricing: Following a three-month free trial, the amount your business pays for its CountingUp account depends on how much it deposited that month.
- Accounting software: CountingUp accounts have free built-in accounting software, which aims to streamline business owners’ admin.
- Business registration: CountingUp can register your new business with Companies House for free if you sign up to a three-month trial business account.
NerdWallet's Pros & Cons
Pros:
- Free accounting software
- Invoicing and money management tools
- Staggered pricing
Cons:
- No FSCS protection
- No cheque deposits
- All accounts have maintenance fees
- All transactions carry fees
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Card One Money Business Account
Review Summary
Card One Money offers two different business accounts and requires no credit checks during the application process. The basic business account is £12.50 per month, with standing orders and direct debits costing 30p each. However, the accrued monthly cost of transactions is deducted from the monthly fee.
Cash can be deposited via Barclays branches and cheques via a bank giro form for a 0.75% fee (minimum of 50p).
Card One Money does not offer overdrafts or other lending products.
Eligibility: For a Card One Money account, you will need to be 18 or over and a UK resident. If you are applying on behalf of a business, it must be registered in the UK.
If you want to find out more, read NerdWallet’s Card One Money Business Account Review.
Card One Money key features:
- Unique pricing: A Card One Money account costs a minimum of £12.50 per month. Transaction fees will be deducted from this amount, so if you rack up £10 worth of transaction charges in a month, your monthly maintenance fee will be just £2.50.
- Account managers: If your annual turnover is over £2 million you will qualify for a Corporate Account, and be given your own account manager.
NerdWallet's Pros & Cons
Pros:
- Get up to four extra cards with customisable access for your business
- Manage money with exported statements and accountancy software integration
- Account managers for corporate accounts
Cons:
- Cheapest account is £12.50 per month
- Application fee of £55
- All transactions cost money
- No FSCS protection
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
What is a no credit check business bank account?
A no credit check business bank account is exactly what it sounds like – a business bank account where no credit check is required during the application process.
Generally, they offer what you would expect from a normal business bank account, including:
- business debit cards
- online and app-based banking
- basic UK transactions
However, there are some differences. For example, these accounts are generally very quick and easy to open online, with new accounts often opened in just minutes following basic ID verification. In addition, they may offer specific tools designed to track or improve your business’s credit rating.
How do businesses get a bad credit history?
A credit score is a measure of credit worthiness, and a better credit score will give your business access to financial products with more favourable terms such as interest rates on overdrafts, business loans and mortgages.
Sole traders do not have a separate business credit score, as their business is not an independent legal entity. Instead, lenders and bank account providers will use your personal credit score when you apply for their products.
However, limited companies, limited partnerships and limited liability partnerships do have a distinct business credit score. Even so, it is worth noting that your business’s credit score will likely differ across different credit reporting agencies.
In short, a business can have a bad credit score because of:
- missed payments to creditors
- late filing of accounts with HMRC
- County Court Judgments (CCJs), bankruptcy or insolvency
- too many applications for credit
- high debt
You can find comprehensive information in our guide to business credit scores.
To build and improve your business’s credit score, you should:
- Pay on time: Make sure that bills and invoices addressed to your company are paid promptly, demonstrating that your business can reliably fulfill its financial obligations. This will also help your business to avoid fines, fees and reputational damage.
- File your accounts: Take the time to file comprehensive accounts with HMRC, rather than using micro-entity or abbreviated accounting methods.
- Update business information: Don’t be lazy when key information about your business changes. Keep HMRC, Companies House, suppliers, clients and customers up to date when you change your registered address or make other significant changes.
- Manage credit applications: Applications for credit (such as business loans) often trigger hard credit searches against your business. Many of these searches in a short period of time can negatively impact your score, so avoid sending out barrages of applications.
- Maintain good personal credit: While business and personal credit ratings are separate, having a good personal credit score can still help your business to gain improved terms from some lenders.
- Open a business bank account: This will help you to draw a line between your personal and business finances, allowing you to build up a history of financial information.
In addition, some business bank accounts for bad credit also include tools you can use to improve your business credit score.
Pros and Cons of a no credit check business account
Finding out what a business bank account is can open your eyes to many of the pros and cons of these types of accounts. However, below are some specific positives and negatives for no credit check business accounts.
Pros:
- Build credit: A business bank account can help you to build a credit profile for your business. Some accounts for businesses with bad credit also include tools designed to improve credit scores over time.
- Save stress: Avoiding the possibility of a failed credit check and rejected application will help to reduce the admin headaches you face as a business owner.
- Speedy setup: Without lengthy credit checks, you can open your business account very quickly. Each of the accounts covered in NerdWallet’s top 6 boasts same-day setup for most businesses.
Cons:
- Limited features: Your choice is more limited when applying for accounts with no credit checks, so you might find some features you would find useful are missing.
- More expensive: Though some bank accounts for businesses with poor credit have no maintenance fee, all of them include some charges for basic transactions.
- No branches: None of the providers offering bank accounts with no credit checks offer branch banking.
How to get a business bank account with poor credit
Having poor credit does not stop your business from getting the business bank account it needs. There are still plenty of options, as well as methods for improving the credit score over time to improve access to products like business credit cards and loans.
First, pick an account and provider using NerdWallet’s ranking of business bank accounts with no credit checks.
When you have found the right account, it’s time to open your business bank account. You will need:
- Proof of identity: A passport, UK driving licence or national identity card.
- Proof of address: A recent utility bill, bank statement, council tax letter.
- Business information: Including the business’s name, industry and details about other company directors.
No credit check business bank accounts FAQs
Yes, it is possible to open a business bank account with a county court judgment (CCJ). Business bank accounts with no credit checks don’t run a hard credit search when you apply for an account. That means that if you have poor credit or little credit history at all, you can still apply for an account.
Most providers in the UK will check your credit score when you apply for a business bank account. Check NerdWallet’s list of accounts with no credit checks to find some of the few accounts you can open without going through this process.
It depends on the type of business bank account you apply for. Hard credit checks, which impact your credit score, are usually reserved for applications for credit or service contracts. You are unlikely to be subjected to this type of check when applying for a business bank account, unless the account includes an overdraft or other lending product.
Soft credit checks, which review your credit report but do not impact the score, will normally be performed when you apply for a business bank account.
While a simple business bank account is unlikely to appear on your personal credit report, business lending products like business credit cards and overdrafts can impact your personal credit score.
Yes, it is possible to be a director with bad credit because a limited company is a separate legal entity from you, so your personal credit score may not directly affect the business.
Not all banks offer business bank accounts with no credit checks. Check out NerdWallet’s listed accounts above for providers who do not run credit checks on applicants.
There are several reasons you may need a business bank account. In the UK, if you have a limited company, you need to open a separate business bank account. Sole traders can use a personal business account, but this can make managing your company finances tricky.
A business bank account application may be denied for many reasons, including if:
- You don’t meet the provider’s eligibility requirements.
- The identification documents you provided are invalid.
- You have a fraud conviction.
- You’re suspected of money laundering.
- The business operates in a high-risk industry.
- The business is registered outside the UK.
- You have a poor credit history.
Image source: Getty Images
About the Author
Latest articles
What are the Benefits of a Business Bank Account?
UK Business Bank Accounts for Non-Residents
by Hannah Smith