You can only receive one Bounce Back Loan for your business. We’ll give you 6 months free day-to-day Business banking. £12.50 standard monthly fee. The owner of any non-TSB cash machines may charge you for their services. With a TSB business account you can access your money when it's convenient for you: We are only accepting new Bounce Back Loan Scheme applications if you are: Eligible PCA customers need to apply for a TSB BCA before applying for a Bounce Back Loan. We understand that some smaller businesses may have been using their TSB Personal Current Account for business trade. SC95237. We're open anytime and anywhere. When you apply for a BCA we will ask you for your 2018-2019 tax return or additional documents, so please have that ready. TSB Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. Your TSB account was open by 11 May 2020, and; You were using the account for your day-to-day business banking needs and you meet the scheme eligibility criteria explained on the Bounce Back Loan Scheme page. Our new platform continues to deliver real benefits for our business customers, including a new mobile banking app and a market-leading business savings account. This is to allow us to focus on supporting our existing customers through this unprecedented time. If you don’t already have an account with TSB we won’t be able to accept your application for a Business Current Account. ^Compared with the RBS Business Reserve Accounts, HSBC Business Money Manager Account, Barclays Business Premium account, Lloyds Business Banking Instant Access account and Santander Business Everday Saver Account. * Based on 981 surveys with TSB Business customers conducted by Motif, an independent market research agency, between May and July 2020. Read more about our lending commitments to you (PDF, 400KB). Discounted monthly fee of £5 for start-ups for 18 months and switchers for 12 months (£12.50 standard monthly fee). Calls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service. Banking at the Post Office - pay in cash and cheques at any Post Office counter. Our free text alerts service delivers regular account balances and transactions as text messages to your mobile phone. 2. Please check back here for updates. Starting out or looking for a new bank? Our Business Debit Card gives you a quick, easy and cost-effective way to settle your day-to-day business expenses. The branches Further fees and charges for other services can be found in your Account Charges Explained brochure. TSB Bank plc. Up to £300 cashback each year. If you have a hearing or speech impairment you can contact us using Text Relay or Textphone on 0345 835 3852 (lines are open 8am – 6pm Monday to Friday, 9am – 2pm Saturdays). I want a new bank account for my business venture but, as a sole trader, cannot see the benefit of a business account, with its heavy charges, over an ordinary current account. Sole Trader General Terms and Conditions Full business name: 1 General Terms and Conditions Terms which apply to your account(s) ... 1.2 Your account will be with the branch of Lloyds TSB Offshore Limited, a company incorporated in Jersey, at which you apply to open your account. TSB adheres to The Standards of Lending Practice for business customers which are monitored and enforced by the Lending Standards Board. Most high-street banks – as well as specialist business banks – offer them and they work in a similar way to a personal current account. So whether you are a sole trader or doing a side-hustle, it is often recommended to create a separate bank account to manage your finances. So if you have already applied for a Bounce Back Loan from us or another lender, or have already received a Bounce Back Loan, we are unable to accept your Bounce Back Loan application. As a freelancer, sole trader or gig worker, you and your business are one and the same in the eyes of the law – and the taxman! †† This includes the use of debit cards to withdraw cash over branch counters and where a bank giro credit is paid using either a debit card or a cheque drawn on your account and processed as cleared funds. Fill out the contact information form. Whatever your growth ambitions, we’re here to help you thrive. Two or more businesses under common ownership or control (including by the same individual or group of individuals) are considered to be a group. 2 We'll waive the £3 monthly maintaining the account fee in any month you pay in £1,500 or more.. 3 Earn monthly credit interest of 0.60% AER Annual Equivalent Rate AER means Annual Equivalent Rate. Ap… TSB also runs a daily text alert service … See our fees for services not covered by free banking. If you can’t make it to a branch, there’s also telephone and online banking to … You will need to have the following information to hand before starting the online application process: 1. Calls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service. If you need help with something specific, let us know what it relates to or search a topic. Payments take an additional business day to reach us. Electronic payments (in or out) - including UK sterling Direct Debits*, Internet Banking, Telephone Banking and Mobile app payments, Business debit card transactions, including cash withdrawals ††, Cash (per £100 paid in** or out, or exchanged), Transfer between TSB accounts in your name, 6 months’ free day-to-day banking – so long as you keep your account within agreed limits and don’t go overdrawn without arranging it first, After the free banking period, you’ll have a simple tariff and great ongoing value, Take Chip & PIN and contactless payments on the go with a free, Specialist support in helping you grow your business from, Manage your account through our Mobile App, Internet Bank, telephone or our network of over 500 TSB branches. Pay no fees on your first £1,000 of sales, Specialist support to help grow your business can be found from Enterprise Nation and Funding Options, Earn one of the best rates on the high street^ and access your money for whatever you need, whenever you need it, with our Business Instant Access savings account, If you’re switching then our dedicated team will make sure the switch goes smoothly, which is also backed by the Current Account Switch Service guarantee. Sorry, we are only accepting Business Current Account applications from existing TSB Personal Current Account customers at this time. Up-to-date financial information is important to any business. Santander. We’ve worked with participating providers of UK business banking accounts to agree a basic set of information that we’ll need to set up your business current account. If you’re a sole trader, ... How do I open an account with Permanent TSB? SC95237. Unlimited Santander ATM cash deposit. If you’d like this in another format such as large print, Braille or audio please ask in branch. Whether you’re a large multinational, or a sole trader just starting out, you’ll likely find that Ireland offers the infrastructure and support you need to flourish. Follow our step-by-step tutorial to get back online from the safety of your home. If you submitted an application before 28 September we will be in touch. Whether you're considering switching your business banking account to us or just starting out, we offer 6 months* free day-to-day business banking. Our most recent customer survey indicates that 83% of customers are satisfied or completely satisfied with our Business Banking services.*. If you did not have a TSB Business Current Account on 1 March 2020, we will need to see additional documents to show your business was trading before then. Manage your money 24/7 with our Mobile App or our internet Banking service. Overdraft interest is accrued daily and charged on the 15th of the following month. If you are applying for a TSB Business Current Account only. If so, you might be able to switch your account to us under the Business Banking Switch scheme. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 191240. Take care of your day-to-day banking when you need to. For now, Starling’s business account is only available if you are a sole trader who already has a Starling personal account; or an owner of a limited company and you are the only person with significant control over it. ... depending on the type of company you run and account you want. Read more about our lending commitments to you (PDF, 400KB). This is to allow us to focus on supporting our existing customers through this unprecedented time. TSB offers a range of banking products to its customers, which includes a business account. Its 25-month free period is generous, with no fees for cash, cheques, standing orders and direct debits. Services that cost us more to process are going to cost you more to use; for instance, writing and accepting cheques. With over 500 branches and access via Post Offices, TSB is a good choice for sole traders who prefer branch service. Registered in Scotland, no. You can also deposit cash and cheques at 11,500 Post Office branches, Our Business Debit Card allows you to withdraw money from an ATM and you pay no fees on transactions using your Debit Card. Your Business Banking Call Centre is available from 8am to 6pm Monday to Friday and 9am to 2pm Saturday (excluding UK public holidays). TSB is a high street bank in the UK that was formerly part of the Lloyds Banking Group and is now owned by Spanish financial group Sabadell. An existing TSB Business (BCA) or Personal Current Account (PCA) customer, and Your TSB account was open by 11 May 2020, and You were using the account for your day-to-day business banking needs and you meet the scheme eligibility criteria explained on the Bounce Back Loan Scheme page . Key features for start ups and switchers: 6 months free day to day banking - so long as you keep your account within agreed limits and don’t go overdrawn without arranging it first, After the free banking period, you'll have a simple tariff and great ongoing value, Use a Square reader to take chip & PIN and contactless payments. key documents and further information on our legal page. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 191240. Whether you’re a sole trader or a multi-national, a new business or a long-established society or school, you’ll enjoy dedicated support from our UK-based business specialists. Find out information about Business Current Account Services. How do I apply? Visit one of over 500 high street branches. Registered Office: Henry Duncan House, 120 George Street, Edinburgh, EH2 4LH. A number of providers have created bank accounts that have been designed for those who are sole traders. During the first 6 months you will not be charged for: All we ask is that you operate your account within agreed limits, for example not going overdrawn without prior agreement. Click 'Get another Starling account' from the account switch screen in-app and select 'Business account for sole traders'. I opened a Sole Trader account with Starling a few months ago - all good and the payment notifications are very useful. As part of a regulatory requirement, an independent survey was conducted to ask approximately 1200 customers of each of the 14 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). Follow our step-by-step tutorial to get back online from the safety of your home. TSB Bank plc. This enables us to support more local businesses right across the UK, and improving customer service in all areas of our banking offer remains a priority to us. In the same list of 14 business current account providers, TSB also ranked 14th for online and mobile banking services and relationship/account management, 12th for SME overdraft and loan services, and 7th for service in-branch. Sole trader bank accounts are simply business accounts. To apply for a Coronavirus Business Interruption Loan Scheme (CBILS) Overdraft you must already have a TSB Business Current Account (opened before 23 March 2020) to be able to apply. 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