Best Compare Contractor Bank Accounts
5 Best Business Bank Accounts for Contractors in 2024
Serving you award-winning options
We provide a free comparison service but may receive a commission from some advertisers featured on this site.
How it worksJust like launching a new business, contractors deserve banking solutions that understand their unique needs. Discover tailored accounts designed for contracting professionals and streamline your finances so you can focus on what truly matters.
Find the best business bank account for your contractor business from our curated list of top UK options.
Tide Business Bank Accounts
- Popular online business bank accounts for contractors
- Earn an exclusive 4.33% interest on deposits
- Four accounts available, ranging from free to £49.99 + VAT per month
- Transfers cost 20p but paid accounts offer free limits
- Card purchases are free while ATM withdrawals cost £1
- Offers built-in accounting, free for two months, or integrate with top software
- Access to free invoice templates, generated easily & quickly
- Simplify expenses with expense cards, £5 each or free with paid plans
- Accounts are protected by the FSCS through ClearBank
WebsiteRead our in-depth Tide reviewZempler Bank Business Accounts
- No credit check digital business bank accounts, made for contractors & similar
- Choice of two accounts, a free account (Go) & the other costs £9 per month (Extra)
- Costs £9.95 to get a card on the Go account, includes three free bank transfers per month (then 30p)
- While the Extra account offers a free business card, with 0.5% cashback, & 20 free transfers each month (then 30p)
- You'll be charged £2 for each ATM withdrawal, or £3 outside of the UK (both free on Business Extra)
- Improve your credit score with the Business Extra Creditbuilder
- Integrates with most of the popular accounting tools to
- Both accounts are FSCS protected & fully regulated
WebsiteRead our in-depth Zempler Bank reviewANNA Money Business Accounts
- Mobile business accounts with built-in invoicing software
- There are three plans available, ranging from £0 to £49.90, plus VAT
- You can add VAT & tax tools to your plan for up to £5 per month
- Get free monthly transaction allowances & totally free transfers to other ANNA accounts
- Earn 1% cashback on eligible card purchases
- Get paid anywhere online with payment link & webpage
- Offer free company formation to new businesses
- Not a bank so no FSCS protection, funds are safeguarded
WebsiteRead our in-depth ANNA Money reviewRevolut Business Accounts
- Revolutionary digital multi-currency business accounts
- Offer four accounts for sole traders & registered company contractors
- Where account fees range from £0 to £79 per month
- Free allowances apply, depending on the account you have
- These allowances are for: international payments, local transfers & FX fees
- Send, receive & exchange in more than 25 currencies
- Effortless online invoices with automated reminders
- Track all your spend & easily expense payments with Revolut's spend management
- Easily & conveniently get paid with the revolutionary mobile card reader
- Accounts are e-money & FCA regulated, but not covered by the FSCS
WebsiteRead our in-depth Revolut reviewStarling Bank Business Current Account
- Award-winning, well known business bank account with plenty of extras
- Pay nothing for transfers, withdrawals, card payments or holding an account
- Option to pay £7 per month for Business Toolkit
- For instant invoices, automated expenses & help recording and submitting taxes
- Easily switch your banking to Starling with the 7-day Switching Service
- Highly commended for Business Start-up Bank of the Year in the Business Moneyfacts Awards 2024
- Benefits from the FSCS, protecting eligible deposits up to £85,000
WebsiteRead our in-depth Starling Bank reviewWhat is the best business account for a contractor?
Here's what we think are the best bank accounts for contractors:
- Best contractor bank account overall: Tide Business Bank Accounts · From £0
- Best free contractor account: Starling Business Current Account · Free
- Best for invoice management: ANNA Money Business Accounts · From £0
- Best for bad credit: Zempler Business Bank Accounts · From £0
- Best for international payments: Revolut Business Accounts · From £0
What is a contractor bank account?
A contractor bank account is a business bank account with specific capabilities and features that directly help with contracting. Things like invoice generation, spend management, smart integrations, savings and more.
Frequently asked questions
It's not uncommon to have questions when looking in to business banking, especially for the first time. These are some of the most relevant questions for business bank accounts:
A contractor is an individual who works on a self-employed basis and is typically hired by clients or businesses to provide specific services or complete projects.
Contractors are not considered employees of the companies they work for but rather independent professionals who offer their expertise and services for a fee.
Yes, most business bank accounts provide features to receive payments directly, as well as managing and tracking payments with built-in or integrated invoicing software and payment gateways.