10 Best Business Bank Accounts for Ecommerce (2024)

10 Best Business Bank Accounts for Ecommerce in 2024

·Updated 13/09/2024·

If you run an ecommerce business you might be wondering what business bank account is best to use, or if you need one at all. Many accounts offer features that are better suited for selling online, whether locally or internationally, integrations into your online store, faster pay outs and more.

Find the best bank account for your ecommerce business by comparing fees and features from the UK's top digital banks.

Tide Business Bank Accounts

Digital business accounts dedicated to freelance sellers
Receive a £50 voucher when you sign up with code £50VOUCHER (T&Cs apply)
Manage invoices easily for free
Automated forecasting with free cashflow insights
Integrates with a range of popular accounting software
24/7 account management with their app
Rated 4.1 stars on Trustpilot
Cash can be paid in at PayPoint or the Post Office
Register & form your business for £14.99
Free & paid for accounts available

Website Read our in-depth Tide review

Revolut Business Accounts

Multi-currency business accounts great for online sellers & ecommerce
Get paid easily from anywhere with payment links, QR codes, gateway integrations & Revolut Pay
All with next-day settlements
Organise & track your payments all in one place
Exchange money in more than 30 different currencies
Manage the account 24/7 online on mobile or desktop
Rated excellent with 4.1 stars out of 5 on Trustpilot
Access discounts & rewards like ad credits (terms & conditions apply)
Free & paid plans available for freelancers or companies

Website Read our in-depth Revolut review

Airwallex Business Account

Online multi-currency account suitable for ecommerce & online sellers
Integrate with marketplaces like Amazon, eBay, TikTok Shop & more
Accept payments with payment links, starting from 1.30% + 20p
Local transfers are free while SWIFT payments cost £10-£20
Send money to 150 countries in over 46 currencies
All with access to market-leading FX rates & 10% cashback on international transfers (T&C apply)
Have a TrustScore of 3.5 stars on Trustpilot
Connect popular software, including accounting, for full visibility of your finances
No setup fees, monthly account fees or any hidden fees

Website

Zempler Bank Business Accounts

Bad credit business accounts available to all types of online businesses
Access special offers through marketplace with partners such as Square & Wix
Useful spending insights & payment notifications
Get up to 10 free bank transfers per month, then 30p each
24/7 online & mobile management
Integrates with accounting software like Xero or QuickBooks
Trustpilot score of 3.5 stars out of 5
Improve your credit score with their Business Creditbuilder
Offers a free & a £9 per month business account

Website Read our in-depth Zempler Bank review

Wise Business Account

Digital, multi-currency business account great for online sellers
Connect with ecommerce platforms like Stripe, Shopify, Amazon & more for easier withdrawals
50% of payments are received instantly or arrive within an hour
Send money for 6x cheaper fees than high-street banks & 19x cheaper fees than PayPal
Manage the account online on desktop or mobile
Hold or spend in more than 50 currencies & send money to over 80 countries
Integrate with accounting software such as Xero & QuickBooks to help save on admin
Rated 4.3 stars on Trustpilot
No monthly fees but charges a £45 application fee

Website Read our in-depth Wise review

SumUp Business Account

Basic business account specifically designed for online businesses & shop owners
Offers a free online store builder with helpful tutorials
Take payments with SumUp card readers, payments links, QR codes & more
Payouts are available next-day & you can change the frequency to daily, weekly or monthly
Stay on top of money in & out with instant payment alerts
Digital account available 24/7 through the web or app
Create, send & customise professional looking invoices with their built-in tool
Rated 4.2 stars on Trustpilot
A free business account with no monthly fees or transfer charges

Website Read our in-depth SumUp review

Starling Bank Business Current Account

Award-winning online account for self employed & registered ecommerce businesses
Integrates with SumUp or Zettle for online payments
Costs nothing to transfer pay-outs to the account
Get your money in one to three working days, depending on processor
With instant payment notifications
24/7 access available online or via their app
Syncs with leading accounting tools for more insights
Have an excellent 4.3 star rating on Trustpilot
Comes with no monthly maintenance fees

Website Read our in-depth Starling Bank review

Cynergy Bank Business Current Account

Digital business current account that pays interest
Earn 2.50% AER variable on balances up to £25,000
Applications can take as little as 15 minutes
Have access to & accept Faster Payments, CHAPS, SWIFT, SEPA & FX, where fees apply
Pay into your account at UK HSBC branches
Rated great on Trustpilot with 3.7 out of 5 stars
Eligible deposits are covered up to £85,000 by the FSCS
Comes with a monthly fee of £25, covering all standard electronic transactions (excluding cash, CHAPS, SWIFT & SEPA)
No monthly fees for the first year, available to new to Cynergy Bank customers for a limited time only, T&Cs apply

Website Read our in-depth Cynergy Bank review

Mettle Business Bank Account

Online-only business bank account designed by NatWest
Create, customise & send invoices on the go
With instant notifications when you get paid
Apply for an account within minutes
Put money aside into variable savings pots for an interest rate of 1.46% AER
24/7 account management with their app
Get FreeAgent accounting for free or integrate other popular software
Excellent Trustpilot rating of 4.6 out of 5
Free business account with no transaction fees

Website Read our in-depth Mettle review

Monzo Business Bank Accounts

Business accounts suitable for ecommerce, with online & app access only
Accept online payments with Stripe integrations
Or create, send & use payment links for free
Enjoy unlimited, free & instant UK bank transfers to or from your account
Integrates with accounting software like Xero (free for six months with Pro account)
App based business account with 24/7 access
Great Trustpilot rating of 4.2 stars, out of 5
Tax & variable savings pots with interest up to 1.60% AER available
Free account available with limited features or £5 per month paid account with rewards

Website Read our in-depth Monzo review

What is the best business bank account for ecommerce?

Here's what we think are the best ecommerce bank accounts for your online business:

Best ecommerce account overall: Tide Business Bank Accounts · From £0
Best free ecommerce account: Airwallex Business Account · Free
Best for online stores: SumUp Business Account · Free
Best for international: Revolut Business Accounts · From £0
Best for bad credit: Zempler Business Bank Accounts · From £0

What is an ecommerce bank account?

An ecommerce bank account is a business bank account that offers features to help make running an ecommerce company easier.

So if you sell by dropshipping, wholesale, reselling or any other form of online sales, then a specific ecommerce business bank account might make the most sense for you.

Do you need a bank account for an ecommerce business?

The answer to this depends on whether or not your ecommerce business is registered as a limited company or if your going at it as a sole trader.

Limited companies are legally required to have a business bank account for tax purposes, whereas freelancers and sole traders can use their regular bank account.

This doesn't mean that you shouldn't have a business account if you're not registered though. It can be advantageous to split up your personal and business finances to help avoid possible confusion later down the road.

What are the benefits of a bank account for ecommerce?

There are many benefits to having a bank account for your business, especially for having a business account that helps service your ecommerce needs.

These can include:

Faster & simpler transfers - the last thing you want is to be waiting days for your money to come in so the banks listed in this guide offer quicker transfer speeds, usually same day, with much less complications than most high street banks.
Lower fees - many of the best accounts to use for selling online are those that offer low, or no, fees for most of the services you'll use, such as transaction fees, offering or setting up direct debits and more. Some even offer their services with no monthly fees, helping you save that little bit more.
Intuitive integrations - you'll be able to connect popular accounting software to help with the day-to-day financial admin or even connect a range of merchant accounts or payment gateways so you won't need to find a separate solution for accepting online payments.
Multi-currency & overseas features - if you trade abroad then you'll ideally want your bank account to make that simpler. A lot of digital accounts offer multi-currency management, usually with lower transfer fees and better exchange rates.
Convenience - the fact that most ecommerce bank account solutions are online can help because they tend to be quicker and easier to open than traditional banks and offer app access for any time banking on the go, 24/7.

How much do ecommerce bank accounts cost?

Of the accounts that we've listed, the prices vary from £0 to £49.90.

Where free business accounts are great for sellers that are just starting out and small businesses that don't turnover a massive amount and looking to keep costs low.

While the featured paid accounts can help businesses that are looking for extra features with less restrictions.

What you'll need to open an ecommerce business account

The process to open a bank account for your ecommerce business is fairly straightforward.

You'll need to verify some personal details as well as some information about your business, which will vary if you're set up as a sole trader versus a limited company.

In general you should need:

Proof of identification - a passport or driver's licence
Proof of address - a recent bank statement or utility bill
Business information - the registered address, contact details, expected yearly turnover, credit history, and the Companies House registration details if applicable.

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:

Ecommerce, or electronic commerce, is the buying and selling of goods or services online through the internet.

There are four main types of ecommerce. Business to consumer (B2C), think Amazon. Business to business (B2B), think Shopify. Consumer to Business (C2B), think Fiver. And consumer to consumer (C2C), think eBay.

No they're different. Merchant accounts allow you to take online payments but require the money to be paid out to a bank account. Whereas an ecommerce bank account is an account specifically for your business and somewhere you can pay your money into from your merchant account.

Compare Ecommerce Business Bank Accounts