Best Business

Unity Trust Bank Business Banking

About Unity Trust Bank

Editorial Team

Unity Trust Bank, or just Unity, are an award-winning ethical bank that offers their services to like-minded businesses and organisations. They launched in 1984 with the mission of helping to create a better society and embracing the philosophy of being collaborative, inclusive and straightforward.

See our full Unity Trust Bank business bank account review of features, fees and how they compare against other online and high street bank accounts.

Unity Trust Bank pros & cons

Pros of Unity Trust Bank

  • Socially responsible projects funded with your finances
  • No transfer fees for businesses with low turnovers
  • Loans for a variety of purposes available
  • Deposits are FSCS-protected

Cons of Unity Trust Bank

  • No debit cards available
  • Few customer reviews

Unity Trust Bank business current accounts

Unity Trust Bank offer three current accounts for business based on turnover amounts.

Each of the accounts require a minimum £500 opening deposit and there are no debit cards issued.

The accounts available are:

  • T1 Current Account - eligible for businesses that generate under £100,000 yearly turnover. The monthly fee is charged at £6, requested quarterly.
  • T2 Current Account - you'll need to have a yearly turnover between £100,000 and £2 million. The account fee is charged quarterly at £6 per month, plus 15p for all bank transfers.
  • Custom Account - businesses that have an annual turnover of more than £2 million. The monthly fee, and when the account is charged, is negotiable.

These are the typical Unity Trust Bank business account fees:

Account nameT1 Current AccountT2 Current AccountCustom Current Account
Annual turnoverUnder £100k£100k to £2 millionAbove £2 million
Application feeFreeFreeFree
Monthly fee£6£6Negotiated
Bank transfersFree15pNegotiated
Card purchasesNo card issuedNo card issuedNo card issued
ATM withdrawalsNo card issuedNo card issuedNo card issued
Cash deposits (In-branch)50p per £10050p per £10050p per £100
Cash deposits (Post Office)60p per £10060p per £10060p per £100
Cheque deposits30p30p30p
Interest (AER)0%0%0%


To be eligible for a Unity Trust Bank business account you must:

  • Be a registered business or non-profit organisation
  • Be a UK resident
  • Be 18 or over
  • Have a UK-based business

You will also need to provide the following:

  • Identification for all directors/owners
  • Proof of addresses for all involved parties
  • Business name, address and registration information

Opening an account

Here's how to open a Unity Trust Bank business account:

  1. Register your interest with the form on their website
  2. Complete their online application, print it out & have all relevant persons sign it
  3. Send the application, along with a photocopy of ID, to Unity Trust Bank by post
  4. Once approved (usually same day), you can start banking

Unity Trust Bank business savings accounts

Unity Trust Bank offers five accounts for business savings, which can all be accessed anytime online. The accounts are:

  • Instant Access - withdraw your money whenever you want to, with no limit on how much. The interest rate for this account is 2.77% AER, variable
  • 30 Day Deposit - lock your money away for 30 days, with no access during this time. The minimum deposit requirement is £100,000 and the interest rate is 2.96%
  • 90 Day Deposit - funds are unavailable for a 90 day period. A £100,000 deposit is needed to open. Balances between £100,000 and £10 million get a rate of 3.06%, while balances over £10 million get 3.16% AER
  • 6 Month Deposit - requires a minimum deposit of £100,000 and can hold up to £5 million, offers 4.00% interest, fixed
  • 12 Month Deposit - requires a minimum deposit of £100,000 and can hold up to £5 million, this fixed term for a year account offers 4.85% interest
  • 24 Month Deposit - same balance limits as above but the savings period is two years, yielding a fixed interest rate of 5.10% AER.

Additional business services

Unity Trust Bank have a partnership with Lloyds Bank and MasterCard to offer businesses their Unity Corporate MultiPay Card to make up for their lack of debit card.

Since they don't provide a banking card, businesses can pay in or withdraw cash or cheques at NatWest, Royal Bank of Scotland and Ulster Bank branches, whichever is local for them.

They also help businesses accept card payments with their partnership with payment services provider Elavon.

Unity Trust Bank reviews

Unity Trust Bank have a great Trustpilot score of 4 stars based on over 250 reviews, where 61% of customers rated them 5 stars.

Information correct as of 28th January 2024.