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The best business banks for online and mobile banking services

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Choosing a provider with excellent online and mobile banking services is one of the key features to consider when picking a business bank account. We’ve compiled the top business banks based on their mobile and online offering. 

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Why are digital banking services important?

Digital technology has revolutionised how we manage our finances. Mobile and online banking is now the norm. Gone are the days of needing to go into a branch to make a payment or popping to an ATM to check your balance. Instead, we can see what money we have to spend and transfer funds at the touch of a button on our smartphones or via a laptop. 

For businesses, online and mobile banking offers many benefits:

  • Cheaper to set up an account (with the challenger banks)
  • Quick and easy to monitor your business finances on-the-go
  • Categorise spending into different budget pots 
  • Monitor employee spending 
  • Sync with accounting software and get a real-time picture of your financial position

It makes sense therefore to pick a business bank account that offers the best online and mobile banking experience. 

The best ‘challenger’ banks for mobile and online banking

In recent years, we’ve seen the emergence of a new kind of bank account. The likes of Monzo, Starling, Tide, Anna, and Revolut are notable in that they are entirely digital banking platforms. Unlike the high street banks, there are no in-branch services – instead you can quickly set up an account on your smartphone and operate it entirely using their mobile banking app.

Generally free to set up with costs once you’ve surpassed certain account thresholds (balance and individual transactions), these ‘challenger’ banks are increasingly popular particularly with sole-traders, freelancers, and micro-businesses. Equally, many businesses might choose to use a digital bank alongside their main bank account in order to spend abroad, make small transactions on-the-go, and to utilise their budgeting tools.

Here are some of the main digital bank account providers and their key mobile app and online features.

Bank

App and online account features

 Reviews

Tide Business
  • Quick and easy to set up an account using the app.
  • Use auto categories to tag income and expenditure with labels of your choice.
  • Integration with accounting software.
  • Create and pay invoices through the mobile app. 
  • Plus and Premium options with expanded features.

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4.7/5 on App Store (Apple)

3.6/5 on Google Play (Android)

ANNA Money
  • Less than 10 minutes to set up.
  • Invoice management functionality.
  • Expense management automation and accounting software integration.
  • Capture expenses on-the-go with receipt scanning functionality.
  • In-App tax calculatations and reminders.  
  • FS Tech Award Winner for Customer Experience.

4.7/5 on App Store (Apple)

4.6/5 on Google Play (Android)

Starling Bank
  • Extensive range of money management features. 

  • Get a breakdown of your company’s spending, organise your outgoings and store receipts.

  • Bookkeeping reminders so you don’t forget essential tasks. 

  • Integration with Quickbooks, Xero and FreeAgent.
  • Deposit cheques using your phone.

4.9/5 on App Store (Apple)

4.8/5 on Google Play (Android)

Monzo Business
  • Set up tax pots to set aside money every month.
  • Spending and budget categorisation.
  • Create, send and track invoices using the app. 
  • Add receipts to payments on the go. 

4.5/5 on App Store (Apple)

4.5/5 on Google Play (Android)

Revolut Business
  • Easily manage team expenses through the app. 
  • Integration with accounting software. 
  • Link multiple bank accounts to get an overview of your finances. 

4.7/5 on App Store (Apple)

4.7/5 on Google Play (Android)

The best high street banks for mobile and online banking

The emergence of the ‘challenger’ banks and advancements in digital technology have forced high street banks to up their game. As such, many of the familiar names in the banking world now offer extensive online and mobile banking services. 

Here are some of the key mobile features for the UK’s big four high street banks. Most of these features also apply to their online banking services. 

Bank Mobile app features Reviews
Lloyds Bank – Business Current Account
  • Login quickly with fingerprint and face ID.
  • Make payments, manage cash flow, and keep track of standing orders and direct debits.
  • Deposit cheques up to £1,000 using your camera.  

4.2/5 on App Store (Apple)

4/5 on Google Play (Android)
HSBC Start-Up Business Account
  • Make transfers between your accounts and make payments to both new and existing payees.
  • Virtual assistant providing answers to FAQs. 
  • Deposit cheques via the app. 

4.6/5 on App Store (Apple)

4.3/5 on Google Play (Android)
Barclays Start-Up Business Account
  • Transfer money and make payments to new and existing payees.
  • See your account balances, transactions and cancel Direct Debits.
  • Invoicing functionality.
  • Sort your paperwork and store securely in CloudIt.

4.8/5 on App Store (Apple)

4.6/5 on Google Play (Android)
Natwest Start-Up Business Account
  • View your business and personal accounts
  • Pay suppliers up to £250 – without a card reader
  • Set up and manage your regular payments

4.4/5 on App Store (Apple)

4.5/5 on Google Play (Android)
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