Does it cost money to open a business bank account?

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I have just turned from sole trader to limited company. To do that, I know it would make more sense to open a business bank account. But does it cost money to do that, or can I do it for free?

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Most business bank accounts are free to open, and many offer free banking for a fixed period of time. However, monthly fees usually apply after the initial free banking period has come to an end so this is something to pay close attention to when you’re choosing an account.

You may be able to switch your bank account on a regular basis to take advantage of new introductory offers from other banks, but this can be complicated if you do it on a regular basis.

The best thing to do it look at some comparison websites to see what offers are available. You should speak to your own bank to see if they can provide a good business account for you.

a year ago
 

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