Business Banking Recommendations?

Just curious who folk here bank with for business banking? I am with TSB at the moment but I keep encountering bugs in their systems (e.g. being redirected to a dev server URL) and it is making me quite uneasy.

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Hi Pete, we bank with Co-operative Bank and have done for many years but it is a struggle, they tend to be a bit behind technically (currently our problem is that they have no bank feed compatible with FreeAgent) so we keep talking about changing but never do!

I would also suggest contacting your local Credit Union.

The LCCU in East London does Business Accounts, as well as personal accounts.

Your local one may do the same. :smiley:

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I’m tempted to merge this thread into this existing topic if that is OK with everybody:

We use Unity Trust, their web interface isn’t great (and it is run on a Windows server!), but it works… the key problem with Unity Trust is that they don’t issue debit cards.


I think the issue is that you either choose an ethical bank (such as Triodos) who don’t have all of the things you might need, or you choose a regular bank that have more of the things that you need from a service perspective. Basically: I don’t have a recommendation.

We used to use HSBC and they had the worst customer service I’ve ever encountered. They also blocked our access to our own bank account and we didn’t know if they’d closed it, where our money was, and when we were going to regain access. It was really stressful and put our business at risk.

Now we use Coop Bank whose UI is really bad. Sometimes I feel like I’m testing a half finished site because things are so difficult to find. It stopped supporting automatic feeds to Xero too, so we need to do it manually…but at least we can access our money.

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Alan - thanks, I was thinking about Co-Op too but then I am in the same boat RE: banking feeds too :frowning:

Bill - I hadn’t thought of that, good shout, thanks :slight_smile:

Chris - merge is fine with me. No debit card is a bit of a dealbreaker for me unfortunately.

Winning selection for me would be:

  • ethical
  • have bank feeds / Open Banking
  • provide debit cards
  • have online statements
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Totally agree with @Kayleigh

We used to use HSBC as Coop Bank were really unresponsive / unsupportive of a new business at the time when we needed to open an account asap as we had money coming in and nowhere to put it.

We always had good support from HSBC, but they never sat well with us so we switched to Unity Trust Bank a few years ago. The UI / UX is probably similar to Coop Bank (ie terrible), and they have also recently stopped automatic feeds into Xero due to the new regs. And we have to get Lloyds credit cards (no debt cards) for expenses etc - bloody Lloyds of all people!

We recently had to set up a Revolut for Business account to receive money from the World Bank (they couldn’t recognise UTB as a real bank so wouldn’t transfer funds). Our Finance Circle are going to consider offering Revolut cards instead of Lloyds credit cards, partly for ethical reasons (Revolut scores 10.5 on Ethical Consumer whereas Lloyds is 4.5) and partly because it will integrate much better with Xero and save us painful admin overhead.

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Kayleigh, they did stop Xero/Co-op bank imports for a while, but it is possible again now. I had to fill in some form and scan it and upload to Xero IIRC, but now it’s fully automated and imports things into Xero without me having to do anything.


Thanks, that’s really helpful to know (although why didn’t they tell us?!)


As in the thread @chris may be about to merge, we still use Tide. Its okay. Some good bits. Very reliable Xero feed and responsive customer service. Solid UX. Good enough for the day to day.

However, only allowing one person the ability to access the bank account (though allowing multiple debit cards) is somewhat of a limitation, and we are minded to move on. Other challenger banks like Revolut or Monzo for Business look quite attractive.

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Another shout for the good old Co-operative Bank - the only bank actually funding co-op development - well over £1m - and the only bank with a cooperative customer union! Just £12/year!

(Declaration of interest, I work for the Customer Union for Ethical Banking)


I was going to say that I’m looking forward to Nationwide launching their business accounts (imho they are the best for personal accounts, all things considered), but alas I’ve just read they’ve now scrapped those plans :frowning:

+1 for the Co-op Bank. We’ve had our business account there for about 14 years or more, and it has never cost us a penny. They’ve just redone their online facility, it works. And as @shaun says they are the only bank that I know of that supports co-operative development.

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Imagine if there was a cooperative bank who also had a best-in-class online banking experience! If only there were some cooperative technologists who could help :wink:


Thanks for the replies all. It is sound like it is going to be a toss-up between Co-op bank and Revolut for me.