Business bank account cost calculator: what will you pay a year?

The calculator is above. Below is how each part of the total is worked out, where we had to make a judgement about a provider’s wording, and what the total does not include.

What it adds up

Four things that make up most of an ordinary business’s banking bill: the monthly account fee, charges for sending UK transfers, charges for paying in cash, and fixed fees on international payments. Each is taken from the provider’s own pricing page or tariff, multiplied up to a year, and shown for the entry-level plan most small businesses start on.

Accounts that do not accept cash are listed last when you enter cash deposits, with “n/a” instead of a total, because the cheapest account is no use if it cannot take your takings. Monzo Business is highlighted because it is the account we use and recommend, not because the sums favour it; the ranking is by the cost after free periods, on your numbers.

Monthly fees and free periods

Monzo Business Lite is free; Pro is £9 a month with the first month free; Team is from £25 a month. Starling, Mettle, HSBC’s small business account and Tide’s free plan have no monthly fee. Revolut Business has no free plan for companies: £10 (Basic).

The high-street banks mostly offer a free first year. Barclays is £0 for 12 months, then £8.50; Lloyds is £0 for 12 months, then £10; Santander is £9.99 (first 12 months free for start-ups and switchers). NatWest’s start-up account has no monthly charge and offers 2 years' free everyday banking (start-ups and full switchers). That is why the calculator shows year one and the cost after free periods side by side. Free periods are normally for new customers or full switchers only.

UK transfers

Most accounts now treat ordinary UK transfers as free. Monzo Business transfers are free on every plan. Two of the app-based accounts use a monthly allowance instead: Tide’s free plan includes 5 a month on Free, then 20p each, and Revolut Business Basic gives 10 free a month on Basic, then £0.20 each. NatWest’s start-up account charges Free for 2 years, then £0.35 per automated payment.

For a business paying a handful of suppliers a month this barely registers. For one paying dozens of freelancers or making frequent small payments, the per-transfer charges add up, and a paid plan with more included transfers can work out cheaper. If you pay many people at once, Monzo’s Team plan includes bulk payments; the plan picker shows when that plan makes sense.

Cash deposits

Cash is where accounts differ most. Monzo Business charges £1 per deposit at PayPoint or the Post Office, whatever the amount, with limits of £3,000 a month (sole traders) and £10,000 a month (limited companies). Starling charges Post Office, 0.7% (minimum £3); Mettle Post Office, £2.75 per deposit. The high-street banks charge by value: Barclays 60p per £100 at Post Office or machines; £1.20 per £100 at the counter, Lloyds £0.85 per £100 at a deposit machine; £1.60 per £100 over the counter, and HSBC £1.50 per credit plus 1.5% of value (branch or Post Office). Santander gives £1,000 a month free at Santander machines, then £1.25 per £100. Wise and Revolut do not take cash at all.

Two judgement calls. Tide’s pricing reads “Post Office £2.50 up to £500 (0.99% above on Free); PayPoint 3%”; the calculator uses the flat fee when your average deposit is £500 or less and shows “check provider” above that, because the wording does not make clear how the percentage applies. NatWest’s per-£100 and per-item cash charges are treated as covered by its free banking period and applied afterwards. Per-£100 charges are calculated pro rata rather than rounded up.

A flat fee per deposit suits occasional large deposits; a percentage suits frequent small ones. If cash is a big part of your business, our guide to Monzo Business cash deposits covers the limits in detail, and the comparison with the high-street banks explains when branch access is worth paying for.

International payments

The calculator only adds fixed per-payment fees, because exchange-rate margins depend on the currency, the amount and the day. From their published tariffs: Barclays £15 per international payment in the app or online; Lloyds £15 via Internet Banking; NatWest £15 per international payment online; HSBC £17 by Business Internet Banking; Santander £25 fixed fee plus 1% to 3% FX mark-up. Revolut Business charges £5 per international transfer on Basic.

Monzo Business changes its international fees on 1 November 2026. From then the fee is under £0.80 for most currencies, up to £11 in some cases, with a margin in the exchange rate (from 1 November 2026). Because it varies by currency, the calculator shows that wording rather than inventing a figure. Starling’s business pages do not publish an outbound fee, and Wise charges From 0.24% conversion, varies by currency. The Monzo Business international payments guide explains the new pricing, and if most of your money moves in other currencies, Wise or Revolut will often be the cheaper home for it.

Getting your numbers

The easiest source is your last three months of statements. Count the payments you sent to other UK accounts, including Direct Debits if your current provider charges for them, and divide by three. Do the same for cash deposits, noting both how many times you paid in and the total. If you are starting out, a rough guess is fine: the ranking rarely changes unless cash or international payments are a large part of your business.

Try a busier month too. Accounts with a monthly allowance of free transfers, or a percentage charge on cash, can jump in cost when trade picks up, and it is better to know that before you choose.

What it leaves out

• Card payment fees for Tap to Pay, card readers and payment links, which depend on your card provider and your customers’ cards.
• Exchange-rate margins on international payments and card spending abroad.
• Extra users and cards, such as Monzo Team members beyond the first 6.
• Savings interest, overdraft fees and lending, which vary by plan and by business.
• Countingup and ANNA, whose fees depend on how much money comes in each month. Their pricing is on the best business bank accounts comparison.

Cost is one line in the decision. FSCS protection, eligibility for your business type and the tools you would otherwise pay for matter as much. The full Monzo Business fee list and the guide to free business bank accounts go into the detail behind these totals.