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Compare bank accounts

Sprint ahead with our choice of business bank accounts

Notice

You may have heard we plan to begin a phased withdrawal from Ulster Bank’s Republic of Ireland business over the coming years. There will be no immediate changes for customers and we anticipate that our withdrawal will take a number of years to allow a smooth transition. 

There are no changes for Ulster Bank Northern Ireland customers.

What is a business bank account?

Business bank accounts are used for business transactions, but function in a similar way to your personal bank account. They can be opened in the name of a business rather than an individual, but allow you to pay money in or out as you would normally.

What are the benefits of a business bank account?

A business bank account makes it easier to manage your money and stay on top of your taxes, while also keeping your personal and business finances separate. Plus, it comes with helpful extras like accounting tools and secure online banking.

With a Ulster Bank business account, you'll get:

  • FreeAgent – Award-winning* accounting software that connects to your banking app to deliver real-time insights into your tax, cashflow, and invoicing. You can get FreeAgent for free as long as you retain your Ulster Bank business current account.
  • The ability to bank anywhere – online, on your mobile 24/7, or at our network of branches or local Post Office
  • Help when you need it by talking to us through secure messaging in-app or online
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Which business bank account is right for you?

Which business bank account you choose will depend on what kind of business you are. Do you run a small or large business? Are you in the charity/non-profit sector, or a start-up? Let’s see how a business banking account can help your organisation.

Build on your potential with our Start-up account

On your marks, get set, go! A Ulster Bank account with extra support for your start-up business, plus free banking on everyday transactions for 2 years

  • For businesses trading less than a year with turnover of less than £1m 
  • Free programmes that could help you grow and support that could help you run your business better (some services available to customers and non-customers)
  • Connect with experts who could take you further and help achieve your goals sooner
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Grow stronger with our Business bank account

Achieve your goals with free banking on everyday transactions for 2 years* when you switch to an Ulster Bank business bank account.

  • Our account for businesses with turnover above £1m. Or, for businesses with turnover below £1m who have been trading for over a year.
  • If your business has a turnover greater than £6.5m, you’ll need to apply over the phone
    • For existing customers, please contact your Relationship Manager to apply for your account
    • For new customers, you can start your application online and we’ll pair you with a new Relationship Manager to complete your application, or you can apply over the phone
  • Fees apply
*Switch offer is available for customers whose projected or existing turnover is below £2m, and who make a full switch to a Ulster Bank business bank account using the Current Account Switch Service (CASS). It's not available to customers switching a NatWest or Royal Bank of Scotland business current account to Ulster Bank. 
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Make a big impact with a Community bank account

Charity, club or other non-profit? Check out the Ulster Bank Community account

  • Existing Ulster Bank personal or business banking customers are eligible to apply for free banking if your community account's annual credit turnover is less than £100,000 and remains at this level
  • Everyday support from texts and email alerts
  • Authorise up to four individual signatories
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Foreign Currency Account

Only available to existing Ulster Bank customers who maintain a Business Bank Account.

Make and receive payments in foreign currency simply and safely

No minimum or maximum balance

Available in a range of currencies 

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Already started an Ulster Bank application?

Log in and check the status of your business bank account application in our online application centre.

Use the same details that you created when you applied for your business bank account. If you haven’t already set up access to your online application centre, you can create a login now.

Switch to Ulster Bank

Free business banking on everyday transactions for 2 years when you switch to a business bank with us

If you've got an annual turnover of up to £2m and switch your business bank account to us using the full Current Account Switch Service, we'll give you 2 years of free banking on everyday transactions.

Everything will be moved across from your old account to your new account for you, all within 7 working days, including Direct Debits and Standing Orders.

Switch offer is not available to customers switching a NatWest or Royal Bank of Scotland business current account to Ulster Bank. 

Current Account Switch Guarantee (PDF, 40 KB)

Your Guide to switching your account to us (PDF, 2.3 MB)

Tools to help you grow, all from one bank

The below tools and products are available to customers and non-customers.

freeagent

FreeAgent accounting software

Included with your business account, FreeAgent connects to your banking app to deliver real-time insights into your tax, cashflow, and invoicing.

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Mentor

Buddy up with Business Builder

With Business Builder you’re not on your own. Our specialist advice, smart tools, and upskilling opportunities are designed to help build your confidence.

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business builder

Grow with our Accelerator Programme

Discover wrap around support with one-to-one coaching and thought leadership, online or at our nationwide co-working hubs.

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More information

What you need to open a business account

Participating providers of UK business bank accounts have agreed to a basic set of information that they will need from you to set up your UK business current account. Find out what you’ll need to provide using the simple business banking account checklist from UK Finance, the UK’s leading trade association for financial services.

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See how our accounts compare

If you’d like to see how our business bank account products stack up against the others in the market, you can compare them online at the following websites (suggested by the UK Government's Competition and Markets Authority): 

Swoop Funding

 

Funding Xchange

 

Funding Options

 

Alternative Business Funding

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How fees work on our business bank accounts

Business bank accounts can often seem complicated when it comes to charges. We’re here to help you find ways to save and learn more about what you’re charged for. And although Ulster Bank start-up business account holders don’t pay transaction fees for the first 2 years anyway, it’s always worth understanding how you can reduce your charges after that period ends.

Some ways to manage your account

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Have a look at some of our service measures

If you want to see how we have performed on key service areas, you can get a detailed view here.

Ulster Bank performance indicators (PDF, 105 KB)

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Payments by Tyl

Use our simple solution, Tyl, to take payments in-store, online or over the phone (eligibility and fees apply.)

Explained: the application process

Additional support for your business

It pays to have a business plan

Every successful business starts with a plan. We have six key do’s and don’ts and tips on how to write yours.

 

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Five successful growth strategies

Our experts have put together five ways to help ensure your business is a success. We think it's essential reading.

 

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Scaling up your business

When you're looking to take your business to the next level, we're here to support you.

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Something else we can help you with?