- We track 28 live UK business bank account offers and 10 that ended in 2026, each read against the provider’s own terms.
- The largest cash offers pay £200: Lloyds (apply online by 30 November 2026), Revolut Business (by 31 December 2026) and Tide’s TIS200, which needs £10,000 saved for 30 days.
- Only Lloyds’ own page lets you combine two offers: the £200 boost plus Xero’s free months and £200 gift card.
- The longest fee-free period is Metro Bank’s 31 months, but only for a full switch completed in store. At £8 a month that is worth £248.
- HMRC’s manual treats a cashback received in the course of trading as a trading receipt. Assume a cash bonus adds to taxable profit and check with your accountant.
This page is for sole traders and company directors who want to be paid, or at least not charged, for opening a business bank account. It lists every live offer we could confirm on a provider’s own page.
By the end you will know what each offer asks of you, what fee-free months and free software are worth in pounds, when a full switch is needed and which offers combine. At the time of checking, none of the provider links on this page earns TillRadar money. See how we make money.
The list is ordered by cash bonus, then by length of fee-free period.
Xero free for 6 months, plus a £200 Amazon gift card after the first paid Xero month (month 7). Provided by Xero.
- Open a qualifying Lloyds Business Account: a new customer (including switchers), or an existing customer opening an account for a new business.
- Buy your first Xero subscription as a new Xero customer through the link Lloyds emails you, by 23:59 on 31 March 2027. The 6 free months cover Simple, Ignite, Grow, Comprehensive and Ultimate.
- Connect the Lloyds account to Xero within 7 months of subscribing.
- For the £200 Amazon gift card, pay the first monthly Xero fee (month 7) on a plan other than Simple, then redeem within 30 days of Xero's email.
Remind me before it ends
Xero free for 6 months, plus a £200 gift card (choice of 10 retailers, such as Amazon or John Lewis) after the first paid Xero month (month 7). Provided by Xero.
- Activate the offer in Santander Online/Mobile Banking under 'Beyond Banking offers' > 'Accounting with Xero', using the account's registered business email.
- Be a new Xero customer and remain one for 7 consecutive months.
- Connect the Santander business bank feed within 7 months.
- Be on a paid Ignite, Grow, Comprehensive or Ultimate plan in month 7. Simple is excluded.
£200 cash 'boost' for new Lloyds business customers who apply online by 30 November 2026, spend £100 on the Visa debit card and set up 2 direct debits by 15 February 2027. Full CASS switchers also qualify.
- Submit an online application for a new Lloyds Business Account between 16 October and 30 November 2026. Saved or incomplete applications don't count.
- By 15 February 2027, spend at least £100 on eligible purchases with the Visa debit card. Cash, transfers, gambling, financial services, crypto and refunds are excluded.
- By 15 February 2027, set up two direct debits from the new account. Direct debits moved by a CASS switch count.
- Lloyds pays £200 into the Business Account by the end of March 2027, and the account must still be open.
Remind me before it ends
£200 welcome bonus for new UK Revolut Business customers who sign up via a partner promo landing page and add at least £0.01 by 31 December 2026.
- Open the Revolut Business account via the promotion landing page or partner link. Normal in-app sign-up does not qualify.
- Pass KYC/KYB checks and be onboarded.
- Top up the account with at least £0.01 by 31 December 2026.
- The cashback is credited within five business days after the end of the Promotion Period (per the influencer promotion terms).
Remind me before it ends
£200 reward for new Tide members who use code TIS200 and hold at least £10,000 in the Tide Instant Saver for 30 consecutive days.
- Sign up for a Tide Business Current Account with promo code TIS200. The code can also be applied in the app within 1 week of opening.
- Complete KYC and open the account between 1 May 2025 and 19 December 2026.
- Fund the Tide Instant Saver with at least £10,000 (one or more payments) within 30 days of account opening.
- Keep a balance of £10,000 or more for at least 30 consecutive days.
Remind me before it ends
£100 reward when you register a new limited company through Zempler, open Business Go and load £100 within 30 days. This effectively refunds the £100 Companies House fee.
- Register the new company on Companies House through Zempler's company formation service and pay the £100 incorporation fee.
- Apply for a Business Go account through formations.zemplerbank.com and have it approved and opened.
- Credit the account with at least £100 within 30 days of opening.
- Keep the account active until the reward is paid, which can take up to 30 days.
The £100 Companies House fee is reimbursed if you form your company through Countingup and spend £100 on the Countingup card within 30 days of opening.
- Register the company through Countingup and pay the £100 Companies House fee upfront.
- Open a Countingup account.
- Spend £100 on the Countingup card within 30 days of opening.
£50 cashback when you spend £100 on the Tide card within 30 days of opening, using a valid partner promo code from Tide's published list.
- Sign up for a Tide Business Account, pass KYC and open the account during the promotional period.
- Apply a valid partner promo code during sign-up, or within 7 days of sign-up. Codes are listed on tide.co/terms/tide-partnerships-50cashback-promo-codes/; the newest found is LAUNCH2027 (start 13/10/2026).
- Spend at least £100 with eligible merchants within 30 days of account opening.
- Keep the Tide membership active. Payout takes 6-8 weeks after the criteria are met.
£50 welcome gift when you apply from Zempler's deposit-offer page and deposit £250 within 30 days.
- Apply using an 'Apply' button on zemplerbank.com/landing/business/all/deposit-offer/ and have the account approved and opened.
- Credit the account with at least £250 within 30 days of opening.
- Keep the account active and compliant until the reward is paid, which can take up to 30 days after the deposit.
£50 for a new business that joins via an existing Monzo Business customer's referral link and makes a card payment within 30 days. The referrer also gets £50.
- Get a referral link from an existing Monzo Business customer whose account has been open for at least 7 days.
- Within 30 days of entering your mobile number: download the app, apply for a business account, add money and make a card payment (not ATM, transfer or virtual card).
- Monzo may offer a higher amount at its discretion; the app confirms the actual bonus.
31 months of free banking when you complete a full CASS switch to a Metro Bank Business Bank Account in store. Includes free cash transactions up to £10,000 and optional access to a 2.50% AER (variable) Business Instant Access rate.
- Open a Metro Bank Business Bank Account in store, bringing the required documents.
- Complete a full switch from an eligible bank using the Current Account Switch Service (CASS). Commercial, Community and Foreign Currency accounts are not eligible.
- Free banking starts when the full switch completes. Fees incurred before that are still charged.
- Optional: apply for the Business Instant Access enhanced rate within 30 days of the switch completing.
30 months of free day-to-day banking, then £5 a month (waived with an average balance of £10,000+). Only for existing TSB customers.
- Hold a TSB business account, a TSB personal mortgage or an active TSB personal current account.
- Keep the account within agreed limits and avoid unarranged overdrafts to keep the free period.
- After 30 months: £5/month, and cash and cheques cost 70p per £100 or per cheque.
Which business bank accounts pay a cash bonus right now?
Ten live offers pay cash or a cash-like reward. Four are worth less than they look: the two £100 formation offers refund the Companies House fee, and the Xero gift cards need a paid month first.
| Offer | Value | What you must do | Deadline | When it is paid | Who is excluded | Terms |
|---|---|---|---|---|---|---|
| Lloyds Business Account boost | £200 | Apply online; by 15 Feb 2027 spend £100 on the card, set up 2 direct debits | Apply 16 Oct–30 Nov 2026 | By end of March 2027 | Existing Lloyds or Bank of Scotland business customers; turnover over £3m | Lloyds |
| Lloyds + Xero gift card | £200 gift card | New to Xero; connect the feed; pay month 7, not on Simple | Subscribe by 31 Mar 2027 | About 10 days after month 7 | Past Xero users; charity and secondary accounts | Lloyds |
| Santander + Xero gift card | £200 gift card | New to Xero; connect the feed; pay month 7, not on Simple | None stated | About 10 days after month 7 | Previous Xero users | Xero |
| Revolut Business welcome bonus | £200 | Sign up via a partner page; add £0.01 | 31 Dec 2026 | Within 5 business days of the end | Past Revolut Business users; Northern Ireland | Revolut |
| Tide TIS200 | £200 | Code TIS200; hold £10,000 in Instant Saver for 30 days | KYC by 19 Dec 2026 | Up to 8 weeks after you qualify | Existing Tide members | Tide |
| Zempler company formation | £100 | Form the company via Zempler; pay in £100 | None stated | Up to 30 days | Past Zempler or Cashplus customers | Zempler |
| Countingup company formation | £100 | Form the company via Countingup; spend £100 | None stated | Not stated | Non-UK residents | Countingup |
| Tide partner codes | £50 | Partner promo code; spend £100 within 30 days | “Ongoing” | 6–8 weeks | Existing Tide members | Tide |
| Zempler deposit offer | £50 | Pay in £250 within 30 days | None stated | Up to 30 days | Past Zempler or Cashplus customers | Zempler |
| Monzo Business referral | £50 | Customer’s referral link; card payment within 30 days | None stated | Not stated | Existing Monzo Business users | Monzo |
Of these, the Lloyds boost has the lightest conditions for an ordinary trading business. Most businesses spend £100 on a card and pay two direct debits within four months anyway.
£200 cash 'boost' for new Lloyds business customers who apply online by 30 November 2026, spend £100 on the Visa debit card and set up 2 direct debits by 15 February 2027. Full CASS switchers also qualify.
- Submit an online application for a new Lloyds Business Account between 16 October and 30 November 2026. Saved or incomplete applications don't count.
- By 15 February 2027, spend at least £100 on eligible purchases with the Visa debit card. Cash, transfers, gambling, financial services, crypto and refunds are excluded.
- By 15 February 2027, set up two direct debits from the new account. Direct debits moved by a CASS switch count.
- Lloyds pays £200 into the Business Account by the end of March 2027, and the account must still be open.
Remind me before it ends
Cash bonus, fee-free months or free software: which is worth more?
Offers come in three forms. A fair comparison turns each into pounds over the same period; we use 24 months.
Cash bonuses: subtract what you pay to get them
A cash bonus is worth its face value minus any cost you would not otherwise have. Revolut Business has no free plan: Basic is £10 a month. The bonus is credited within five business days after the promotion ends on 31 December 2026, so if you open in late October you pay for roughly three months before it arrives.
- Revolut welcome bonus
- £200
- Basic plan, about 3 months to payout × £10
- −£30
Net if you then leave Revolut£170
Tide’s TIS200 terms don’t require a paid plan, but the offer ties up £10,000 for at least 30 days. That suits a business with spare cash. It is no help to a start-up.
Fee-free months: multiply by the fee you would otherwise pay
A fee-free period is worth the monthly fee you skip, plus any transaction charges it waives. The table counts the monthly fee only.
| Offer | Free months | Fee afterwards | Value of free period | Monthly fees in first 24 months |
|---|---|---|---|---|
| Metro Bank, full switch in store | 31 | £8 (waived if balance stays £6,000+) | £248 | £0 |
| Co-op Business Directplus (balance above £1,000) | 30 | £7 | £210 | £0 |
| Virgin Money Business Current Account | 25 | £6.50 | £162.50 | £0 |
| TSB Business Plus (existing TSB customers) | 30 | £5 | £150 | £0 |
| Lloyds Business Account | 12 | £10 | £120 | £120 |
| Santander Classic (start-up or switch) | 12 | £9.99 | £119.88 | £119.88 |
| Barclays Business Current Account | 12 | £8.50 | £102 | £102 |
| Metro Bank, new to bank | 12 | £8 | £96 | £96 |
| NatWest, start-up or full switch | 24 | £0 + £0.35 per automated item | Depends on volume | £0 |
NatWest is the odd one out. Its Standard Charges have no monthly fee, so the two free years save transaction charges instead. Use your own numbers. A business making 40 automated payments in or out each month would save this much:
- 40 automated items × £0.35
- £14 a month
- × 24 months free
- £336
NatWest free banking, 40 items a month£336
Put cash and fees together and the order changes. Over 24 months Lloyds charges £120 in monthly fees, but the £200 boost more than covers that.
- Lloyds monthly fees, months 13–24 (12 × £10)
- £120
- £200 boost
- −£200
Lloyds over 24 months, monthly fees only£80 ahead
Software perks: only count what you would pay for anyway
Seven providers bundle accounting software. Free software is worth its price only if you would buy it anyway, and only above what the software company offers everyone. Xero’s UK pricing page currently gives new customers 90% off for six months. Ignite then costs £18 a month excluding VAT.
- Xero Ignite, 6 months at list price (6 × £18)
- £108
- Same 6 months on Xero’s public 90% offer (6 × £1.80)
- £10.80
- Extra saving from a bank’s 100% offer
- £97.20
- £200 gift card minus the month-7 Ignite fee
- £182
Lloyds or Santander Xero offer on Ignite, excl. VAT£279.20
- Barclays and Sage: 12 months free, then 50% off. Barclays values the first year at up to £708 (Plus) or £84 (Sole Trader).
- HSBC and Sage: My Business Finances is free for 12 months if you sign up by 30 June 2027, then £5.99 + VAT a month. Non-VAT-registered sole traders only; worth £71.88 excluding VAT.
- Mettle and FreeAgent: included for as long as you make one Mettle transaction a month. Mettle puts the saving at up to £150 a year, based on FreeAgent’s lowest tariff.
- Monzo and Xero: 6 months free on Pro (£9 a month) or 8 on Team; you pay for Monzo’s plan to get it.
- Virgin Money and Xero: 6 months at 100% off, open to new and existing Virgin Money business customers.
Should you switch with CASS or open a new account?
The Current Account Switch Service (CASS) moves your balance, direct debits and standing orders to the new bank. It completes on a date you choose, at least seven working days away, and it closes the old account. Payments sent to the old account are then redirected. NatWest’s switching page describes the business eligibility for a full switch: turnover and/or balance sheet total under £6.5m, and fewer than 50 employees.
- Full switch required: Metro’s 31 months (in store, from a bank in CASS), NatWest’s 2 years for established businesses (turnover up to £2m), and Santander Classic’s 12 months for businesses that are not start-ups.
- Switch counts but is not required: Lloyds. Direct debits moved by CASS count towards the two you need for the £200.
- New account only: Revolut, Tide, Zempler, Monzo, Barclays and Metro’s 12-month new-to-bank offer. You can keep your old bank running alongside.
- Read the terms first Note “full switch”, “new customer” or “apply online”, and save a dated copy.
- Open the new account first A CASS switch starts after the new account exists.
- Choose a full switch NatWest’s partial switches don’t get free banking.
- Diarise the deadlines For Lloyds that means card spend and two direct debits by 15 February 2027.
- Keep the account open until you are paid Lloyds, Tide and Zempler all require the account to still be open when the reward is paid.
More in our guide to switching a business bank account.
Who is excluded? The eligibility traps in the small print
These are the rules in the current terms that are easiest to miss.
“New customer” means different things at different banks. Lloyds excludes anyone already holding a Lloyds or Bank of Scotland Business Account. Metro looks at the business entity and whether it held a Metro business account in the last 24 months. Revolut excludes anyone who has ever held a Revolut Business account with any Revolut group company. Zempler excludes past Cashplus customers too.
- Turnover caps: Lloyds £3m, NatWest £2m for switchers and £1m for start-ups, Virgin Money £6.5m. NatWest also ends free banking on new accounts if cash deposits exceed £200,000 in any 12 months.
- Residency and location: Lloyds needs the applicant to be a UK resident with a UK mobile number. Revolut’s promotion covers England, Scotland and Wales only. Virgin Money excludes businesses based in Northern Ireland, the Channel Islands and the Isle of Man. Santander Classic needs every director, owner or partner (up to two) to live in the UK.
- Previous switches: NatWest’s switch offer excludes accounts switched from Royal Bank of Scotland or Ulster Bank, and switches from a personal account.
- Balance conditions: Co-op charges the £7 fee and higher item charges for any period in which the balance dips below £1,000. Tide needs £10,000 held for 30 consecutive days. Allica’s Welcome Boost needs £50,000 or more.
- Spend that doesn’t count: Lloyds excludes cash, transfers, gambling, crypto and refunds from the £100.
- you are new to that bank, and to Xero for the gift cards
- you will use the card and direct debits anyway
- you can diarise a deadline months away
- you need a branch, cash handling or particular services more than £200
- you would pay a monthly plan only to get the bonus
- you held an account with that bank or group recently
Can you combine business bank account offers?
Only where the terms allow it, and several say outright that they don’t.
| Combination | Allowed? | What the terms say |
|---|---|---|
| Lloyds £200 boost + Lloyds/Xero offer | Yes | The offer page says to open by 30 November if you want both rewards, and its FAQ calls them separate offers |
| Tide TIS200 + Tide £50 partner code | No | TIS200 cannot be used with any other Tide offer for opening a new account |
| Metro 31 months + any other Metro offer | No | Not available with any other offer, once per business |
| Santander Xero gift card + another Xero offer | No | Cannot be combined with third-party or other Xero offers |
| Two banks’ Xero offers | In practice, no | Each needs you to be a new Xero customer |
| Barclays 12 months free + Barclays Sage offer | No exclusion found | The Sage offer only requires a Barclays business current account |
| Virgin Money 25 months + Virgin Money Xero | No exclusion found | The Xero offer is open to new and existing business current account holders |
One structural limit applies everywhere. A full CASS switch moves one old account to one new bank and closes it, so you cannot use the same old account to trigger switch offers at two banks.
New business account offers, fee changes and deadlines, in one short email.
Is a business bank account bonus taxable?
This is general information, not tax advice. HMRC’s Business Income Manual says that “a cash-back received in the course of trading is a receipt of the trade”. On that basis, a bonus paid to your business account for opening it should be treated as business income, included in taxable profits. For a sole trader that means income tax and National Insurance on profits. For a limited company it means corporation tax.
The banks say the same in their own way. Lloyds pays its £200 gross and says you are responsible for any tax due. The Lloyds/Xero terms say the gift card recipient must determine and account for any tax, and that neither Lloyds nor Xero gives tax advice. A fee-free period simply means a smaller bank charges expense. Ask your accountant how to record a bonus.
Which offer fits your business?
Sole traders
Xero free for 6 months, plus a £200 Amazon gift card after the first paid Xero month (month 7). Provided by Xero.
- Open a qualifying Lloyds Business Account: a new customer (including switchers), or an existing customer opening an account for a new business.
- Buy your first Xero subscription as a new Xero customer through the link Lloyds emails you, by 23:59 on 31 March 2027. The 6 free months cover Simple, Ignite, Grow, Comprehensive and Ultimate.
- Connect the Lloyds account to Xero within 7 months of subscribing.
- For the £200 Amazon gift card, pay the first monthly Xero fee (month 7) on a plan other than Simple, then redeem within 30 days of Xero's email.
Remind me before it ends
Xero free for 6 months, plus a £200 gift card (choice of 10 retailers, such as Amazon or John Lewis) after the first paid Xero month (month 7). Provided by Xero.
- Activate the offer in Santander Online/Mobile Banking under 'Beyond Banking offers' > 'Accounting with Xero', using the account's registered business email.
- Be a new Xero customer and remain one for 7 consecutive months.
- Connect the Santander business bank feed within 7 months.
- Be on a paid Ignite, Grow, Comprehensive or Ultimate plan in month 7. Simple is excluded.
£200 cash 'boost' for new Lloyds business customers who apply online by 30 November 2026, spend £100 on the Visa debit card and set up 2 direct debits by 15 February 2027. Full CASS switchers also qualify.
- Submit an online application for a new Lloyds Business Account between 16 October and 30 November 2026. Saved or incomplete applications don't count.
- By 15 February 2027, spend at least £100 on eligible purchases with the Visa debit card. Cash, transfers, gambling, financial services, crypto and refunds are excluded.
- By 15 February 2027, set up two direct debits from the new account. Direct debits moved by a CASS switch count.
- Lloyds pays £200 into the Business Account by the end of March 2027, and the account must still be open.
Remind me before it ends
£200 welcome bonus for new UK Revolut Business customers who sign up via a partner promo landing page and add at least £0.01 by 31 December 2026.
- Open the Revolut Business account via the promotion landing page or partner link. Normal in-app sign-up does not qualify.
- Pass KYC/KYB checks and be onboarded.
- Top up the account with at least £0.01 by 31 December 2026.
- The cashback is credited within five business days after the end of the Promotion Period (per the influencer promotion terms).
Remind me before it ends
Limited companies
Xero free for 6 months, plus a £200 Amazon gift card after the first paid Xero month (month 7). Provided by Xero.
- Open a qualifying Lloyds Business Account: a new customer (including switchers), or an existing customer opening an account for a new business.
- Buy your first Xero subscription as a new Xero customer through the link Lloyds emails you, by 23:59 on 31 March 2027. The 6 free months cover Simple, Ignite, Grow, Comprehensive and Ultimate.
- Connect the Lloyds account to Xero within 7 months of subscribing.
- For the £200 Amazon gift card, pay the first monthly Xero fee (month 7) on a plan other than Simple, then redeem within 30 days of Xero's email.
Remind me before it ends
Xero free for 6 months, plus a £200 gift card (choice of 10 retailers, such as Amazon or John Lewis) after the first paid Xero month (month 7). Provided by Xero.
- Activate the offer in Santander Online/Mobile Banking under 'Beyond Banking offers' > 'Accounting with Xero', using the account's registered business email.
- Be a new Xero customer and remain one for 7 consecutive months.
- Connect the Santander business bank feed within 7 months.
- Be on a paid Ignite, Grow, Comprehensive or Ultimate plan in month 7. Simple is excluded.
£200 cash 'boost' for new Lloyds business customers who apply online by 30 November 2026, spend £100 on the Visa debit card and set up 2 direct debits by 15 February 2027. Full CASS switchers also qualify.
- Submit an online application for a new Lloyds Business Account between 16 October and 30 November 2026. Saved or incomplete applications don't count.
- By 15 February 2027, spend at least £100 on eligible purchases with the Visa debit card. Cash, transfers, gambling, financial services, crypto and refunds are excluded.
- By 15 February 2027, set up two direct debits from the new account. Direct debits moved by a CASS switch count.
- Lloyds pays £200 into the Business Account by the end of March 2027, and the account must still be open.
Remind me before it ends
£200 welcome bonus for new UK Revolut Business customers who sign up via a partner promo landing page and add at least £0.01 by 31 December 2026.
- Open the Revolut Business account via the promotion landing page or partner link. Normal in-app sign-up does not qualify.
- Pass KYC/KYB checks and be onboarded.
- Top up the account with at least £0.01 by 31 December 2026.
- The cashback is credited within five business days after the end of the Promotion Period (per the influencer promotion terms).
Remind me before it ends
For established businesses ready to switch
31 months of free banking when you complete a full CASS switch to a Metro Bank Business Bank Account in store. Includes free cash transactions up to £10,000 and optional access to a 2.50% AER (variable) Business Instant Access rate.
- Open a Metro Bank Business Bank Account in store, bringing the required documents.
- Complete a full switch from an eligible bank using the Current Account Switch Service (CASS). Commercial, Community and Foreign Currency accounts are not eligible.
- Free banking starts when the full switch completes. Fees incurred before that are still charged.
- Optional: apply for the Business Instant Access enhanced rate within 30 days of the switch completing.
- businesses near a Metro store, happy to visit with documents
- businesses handling some cash: up to £10,000 of cash transactions is included
- anyone wanting predictable costs until 2029
- anyone wanting to keep their old account (a full switch closes it)
- businesses that rely on CHAPS or international payments, which are not covered
- anyone also wanting another Metro offer
For businesses with spare cash
£200 reward for new Tide members who use code TIS200 and hold at least £10,000 in the Tide Instant Saver for 30 consecutive days.
- Sign up for a Tide Business Current Account with promo code TIS200. The code can also be applied in the app within 1 week of opening.
- Complete KYC and open the account between 1 May 2025 and 19 December 2026.
- Fund the Tide Instant Saver with at least £10,000 (one or more payments) within 30 days of account opening.
- Keep a balance of £10,000 or more for at least 30 consecutive days.
Remind me before it ends
- businesses already holding £10,000 they don’t need for 30 days
- directors who live overseas (Tide accepts them; sole traders need a UK address)
- start-ups without a cash buffer
- anyone who wants to use a Tide £50 partner code as well
More on the conditions in our Tide offer explainer. If you are choosing an account on fees rather than offers, start with our business bank accounts hub.
How does TillRadar check these offers?
Every live offer here was read on the provider’s own page, terms or tariff, including third-party terms such as Xero’s, and each card shows the date. When our dataset and the provider’s document disagree, the provider’s document wins and we correct the dataset. This round, we corrected NatWest’s switcher exclusions and added its new £200,000 cash deposit limit.
We leave out offers we cannot confirm at the source, such as codes found only on affiliate sites and targeted in-app offers. Offers with no end date can be withdrawn without notice, so we re-check them before each monthly roundup. The current one is UK business bank account offers for November 2026. Ten offers ended earlier in 2026, including four Co-op Bank bonuses and four Tide codes.
Frequently asked questions
Which UK business bank account offer pays the most cash?
Several pay £200: Lloyds, Revolut Business through partner sign-up pages, and Tide with code TIS200. Lloyds is the only one whose own page allows a second offer on top, Xero’s £200 Amazon gift card, which brings the total to up to £400. The gift card needs you to pay Xero for month 7.
Do I have to switch banks with CASS to get a business account bonus?
Only for some offers. Metro’s 31 months, NatWest’s 2 years for established businesses and Santander’s 12 months for non-start-ups need a full CASS switch. That closes your old account. Lloyds, Revolut, Tide, Zempler, Monzo and Barclays offers work with a newly opened account.
How much is 12 months of free business banking worth?
Multiply the months by the fee you would otherwise pay. At Lloyds that is 12 × £10 = £120, at Santander 12 × £9.99 = £119.88, and at Barclays 12 × £8.50 = £102. Free transaction charges add more, depending on how many payments you make.
Can I get the Lloyds £200 if I already bank with Bank of Scotland?
No. The terms exclude anyone who already holds a Business Account with Lloyds Bank or Bank of Scotland. The Xero part of the offer is different: an existing Lloyds customer opening an account for a new business can still qualify for it.
Is a business bank switching bonus taxable?
HMRC’s Business Income Manual treats a cashback received in the course of trading as a trading receipt, so assume it adds to your taxable profit. Lloyds also states it pays the £200 gross and that you are responsible for any tax. This is general information; confirm the treatment with your accountant.
Sources
- Lloyds Bank: Business Account offer, £200 boost and Xero offer terms
- Lloyds Bank: business account charges
- Xero: Santander gift card offer terms
- Xero: UK pricing plans
- Revolut: Influencer Promotion, Top-up and Get Cashback terms
- Tide: TIS200 promotional terms
- Tide: £50 cashback partnerships offer terms
- Metro Bank: 31-month full switcher offer terms
- Metro Bank: new-to-bank 12-month offer terms
- Metro Bank: Business Bank Account important information summary
- NatWest: switch to NatWest
- NatWest: Business Current Account and Foundation Account charges
- Santander: Business Current Account – Classic
- Virgin Money: Business Current Account
- Barclays: Business Current Account
- Barclays: Sage software offer
- The Co-operative Bank: Business Directplus tariff
- HSBC UK: Small Business Banking Account
- Mettle: FreeAgent included
- Monzo: Business referral scheme terms v1.4
- Zempler Bank: deposit £250 and get £50 terms
- Current Account Switch Service: FAQs
- HMRC Business Income Manual BIM100210: cash-backs
Checked on 19 October 2026 against the providers’ published terms. Offers and fees change; the provider’s own documents always prevail.