SOLE TRADER BANK ACCOUNT

Set up your sole trader bank account in minutes

Recently started as a sole trader? With Tide, you can open a free business bank account and start using it straight away.

We have all the business tools you need to progress as a sole trader and beyond, and we'll help you at every step of the way.

Open a free account

Everything you need as a sole trader

With over 150,000 sole traders trusting in Tide, we make sure you have everything you need to set up your business smoothly, saving you time and money.

£0/month

Only pay for what you use, with low transaction and ATM fees.

Instant setup

Set up an account within minutes and receive a card within days.

Simple accounting

Connect your accounting software and bank account for easy reporting.

Earn 3.55% AER variable

Get more out of your savings with our Instant Saver Account – no limits or withdrawal fees. T&Cs apply.

Safe and secure

24/7 account monitoring, ensuring your money is safe.

24/7 support

Start a chat and get help in the app any time, 365 days a year.

Open a free account

Open a free sole trader bank account in minutes

Getting started with Tide is easy

Download the app On Play Store or Apple Store

Tell us about your business What’s your business name and industry

Upload your ID and take a selfie We’ll securely verify who you are

Get your current account approved in minutes We may ask for additional information if required

You’re all set! Your account is ready to go – we’ll send your card in a couple of days

Open a free account

Why Switch to Tide?

Get all your business admin done in one place effortlessly by switching your existing business bank account over to Tide with the Current Account Switching Service.

It’s free, easy and we’ll handle all of it for you.

Simply fill out your old bank details and the switch will be done automatically, reliably and hassle-free.

Switch to Tide

Our sole trader bank account has a suite of tools, made to save you time and money

Streamline your finances easily and access the tools you need, straight from the app.

Payment Links

Send payment links in seconds for easy online card transactions.

Auto-categorisation

We automatically tag your income and spending. Customise the labels to suit your company.

Direct Debit

See and manage any Direct Debits easily, straight from the app.

Apple/Google Pay

Set-up Apple and Google Pay to make every payment a breeze.

CSV exports and more

Export your transactions in multiple formats or share with your accountant.

Open a free account

The all-in-one platform for managing your business seamlessly

Explore our additional tools designed to take your business to new heights.

Tide Accounting

Make completing Self Assessments and VAT returns seamless with Tide Accounting.

Learn more

Business Savings

Put your money to work with 3.55% AER variable interest. T&Cs apply

Learn more

Tide Card Reader

In-person card payments without the fuss. Get unlimited mobile data and get paid anywhere.

Learn more

Business Loans

Apply for finance to keep your business growing, without impacting your credit score.

Learn more

The sole trader bank account that grows with you

No matter where you are in the journey, Tide will be with you every step of the way—from just starting out to growing bigger.

Free

£0.00+ VAT MONTHLY

Open a free account

Your Tide business card Free
Expense Cards for your team £5 / month
Transfer in & out 20p per transfer
ATM withdrawals £1

Plus

£9.99+ VAT MONTHLY

Plus account

Your Tide business card Free
Expense Cards for your team 1 free card included
Transfer in & out 20/month free
ATM withdrawals £1

Pro

£18.99+ VAT MONTHLY

Pro account

Your Tide business card Free
Expense Cards for your team 2 free expense cards included
Transfers in & out Unlimited
ATM withdrawals £1

Cashback

£49.99 +VAT / month

Cashback account

Your Tide business card Free
Expense Cards for your team 3 free expense cards included
Transfers in & out Unlimited
ATM withdrawals £1

Open a free account

Am I eligible for a sole trader bank account?

Applying for a sole trader account with Tide is easy; however, there are a few things you need to check to ensure you’re eligible.

Your business must be UK-based

You can’t be in any business partnership

Your business can’t be managed by another legal entity

Your business isn’t registered on Companies House

Open a free account

Claire PedleyThe Poured Project

Once I’d filled in the application online, the account was active in about an hour. I can’t stress how easy Tide is to use.

Open a free account

Sole trader related blogs

What is a sole trader?

A sole trader is someone who is self employed, and has their own source of income outside of a PAYE-based job. This is the first step for many businesses.

What bank account does a sole trader need?

A sole trader can use any bank account, including a personal account. However, when it comes to managing finances, using one account for your personal and business finances is not advised. A separate bank account, such as a Tide account, is best for a sole trader.

Can a sole trader be paid into a personal account?

Yes, however as we recommend in the previous FAQ, separating your finances will make accounting and tax filing much easier.

Do I need a business account as a sole trader?

It’s not a legal requirement to have a business account as a sole trader, and you can legally use any account. However, it’s highly advised for accounting and tax purposes to separate your business and personal finances.

Help, my question isn’t answered here Find answers to all our most frequently asked questions about opening an account

Start your journey and open a business bank account today

Tide is about doing what you love. That’s why we’re trusted by 600,000+ sole traders, freelancers and limited companies throughout the UK.

Open a free account

SOLE TRADER BANK ACCOUNT

Set up your sole trader bank account in minutes

Everything you need as a sole trader

£0/month

Instant setup

Simple accounting

Earn 3.55% AER variable

Safe and secure

24/7 support

Open a free sole trader bank account in minutes

Why Switch to Tide?

Our sole trader bank account has a suite of tools, made to save you time and money

Payment Links

Auto-categorisation

Direct Debit

Apple/Google Pay

CSV exports and more

The all-in-one platform for managing your business seamlessly

Tide Accounting

Business Savings

Tide Card Reader

Business Loans

The sole trader bank account that grows with you

Free

Plus

Pro

Cashback

Am I eligible for a sole trader bank account?

Your business must be UK-based

You can’t be in any business partnership

Your business can’t be managed by another legal entity

Your business isn’t registered on Companies House

Once I’d filled in the application online, the account was active in about an hour. I can’t stress how easy Tide is to use.

Sole trader related blogs

Sole trader vs limited company. Which is better?

Everything you need to know about Self Assessment tax returns

Self Assessment expenses – what can I claim if I’m self-employed?

Self Assessment penalties – everything you need to know

Key UK tax year dates for small businesses 2024/25

Sole trader account FAQs

What is a sole trader?

What bank account does a sole trader need?

Can a sole trader be paid into a personal account?

Do I need a business account as a sole trader?

Start your journey and open a business bank account today