FREELANCER BANK ACCOUNT

A freelancer bank account is a business bank account tailored to the needs of freelancers and self-employed individuals. It helps manage income, expenses, and taxes separately from personal finances.

While not legally required, having a separate bank account is highly recommended. It helps organise your finances, track business expenses, and simplifies tax preparation.

The time to open an account can vary, but many banks and digital banking platforms offer quick and easy application processes that can be completed within a few days. At Tide, most members have their account set up in minutes, though this process can take up to a few days depending on the complexity of the business. 

Fees vary by bank, but many offer low-fee or fee-free accounts for freelancers. Common fees to watch for include monthly maintenance fees, transaction fees, and charges for additional services. At Tide, you can open a freelancer bank account for free, with no monthly charges or hidden fees. You are only charged for your use, such as 20p per transaction for our free account. You can view a list of our fees here.