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SOLE TRADER BANK ACCOUNT

Set up your sole trader bank account in minutes

Did you recently register as a sole trader? Join Tide today and open a free sole trader bank accountthere’s no monthly fee and you can start using it straight away. 

  • Get paid faster and stay on top of cash flow with flexible in-app payments

  • Power through your Self Assessment using our simple accounting software

  • Access business credit options to cover business expenses and keep growing

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Everything you need from a sole trader bank account

With over 1 million freelancers, contractors, and scaling businesses trusting in Tide worldwide, we’re committed to building you the best sole trader bank account to help you set up your business smoothly.

£0/month

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

Instant setup

Set up a sole trader bank account in minutes and receive a card within days.

Earn 3.81% AER variable

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

Easy accounting

Connect your accounting software to your bank account for seamless and intuitive financial reporting.

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.

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Open a business account in minutes

Open a free sole trader bank account in minutes

Getting started with Tide is easy

  1. Download the app On Play Store or Apple Store

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

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

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

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

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Our sole trader bank account is packed with tools that save you time and money

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Payment Links

Generate and 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 business.

Invoicing

Create, track, and send professional invoices straight from the Tide app to get paid faster.

Apple/Google Pay

Set up a digital wallet to make every payment effortless.

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Tap to pay on iPhone

Accept contactless payments directly and securely on your iPhone – no additional hardware needed.

International Payments

Access your IBAN number in the Tide app to send & receive international payments in a few taps.

Virtual Cards

Pay for your online subscriptions and advertising expenses with our Virtual Cards, seamlessly connected to the Tide app.

CSV exports and more

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

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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.

You must be over 18

You can’t be in any business partnership

Your business must be UK-based

Your business can’t be managed by another legal entity

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 Why Switch to Tide? 

  • Make manual admin a thing of the past – use the Current Account Switching Service to move your existing business account to Tide effortlessly.

  • Switching is completely free, and Tide takes care of everything, so you don’t have to.

  • Simply enter your old bank details – the rest is handled automatically, reliably, and without hassle.

Switch to Tide

A powerful all-in-one platform to support your business as a sole trader

Unlock smart, powerful tools designed to drive business growth and scalability.

Tide Accounting

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

Learn more

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Business Savings

Put your money to work with 3.81% AER variable interest.

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Tide Card Reader

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

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Business loans

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

Learn more

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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.

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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
  • 1.75% fee on foreign currency card transactions
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Smart

£12.49+ VAT MONTHLY

Smart account
  • Your Tide business card Free
  • Expense Cards for your team 1 free card included
  • Transfer in & out 25/month free
  • ATM withdrawals £1
  • 0% fee on foreign currency card transactions
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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
  • 0% on fee foreign currency card transactions
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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
  • 0% on fee foreign currency card transactions

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.

Sole trader account FAQs

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.

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.

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

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

We understand businesses, it's all we do

Tide is built by business owners for business owners. That’s why we’re trusted by over 1 million sole traders, freelancers, and limited companies worldwide.

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