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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

Open an account

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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 interest on your savings

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

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.

Open an account

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

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

Open an account

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

Earn up to 4.22% AER* (variable) on your business savings

Learn more

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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
  • Unlimited free transfers
  • ✔️ International payments
  • ✔️ Up to 2.78% on savings
  • Enhanced team access
  • Phone support
  • Legal helpline
  • 0.5% cashback with your Tide card
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Smart

£12.49+ VAT MONTHLY

Smart account
  • Unlimited free transfers
  • ✔️ International payments
  • ✔️ Up to 3.29% on savings
  • ✔️ Enhanced team access
  • ✔️ Phone support
  • ✔️ Legal helpline
  • 0.5% cashback with your Tide card
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Pro

£24.99+ VAT MONTHLY

Pro account
  • ✔️ Unlimited free transfers
  • ✔️ International payments
  • ✔️ Up to 3.81% on savings
  • ✔️ Enhanced team access
  • ✔️ Phone support
  • ✔️ Legal helpline
  • 0.5% cashback with your Tide card
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Max

£69.99 +VAT / month

Max account
  • ✔️ Unlimited free transfers
  • ✔️ International payments
  • ✔️ Up to 4.12% on savings
  • ✔️ Enhanced team access
  • ✔️ Phone and dedicated member support
  • ✔️ Legal helpline
  • ✔️ 0.5% cashback with your Tide card

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