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Top 5 Financial Solutions in the UK

Top 5 Financial Solutions

United Kingdom United Kingdom – March 2021
  • Mobile business accounts for small businesses
  • Accounting tools for business management
PricingCardWhat We LikeScoreOpen an Account
  • Free trial
  • Plans from Β£/€6/m
  • Smart business cards. Simplifies company spending
  • Advanced accounting integrations e.g. Xero, e-conomic & Sage
  • Enables easily controllable company cards
9.8
Start your free trial!
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Set spending limits for each card
  • Categorised transactions
  • Free top-ups (Pleo wallet & Pleo cards)
  • Upload online receipts and invoices
Plans & Prices
Support
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Payment Methods
  • Plans from €/Β£5/m
  • Spend management platform specifically designed for business
  • Customisable company cards
  • Instant & free transfers
9.5
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Permissions and roles for users
  • Cards available in Β£, € and USD $
Plans & Prices
Support
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Payment Methods
  • Free first 6 months
  • Additional plans from Β£5/m
  • Tools to manage your business expenses
  • VAT tax reminders
9.1
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Self-assessment requirements reminders
  • Tools to manage your expenses
  • Link your other bank accounts with ANNA
  • No transaction or ATM fees
Plans & Prices
Support
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Payment Methods
  • Free Plan
  • International transfer fees
  • Free GBP & EUR accounts
  • Save & budget via Goals
8.8
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
Plans & Prices
Support
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Payment Methods
  • Free plan
  • Fees & charges apply
  • A business account to send, spend, and receive multiple currencies with real exchange rates
  • Batch payments
8.5
Extra Protection
VPN Internet Security
Safe Password Vault
Additional Features
  • Automate payments and workflows with API
  • Downloadable statements
Plans & Prices
Support
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Payment Methods
1
Score
9.8
  • Smart business cards. Simplifies company spending
  • Advanced accounting integrations e.g. Xero, e-conomic & Sage
Start your free trial!
2
Score
9.5
  • Spend management platform specifically designed for business
  • Customisable company cards
3
  • Tools to manage your business expenses
4
  • Free GBP & EUR accounts
5
Score
8.5
  • A business account to send, spend, and receive multiple currencies with real exchange rates

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What are Mobile Banks for Business?

Mobile banking options comprise an ever-increasing component of the financial services used by SMEs in the UK. Leading High Street banks like Bank of Scotland, Lloyds, and Halifax are opening up additional channels to gain a competitive advantage in the mobile banking arena, on Android and iOS devices.

An array of Fintech banks operates alongside these established institutions, offering competitively-priced business services to account holders. Among others, business clients can apply for business cards, invoice services, complimentary transfers, perks and rewards, and spending controls on business accounts. The best mobile bank accounts for business offer a variety of features to business owners and staff, with all banking activity conducted on the go.

Business & personal online banking is the result of substantial technological progress, with mobile apps technology, mobile security, and banking services going mainstream. Mobile banking offers greater convenience and cost-effectiveness to both individuals and business clients.

Why Use a Mobile Bank for Your Business Needs?

Small and Medium Enterprises (SMEs) can benefit greatly from mobile banking services. With mobile banking, all that’s required to get started is a quick & easy download and installation of a mobile banking app.

Feature-rich banking options

A mobile bank account for business or a current account for business offers many benefits such as secure monitoring of spending habits, identifying suspicious activity, paperless statements and transactions, secure deposits of checks for business owners who are on the go, hassle-free banking without having to frequent land-based banks, and maximum control over the business’s money.

Maximum security

Mobile banking apps are highly sophisticated devices that allow business owners to instantly turn off business debit cards and credit cards if they go missing, or if fraudulent activity is suspected.

The card control features on mobile banking apps also allow account holders to monitor transactions, and receive mobile alerts for transactions, or for low balances. Other security features include 2FA (2 Factor Authentication) with verification required for transactions to process. These are among the many benefits of using a mobile bank for your business needs.

How to Compare Mobile Banks for Business?

Several factors need to be considered when comparing mobile banking options, namely:

  • Fees & pricing – fees may include foreign transaction fees, replacement card fees, ATM fees, cheque fees, account maintenance fees, inter-account transfer fees, outgoing wire transfer fees, deposit processing fees, ACH fees, minimum balance fees, et cetera. Pricing varies widely between mobile banks, with some offering a free plan, monthly pricing option, or annual pricing.
  • Payment options – a current account for business purposes typically offers debit cards for payments and withdrawals, and e-wallet compatibility such as ApplePay and Google Pay options.
  • Accounts and Features- Mobile banks offer a variety of banking options such as savings accounts, checking accounts, 2-in-1 personal and business accounts, multi-currency options, budgeting tools, invoice tracking, and rewards programs.
  • Safety and Security – mobile banking for business features ironclad security protocols such as SSL (secure socket layer) encryption, firewall protection, and 2FA (2 Factor Authentication). Bank-level security is assured with mobile banking apps for businesses.