Switch your business bank account to TSB

Yes, so long as your annual turnover doesn’t exceed £6.5 million and you employ fewer than 50 people.

If you’re unsure whether you can switch, call us on 0345 835 3858.

No, you can’t switch business savings accounts or ISAs.

However, you can open a Business Instant Access account with us.

You can apply for lending to pay off any existing overdraft you might have, this will be subject to our normal lending criteria.

If you agree an overdraft limit with us, it may not match what was offered by your old bank. If you don’t come to an agreement with us, you’ll need to make separate arrangements to repay any balance owed with your old bank before you can switch. 

Please be aware that your old bank can use any funds it receives to settle outstanding debt on your old business account. 

Yes, you can still use your old bank account until day 6 of the switch.

If you set up new payments from your old bank during the switch they won’t be transferred.

If you use the Current Account Switch Service, your old bank will close the account you hold with them. This will ensure that any payments made to that account are automatically redirected to your new one.

If you want to keep your old business account open, you cannot use the Current Account Switching Service and you won’t be covered by the switch guarantee.

If you want to do this, please speak to your bank and they can explain your options.

You can cancel the switch completely by letting your new bank know at least 7 working days before your switch date. After that period, only certain elements can be cancelled, which will depend on how far through the process you are.

Access to third-party providers isn’t carried over as part of the Current Account Switch Service.

If you’ve given third-party providers access to your account, then you’ll need to set them up again. To help with this:

1. Check whether you have any third-party provider permissions set up and who with before closing your old business account
2. Once your new business account is open you can give your third-party providers access to your new account by contacting them directly and giving them your new account details
3. If you’re unsure whether we’ll support the third-party provider permissions on your account, give us a call on 0345 835 3858