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Switch your business account to TSB

Enjoy 30 Months free* day to day banking

Moving your business bank account to TSB is much easier than you might think. That’s why we’ll give you a team dedicated to managing your switch, leaving you free to concentrate on running your business.

Once you’ve switched you will have access to these added benefits:

  • Square offers available to suit your business
  • 3 months free access to Revenu
  • 1 year’s free expert business advice from Enterprise Nation
     
*Subject to keeping your account within agreed limits and not going overdrawn without arranging it first.
 

Switch Guarantee

Reasons to switch to TSB

We believe that smaller, independent businesses and organisations play a vital role in the success of communities, right across the UK. And that’s why we’re continuing to invest in products and services to help you run and grow your business now and in the future. To welcome you to TSB, our Business Plus account will give you 30 months free day to day banking*. You can open your account and then you can start your switch.

  • 30 months free day-to-day banking*
  • Dedicated team to take the hassle out of switching your account
  • Free Square Reader to take card payments easily. And pay no fees on your first £1,000 of sales
  • 3 months free** access to Revenu – an app exclusively for TSB Business customers that helps you quickly and conveniently request customer payments, and automatically reconcile your invoices with payments when linked with compatible accounting packages
  • Grow your business with specialist support from Enterprise Nation and Funding Options
  • Pay in cash and cheques at any Post Office counter
  • Manage your account online, on our Mobile App, over the phone or through our extensive branch network
*Subject to staying within agreed limits and not going overdrawn without arranging this first
**after your free access period, you’ll be asked to pay a £6 (inc. VAT) service fee every 30 days. TSB receives a commission once your service continues after the free access period.
 

Backed by the Current Account Switch Guarantee

The Current Account Switch Guarantee ensures your account will switch on a day of your choice.  Your payments will be automatically transferred and redirected to your new account, and in the unlikely event anything goes wrong with your switch, we will refund any interest and charges (incurred on your old or new current accounts) as a result of this failure as soon as it’s brought to our attention. And to make your decision to move even easier we’ll give you 30 months free* day to day business banking to welcome you to TSB. We’ll switch your Business Current Account in just seven working days.

  • Your switch is backed by the Current Account Switch Guarantee
  • Choose to switch to us when you apply, or at any time after 
  • You can choose the date you want your account to switch 
  • It’s simple and stress-free to switch and we’ll have it done in just seven working days
  • We will transfer all your existing payments for you – those going out, like Direct Debits and standing orders, those coming in like receipts from your customers and all payees you already have set up
  • Any payments made to or requested from your old account will be automatically redirected to your new account for at least three years. We will also contact the sender and give them your new account details

Already a TSB business customer looking to start your switch?

Speak to one of our specialist business banking Partners to start your switch today on 0345 835 3858

Our lines are open Monday to Friday 8am to 6pm and Saturday 9am to 2pm (excluding UK public holidays).

Looking to move your business banking to TSB?

Find out more and apply for our Business Plus account.

Find out more

Important Documents

Any questions?

Yes, so long as you have an annual turnover that does not exceed £6.5 million and you employ fewer than 50 people. If you are a small trust with a net asset value of less than £6.5 million you can also use the service. If you are still unsure whether you qualify, call us on 0345 835 3858.

No, we can’t switch business savings accounts or ISAs. However, you still have the option to open a Business Instant Access account with us.

We may be able to provide facilities to pay off any existing overdraft you might have, 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 do not come to an agreement with us. You will need to make separate arrangements to repay any balance owed with your old bank. 

Please be aware, your old bank is entitled to use any funds it receives to settle any outstanding debt on your old business account. 

Yes, you can still use your old bank account up until day 6 of the switch. If you set up any new payment arrangements on your old bank during the switch these will not be transferred.

If you use the Current Account Switch Service, your previous bank will close your old account. This ensures that any payments made to your old account are automatically redirected to your new account.

If you want to keep your old account open, you will not be able to use the Current Account Switching Service. This also means you won’t be covered by the switch guarantee. Please speak to your bank, as they’ll help to explain your options.

To cancel the switch completely, you need to let your new bank know at least 7 working days before your switch date. After that, only certain elements can be cancelled depending how far through the process we are.​

If you have given permissions to third party providers to make payments on your behalf, or to access your financial data, access to these services won’t be transferred automatically to your new account as part of the Current Account Switch Service.

1. Before you close your old business account, check whether you have any third party provider permissions set up and if so, who with.
2. Once your new business account is open you can give your permission to the third party provider to access your new account by providing them with your new account details. You will need to contact the third party provider directly to set this up. 
3. If you are unsure as to whether we will support the third party provider permissions on your account, ask us before your switch and we will be able to help.