EyeOnHow it works
Business accounts can provide transfers, merchant-payment links, multiple-user access and accounting exports. Transaction fees, cash-deposit charges and paid service tiers are common features to compare. The account holder could be a sole trader or a separate legal entity, which affects who owns the funds. A personal account may prohibit business use even where local law does not require a separate business account.
What if you have bad credit?
Checks may involve the business, owners, directors and beneficial owners. Poor personal credit can matter for borrowing or guarantees, but a deposit account and a business loan are separate applications. Business age, activity, residency and identity checks may affect account access even without credit.
What to look for before applying
- Permitted business activities and accepted legal structures
- Monthly, transaction, cash and international payment fees
- User permissions, approval controls and accounting compatibility
- Ownership of deposits and any personal guarantees for credit
A simple example
An account costing 8 a month plus 0.25 for each of 100 chargeable monthly transactions costs 33 that month. A low monthly fee can hide a larger overall transaction cost.
Examples use made-up figures to explain the feature. They are not offers, quotes or personalised advice.
Who holds the money, and what protects it?
Check the legal institution holding your money, not just the app or brand name. A qualifying deposit at a covered bank or credit union may have deposit protection, subject to the scheme’s limits, eligibility and aggregation rules. Different brands can share one banking licence. E-money safeguarding and a bank-deposit guarantee are not the same thing.
No protection amount applies everywhere. Check your local scheme, whether this account and currency qualify, how balances with the same institution are combined and whether joint or business ownership changes the calculation. Protection against an institution failing is also different from rights concerning scams or unauthorised payments.
How the rules vary by country
Business deposit protection and eligibility depend on local schemes and legal ownership. A company’s deposits may be treated differently from a sole trader’s personal and trading balances.
Official reading and local context
These sources describe particular countries, not worldwide rights. Page reviewed 17 October 2026; account terms and regulations can change.