When standard business banking starts to feel like a ceiling rather than a foundation, it may be time for something different. OakNorth was designed for fast-growing businesses that need more flexibility, more expertise, and a bank that can keep pace with their ambitions.
Built for UK companies with £1m+ turnover, £1m+ in assets, or a minimum £50k deposit.
Open in days, not months
Apply in under 10 minutes. We'll normally have you up and running in days – not the weeks or months you've come to expect from the traditional high street banks. Scaling businesses can't afford to wait.
Multi-company accounts under one login
Running multiple entities? Manage all your businesses from a single dashboard at no extra cost. Switch between companies, track balances, and control user permissions – all in one place.
A dedicated Business Partner, not a call centre
Every OakNorth customer gets a named Business Partner who knows your business. Call, email, or book a meeting – they're there when you need them.
Security you can bank on
Multi-factor authentication, biometric login, and fraud detection as standard. Your eligible deposits are protected up to £120,000 by the Financial Services Compensation Scheme — the same protection as any high street bank.
Fee-free cards and payments at scale
Send and receive payments up to £1m+ via Faster Payments or CHAPS. Pay up to 250 recipients at once with bulk payments. Issue as many Visa debit cards as your team needs — at no extra cost.
Earn interest on your cash
Earn up to 3.50% AER on balances with our business savings accounts. Easy-access option available – or lock in a higher rate with our notice accounts. Business savings are only available to Business Current Account holders.
OakNorth was founded by entrepreneurs who experienced first-hand how traditional banks fail growing businesses. Since 2015, we’ve lent over £13bn to UK businesses, supported 56,000+ jobs and 34,000+ homes, and built a banking platform designed specifically for businesses in the £1m–£100m turnover range — the “Missing Middle” that high street banks overlook.
FCA and PRA regulated. FSCS protected up to £120,000. The same protections as any high street bank — with none of the friction.
Check your eligibility
Download the app and complete your application
Start banking
Less than you’d expect. You can simply open an account with OakNorth while keeping your existing accounts open so there’s no gap in your ability to make or receive payments. Most businesses are fully up and running within a few days of being approved. Your dedicated Business Partner will guide you through the process and make sure nothing falls through the cracks.
Yes. Your eligible deposits are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS) — the same level of protection you’d have with any high street bank. OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
It means you get a named individual who knows your business — not a rotating team, not a call centre. You can reach them by phone, email, or by booking a meeting. For most of our customers, it’s the single biggest difference from banking anywhere else.
Most businesses complete the online application in under 10 minutes. You’ll need to provide some basic company details and complete identity and security checks. Once approved, you can access your account, invite your team, and start making payments straight away.
No monthly account fees, no fees for debit cards, and no charges for standard UK payments. Full details are available in our Key Product Information document as well as the fees, limits here.
Yes. If you run more than one entity, you can manage all of them from a single OakNorth login at no extra cost. Switch between companies, track balances separately, and control team permissions — all in one place. It’s particularly popular with founders running group structures or multiple trading entities.
Join the scaling UK businesses already banking with OakNorth. Check your eligibility in 2 minutes. Want to see the platform first? Book a walkthrough.
† No account fees as of 4th July 2024 but subject to change. ‡ Variable rate correct as of 18th December 2025. ****Rate correct as of 18th December 2025. The interest rate for this account is variable and will track the Bank of England Base rate plus or minus a fixed spread (this is the rate that we add or subtract from the Bank of England Base rate). When applying, you will have full clarity on the interest rate (which will include the Bank of England Base rate and the spread). So, if the Bank of England Base rate goes up, your rate will go up; and if the rate comes down, your rate will follow. The interest rate on your account will be updated on the same day to reflect the change made to the Bank of England Base rate. Interest is paid on your whole balance once it exceeds £100,000. Balances of £99,999 and under do not earn interest. Read the Terms and Conditions here.
You understand and acknowledge that the business current account and the mobile app are being provided on an “as is” basis without warranty of any kind. Whilst we will constantly endeavor to improve our product(s), we cannot guarantee that they are free from lags, bugs or a slower than intended response time. Your and our liability in relation to the product is covered in full within the Terms and Conditions. Any communication by an OakNorth business partner is merely a statement of facts and not a recommendation or advice of any kind including with respect to any financial projections, estimates or forecasts related to any product being offered. You are requested to rely on your own analysis before investing/purchasing.
This Visa card is issued by Transact Payments Limited. Transact Payments Limited is authorised and regulated by the Gibraltar Financial Services Commission. Visa is a trademark owned by Visa International Service Association and used under license.
OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Financial Services Register number: 629564. The Financial Services Register can be accessed at www.fca.org.uk/register. Registered Office: 57 Broadwick Street, London W1F 9QS, Registered in England No. 08595042.
Key Product Information | Terms and Conditions | FSCS Information Sheet | Privacy Notice
