BUSINESS BANKING

BANKING THAT BACKS
BIG DREAMS

Too big for digital banks, too fast for traditional ones? We’re more than a bank—we’re your growth partner. OakNorth Business Banking blends the best of agility and tech innovation with security and expertise to support businesses as they scale.

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Built for scale. Backed by experience.

Tired of waiting weeks to open a business bank account? Frustrated with rigid banking processes that don’t keep up with your business? We get it. 

Founded in 2015 by entrepreneurs who know firsthand the demands of rapid growth, OakNorth was built to empower high-growth companies to push boundaries and achieve more. We’ve already supported thousands of businesses, lending over £12bn since inception to fuel business expansion, job creation, and much-needed housing. 

Now, we’re empowering high-growth businesses to scale at speed with our business current accounts, savings options, cards, payment solutions, and more.

Business banking designed for growth

Business current account

  • Apply in the app in under 10 minutes
  • Open an account in days, not weeks or months
  • Access your account easily: via the app or web banking
  • No monthly account fees†
  • A Business Partner who is only a call or email away
  • Open accounts for multiple businesses, or open multiple accounts for the same business in just a few clicks (at no cost!)
  • Add your entire team to your account and set roles and permissions for each user
  • Pay up to 250 recipients at once with seamless bulk payments
  • Set up payment approvals to mirror your usual workflow
  • Sync your transactions directly to Xero, making it easier to stay on top of your finances (more integrations coming soon)

Business savings

Easy-access savings

  • Next-day savings vault with 3.10% AER interest‡
  • Get access to interest-bearing savings automatically when you open a current account
  • Move money easily between your current account and savings

95-day notice account

  • Have larger amounts of idle cash? Earn 4.25% AER on business savings in a separate 95-day notice account****

Visa business debit card

  • Free business debit cards (physical and virtual§) for you and your team
  • Manage all your business cards in one place and easily deactivate any with a single click 
  • Easily keep track of spending in-app or via web banking

Managing your money and business

  • Easily make high-value payments via CHAPS for free (no need to go in-branch)
  • Manage direct debits, Faster Payments, and Bacs all for free, from one payments hub
  • Tap into new business opportunities with specialist finance
  • FSCS protection on eligible deposits
Apply now

Want to book a demo?

Experience OakNorth business banking for yourself with a demo from one of our Business Partners.

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Big enough to protect. Agile enough to act.

UK bank licence

UK-regulated and here for the long haul.

Top 1% globally

We operate in the top tier of commercial banks.

FSCS-protected

All eligible deposits are protected up to £85,000.

Big on security

Superior fraud detection systems and strong encryption.

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One login. Total control.

Managing multiple entities shouldn’t mean juggling multiple logins and systems. Our multi-company accounts feature brings everything under one roof, making it easy to switch, track, and control finances across all your businesses (at no cost!). With our multi-company accounts, you get: 

  • One login for everything 
  • Free to open, free to use 
  • Quick and hassle-free account setup 
  • Flexible user permissions for each account
Apply now
27 hours 23 minutes to open – I’ve opened many bank accounts with many providers and this is a clear record – it’s like the 100 meters vs. a marathon!
Jeremy Gledhill, CFO at Honey
It took about as much time to set up the OakNorth account, as it does to order something off Prime…I’m usually difficult to impress – but I genuinely was surprised at how easy it was.
Richard Pearce, Co-Founder, Verto
I have been so impressed by the speed and transparency with which OakNorth operates. If the major clearing banks want to learn about how to genuinely do things differently, they should be looking at OakNorth.
Surinder Arora, Co-Founder and Chairman of Arora Group
The experience with OakNorth was genuinely delightful – fast, flexible, and focused. They may not be the cheapest lender in the market, but the quality of the experience makes the extra cost well worth it.
Paul Crookes and Dave Walker, Founders of CWC
We found OakNorth to be dynamic and entrepreneurial, but with an appreciation for rich insight and considerate decision-making.
Sophie Lawler, CEO of Total Fitness
OakNorth are utterly unique in their approach and have been a dream to work with – they are the only lender I’d recommend for entrepreneurs in high growth.
Matthew Mills, CEO of Deliciously Ella

A partner who understands your business

From simplifying multi-company management to unlocking bespoke finance, we turn complexity into clarity—giving you the freedom to focus on your next big move.  

Whether you need to add a new user to your account or discuss a potential business opportunity, you’ll have a dedicated Business Partner backed by a team that knows your business inside out. Gone are the days of waiting on hold.

Find out if your business is eligible

Move fast. Bank faster.

Scaling businesses can’t afford to wait weeks for a bank to catch up. Apply in under 10 minutes and start banking in days—not months. Once you’re a customer, you can open unlimited (free) accounts for separate entities or business needs and seamlessly manage them all under one login.  

Apply now

Purpose-built for ambitious businesses

Set your team up for success by customising your account to suit your business needs, not the other way around. From quick account opening to effortless payment approvals, OakNorth gives you full control over your banking—without the complexity.

Idle funds earning nothing?
Earn 3.10% AER in our next-day savings vault
Want to set up multiple accounts with unique account details?
You can do this yourself in a few simple clicks
Do multiple team members need access?
Your Business Partner can set that up for you in a matter of minutes
Want greater control over payments?
Easily set up payment approvals for users to mirror your usual workflow
Need Visa business debit cards for multiple team members?
They're free and easy to get your hands on
Don't have time to go in-branch to make large payments?
You can do it via the app with our CHAPs technology
See full features list
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Become an OakNorth business banking customer

You can apply for a business banking account with us if:

  • Your company has a turnover of over £1 million or you want to deposit a minimum of £100k
  • In case of a property company, your company has assets of over £1 million
  • You are a Director at any one of the following company types: Limited Company, Private Unlimited company, PLC, LLP, Overseas Company or certain types of Private Limited companies
  • Your company is registered in the UK with Companies House
  • Your company has an active status on Companies House
  • You are aged 18 years or over

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By submitting this form you are applying for OakNorth Business Banking and agree to us processing your data as described in our Privacy Notice and Cookie Policy.

Even bigger dreams for your business?

OakNorth goes beyond banking—we help businesses turn ambition into achievement with fast, flexible finance. Whether you’re expanding, acquiring, or investing in the future, we provide specialist finance designed for high-growth businesses. 

Learn more

FAQs

You can apply for an OakNorth business banking account if:

  • Your company has a turnover of over £1 million or you want to deposit a minimum of £100k

  • In case of a property company, your company has assets of over £1 million

  • You are a Director at any one of the following company types: Limited Company, Private Unlimited company, PLC, LLP, Overseas Company or certain types of Private Limited companies.

  • Your company is registered in the UK with Companies House

  • Your company has an active status on Companies House

  • You are aged 18 years or over

You can read more about the eligibility criteria in our terms and conditions.

We aim to open all business accounts within a matter of days. Once you submit your application via the app, we will aim to reach out to you within 48 working hours with an update or if any further information is needed. We’ll then be in touch about the status of your application as soon as we have processed it.

Please keep in mind, account opening times can vary from business to business.

If you want to talk about any opportunity, contact your business partner via ‘Get Help’ section in the App 9 AM to 5 PM, Monday to Friday.

Alternatively, you can find more information on how to contact us here.

All customers who have a business current account automatically get access to an easy-access business savings vault (or Earn vault)

The Earn vault is not offered as a stand-alone product.

Notes

† No account fees as of 4th July 2024 but subject to change. ‡ Variable rate correct as of 6th February 2025. § Virtual cards and spending limits coming soon. ****Rate correct as of 6th February 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 1st day of each calendar month to reflect the change made to the Bank of England Base rate. 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