Outgrown the start-up stereotype and need a business banking solution that’ll cater to the complex needs of your scaling business? You’ve come to the right place.
Since 2015, we’ve backed countless trailblazing businesses, injecting over £10bn into UK communities by supporting ambitious business growth.
Now, we’re empowering high-growth businesses with a turnover of £1m+, assets over £1m if operating in the real estate sector, or those ready to deposit £100k or more, to scale at speed with our business current account, easy-access savings at 3.85% AER, cards, payment solutions and more.
We don’t paint all scaling businesses within a sector with the same brush, enabling us to create bespoke solutions for every business.
Informed by data more detailed than most other banks and credit tools, we understand your complex business needs.
Spend | Business current account
Earn | Easy-access savings at 3.85% AER
Visa business debit card
Managing your money and business
If hold music puts you to sleep, then we’ve got some good news. Whether you need to add a new user to your account or discuss a potential business opportunity, you’ll get a dedicated Business Partner who you can call – and you’ll never have to repeat yourself.
As someone who deeply understands your sector and growing business, they’ll help you tap into new business opportunities through seamlessly connected products and services.
Have several entities under one holding company, or are you a property business looking to open accounts for new SPVs? We understand that different businesses have distinct needs, so we’ve made account opening quick and simple, even for complex scaling businesses.
Apply for a business current account faster than you can count sheep (<10 mins) and be up and running in as little as a few days – meaning you spend more time on the important things.
Set your team up for success by customising your account to suit your business needs, not the other way around. Hit snooze on overly complicated bank accounts and make your banking work for you thanks to the latest technology.
UK-regulated and here for the long haul.
We operate in the top tier of commercial banks.
All eligible deposits are protected up to £85,000.
Superior fraud detection systems and strong encryption.
When you become an OakNorth business banking customer, you can tap into new business opportunities with access to specialist structured finance designed by entrepreneurs with relentless ambition.
You’ll be front and centre of all decisions and meet key decision-makers within the bank.
Get ahead of the competition with a partner who knows how to keep pace with your business.
Our granular insights on each sector help us tailor your funding to your future.
We know that sometimes there’s a change of course, and we’ll be there to support you every step of the way.
You can apply for a business banking account with us if:
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 a tax resident in the UK (registered with HMRC), and no other countries
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. You can join the waitlist to open an OakNorth business account on our website here.
* Online banking platform coming soon. † No fees as of 4th July 2024 but subject to change. ‡ Variable rate correct as of 4th July 2024. § Virtual cards and spending limits coming soon. ****Rate correct as of 8-Jul-2024. 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.
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