ANNA offers an Android/iOS app based business current account for UK businesses. Accounts can potentially be opened within a few minutes and you will receive a debit business Mastercard within 5 days.
The ANNA business account is a simple business bank account for UK residents with a UK registered small business who are over 18. It is suitable for those who may not be able to obtain a high street bank business account.
There is an introductory free period and then a charging structure of between £0 and £19.90 per month depending on the size and requirements of your business.
It is ideal for businesses who require a simple current business account to pay funds in and out of without any credit facilities. Direct Debits and Standing Orders are also provided.
Another advantage of this type of account is that there is no requirement to produce a business plan.
There are no credit checks for this business current account and it is guaranteed if suitable personal ID and proof of the business can be provided. There are, however, some restrictions on the type of business that it can be used for.
No interest is paid on the account balance.
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What the ANNA Business Current Account offers:
- ANNA business debit Mastercard. Receive in around 5 days. Virtual debit cards are also available.
- No credit checks.
- Ideal for undischarged bankrupts or those in an IVA.
- Guaranteed acceptance (subject to UK business and identity checks).
- Free for first 6 months.
- Ideal for small businesses, startups and sole traders.
- Can connect to other personal and business accounts.
- Can be opened in as little as 10 minutes.
- No transaction fees.
- Unlimited free transfers within ANNA.
- Every ANNA plan has some free money transfers and ATM withdrawals included.
- No ATM fees depending on level of account chosen.
- Free transfers depending on level of account chosen.
- Free Direct Debits.
- Free Standing Orders.
- 1% cashback on some purchases.
- 24/7 support. Live chat.
- Monthly charge of between £0 and £19.90 per month depending on business requirements after introductory free period.
- No cheque book.
- No overdraft.
Some of the fees for this ANNA Business Current Account include:
Opening cost – Free.
Monthly fees dependent upon level of turnover:
Monthly fee £0.00: Monthly income less than £500. Max balance £5000. Free ATM withdrawals up to £100 per month. 2 free transfers per month. Up to 2 debit cards.
Monthly fee £4.90: Monthly income between £500 and £2000. Max balance £25,000. Free ATM withdrawals up to £300 per month. 4 free transfers per month. Up to 3 debit cards.
Monthly fee £9.90: Monthly income between £2000 and £20,000. Max balance £120,000. Free ATM withdrawals up to £2000 per month. 35 free transfers per month. Up to 5 debit cards.
Monthly fee £19.90: Monthly income between £20,000 and £500,000. Max balance £700,000. Free ATM withdrawals up to £10,000 per month. Unlimited transfers per month. Unlimited debit cards.
Debit Mastercard(s) – Free.
Account management – Free.