Good Bank Account for Side-hustle? - Must Be Free!

tekton23

Hi,

I have started to earn small sums from a side-hustle (paid writing work and affiliate marketing). I'd like the payments to be made to a separate bank account to my main personal account, so that accounts at the end of the year are easy. What's the best option currently available? I am looking for a free option and don't want to pay any fees, as my earnings here are currently low, but hopefully growing!

I currently bank with First Direct and Natwest. Thanks,

T23

eskbanker

https://www.moneysavingexpert.com/banking/business-bank-account/#which

Eyeful

Have a look here:
https://www.comparebanks.co.uk/business/best-free-business-bank-accounts/
https://www.bestbusiness.co.uk/free-business-banking/

penners324

Starling, Monzo, Virgin Money to name just 3

zedonk

I have a Monzo business account for my side hustle and I'm very happy with it. 

cronzo95

Careful with companies like monzo, they let anyone quickly open an account and have a much higher rate of disabling at the drop of a hat. Apparently they don't check much when opening, but do checks when algorithms flag anything suspect. 

eskbanker

cronzo95 said:

Careful with companies like monzo, they let anyone quickly open an account and have a much higher rate of disabling at the drop of a hat. Apparently they don't check much when opening, but do checks when algorithms flag anything suspect. 

What actual quantifiable evidence do you cite for that claim, i.e. excluding anecdotal stuff on review sites, social media, forums like this, etc?

jadex

Revolut PRO

cronzo95

eskbanker said:

cronzo95 said:

Careful with companies like monzo, they let anyone quickly open an account and have a much higher rate of disabling at the drop of a hat. Apparently they don't check much when opening, but do checks when algorithms flag anything suspect. 

What actual quantifiable evidence do you cite for that claim, i.e. excluding anecdotal stuff on review sites, social media, forums like this, etc?

There's lots of articles about neobanks facing more scrutiny vs old banks due to their new business models that have had a lot of compliance failures that they're grappling with solving. 

eskbanker

cronzo95 said:

eskbanker said:

cronzo95 said:

Careful with companies like monzo, they let anyone quickly open an account and have a much higher rate of disabling at the drop of a hat. Apparently they don't check much when opening, but do checks when algorithms flag anything suspect. 

What actual quantifiable evidence do you cite for that claim, i.e. excluding anecdotal stuff on review sites, social media, forums like this, etc?

There's lots of articles about neobanks facing more scrutiny vs old banks due to their new business models that have had a lot of compliance failures that they're grappling with solving. 

Perhaps, but that doesn't answer the question....

wiseonesomeofthetime

eskbanker said:

cronzo95 said:

eskbanker said:

cronzo95 said:

Careful with companies like monzo, they let anyone quickly open an account and have a much higher rate of disabling at the drop of a hat. Apparently they don't check much when opening, but do checks when algorithms flag anything suspect. 

What actual quantifiable evidence do you cite for that claim, i.e. excluding anecdotal stuff on review sites, social media, forums like this, etc?

There's lots of articles about neobanks facing more scrutiny vs old banks due to their new business models that have had a lot of compliance failures that they're grappling with solving. 

Perhaps, but that doesn't answer the question....

Probably more because he's the OP in the latest Monzo blocked my account thread.