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Author: g | 2025-04-25
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ANNA business accounts offer sole traders and small business owners a way to manage their finances online. These accounts offer many helpful tools that automate much of the admin associated with the smooth day-to-day running of a business, such as tax return reminders and customised invoices. Its ‘pay as you go’ account offers a range of features useful to those just starting out, without costly monthly fees and commitments. There is also the option to upgrade to paid accounts with more functionality as and when your business requires.» MORE: Compare business bank accountsOverviewOfferEligibility CriteriaMonthly Fee FreeUK Card Purchase Fees FreeUK Bank Transfer Fees 29pOffer Tax Calculation & Filing from £3 p/mEligibility CriteriaMust be a Sole Trader, Director of a Limited Company (and listed on Companies House), or a Partner in a Limited Liability PartnershipBusiness must be located within the UK and you also need to have a UK residential addressNot available to charities Review SummaryA Pay As You Go account from ANNA Money does not carry a monthly fee, but you will need to pay 29p for local bank transfers in and out. You can deposit cash into your account for a 1% fee and you cannot deposit more than £1,000 per day or £10,000 per month. Cheque deposits are not possible with ANNA Money accounts.There is no conventional overdraft on offer from ANNA, but its ANNA Credit product serves a similar purpose. Customers can access a pot of up to £10,000 and pay 3% per month interest on any funds they draw down from this pot. Accounting software from Xero and QuickBooks can be integrated with ANNA Money business accounts.ANNA Money key features:Free and paid accounts: ANNA offers the choice between a free ‘pay as you go’ account, and paid monthly accounts.24/7 customer service: ANNA offers 24/7 customer service through its mobile app.Sole traders, limited companies and LLPs: ANNA business accounts are currently available to sole traders, directors of limited companies and limited liability partnerships.Tax reminders: ANNA will send you tax reminders and estimations, so you can keep on top of your accounts. NerdWallet's Pros & ConsPros:ANNA’s ‘Pay as you go’ business current account has no monthly fee.You can open an ANNA business account in as little as three minutes.ANNA offers 24/7 customer support through its mobile app.ANNA offers other products, such as credit facilities and administrative tools.Cons:Since ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money does not accept cheques.Local bank transfers in and out cost 29p each.At £14.90 a month, ANNA’s cheapest paid account is more expensive than many competitors. See Deal This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.Learn more about how we bring you our review.Key featuresFree and paid accountsANNA offers the choice between a free ‘pay as you go’ account, and paid monthly accounts24/7 customer serviceANNA offers 24/7 customer service through its mobile appSole traders,
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NOT COVERED BY THE FSCS, that means if they go bust, there is a chance you will NOT be compensated and could lose the money in your Anna 'bank'. Anna is NOT a bank, it's an e-money institution and is not suitable for handling anyone's money. It's funny as I had been excited by their app, especially the receipts tracking and invoicing. Not worth it.Date of experience: 13 March 2025Hi MasonWe’re really sorry for the frustration this has caused, especially when it’s impacting your business. At times, for legal and regulatory reasons, payments may be randomly checked, which can lead to delays. Unfortunately, we’re unable to predict which transfers will be affected by this, but we understand how disruptive it can be.To clarify, ANNA isn’t a bank—we’re an e-money institution, which means we operate differently. When you put money in a bank, they use it to make more money by lending it out, which is why FSCS protection is in place. At ANNA, we safeguard all customer funds by keeping them completely separate from our own. We can’t use or lend out your money, so it’s always protected.This has been escalated to the team to review as soon as possible and we'll be in touch in chat soon - if you need anything we'll be there in the app 24/7Great thank you for the help ☺️Date of experience: 12 March 2025Hi Constantin 👋We're glad to hear that you got the help you needed 😊We're always here to help whenever you need it 🧡Very easy app to use and nice staffVery easy app to use!Staff in chat very nice and helpful for new Business like me.Thank you so much Anna!Date of experience: 12 March 2025Hi Vincent 👋We're glad to hear that you're enjoying the help from our team 🧡We're hear 24/7 in the app if you ever need us 😊Hi Ian 👋Thanks for sharing your kind words 🌟 We're thrilled to be part of the growing wave of modern banking alternatives 💡 ANNA is here to make your business banking easier, faster, and more efficient 24/7 💫If you ever need anything,Becoming an ANNA Introducer - ANNA Money
Went out of the room and shut the door. He locked it and went downstairs. Anna sat on the bed and cried. Downstairs, the men drank and played cards. Anna heard their voices. They were laughing. After a long time, she fell asleep. Anna woke late. The sun was shining. She looked out of the window. The waiter was sitting outside in the street. He was smoking a cigarette and reading a newspaper. Anna looked round the room. It was dirty. There was some old paper on the floor. In one corner, there was a small table with some things on it. Anna had an idea. There was a biro on the table, She took the biro and picked up a piece of paper from the floor. She wrote: Please help me. I want to go to Naira. My aunt is waiting for me there. I must a skip. I have no money. and no friends.Anna She threw the note out of the window. The waiter picked it up. He read the note. He looked up and saw her. He smiled at her and went into the hotel. Anna heard voices outside her room. Somebody unlocked the door. The waiter came in. There was somebody on the stairs behind him. It’s a policeman! thought Anna. He’s brought a policeman. She ran forward. It was Sam, He was holding her note in his hand, ’Good afternoon, Anna,’ said Sam. ’You’ve slept very late. You must be hungry. Come and have some food. We’re going soon.’ The waiter smiled at Sam. Anna understood. The waiter did not want to help her. He and Sam were friends. Anna went downstairs with Sam and They gave her some food, but she was not hungry. She did not eat or drink anything. Sam went outside into the street. Anna heard voices. Sam was talking to a man. What were they planning? Sam came inside again. ‘Come on, Anna, we must go now,’ he said. A taxi was waiting outside. Anna and Sam got in. ‘Where are we going? Anna asked. Sam looked at her. Til. Anna The Money Coach. Login Subscribe. Anna The Money Coach. Archive. Trump or Harris? Why You Should Care Financially. Anna Palomino. TMSANNA live status - ANNA Money
Limited companies and LLPsANNA business accounts are currently available to sole traders, directors of limited companies and limited liability partnershipsTax remindersANNA will send you tax reminders and estimations, so you can keep on top of your accountsProsANNA’s ‘Pay as you go’ business current account has no monthly fee.You can open an ANNA business account in as little as three minutes.ANNA offers 24/7 customer support through its mobile app.ANNA offers other products, such as credit facilities and administrative tools.ConsSince ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money does not accept cheques.Local bank transfers in and out cost 29p each.At £14.90 a month, ANNA’s cheapest paid account is more expensive than many competitors.The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.ANNA business account full reviewFounded in 2017, ANNA (or Absolutely No Nonsense Admin) offers three types of business current account, with online-only access.Yet ANNA is not a bank, but an e-money service. This means that any money held with ANNA is not protected under the Financial Services Compensation Scheme (FSCS), unlike some other digital providers and high street banks. However, under Electronic Money Regulations, ANNA must keep customers’ money in a separate bank account to its own funds and cannot use it to fund or invest in projects. ANNA aims to appeal to sole traders and small limited companies, and offers a maximum account balance of £10 million.The only difference between ANNA’s free and paid accounts is the cost per transaction. Features-wise, they are the same and include:the ability to create and send invoicesreal-time account access for your accountantsoftware integration with Xerotax reminders and estimations as you earnfree direct debitsreceipt scanningPay as you goANNA’s ‘Pay as you go’ account comes with no monthly fee. Instead, you just pay for what you use, making it suitable for businesses that only need to make infrequent use of their business bank account. While card payments in any country are free, you will pay a transaction fee per local bank transfer, international payment, ATM withdrawal, and cash deposit.BusinessANNA’s ‘Business’ account costs £14.90 a month, or £149 if billed annually. Apart from the monthly cost, the main difference between ‘Business’ and ‘Pay as you go’ is that you get free allowances for certain transactions, such as local transfers, ATM withdrawals and international payments, per month. Once these have been exhausted, you will then pay a transaction fee. Big BusinessItsANNA Accountant directory - ANNA Money
Cold. ‘We’ve passed Naira?’ she asked. ‘Yes,’ said the man. Anna thought of the journey back to Naira. How much did it cost? She did not have any money. She thought of her aunt at Naira Station. ‘Don’t worry,’ said the man. ‘I’ll help you. What’s your name?’ ‘Anna,’ she said. ‘My name is Sam,’ said the man. ‘You can trust me, Anna. ’ Anna looked at Sam again. He was very ugly. He had a long scar on his face and he looked dangerous. But he seemed kind. Was he good or bad? Anna did not know. The train began to slow down. Sam got up and looked out of the window. Anna saw a newspaper on Sam’s seat. There was a photograph on the back page. It was Sam’s photograph! Above the photograph was a headline: This man is a dangerous fighter! Now Anna was sure. Sam was a bad man, and dangerous too. He was a criminal. Anna must be careful. She must get away from him quickly. Sam left the window. ‘We’re coming into Polona now,’ he said. ‘Stay with me. I’ll help you.’ The train stopped. Anna jumped up and ran to the door. She wanted to run away. The door was very heavy. She could not open it. Sam was standing behind her. ‘I’ll open it,’ he said. At the station exit, Anna was stopped. Where is your ticket. This ticket is for Naira. I fell asleep. I pass Naira. I haven’t got any money. “I’ll pay,” said voice. It was Sam. Thank you sir. Come with me Anne. Anna wanted to run away, but she was frightened of Sam. She was tired and lost. Polona was a big town. Anna did not know anybody there. Sam called a taxi. ‘Get in, Anna,’ he said. Anna got in. ‘The Boxer Hotel,’ Sam said to the driver. The taxi went a long way. The streets of Polona were wide and busy. There were lots of cars, and shops, and people. The taxi turned into a small, dark street and stopped. Sam got out and paidCreate an ANNA account - ANNA Money
Lose your money, you might as well set it on fire – the outcome would be the same as entrusting it to this institution.Due to the severity of these issues, I have submitted a formal complaint to the Financial Conduct Authority (FCA) and will be escalating this matter further. The level of incompetence displayed by Anna Bank warrants serious scrutiny from regulators and, potentially, law enforcement.I strongly advise anyone considering Anna Bank to look elsewhere. Save yourself the frustration and financial risk.Date of experience: 14 March 2025Hi there We're really sorry to hear about your recent experience and fully understand your concerns. Providing a high standard of service is a priority for us, and we really do take your feedback seriouslyWe acknowledge that clear and consistent communication is essential, especially when managing business finances. If you’ve encountered contradictory information or delays, we’d like to investigate this further to understand where improvements can be made. Please reach out to us at support@anna.money, and we’ll ensure your concerns are reviewed right awayIf there are specific instances where you believe our processes have failed, we’d be more than happy to escalate these internally to assess whether corrective action is requiredWe truly appreciate your time in raising these issues and would like the opportunity to assist furtherFantastic Service 24 hours a day and…Fantastic Service 24 hours a day and any issue is resolved instantly. I honestly wish I had access to this service and company many many years ago. Am transferring everything from Barclays Bank so that I end up with great service which is all a client wants. . Date of experience: 20 March 2025Hi David 👋Wow, what a fantastic review—thank you so much 💛We're thrilled to hear that our 24/7 service and quick issue resolution have made such a difference for you 😊 It means a lot that you're moving everything over to ANNA—we'll make sure you continue to receive the great service you deserve 🚀✨If you ever need anything, we're always here to help 🙌Anna Money Support Team is AMAZING!Anna Money Support Team is AMAZING! Date of experience: 19 March 2025HiSage integration for ANNA - ANNA Money
Affected by this, but we understand how disruptive it can be.To clarify, ANNA isn’t a bank—we’re an e-money institution, which means we operate differently. When you put money in a bank, they use it to make more money by lending it out, which is why FSCS protection is in place. At ANNA, we safeguard all customer funds by keeping them completely separate from our own. We can’t use or lend out your money, so it’s always protected.This has been escalated to the team to review as soon as possible and we'll be in touch in chat soon - if you need anything we'll be there in the app 24/7Great thank you for the help ☺️Date of experience: 12 March 2025Hi Constantin 👋We're glad to hear that you got the help you needed 😊We're always here to help whenever you need it 🧡Very easy app to use and nice staffVery easy app to use!Staff in chat very nice and helpful for new Business like me.Thank you so much Anna!Date of experience: 12 March 2025Hi Vincent 👋We're glad to hear that you're enjoying the help from our team 🧡We're hear 24/7 in the app if you ever need us 😊Hi Ian 👋Thanks for sharing your kind words 🌟 We're thrilled to be part of the growing wave of modern banking alternatives 💡 ANNA is here to make your business banking easier, faster, and more efficient 24/7 💫If you ever need anything, feel free to reach out—we're here to help 🙌🚀Hey Martin 👋🏻Thank you so much for the fab review ⭐️ We love to see you find ANNA easy to use but as always we're here if you need us 😁It sounds like you had a great…It sounds like you had a great experience with the staff member and the e-money provider! You could say something like this:“The staff member was incredibly compassionate, showing genuine kindness and patience while assisting me. They went above and beyond to ensure my issue was resolved efficiently, making the entire experience stress-free. Their professionalism and willingness to help truly stood out, making me feel valued as a customer. This e-money provider is brilliant, offering excellent service, reliable transactions, and top-notch customer support. I highly recommend them!”?Date of experience: 11 March 2025Hi Lloyd 👋Thank you so much for your wonderful review 🥰 We're over the moon you found the team member supportive and compassionate - we take pride. Anna The Money Coach. Login Subscribe. Anna The Money Coach. Archive. Trump or Harris? Why You Should Care Financially. Anna Palomino. TMS Since ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money does
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ANNA—we'll make sure you continue to receive the great service you deserve 🚀✨If you ever need anything, we're always here to help 🙌Anna Money Support Team is AMAZING!Anna Money Support Team is AMAZING! Date of experience: 19 March 2025Hi Kacper 👋 Wow, this made our day, thanks for the amazing review 🌟 Our support team works hard to keep things smooth and stress-free, so it’s awesome to hear they’re hitting the mark 🧡 If you ever need anything, we’re always here—just a message away 24/7 🙌✨Great experience with AnnaGreat experience with Anna. Use it for business account and been with them for many years (hopefully many more to come). Great response rate from customer team. Date of experience: 19 March 2025Hi Jevgenija 👋Thank you so much for your amazing feedback 🤩 We're thrilled to have been part of your business journey for so many years - here's to many more successful years ahead 🎉🧡 It's fantastic to know that our customer support team has been able to support you whenever you've needed them. If anything ever comes up, we're just a message away and ready to help 24/7 🚀✨LexiLexi - saved a life today. I'm not going to delve into the nuances, and I'm fully sober & sane. I'll repeat. Lexi saved a life today!!!!For her managers attention. Wow, all I can say. WowDate of experience: 18 March 2025Hi Caspa 👋Thank you so much for leaving such an incredible review 💛We’re truly moved by your words and incredibly proud of Lexi for making such a profound impact ⭐️ Your appreciation means the world, and we’ll make sure this reaches her and her team 😊If there’s anything more we can do for you, please don’t hesitate to reach out. Take care 💙Never trust Anna they will suspend your…Never trust Anna they will suspend your account take your money and give you Lame excuses worse business banking in the uk there a good few others to but Anna is to avoid at all costs do not bank with this cowboy firm take cash in hand and have small less payments in accounts. Dont be fooled by banking all the timeDate of experience: 17 March 2025Hi RafWe’re sorry to hear about your experience. We understand how frustrating this must be and sincerely apologise for any impact on your businessTo comply with financial safety regulations, we may sometimes need to freeze an account. DuringANNA About us - ANNA Money
To express my sincere gratitude for the exceptional service I've received from Anna Banking. From the very beginning, your team has been incredibly supportive and approachable, making my banking experience smooth and hassle-free.Your dedication to customer service truly stands out. Whether it was answering my questions or guiding me through various processes, you've made everything so easy. I appreciate how you take the time to ensure I feel valued and understood.Thank you for your commitment to excellence. I look forward to continuing my banking journey with Anna Banking!Warm regardsJamesDate of experience: 14 March 2025Hi James 👋Wow—thank you so much for your heartfelt message 💙We’re absolutely delighted to hear that your experience with ANNA has been smooth and hassle-free 🤩 Providing exceptional service and support is at the heart of what we do, and knowing you feel valued means the world to us 💛We truly appreciate your kind words and your trust in us. If you ever need anything, we’re always here to help 🚀✨Wishing you continued success, from us all ⭐️Avoid. More like Nonsense Admin! Avoid! Should be called NA - Nonsense Admin! Repeatedly declined payments and blocked incoming payments from customers. This has meant I've been unable to receive funds from clients in a timely manner, which has delayed me in purchasing supplies (I've got a construction company), and messed with my day-to-day business activities. What's super embarrassing is their spontaneous blocking of payments, so I've been in shops purchasing materials and my card has gotten declined for no reason. They hide behind generic replies such as 'we need to follow financial regulations and meet regulatory requirements, which is a mandatory requirement across all of our accounts' which doesn't mean anything. Final most important thing is THEY ARE NOT COVERED BY THE FSCS, that means if they go bust, there is a chance you will NOT be compensated and could lose the money in your Anna 'bank'. Anna is NOT a bank, it's an e-money institution and is not suitable for handling anyone's money. It's funny as I had been excited by their app, especially the receipts tracking and invoicing. Not worth it.Date of experience: 13 March 2025Hi MasonWe’re really sorry for the frustration this has caused, especially when it’s impacting your business. At times, for legal and regulatory reasons, payments may be randomly checked, which can lead to delays. Unfortunately, we’re unable to predict which transfers will be. Anna The Money Coach. Login Subscribe. Anna The Money Coach. Archive. Trump or Harris? Why You Should Care Financially. Anna Palomino. TMS Since ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money doesANNA Get in touch - ANNA Money
Feel free to reach out—we're here to help 🙌🚀Hey Martin 👋🏻Thank you so much for the fab review ⭐️ We love to see you find ANNA easy to use but as always we're here if you need us 😁It sounds like you had a great…It sounds like you had a great experience with the staff member and the e-money provider! You could say something like this:“The staff member was incredibly compassionate, showing genuine kindness and patience while assisting me. They went above and beyond to ensure my issue was resolved efficiently, making the entire experience stress-free. Their professionalism and willingness to help truly stood out, making me feel valued as a customer. This e-money provider is brilliant, offering excellent service, reliable transactions, and top-notch customer support. I highly recommend them!”?Date of experience: 11 March 2025Hi Lloyd 👋Thank you so much for your wonderful review 🥰 We're over the moon you found the team member supportive and compassionate - we take pride in our customer service at ANNA and we love it when our customers feel valued 🙌 We really appreciate the kind words you've shared about both the team and the service we provide and we're here in the app 24/7 should you need anything else 🚀Their acronym should be Absolutely NoNsense Accounting"Absolutely No Nonsense Accounting" is the name of this platform/app.However off the gate, they asked me for a bunch of confidential information in order to release the funds send by my client.A thing that hardly any bank does with a sub £50k transfer, and I have experience with this.They are just wasting people's times and charging a subscription when their service is subpar.I ended up requesting them to cancel the transaction and opted to go with my traditional bank instead.A pity because I had to request my customer to see whether they received a refund of the money they had sent me and requested them to send again.Date of experience: 10 March 2025Hi MartinSorry to hear that your experience with ANNA has't been a positive oneAt ANNA, we need to follow financial regulations and meet regulatory requirements, whichComments
ANNA business accounts offer sole traders and small business owners a way to manage their finances online. These accounts offer many helpful tools that automate much of the admin associated with the smooth day-to-day running of a business, such as tax return reminders and customised invoices. Its ‘pay as you go’ account offers a range of features useful to those just starting out, without costly monthly fees and commitments. There is also the option to upgrade to paid accounts with more functionality as and when your business requires.» MORE: Compare business bank accountsOverviewOfferEligibility CriteriaMonthly Fee FreeUK Card Purchase Fees FreeUK Bank Transfer Fees 29pOffer Tax Calculation & Filing from £3 p/mEligibility CriteriaMust be a Sole Trader, Director of a Limited Company (and listed on Companies House), or a Partner in a Limited Liability PartnershipBusiness must be located within the UK and you also need to have a UK residential addressNot available to charities Review SummaryA Pay As You Go account from ANNA Money does not carry a monthly fee, but you will need to pay 29p for local bank transfers in and out. You can deposit cash into your account for a 1% fee and you cannot deposit more than £1,000 per day or £10,000 per month. Cheque deposits are not possible with ANNA Money accounts.There is no conventional overdraft on offer from ANNA, but its ANNA Credit product serves a similar purpose. Customers can access a pot of up to £10,000 and pay 3% per month interest on any funds they draw down from this pot. Accounting software from Xero and QuickBooks can be integrated with ANNA Money business accounts.ANNA Money key features:Free and paid accounts: ANNA offers the choice between a free ‘pay as you go’ account, and paid monthly accounts.24/7 customer service: ANNA offers 24/7 customer service through its mobile app.Sole traders, limited companies and LLPs: ANNA business accounts are currently available to sole traders, directors of limited companies and limited liability partnerships.Tax reminders: ANNA will send you tax reminders and estimations, so you can keep on top of your accounts. NerdWallet's Pros & ConsPros:ANNA’s ‘Pay as you go’ business current account has no monthly fee.You can open an ANNA business account in as little as three minutes.ANNA offers 24/7 customer support through its mobile app.ANNA offers other products, such as credit facilities and administrative tools.Cons:Since ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money does not accept cheques.Local bank transfers in and out cost 29p each.At £14.90 a month, ANNA’s cheapest paid account is more expensive than many competitors. See Deal This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.Learn more about how we bring you our review.Key featuresFree and paid accountsANNA offers the choice between a free ‘pay as you go’ account, and paid monthly accounts24/7 customer serviceANNA offers 24/7 customer service through its mobile appSole traders,
2025-04-16NOT COVERED BY THE FSCS, that means if they go bust, there is a chance you will NOT be compensated and could lose the money in your Anna 'bank'. Anna is NOT a bank, it's an e-money institution and is not suitable for handling anyone's money. It's funny as I had been excited by their app, especially the receipts tracking and invoicing. Not worth it.Date of experience: 13 March 2025Hi MasonWe’re really sorry for the frustration this has caused, especially when it’s impacting your business. At times, for legal and regulatory reasons, payments may be randomly checked, which can lead to delays. Unfortunately, we’re unable to predict which transfers will be affected by this, but we understand how disruptive it can be.To clarify, ANNA isn’t a bank—we’re an e-money institution, which means we operate differently. When you put money in a bank, they use it to make more money by lending it out, which is why FSCS protection is in place. At ANNA, we safeguard all customer funds by keeping them completely separate from our own. We can’t use or lend out your money, so it’s always protected.This has been escalated to the team to review as soon as possible and we'll be in touch in chat soon - if you need anything we'll be there in the app 24/7Great thank you for the help ☺️Date of experience: 12 March 2025Hi Constantin 👋We're glad to hear that you got the help you needed 😊We're always here to help whenever you need it 🧡Very easy app to use and nice staffVery easy app to use!Staff in chat very nice and helpful for new Business like me.Thank you so much Anna!Date of experience: 12 March 2025Hi Vincent 👋We're glad to hear that you're enjoying the help from our team 🧡We're hear 24/7 in the app if you ever need us 😊Hi Ian 👋Thanks for sharing your kind words 🌟 We're thrilled to be part of the growing wave of modern banking alternatives 💡 ANNA is here to make your business banking easier, faster, and more efficient 24/7 💫If you ever need anything,
2025-04-22Limited companies and LLPsANNA business accounts are currently available to sole traders, directors of limited companies and limited liability partnershipsTax remindersANNA will send you tax reminders and estimations, so you can keep on top of your accountsProsANNA’s ‘Pay as you go’ business current account has no monthly fee.You can open an ANNA business account in as little as three minutes.ANNA offers 24/7 customer support through its mobile app.ANNA offers other products, such as credit facilities and administrative tools.ConsSince ANNA Money is an e-money account, and not a bank account, your money is not protected by the Financial Services Compensation Scheme (FSCS). ANNA Money does not accept cheques.Local bank transfers in and out cost 29p each.At £14.90 a month, ANNA’s cheapest paid account is more expensive than many competitors.The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.ANNA business account full reviewFounded in 2017, ANNA (or Absolutely No Nonsense Admin) offers three types of business current account, with online-only access.Yet ANNA is not a bank, but an e-money service. This means that any money held with ANNA is not protected under the Financial Services Compensation Scheme (FSCS), unlike some other digital providers and high street banks. However, under Electronic Money Regulations, ANNA must keep customers’ money in a separate bank account to its own funds and cannot use it to fund or invest in projects. ANNA aims to appeal to sole traders and small limited companies, and offers a maximum account balance of £10 million.The only difference between ANNA’s free and paid accounts is the cost per transaction. Features-wise, they are the same and include:the ability to create and send invoicesreal-time account access for your accountantsoftware integration with Xerotax reminders and estimations as you earnfree direct debitsreceipt scanningPay as you goANNA’s ‘Pay as you go’ account comes with no monthly fee. Instead, you just pay for what you use, making it suitable for businesses that only need to make infrequent use of their business bank account. While card payments in any country are free, you will pay a transaction fee per local bank transfer, international payment, ATM withdrawal, and cash deposit.BusinessANNA’s ‘Business’ account costs £14.90 a month, or £149 if billed annually. Apart from the monthly cost, the main difference between ‘Business’ and ‘Pay as you go’ is that you get free allowances for certain transactions, such as local transfers, ATM withdrawals and international payments, per month. Once these have been exhausted, you will then pay a transaction fee. Big BusinessIts
2025-03-28