ANNA Money Business Banking

About ANNA Money

ANNA Money, which stands for Absolutely-No-Nonsense-Admin, is an online banking app that aims to bring businesses a better solution to banking with a business account and advanced invoicing in one. Their accounts are app-based and can be opened in just a matter of minutes, meaning you can start to organise your businesses finances as soon as possible.

See our full ANNA Money business account review and see how they compare with other digital business bank account providers.

ANNA Money pros & cons

Pros of ANNA

• Low fees & Pay-as-you-go option
• Register your business for free
• Save more with annual subscriptions
• Quick & easy to set up, fully online
• Free card purchases & cashback
• Calculate VAT returns & submit directly to HMRC

Cons of ANNA

• Deposits are not protected by the FSCS
• No credit or overdraft facilities available
• Expensive for international transactions
• No third party accounting integration

ANNA Money business accounts

ANNA has three different business account plans available to choose from, they are:

• Pay As You Go - businesses can benefit from free banking with no monthly fees but will have to pay for local payments in and out (20p) and for ATM withdrawals (£1).
• Business - ANNA calls it the best plan for business, it costs £14.90, plus VAT, and comes with 50 free transfers and 3 free withdrawals per month.
• Big Business - the most expensive plan at £49.90, plus VAT. Free and unlimited transactions are available with this plan.

Here is a summary of ANNA's business account fees:

Eligibility

To be eligible for a ANNA business account you must:

• Be a sole trader or registered business
• Be a UK resident (all owners must be UK residents, if applicable)
• Be a UK-based business
• Be 18 or over
• Have an Android or iOS device
• Have a UK phone number

Opening an account

Here's how to open an ANNA business account:

1. Download ANNA Money's app from the App Store or Google Play
2. Complete their digital application with no credit checks - ANNA will confirm your eligibility
3. Verify your ID - you'll need to upload a picture ID and a video of yourself
4. Once approved (usually same day), you can start banking

ANNA Money reviews

ANNA Money is rated excellent on Trustpilot with 4.5 stars, from over 3,100 reviews, with 85% giving them 5 stars.

The ANNA app gets 4.4 stars on the App Store based on nearly 900 ratings.

Though ANNA only have 3.9 stars on Google Play, from over 1,300 reviews.

Information correct as of 9th September 2024.

Frequently asked questions

It's not uncommon to have questions when looking in to business banking, especially for the first time. These are some of the most relevant questions for ANNA Money: