What is a sole trader bank account?
A sole trader bank account is a business account for sole traders. If you are a freelancer or self-employed – meaning you’re solely responsible for your business’s success, and haven’t set up a limited company for your work – then you’re a sole trader. This means you could benefit from a sole trader bank account.
Many banking providers allow sole traders to open standard business bank accounts, which offer features such as:
- first (bank transfers)
- cash deposits
- overdraft facilities
- accounting software integration
- dedicated help and support