Full-speed business banking. Without the bank.

No, SumUp is not a bank. We are a leading financial services provider and an authorised electronic money institution, regulated in the UK by the Financial Conduct Authority (licence no. 900700). This allows us to issue secure e-money accounts with account numbers, sort codes, and Mastercards for your small business.

Your funds are safeguarded, not FSCS-protected. Unlike banks, we don’t lend or reinvest your money. Instead, we keep it in dedicated safeguarding accounts, separate from SumUp’s own funds. This means your money is protected against any eventuality, ensuring security and flexibility while reducing paperwork and offering better protection against fraud.

The SumUp Business Account is a business account that helps you take payments and manage your money in one place. Designed to scale with your business, SumUp caters to the business needs of start ups and small businesses as well as enterprises.

If you run a limited company, yes. You’re legally required to open a business account because your company is a separate legal entity.

If you’re a sole trader or freelancer, it’s not legally required. However, many banks don’t allow business transactions through a personal account, so opening a business account is usually the safer and more practical option.

You can usually set up a SumUp Business Account in less than 10 minutes. Once you’ve signed up and verified your identity, your account number and sort code are ready to use straight away, so you can add money and make transfers immediately.

In rare cases, verification may take longer if your ID photo is unclear or your address details don’t match your documents.

Yes. There are no fees to open your business account, nor to send and receive money or set up and use Direct Debits. You get a business account with essential business banking features, plus a free business Mastercard.

The only fees apply to certain withdrawals and cash deposits. If you exceed your monthly free withdrawal allowance or make withdrawals abroad, a 2% fee applies. Cash deposits are subject to a 2.5% fee of the deposit amount.

Yes. Sole traders, freelancers and start-ups can open a free SumUp Business Account online in minutes. With no upfront fees and no minimum balance.

Yes. The SumUp Business Account is a great fit for small businesses, offering next-day payouts, simple money management and no monthly fees. It’s also flexible enough to support you as your business grows, so you’re not locked into tools you’ll outgrow.

Yes. You can receive payouts, make instant transfers, pay with your free business card, manage expenses and export transactions - all from one business account.

You can add money to your SumUp Business Account by bank transfer or standing order. Once the funds arrive, you can start making payments and transfers straight away - even before your business card arrives.

To find your account number and sort code, open the SumUp app, tap “Account” on the home screen, go to settings, and select “Account details”. You can also log in on your computer, open the “Business Account” tab in your profile, and view your account information there.

For more details, visit our Support Centre.

Yes. Transaction limits apply to your SumUp Business Account to help protect your money if your card is lost or stolen. If you’d like to request a change to your limits, you can contact our Support Team.

For card payments in shops and online, the limit is £15,000 per payment and £15,000 per day.

For cash withdrawals, the limit is £500 per withdrawal and £2,000 per day.

For outgoing transfers from your business account, you can send up to £25,000 per transfer, £50,000 per day and £150,000 per month.

There are no limits on incoming transfers.

If you use our payment tools, activating your SumUp Business Account is the quickest way to access your money. When you take payments with a SumUp card reader or Tap to Pay, your earnings will reach your business account the following day—even on weekends and bank holidays. Payouts into all other accounts take 1-3 business days.

The SumUp Business Account supports your cash flow with guaranteed next-day payouts, instant and free transfers and fast cash deposits.

Managing your money is simple with our free business account. Transactions are automatically sorted into customisable categories, with key details pre-filled to reduce manual work. You can track spending by category, monitor VAT within your expenses, and upload receipt photos to store them digitally. When it’s time for tax prep, you can download your expenses as a CSV file or give your accountant access to manage invoices and expenses for you.

Your money is protected at all times with the SumUp Business Account.

We’re authorised and regulated by the Financial Conduct Authority (FCA) in the UK. As an authorised electronic money institution, we follow strict regulatory standards.

Your funds are safeguarded in segregated accounts, separate from our own. That means your money is protected and always available to you.

We also use 3D Secure technology for online payments. When you pay with your SumUp Mastercard, you’ll receive a notification on your phone to verify the transaction.