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Switching Business Bank Account

Switch your business bank account to Unity and you’ll benefit from a truly personal service from our UK customer service team.

Unity is a specialist business bank with over 35 years’ experience of providing safe and sustainable banking. Our business current accounts give you all you need to control your finances. Banking with Unity helps to create a better society – your deposits fund lending which delivers community, economic or environmental change.

Why choose Unity?

  • Open and pay into your account typically in one working day1

  • Calls answered within 15 seconds by a person who can help, not an automated service2

  • Over 95% of calls are dealt with by the first person you speak to3

  • Secure online banking with single, dual or triple payment authorisation

  • Bank at your local NatWest, RBS and Ulster Bank branches or in over 11,500 Post Offices4

  • MultiPay card available, giving you more control of cardholder spend than with a debit card5

  1. Between 1 May 2020 and 31 October 2020, 84% of new current accounts were opened on the same day. This figure is based on the time taken from Unity receiving all the information and documents we ask for at https://apply.unity.co.uk.
  2. Between 1 May 2020 and 31 October 2020, the average call answering time was 12 seconds.
  3. Between 1 May 2020 and 31 October 2020, average first call resolution was 99%.
  4. Pay in cash & cheques at your local NatWest, RBS and Ulster Bank branches, and pay in cash at Post Offices.
  5. MultiPay card is subject to credit approval. New customers will need to provide us with the last 2 years of audited/certified financial accounts when applying. We do not offer a debit card for our current accounts.

Business current accounts

Select your annual turnover below to see which Unity current account is suitable for you.

Switching made simple

Switch your business bank account to Unity in seven working days with the Current Account Switch Service.

Simply tell us if you would like to transfer and close your current bank accounts when applying online for a Unity current account.

When your Unity account is open, your dedicated named contact will call you to arrange the switch and agree the date.

  • We’ll contact your existing banks for you
  • We’ll set up all of your regular payments
  • We’ll transfer any remaining balances and close your old accounts
  • You’ll be covered by the Current Account Switch Guarantee the whole way through.

Straightforward business banking

Transparent, competitive pricing

Our simple pricing structure ensures that you know exactly what you’re paying and when. View service tariffs

What do I need to open an account?

If you’re ready to get started, it’s easier if you have the all the documents to hand. This guide from UK Finance tells you all you need to know. Read more

Choose your Unity Business Current Account

Select your annual turnover below to choose the right account for you:

  • Under £100k

    Unity Current Account

    Product Information

    • Account management: UK customer service centre and internet banking
    • Fee: £6 per month
    • Charged: Quarterly
    • Opening deposit: Minimum £500
    • Interest: No credit interest paid
  • £100k to £2m

    Unity Current Account

    Product Information

    • Account management: UK customer service centre or Relationship Manager and internet banking
    • Fee: £6 per month plus 15p per individual credit and debit transaction
    • Charged: Quarterly
    • Opening deposit: Minimum £500
    • Interest: No credit interest paid
  • Above £2m

    Unity Custom Account

    Product Information

    • Account management: UK customer service centre or Relationship Manager and internet banking
    • Fee: Negotiated terms
    • Charged: Negotiated terms
    • Opening deposit: Minimum £500
    • Interest: No credit interest paid

How do I switch accounts?

Frequently Asked Questions

  • Is my business or organisation eligible for the Current Account Switch Service?

    You can use the Current Account Switch Service if your organisation is:

    • An SME (any business type other than a charity or trust) with a turnover of less than or equal to £6.5 million with fewer than 50 employees.
    • A charity with an annual income of less than £6.5 million.
    • A trust with a net asset value of less than £6.5 million.

    Your current bank must also be signed up to the Current Account Switch Service

  • How long does it take to switch business bank account to Unity Trust Bank?

    Once you have opened your new Unity business current account, we will call you to discuss the switch. You will need to complete and return the Current Account Switch Agreement and the Current Account Closure Instruction Form. Once we have received and reviewed these documents, we will call you to arrange a switching date – this is typically within seven working days.

    Please note that the Current Account Switch Agreement and the Current Account Closure Instruction Form must be signed in accordance with your old bank mandate and the signatories that sign the forms must also be on your new account with Unity Trust Bank.

    Your correspondence address with your existing bank must also match the correspondence address on your Unity account.

  • What if I change my mind?

    You can cancel your switch up to seven working days before your switch date. If you do want to cancel, speak to your new bank, who can guide you through this process.

  • What happens to any debit card transactions or Direct Debits that I have asked my old bank to stop?

    The Current Account Switch Service will not interfere with this process and any debit card or Direct Debit transactions that you have asked your bank to stop should remain stopped after you switch.

  • What happens if I need to pay existing overdraft or charges to my existing bank?

    We can arrange a payment to your old bank (up to a maximum limit agreed with you) to cover any existing overdraft or charges, as long as you have enough money in your new Unity account.

    If you’re overdrawn when you switch business bank account, we may be able to help you pay this off (subject to our lending criteria).

  • Will I have to pay any fees on my old account?

    Charges (including debit interest) and fees may be applied to your old account, without giving you the usual notice. To find out more, please contact your old bank.

  • What happens if I don’t want to close my old account?

    If you’d like to keep your old account open and manage your balance transfer, then a ‘partial switch’ could be right for you.

    • All agreed Direct Debits and regular payments will be set up for you.
    • Switching this way may take up to 20 working days to complete but we can keep you informed by phone or email throughout – all we need is your contact number or email address.
    • You’ll need to arrange for any payments going into your account to be transferred.
    • You’ll need to keep money in both your old and new account to cover any payments as this service does not offer automatic redirection.
    • You’ll need to contact any companies that haven’t updated their records so future payments are taken from your Unity current account.

    The Current Account Switch Guarantee, the Current Account Switch Agreement and the Current Account Closure Instruction don’t apply to a partial switch.

  • What if my business doesn’t meet these criteria or I prefer not to use the Current Account Switch Service?

    In some cases, your business may not be eligible to use the Current Account Switch Service, your current bank may not be a member of the service, or you may prefer not to use it. Or perhaps you have another type of account which you’d like to switch. You can still move your account to us, but your switch won’t be covered by the Current Account Switch Guarantee.

    If any of the above scenarios apply, please print, complete and sign the Account Transfer request form and return it to us. Once we’ve received this information, we’ll begin the switching process.

    Download transfer request form

Still got a question?

View the full Current Account Switch Service FAQs.

Read more