Review · checked 25 October 2026
ANNA review: is the ANNA business account right for you?
ANNA Money is an app-based business account with built-in invoicing and tax tools, aimed at sole traders, freelancers and small companies. This ANNA review explains what each plan costs, how your money is held, what the account does well and where it falls short.
Our verdict
Good fit if you
- want invoicing, receipt capture and tax filing help in the same app as your account
- make lots of outgoing transfers but want a £0 plan
- are a sole trader or small company getting ready for Making Tax Digital
- like support by chat at any hour
Look elsewhere if you
- want your main balance covered by the FSCS
- receive more than £1,000 a month on the Free plan and don't want a 0.95% charge
- need to speak to someone by phone
- run a crypto or gambling business
Thinking about an ANNA business account? Check the current introductory offer on ANNA's site before you apply, as its pages describe it in different ways.
Visit ANNA MoneyANNA Money is a partner: we may earn commission if you open an account through our links. It doesn't change our assessment. Disclosure
Most business accounts give you somewhere to hold money and a card. The ANNA business account tries to do more: it creates and chases invoices, stores receipts and can file some of your tax returns. In this ANNA review we look at whether that extra help is worth it, and at the costs behind the £0 headline, using ANNA's own pricing pages and terms.
ANNA at a glance
| Provider | ANNA Money is a trading name of Absolutely No Nonsense Admin Ltd, company number 10149389 |
|---|---|
| Account provider and regulator status | The e-money account and cards are provided by PayrNet Limited, an FCA-authorised Electronic Money Institution (FRN 900594). ANNA is not a bank |
| Protection | Main account funds are safeguarded, not covered by the FSCS. Savings with partner Griffin Bank are FSCS-eligible up to £120,000 per depositor |
| Monthly fee | £0 on Free; Grow £12.90 + VAT; Business £22.90 + VAT; Big Business £59.90 + VAT |
| Who can apply | UK residents aged 18 or over who are not US persons for tax. Sole traders, partnerships, limited companies, LLPs, trusts and not-for-profits in the UK |
| How to open | Online or in the ANNA app |
| Support | 24/7 in-app chat and email. We didn't find a phone line |
Plans and fees
The ANNA business account comes in four plans. All include a business account, a Mastercard debit card, free Direct Debits and free Making Tax Digital filing for Income Tax. Paid plan prices are shown plus VAT. The main differences are transfer allowances, cards, cash machine charges and international fees.
| Plan | Monthly fee | Outgoing transfers | Cards | ATM withdrawals | FX on transfers |
|---|---|---|---|---|---|
| Free | £0 | Unlimited | 1 card plus unlimited free expense cards | Free | 1% |
| Grow | £12.90 + VAT | 15 free, then 27p each | 2 included, extra expense cards £5 each a month | 1.5% (min £1) | 1% |
| Business | £22.90 + VAT | 60 free, then 20p each | 5 included, extra cards £3 each a month | 3 free, then 1% (min £1) | 1% |
| Big Business | £59.90 + VAT | Unlimited | Unlimited | Free | 0.5% |
One thing stands out in our ANNA review. The Free plan has unlimited outgoing transfers and free cash machine use, while Grow and Business charge for both above an allowance. What Free charges for is money coming in: the first £1,000 of incoming payments each month is free, then ANNA takes 0.95%.
| Item | Free | Grow | Business | Big Business |
|---|---|---|---|---|
| Incoming payments | First £1,000 a month free, then 0.95% | Not listed | Not listed | Not listed |
| SWIFT payments | Not listed | £5 | 2 free, then £5 | 4 free, then £5 |
| Payment links | Not listed | 1% | Free up to £200 a month, then 0.5% | No commission |
| Direct Debits | Free | Free | Free | Free |
| VAT return filing | £4.50 + VAT each | £4.50 + VAT each | £4.50 + VAT each | £4.50 + VAT each |
Quiet months: ANNA's pricing page says that if you don't use your ANNA business account for a month, you don't pay the monthly fee for that month.
Auto Accountant: ANNA's tax filing service is free for the first four months on every plan, then £29 a month on Free and Grow. ANNA doesn't publish the later price for Business and Big Business, so ask before you rely on it.
Not on the pricing pages: the fee for card spending in foreign currency and how many team members each plan allows. This ANNA review couldn't confirm either, so check both with ANNA if they matter to you.
Partner: we may earn commission if you open an ANNA business account through this link. Disclosure
Features
The admin tools are the main reason to choose ANNA. Here's what the ANNA business account includes.
Invoicing
Create and send invoices, and let ANNA chase the overdue ones for you.
Receipts
Snap receipts so your records match your spending.
Getting paid
Payment links and QR codes, plus a card machine partnership with Dojo.
Tax
Auto Accountant covers Self Assessment under Making Tax Digital, VAT, Corporation Tax and payroll.
Savings
A savings account with Griffin Bank, with a promotional rate of up to 3.66% AER for the first three months.
Funding
Revenue-based funding of up to £2m through YouLend, subject to approval.
Every ANNA business account comes with a virtual card as soon as you sign up and a physical Mastercard by post. Apple Pay and Google Pay are supported. ANNA also offers cashback of up to 40% on over 150 products and services. After the promotional period, the savings rate depends on your plan, so check the rate for your plan before moving money.
ANNA says it is "fully ready for Making Tax Digital for Income Tax", and MTD filing for Income Tax is free on every plan. For a sole trader facing quarterly updates, that is one of the strongest points in this ANNA review.
Is ANNA safe?
ANNA is not a bank. The ANNA business account is an e-money account provided by PayrNet Limited, which is authorised by the FCA as an Electronic Money Institution. ANNA says main account funds are "safeguarded under EMR 2011 and are not covered by the FSCS".
Safeguarding means PayrNet must keep your money separate from its own funds. If it fails, that money should be returned to customers, but it isn't the same as FSCS protection, which pays out up to £120,000 if a bank fails. Our guide to bank vs e-money accounts explains the difference in plain terms.
Savings work differently. ANNA's savings partner is Griffin Bank Ltd (FRN 970920), and ANNA says savings deposits are FSCS-eligible up to £120,000 per depositor. If you hold large balances and want FSCS cover, keep the surplus in savings or with a bank rather than in the ANNA business account itself.
Cash and international payments
Cash: you pay cash into an ANNA business account at PayPoint stores using a barcode from the app. ANNA has said cash deposits cost 1% per deposit, with some free deposits on Business and Big Business, and limits of £1,000 a day and £10,000 a month. That comes from an ANNA news post rather than its fee table, so confirm the charge with ANNA if you handle a lot of cash. We found no mention of Post Office deposits or cheques.
CHAPS: ANNA's pricing page lists CHAPS by plan (incoming only on Free, £5 on Grow, 2 free then £5 on Business, unlimited on Big Business). Its terms, however, say it does not support CHAPS. The two pages differ, so check with ANNA before you plan a same-day payment such as a property deposit.
International: outbound international payments go through Currency Cloud and can take up to 5 business days. Foreign currency payments in arrive by SWIFT and SEPA only. On the ANNA business account, converting currency costs 1% on Free, Grow and Business, and 0.5% on Big Business.
Limits: ANNA's terms set a maximum balance of £10,000,000 and a maximum single outbound payment of £250,000. Faster Payments, BACS and Direct Debits are capped at £30,000 per payment, £50,000 a day and £200,000 a month. Card and ATM limits also apply.
Who the ANNA business account suits
Sole trader or freelancer
Good fit if you want invoicing and Making Tax Digital help in one place. Watch the 0.95% charge on income above £1,000 a month on Free.
Small limited company
Worth a look if you want help with VAT and Corporation Tax. Compare the Auto Accountant cost with your current accountant.
Business paying many suppliers
The Free plan's unlimited outgoing transfers help. On Grow you get 15 free transfers a month, so do the maths before upgrading.
Cash-heavy business
Possible via PayPoint, but daily and monthly cash limits apply. Check the current cash fee first.
Business with large balances
Think carefully. The ANNA business account is safeguarded, not FSCS-protected.
Crypto or gambling business
Not a fit. ANNA doesn't accept these businesses.
Opening an account
ANNA says you can open an ANNA business account online in minutes. Treat that as a rough guide rather than a promise.
- 1
Check you're eligible
You must be a UK resident aged 18 or over and not a US person for tax. Anyone with access to the ANNA business account must also be 18 or over and live in the UK. There's no minimum turnover.
- 2
Apply online or in the app
Choose your plan and enter your business details. Limited companies need their name registered at Companies House.
- 3
Verify your identity
Have a full driving licence or passport ready, plus proof of address dated within the last three months, such as a utility bill, council tax bill or bank statement.
- 4
Start using your card
You get a virtual card straight away. ANNA's pages give a physical card delivery time of between 2 and 4 days.
We didn't find any mention of the Current Account Switch Service on ANNA's pages, so plan to move your Direct Debits and payment details to your ANNA business account yourself.
Limitations to know about
Pros
- £0 plan with unlimited outgoing transfers
- Invoicing, receipts and tax tools built in
- Free MTD filing for Income Tax on every plan
- 24/7 chat support
- No monthly fee in months you don't use the account
Cons
- Main account not covered by the FSCS
- 0.95% charge on income over £1,000 a month on Free
- No phone support found
- Mixed information on CHAPS
- Crypto and gambling businesses excluded
One more point for this ANNA review. ANNA's terms mention a monthly inactivity fee, which reads differently from the pricing page's promise that you don't pay in months you don't use the account. If you expect long quiet spells, ask ANNA how the two fit together.
ANNA vs Tide
Tide is our featured partner, so we've kept this comparison to published facts. The ANNA business account and Tide are both app-based accounts with no-fee plans and built-in admin tools, but they differ on protection, transfers and cash.
| Feature | ANNA Free | Tide Free |
|---|---|---|
| Monthly fee | £0 | £0 |
| Paid plans | £12.90, £22.90 and £59.90 + VAT | £12.49, £27.49 and £69.99 |
| Outgoing UK transfers | Unlimited | 5 a month |
| Card payments abroad | Check with ANNA | 2.75% FX fee |
| Cash deposits | PayPoint | Yes, fees apply |
| Cheque deposits | Not mentioned | Yes |
| Protection | E-money, safeguarded | FSCS up to £120,000 via ClearBank (some older accounts safeguarded) |
| Company registration | Not offered | £14.99 including an account |
On the facts in this ANNA review, ANNA has the edge if you make a lot of outgoing payments on a free plan, or want help filing tax returns. Tide may suit you better if you want FSCS cover on your main balance, need to deposit cheques, or want to register a company and open an account together. Read our full Tide review or the guide is Tide safe? for more.
New Tide members can use code STARTUP200 for up to £200: £75 after spending £100 on the Tide card within 30 days, plus £125 for paying £5,000 into a Tide Instant Saver within 7 days of opening and keeping it there for 30 days*. *T&Cs apply See our Tide promo code page for how it works.
Alternatives to ANNA
No single account suits every business. If this ANNA review suggests ANNA isn't right for you, these are worth comparing:
- Want a full bank: Zempler Bank and Starling are UK banks, so eligible deposits are FSCS-protected.
- Want another app-based account: read our Mettle review and Monzo Business review.
- Trade in several currencies: look at Wise Business and Revolut Business.
You can also compare business bank accounts side by side on fees, protection and cash deposits.
If you're leaning towards Tide instead, new Tide members can claim up to £200 cashback with our Tide promo code, subject to card spending and savings conditions*. *T&Cs apply
Partner: we may earn commission if you open an ANNA business account through this link. It doesn't change this ANNA review. Disclosure
ANNA review FAQs
Is ANNA a real bank?
No. The ANNA business account is an e-money account provided by PayrNet Limited, an FCA-authorised Electronic Money Institution. Your money is safeguarded rather than FSCS-protected. Savings held with Griffin Bank are FSCS-eligible.
Is the ANNA business account free?
The Free plan has no monthly fee and unlimited outgoing transfers. You still pay 0.95% on incoming payments above £1,000 a month, 1% to convert currency, and £29 a month for Auto Accountant after the first four months if you use it.
Can I pay cash into ANNA?
Yes. You can pay cash into your ANNA business account at PayPoint stores using a barcode from the app. Daily and monthly limits apply, and ANNA has said there's a 1% fee per deposit. Check the current fee with ANNA.
Does ANNA support CHAPS payments?
ANNA's pricing page lists CHAPS fees, but its terms say CHAPS isn't supported. Check with ANNA before you need to make a CHAPS payment.
Can sole traders open an ANNA business account?
Yes. Sole traders who live in the UK, are aged 18 or over and aren't US persons for tax can apply. There's no minimum turnover.
How do I contact ANNA?
Through in-app chat 24/7, or by email at help@anna.money or hello@anna.money. ANNA says it usually replies in under a minute. We didn't find a phone line.
Is this ANNA review independent?
ANNA is a partner and we may earn commission, which we disclose. The facts in this ANNA review come from ANNA's own pages, and we've listed the drawbacks alongside the strengths.
Sources
All sources for this ANNA review were checked 25 October 2026.