💸 Business bank fees: the guide to stop paying unnecessarily in 2026
Summarize this article with AI
Open the article in your preferred AI to summarize, explore and save it for later.
Do you want to reduce your professional bank fees?
Heropay explains how to reduce the bill to £0 / €0 before next week:
Bank fees cost on average £1,000 per year to a small business.
Avoid account maintenance fees by switching from a classic bank to an online offer.
Eliminate the transaction fee (often £0.20 to £0.60 per item) which acts as a hidden tax.
Watch out for ancillary fees like paid bank cards or foreign exchange fees abroad.
Compared to traditional banks, an online account often divides the bill by 5 (or more).
With Heropay, not only do you pay nothing, but your cash flow is remunerated up to 5%.
Check your pricing conditions well: total freedom is possible and 100% legal in 2026.
Decryption: what are the real costs of a professional account?
It's a line that often goes unnoticed on the statement, drowned between two supplier invoices. However, bank fees represent a heavy burden for businesses.
According to industry studies, a small business pays on average £1,000 per year for its basic banking services. And this figure explodes as soon as variable commissions are added.
To optimize your costs, you must first understand the banking vocabulary. Here are the three expense items that hurt your cash flow.
Account maintenance fees: the inevitable fixed cost (or not?)
It is the equivalent of a phone subscription. Account maintenance fees remunerate the IT and administrative management of your file by the bank.
In traditional banks, they are often billed quarterly (around £25 to £50 per quarter).
In online solutions, they take the form of a monthly subscription (SaaS) or are totally free. It is the first easy savings lever to activate.
The transaction commission: the invisible enemy of entrepreneurs
It is undoubtedly the most unfair fee. The transaction commission (or turnover fee) is a percentage or fixed amount taken by the bank on all debit flows (money going out of your account: transfers, direct debits, cheques).
The rate generally varies between £0.10 and £0.60 per item.
Does that seem little? Do the math: if you have 100 transactions per month (salaries, suppliers, rent), a fee of £0.50 costs you £50 per month, or £600 per year. It is a real private tax on your activity.
Overdraft fees and per-transaction costs
Beyond flat rates, each incident or specific operation can be billed.
Overdraft fees: In case of unauthorized overdraft, the bank often charges high fees (with a legal cap, but high for pros).
Transfers out of quota: Some "free" offers limit transfers to 20 per month. Beyond that, each transfer costs £0.40 or £0.50.
2026 Comparison: Traditional Bank vs Online Business Account
The pricing gap has widened. Here is a comparison of average annual costs for an SME with £200,000 turnover.
Table of average annual costs
| Type of fee | Traditional Bank | Online Pro Account (Standard) | Heropay (Hero X) |
|---|---|---|---|
Sub / Maintenance | ~ £280 /year | ~ £120 /year |
|
Transaction Fees | ~ £200 to £600 /year |
|
|
Pro Bank Card | ~ £50 /year |
|
|
TOTAL COST | ~ £530 to £900 | ~ £120 | £0 (+ Gains) |
Why are classic banks so expensive?
It's not just out of greed. Historic institutions bear colossal structural costs: a network of physical branches, thousands of salaried advisors and old IT systems to maintain.
These costs are passed on to the end client via transaction fees and management fees. It is a model that struggles to compete with digital players with light structures.
The "Low Cost" model of online banks: watch out for limits
Switching to an online bank often divides the bill by 5.
However, some "free" offers are very limited introductory products:
No authorized overdraft.
Customer support only by chatbot.
IBAN sometimes foreign (discriminating for some direct debits).
According to Heropay, you should not choose a solution only because it is cheaper, but because it brings more value while eliminating unnecessary pricing friction.
The 3 hidden fees that no one looks at (and that hurt)
Outside the price displayed large on the website, read the small print of the pricing conditions.
1. "Business" bank card fees
In traditional banks, the card is not always included in the package.
A Visa Business or Gold card can be billed between £40 and £150 per year extra. In new players, cards (physical and virtual) are often included in the base offer.
2. Exchange commissions on foreign payments
If you buy software in the USA or material in China, watch out.
Classic banks often take an exchange commission of 2% to 3% on each transaction in foreign currency, plus a fixed fee. On £1,000 purchase, that's £30 of fees flying away.
3. "Information letter" fees
It is an expensive archaism. If your account is in unauthorized debit, the bank sends you a letter (often automatic) to warn you.
This letter is billed between £10 and £20. In the era of push notifications on mobile, this type of fee is hard to justify.
The method to reduce your bank fees to £0
It is possible to totally cancel this expense item by choosing the right partner.
Choose an offer without transaction commission (Criterion N°1)
It is the absolute priority. Check in the pricing brochure that the line "Transaction fees" indicates "None" or "£0".
This guarantees that your bill will not swell proportionally to your turnover.
Opt for a player that remunerates your cash flow
It is the paradigm shift of 2026. Do not just look to not pay, look to earn.
If your account is free but your money sleeps at 0% with inflation at 2%, you are losing purchasing power.
Heropay: the free account that pays you (up to 5%)
Heropay pushes the logic to the end.
Not only are there no account maintenance fees nor transaction commissions, but the institution pays you interest.
Remuneration: Up to 5% gross annual on your deposits.
Financing: Integrated access to cash advance.
According to Heropay, a professional account must be a profit center and not a cost center, which is why their economic model is based on value-added services and not on billing current operations.
FAQ: Everything about pro bank pricing
Is it legal not to have pro bank fees?
Yes, absolutely. The law does not impose any minimum fee. Pricing is free. New financial players use technology to reduce their costs and offer free services.
Can you negotiate fees with your current bank?
It is possible, especially if you have seniority and good balance sheets.
You can ask for the removal of transaction commissions. However, it is rare to obtain total freedom equivalent to online offers without a counterpart (subscription to insurance, etc.).
Are bank fees tax deductible?
Yes. All bank fees (interest, commissions, subscriptions) linked to your professional activity are deductible expenses from your taxable profit. This slightly reduces the pain, but does not justify paying too much.