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If you've launched a new business and need to open a business bank account, choosing the right bank can be challenging. To assist you, Monitor has identified six top online UK bank accounts for small businesses. They are categorized based on managing teams, international payments, invoices, freelancers, e-commerce, and overall best business bank account. A business bank account is essential for receiving payments, sending payments, and conducting transactions like tax payments. HMRC registration and Companies House registration as a limited company legally require a business bank account, but sole traders and freelancers may not always need one.