Countingup vs Revolut Business
Side-by-side comparison — pricing, features, ratings, use cases. Find which Business Banking fits you best.
🔍 Independently researched ·
📊 Data-driven
29/100
Free tier
UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their busi
💰 Pricing
🆓 Free tier available
All core features are free, but additional services like in-app accountant support or advanced features may incur costs.
Starting at $5 (freemium)
Fee notes:
- No monthly account fee.
- Card payments: no fee for UK card transactions.
- Cash deposits: £1.50 per cash deposit (up to £3,000 per deposit) via Post Office.
- International payments: 2.5% FX markup on exchange rate, plus £2.00 per transaction.
- Overseas card spend: 2.5% FX fee.
⚠ Watch for:
- Cash deposits not free; £1.50 per deposit at Post Office.
- International transactions have 2.5% FX markup and possible fixed fees.
- Accountant sharing via Pro plan costs extra (£X/month).
- Card replacement may incur a fee if lost or damaged.
🔧 Features
✓ Built In Accounting✓ Tax Estimates✓ Accountant Sharing✓ Uk Only✓ Fca Registered✓ Free Tier
📋 Assessment
💪 Strengths
- All-in-one integration: Countingup eliminates the need for separate bookkeeping software by integrating accounting directly into the bank account. Every transaction is automatically categorised using a combination of rules and artificial intelligence. This saves hours of manual entry and ensures your records are always up to date, which is especially valuable for freelancers and sole traders who lack the time or inclination for bookkeeping.
- Real-time tax estimates: The app calculates your estimated tax liability continuously, based on your income and expenses. This feature allows you to set aside the right amount of money as you go, avoiding the stress of a huge tax bill in January. The estimates are visible at a glance on the dashboard, making it easy to plan your cash flow throughout the year.
- Accountant access: With the paid plans, you can grant your accountant or bookkeeper read-only access to your transactions and reports. They can also enter journal entries and reconcile your books without needing physical paperwork. This collaboration is seamless and reduces back-and-forth emails, making the year-end much smoother.
- Invoicing and expense tracking on the go: You can create and send invoices directly from the mobile app, which also allows you to attach receipts to expenses via photo capture. The app remembers your bank card details for fast payments, and you can track when invoices are viewed and paid. This is ideal for businesses that need to manage cash flow while on the move.
- Business loan options: Countingup uses your transaction history to offer pre-approved business loans, with applications that take just minutes. This can be a useful source of quick funding for small businesses that might struggle to get credit from traditional banks due to limited credit history.
⚠ Watch out for
- Not FSCS protected: As an e-money institution, Countingup is not covered by the Financial Services Compensation Scheme. This means that if Countingup were to fail, your money is not protected by the UK government's £85,000 compensation limit. While client funds are segregated, they are not legally owned by you once deposited, which is a risk to consider.
- UK-only and no multi-currency: Countingup is strictly for UK businesses and only operates in pounds sterling. There are no multi-currency accounts, and you cannot send or receive international payments. If your business deals with foreign clients or suppliers, you'll need to use a separate solution, which negates some of the convenience of having everything in one place.
- Free plan has significant limitations: The free tier only includes basic transaction categories and does not offer features like accountant access, invoice creation, or receipt capture. The ability to share data with your accountant is locked behind the £5/month plan, which may be a dealbreaker for businesses that rely on professional advice.
- Annual billing for paid plans: To get the advertised monthly price, you have to pay annually in advance. If you choose to pay monthly, the cost is higher, which might be an unexpected expense for those who prefer flexible billing. This is a common but still annoying practice.
- Occasional transaction import issues: Some users have reported that transactions sometimes fail to import or miscategorise, requiring manual correction. While the AI improves over time, it's not perfect, and tech-savvy users may find themselves spending time fixing categories rather than trusting the automation blindly.
🎯 Best for
UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their business current account.
🚫 Who should skip
Businesses with complex accounting needs, payroll, heavy cash handling, international operations, or those requiring FSCS-protected banking.
📚 Learning curve
Minimal — the app is designed for non-accountants, with automated categories and straightforward navigation.
🧑⚖️ Verdict
Countingup is ideal for UK freelancers, sole traders, and small businesses that want a bank account with built-in bookkeeping, especially if they're just starting out and want to minimize cost and complexity. However, if you need FSCS protection, international banking, or already use a separate acco
66/100
Free tier
Digital-first small businesses, freelancers, and startups with international clients or suppliers who want low-cost FX,
★ Best
💰 Pricing
🆓 Free tier available
Free plan includes a multi-currency account, local transfers in 5 currencies, and 0.4% FX markup on foreign exchange. Limited to 2 team members and 3 local currency accounts.
Fee notes:
- FX markup: 0.4% on Free plan, 0.3% on Grow, 0.2% on Scale, 0% on Enterprise (for monthly volumes above certain thresholds).
- Local transfers in supported currencies are free on all plans, but international SWIFT transfers incur a fee: from $3 (Grow) to $5 (Scale) per transfer, with correspondent bank fees.
- Physical corporate card delivery: $5 (Free) or free on Grow and above.
- ATM withdrawals: free up to £200/month (or equivalent) on free plan, then 2% fee; higher limits on paid plans.
- Cash deposits: 0.5% fee (min $1) for deposits into GBP or EUR accounts; no deposit service for USD.
⚠ Watch for:
- FX markup on weekends is higher (1% on Free, 0.8% on Grow, 0.6% on Scale) due to market closure.
- SWIFT transfer fees can be up to $20 for some corridors due to correspondent bank fees.
- Physical card issuance fee for Free plan is $5 per card, and replacement cards cost $5.
- Cashback rewards may be capped or exclude certain categories.
🔧 Features
✓ Free Tier✓ Multi Currency✓ Corporate Cards✓ Fx Interbank✓ Global Coverage
📋 Assessment
💪 Strengths
- Interbank exchange rates: Revolut Business exchanges currencies at the wholesale interbank rate, with no markup. This is significantly cheaper than typical bank rates, which often include a 2-3% spread. For a business doing $50,000 in monthly cross-currency transactions, this can save hundreds of dollars per month. The feature is especially valuable for importers, exporters, or companies with overseas clients.
- Multi-currency accounts with local details: Businesses receive local account numbers for GBP, EUR, and USD, enabling them to receive payments as if they had a local bank account in the UK, Eurozone, or US. This reduces fees for incoming international transfers, which would otherwise incur correspondent banking charges. Also, holding balances in multiple currencies allows businesses to avoid unnecessary conversions.
- Expense management and corporate cards: Revolut Business offers corporate debit cards (physical and virtual) with spend controls, such as merchant category limits, per-transaction caps, and instant freeze. Expense management tools let employees snap receipts, which auto-match to transactions, and the app categorizes spending for easier accounting. This feature is a huge time-saver for finance teams.
- Fast and transparent onboarding: The account setup is entirely digital, and most businesses get approved within a few days, often hours. There are no branch visits or paper forms. The process typically requires uploading company documents and a selfie, and the in-app verification is smooth. For a business that needs to start banking quickly, this speed is a distinct advantage.
- Free plan with a decent feature set: The free tier provides multi-currency accounts, local details, and transfers within the same currency without fees up to a monthly limit (e.g., 1,000 EUR in EUR payments). This makes it accessible for small businesses and freelancers who want a low-cost international account without committing to a monthly subscription.
⚠ Watch out for
- No physical branches and limited in-person support: Revolut Business is entirely digital, which means no branch visits for cash deposits or face-to-face consultations. Support is primarily via in-app chat and email, with no phone number to call. For business owners who prefer personal interactions or need urgent help (e.g., a frozen card during a business trip), this can be a significant drawback.
- Free plan has hidden fees and limits: The free plan's allowance for free transfers and withdrawals is limited, and once exceeded, fees quickly add up. For instance, the free plan allows up to 1,000 EUR free EUR transfers per month, but after that, a fee applies. Also, FX conversions above a monthly threshold include a markup (e.g., 0.5% after £1,000 in the UK). Users can be caught off guard by these costs if they don't read the fine print.
- Not a full substitute for a traditional business bank: Revolut Business lacks essential banking services like overdrafts, business loans, and merchant acquiring (i.e., a built-in card reader for face-to-face payments). In some regions, it also lacks check deposits and cash handling. Businesses that need credit or advanced banking products will still need to maintain a relationship with a traditional bank.
- Customer support can be slow for non-critical issues: While many users report fast responses via chat, there are also complaints about delays, especially during peak times or for complex issues. The support team is not available 24/7 by phone, so resolving time-sensitive problems (like a blocked account) can be stressful. The online help center covers many topics, but it doesn't replace direct human assistance.
- Account freezes and verification: Some businesses have reported accounts being temporarily frozen due to internal compliance checks, often without prior notice. While this is common in the fintech industry, it can disrupt cash flow for a small business. The lack of a dedicated relationship manager (unless on expensive plans) makes it difficult to get these issues resolved quickly.
🎯 Best for
Digital-first small businesses, freelancers, and startups with international clients or suppliers who want low-cost FX, multi-currency accounts, and simple expense management without monthly fees.
🚫 Who should skip
Businesses that need local branches, lending products, or dedicated account managers, as well as enterprises with complex treasury requirements or in jurisdictions where Revolut Business is not yet available.
📚 Learning curve
Minimal — the app and web dashboard are intuitive and similar to consumer fintech apps, but understanding free plan limits and FX policies requires reading the fee schedule.
🧑⚖️ Verdict
Revolut Business is a powerful, cost-effective solution for digital-first, internationally oriented businesses that can thrive with online banking. It excels at low-cost FX, fast transfers, and expense management, making it ideal for freelancers, startups, and SMEs that deal with multiple currencies
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseCountingupRevolut Busines
Freelancer Self-Assessment Tax Returns95—
Built-in tax estimates and expense categorisation make it easy to track taxable
Paying Business Expenses on the Go90—
App-based account with instant notifications and auto-categorisation helps small
Sharing Financials with an Accountant92—
Accountant access feature lets professionals view live data and eliminates manua
Managing Simple Invoice Payments80—
Offers invoicing and automatic chase reminders, though it's not as full-featured
Handling Complex Inventory or Payroll30—
Lacks advanced inventory management and payroll tools; better suited to service-
International Payments & FX Conversion—95
Interbank exchange rates and multi-currency accounts make it very cost-effective
Expense Management for Remote Teams—88
Virtual and physical corporate cards with spending limits, real-time notificatio
Freelancer & Sole Trader Banking—82
The free tier, fast setup, and easy invoicing features are practical for freelan
🧭 Which One Should You Pick?
Choose Countingup if...
- You are: UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their busi
- 👍 All-in-one business current account and bookkeeping software, eliminating the need for separate acco
- 👍 Automatic expense categorisation and tax estimates updated in real time.
- 👍 FCA-registered e-money institution with segregated client funds for safety.
- 💰 From $5/mo
- ⚠ Trade-off: Not a licensed bank; deposits aren't covered by the FSCS.
Choose Revolut Business if...
- You are: Digital-first small businesses, freelancers, and startups with international clients or suppliers who want low-cost FX,
- 👍 Interbank exchange rates on currency conversion, which is significantly cheaper than most traditiona
- 👍 Free plan with local account details for GBP, EUR, and USD, making it accessible for small businesse
- 👍 Fast digital onboarding and fully mobile/in-app account management with no branch visits required.
- 💰 Free tier available
- ⚠ Trade-off: No physical branches and limited in-person support, which is a drawback for busi
❓ Frequently Asked Questions
How much does Countingup cost?
Countingup offers a free plan and paid plans starting at around £4.95/month for additional features like accountant sharing and invoicing. Exact pricing varies, so check the website for the latest fees.
Is Countingup a bank?
No, it's an FCA-registered e-money institution, not a licensed bank. Your money is safeguarded in segregated accounts, but it doesn't have FSCS deposit protection like a bank.
Can I use Countingup with my accountant?
Yes, the paid plan gives your accountant real-time access to your transactions, categories, and tax estimates. This can save time during year-end and reduces back-and-forth.
Does Countingup work for limited companies?
Yes, it offers business current accounts for both sole traders and limited companies, including features like invoicing and tax calculations. However, complex corporation tax filing may still require an accountant.
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