The information below is specifically for customers with a sole trader account. 👤
Just like our limited company accounts, your business account has set limits in place. These limits are fixed and can’t be changed or increased, even on request. ❌
To avoid any disruption to your business, such as payments failing because you've reached a limit, we recommend planning your account activity and payments throughout the month. 🗓️
Balance limits
| Limit type | Sole trader account |
|---|---|
| Maximum account balance | £60,000 |
| Maximum tax pot balance | £15,000 |
Cash limits
| Limit type | Sole trader account |
|---|---|
| Cash deposit via Post Office (per transaction) | £2,000 |
| Cash deposit via Post Office (per day) | £5,000 |
| Cash deposit via PayPoint (per transaction) | £500 |
| Cash deposit via PayPoint (per day) | £1,000 |
Payment limits
Your business account can receive BACS and CHAPS payments. You can also send and receive Faster Payments.
| Limit type | Sole trader account |
|---|---|
| Incoming and outgoing limits per day (Faster Payments, BACS/CHAPS, Direct Debits) | £30,000 |
| Incoming and outgoing limits per month (Faster Payments, BACS/CHAPS) | £120,000 |
Card limits
| Limit type | Sole trader account |
|---|---|
| Card purchases per day | £10,000 |
| Card purchases per month | £60,000 |
| Cash withdrawal via ATM per day | £500 |
| Contactless payments | £100 |