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. 🗓️
If your sort code is 04-36-15
Balance limits
| Limit type | Limited company account |
|---|---|
| Maximum account balance | £300,000 |
| Maximum tax pot balance | £300,000 |
Payment limits
You can also send and receive Faster Payments. CHAPS is coming soon.
| Limit type | Limited company account |
|---|---|
| Incoming and outgoing limits per day (Faster Payments, BACS, Direct Debits and CHAPS) | £30,000 |
| Incoming and outgoing limits per month (Faster Payments, BACS, Direct Debits and CHAPS) | £240,000 |
Cash limits
You'll be able to deposit cash at any Post Office soon. We're still working on this feature 🚧.
Card limits
Your card has two types of limits to keep your money safe. These track how much you spend in total and how many times you use your card.
The total value limit is the maximum amount of cash you can spend over a set time. The quantity limit is the actual number of individual payments you can make. It doesn't matter which limit you hit first. As soon as you reach one of them, we'll have to decline any further payments for that period to keep your account secure.
For example, you have a daily spending limit of £10,000, or a cap of 125 daily POS payments. Once you hit either limit, you can't make any more transactions until the timer resets.
| Limit Type | Total value | Quantity |
|---|---|---|
| Single card purchase | £10,000 | n/a |
| Card spend* per week | £70,000 | n/a |
| Card spend* per month | £200,000 | n/a |
| Card spend* per year | £2,400,000 | n/a |
| POS transactions per day (i.e. not e-commerce) | £10,000 | 125 |
| POS transactions per week (i.e. not e-commerce) | £70,000 | 875 |
| Cash withdrawal via ATM per day | £500 | 20 |
| Cash withdrawal via ATM per week | £3500 | 140 |
*includes cash withdrawal via ATM
If your sort code is 23-69-72
Your account is provided by Prepay Technologies Ltd (PPS), and your cash deposit limits are based on the model below.
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. Please note that the limits apply to incoming and outgoing payments separately.
| 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 |