Key takeaways
- For online sellers the main costs are currency conversion and overseas payouts, not the monthly fee, so compare FX charges first.
- Wise Business charges a one-off £50 setup fee and conversion fees from 0.24%, checked on 6 November 2026.
- Airwallex Explore costs £19 a month, waived if you deposit or hold at least £10,000 a month, with FX at 0.5% above interbank for major currencies.
- Starling's GBP business account has no monthly fee; its euro account costs £2 a month, and it was not taking new US dollar account applications.
- Tide Lite is free but charges a 2.75% FX fee on foreign card payments; Smart, at £12.49 a month, has 0% FX fees on card spending.
- Marketplaces such as Amazon and eBay report sellers' income to HMRC each January unless you make fewer than 30 sales of goods and €2,000 or less in the year.
- FSCS protects eligible bank deposits up to £120,000; e-money accounts are safeguarded instead.
The right business bank account for an ecommerce seller is the one that keeps currency conversion and payout costs low, because those usually cost more than a monthly fee. We checked Airwallex, Starling, Tide and Wise on their own websites on 6 November 2026. Providers are listed alphabetically, not ranked, and we give no overall verdict.
What matters most for online sellers?
Ecommerce sellers need an account that receives payouts cleanly and converts currency cheaply. If you sell on Amazon, Etsy, eBay or your own Shopify store, payouts may arrive in pounds, euros or dollars, often several times a week.
Check these five things before you open an account:
- Currency accounts. Can you receive euros or dollars with local account details, so marketplaces pay you without conversion?
- FX fee. What percentage is added above the exchange rate when you convert?
- Card spending abroad. Ad spend and suppliers are often billed in dollars, so foreign card fees add up.
- Accounting feeds. Does the account connect to Xero, QuickBooks or FreeAgent?
- Protection. Is your money a bank deposit covered by the FSCS, or e-money that is safeguarded?
Ecommerce bank accounts compared
This table uses each provider’s own pricing page, checked on 6 November 2026.
| Provider | Monthly fee | Currency conversion |
|---|---|---|
| Airwallex Explore | £0 or £19 (see below) | 0.5% above interbank (major currencies) |
| Starling | £0 (euro account £2) | 0.4% between own Starling accounts |
| Tide Lite / Smart | £0 / £12.49 | 2.75% on Lite card payments; 0% on Smart |
| Wise Business | No monthly fee listed (£50 setup) | From 0.24% |
Fees are excluding VAT where the provider says so. For everyday domestic fees across more providers, see business bank account fees compared.
What each account offers
Airwallex. Airwallex Explore costs £19 a month, waived if you deposit at least £10,000 a month or hold a £10,000 balance at month end. Grow costs £49 a month. You get local account details in 20 or more currencies, free domestic GBP, EUR and CHF transfers, and SWIFT transfers at £10 to £20. FX is 0.5% above interbank for major currencies and 1% for others. Its pricing page does not list marketplace payout fees.
Starling. Starling’s GBP business account has no monthly fee and connects to Xero, QuickBooks and FreeAgent. Its multi-currency page lists a euro account at £2 a month and a US dollar account at £5 a month, but says it is not accepting applications for US dollar business accounts at the moment. Transfers between your own Starling currency accounts cost 0.4% on top of the exchange rate.
Tide. Tide Lite is free with 5 bank transfers a month and a 2.75% FX fee on foreign card payments. Smart (£12.49), Pro (£27.49) and Max (£69.99) a month have 0% FX fees on card spending. Payment Links and Tap to Pay are included on every plan.
Wise Business. Wise charges a one-off £50 setup fee covering account details in 22 currencies. Conversion and sending fees start from 0.24%, varying by currency. Receiving domestic GBP, EUR and USD payments is free; SWIFT payments in cost a fixed £2.16, €2.39 or $6.11.
We could not load Revolut Business’s pricing pages on 6 November 2026, so it is not in the table. Check its fee schedule directly if you are considering it.
Which applies to you?
Match the account to how you sell.
- If you sell only in the UK in pounds, a no-fee GBP account covers most needs; compare transfer allowances.
- If Amazon EU or Etsy pays you in euros, a euro account with local details avoids conversion on every payout.
- If you buy stock or ads in dollars, compare FX percentages on conversion and card spend.
- If you turn over £10,000 a month or more, Airwallex’s Explore fee is waived on its stated terms.
- If you want FSCS cover, check whether the account is a bank deposit or e-money. See e-money vs business current accounts.
Is my money protected?
Eligible deposits at UK banks are protected by the FSCS up to £120,000 per eligible person per firm, the limit since 1 December 2025. E-money providers safeguard customer funds instead, which is not the same as FSCS cover. Read business account FSCS protection before holding large balances.
Tax points for ecommerce sellers
Your bank account choice affects bookkeeping, and HMRC already sees much of your income. Under the digital platform reporting rules, HMRC says platforms report sellers’ details and income each year by the following January, and give you a copy. Sellers with fewer than 30 sales of goods and €2,000 or less (about £1,700) in a calendar year are not reported.
- Keep marketplace fees, refunds and payouts separate from your personal money.
- Record sales gross, not net of platform fees, then claim the fees as expenses.
- Watch your turnover against the £90,000 VAT threshold; see VAT for online sellers.
Our guide to selling online and tax covers the trading allowance and when you must register.
How to set up banking for an online shop
- Register your business: as a sole trader with HMRC or as a company with Companies House.
- Open a GBP business account and, if you sell abroad, add currency accounts.
- Change your payout details on each marketplace and payment provider.
- Connect the account to your ecommerce accounting software.
- Reconcile payouts against marketplace reports every month.
Frequently asked questions
Do I need a business bank account to sell on Amazon or Etsy?
A limited company needs one. Sole traders are not legally required to have one, but a separate account makes payouts and bookkeeping far easier.
Which accounts give euro or dollar account details?
Airwallex and Wise list local details in 20 or more currencies. Starling offers a £2 euro account; its dollar account was closed to new applicants on 6 November 2026.
What is the cheapest way to convert marketplace payouts?
Compare the FX percentage on your typical payout. Wise lists conversion from 0.24% and Airwallex 0.5% above interbank for major currencies.
Does HMRC know about my online sales?
Usually yes. Platforms report sellers’ income to HMRC each January unless you make fewer than 30 sales of goods and €2,000 or less in the year.
Are e-money accounts FSCS protected?
No. E-money funds are safeguarded rather than covered by the FSCS, which protects bank deposits up to £120,000.
Sources
Rates, thresholds and rules in this guide were checked against HMRC and GOV.UK guidance on 6 November 2026. Tax rules change, so check the current position on GOV.UK or with a qualified adviser before acting. This guide is general information, not personal advice.