Price comparison giant MoneySuperMarket has moved into business current accounts, and the news that Countingup and Griffin will power the MoneySuperMarket business banking offering, reported by Open Banking Expo, matters to any UK small business owner shopping around for a place to keep the company money. In plain terms: MoneySuperMarket is putting its brand on the front, while two specialist fintech firms handle the plumbing behind it.
That split is the whole story. Countingup is a UK business account app that bundles bookkeeping into the account itself, and Griffin is a fully licensed UK bank that lets other companies build banking products on its infrastructure (often called Banking-as-a-Service, or BaaS: one firm renting out the regulated banking engine so another can offer accounts under its own name). For SMEs, the practical question is simple: is this worth switching for, and how does it stack up against the accounts you can already open today?
What has actually launched
MoneySuperMarket is best known for comparing insurance, energy and broadband. Adding a business current account under its own banner is a step from comparing products to offering one. The account experience, the app and the day-to-day bookkeeping features come from Countingup’s technology, while Griffin provides the regulated banking layer, which is where your money is actually held and where the safeguarding or deposit protection sits.
The reason this pairing makes sense is that Griffin holds a UK banking licence, so partners building on it can offer genuinely regulated accounts rather than the e-money arrangements some app-based accounts use. If you have ever wondered whether your app account is a “real” bank account or an electronic money wallet, that distinction is exactly what Griffin is designed to settle. Countingup, meanwhile, brings the feature small firms notice first: business banking and simple accounting living in the same app, a trend echoed by Xero’s new auto bank reconciliation. If you do switch, read how to close a business bank account in the UK first.
Why the accounting angle is the interesting part
Most business accounts just move money. Countingup’s pitch has always been that your transactions, receipts and a running profit view sit together, which cuts the copy-and-paste between your bank and your books. For a sole trader or micro-limited company that does not want a separate ledger, that can be enough on its own.
It is not a replacement for full accounting software if you have payroll, stock or VAT complexity. If that is you, tools like Xero, FreeAgent and QuickBooks still do more, and it is worth reading our rundown of the UK small business software every owner should consider before you commit. The built-in bookkeeping in an account like this is best seen as a way to keep records tidy from day one, not as a full finance suite.
How it compares with the accounts SMEs already shortlist
The UK business banking market is crowded, and the useful names are not only the ones on the high street. Below is a plain comparison of the type of provider a small business owner would realistically look at. Pricing changes often, so treat these as indicative and check each provider’s current tariff before you open an account.
| Provider | Type | Known for | Typical monthly cost |
|---|---|---|---|
| Countingup (behind MoneySuperMarket) | App account with built-in bookkeeping | Accounting and banking in one app | Tiered monthly fee, low starting band |
| Tide | App account plus admin tools | Invoicing, expense cards, integrations | Free tier, paid plans for more features |
| Starling Bank | Licensed challenger bank | Free sole trader and limited company accounts | Free core account, paid add-ons |
| Mettle (by NatWest) | App account | Free account, FreeAgent bundled | Free |
| ANNA Money | App account with tax help | Tax pots, invoicing, admin support | Free tier, paid plans |
| Zempler Bank (formerly Cashplus) | Licensed bank | Accounts for newer and thinner-file businesses | Monthly fee, some free options |
The pattern is clear. If a genuinely free account matters most, Starling and Mettle are the obvious names. If bookkeeping baked into the account is the draw, Countingup and ANNA lead. If you have struggled to be accepted elsewhere, Zempler has long targeted businesses that fall outside the mainstream. MoneySuperMarket’s new offering enters as a Countingup-style, bookkeeping-first account with a well-known consumer brand on the door.
What this means for a small business
For most owners the honest answer is: it is another solid option, not a reason to panic-switch. A recognised comparison brand entering business banking can be reassuring, and Griffin’s banking licence means the underlying account is properly regulated rather than a lightly wrapped e-money product. If you already run tidy books in dedicated software, the bundled accounting is less of a pull. If you are just starting out and dread bookkeeping, it could genuinely save you evenings.
It also fits a wider trend of finance features being folded into everyday admin, from ANNA Money and Admiral bringing insurance into SME admin to banks deepening their small business services. That trend is broadly good for owners: less switching between apps, more done in one place. The risk is lock-in, so keep your data exportable.
Practical checks before you open any business account
- Confirm whether deposits are covered by the Financial Services Compensation Scheme (up to £85,000) or safeguarded under e-money rules, as the protection differs.
- Check the real cost of the things you do most: cash deposits, transfers, and receiving card payments.
- Make sure it works with your books. If you use Xero or QuickBooks, a clean bank feed matters more than in-app bookkeeping.
- Have your Companies House details and ID ready, as identity checks are standard.
- Read the eligibility terms if you are a newer business, as some accounts are stricter than others.
Frequently asked questions
Is the MoneySuperMarket business account a real bank account?
The banking layer is provided by Griffin, which holds a UK banking licence, and the account experience comes from Countingup. That means it is built on regulated banking infrastructure rather than a simple e-money wrapper, but you should always confirm the exact protection that applies to your balance before you deposit funds.
Do I still need separate accounting software?
Not always. If you are a sole trader or small limited company with straightforward finances, the built-in bookkeeping may cover you. If you run payroll, manage stock or have more complex VAT, dedicated tools such as FreeAgent, Xero, QuickBooks or Sage will do more, and many pair neatly with a business account feed.
How does it help with tax and HMRC?
Accounts with built-in bookkeeping keep your income and expenses categorised as you go, which makes Self Assessment and Making Tax Digital far less painful at deadline time. It is worth reading the ACCA warning on HMRC Self Assessment changes so you know what sole traders need to watch.
What are the best alternatives to consider?
For free accounts, look at Starling Bank and Mettle. For bookkeeping-led accounts, ANNA Money and Countingup itself. For businesses that have been declined elsewhere, Zempler Bank and Tide are worth a look. Shortlist three and compare on the fees you will actually incur.
Will switching disrupt my payments?
Opening a new account is quick, but moving direct debits, standing orders and card payment settlement takes planning. Run both accounts in parallel for a month, redirect payment providers, and only close the old account once everything has landed cleanly.
What to do next
- List the fees that hit you most (cash handling, transfers, card takings) and compare Countingup, Starling, Tide, ANNA and Zempler on those specific costs.
- Decide whether you want banking and bookkeeping in one app or a separate account feeding into software you already trust.
- Confirm the deposit protection and eligibility terms in writing before moving any money, and check the original detail via Open Banking Expo.
- If you are also weighing up funding, read why weak SME lending confidence stops small firms asking for finance so your banking and borrowing plans line up.
