What it does
OakNorth provides business accounts for growing and mid-market companies, alongside personal savings. Finance teams can manage several companies from one login, assign user permissions and route payments through their own approval policies. Each business account includes a named Business Partner contact.
OakNorth brings several legal entities into one login while keeping each team member’s permissions configurable. That is useful when an accounts assistant prepares payments and someone else must approve them.
For a bulk payment, open Payments → Bulk, then Pay → Bulk on the web platform. Download the CSV template and add recipient names, account details, references and amounts. Upload the completed file, correct any flagged errors or duplicates, and pay or save a draft. A file can hold up to 250 recipients. The dashboard tracks payment and approval progress; account balances and payments are currently in GBP.
Connecting the books
Under Accounting integrations, select Set up for Xero, Sage or NetSuite. Each connection has its own authorisation steps. For Xero, approve access, choose the organisation and match the OakNorth accounts to their Xero accounts. Daily feeds begin at 4pm on the setup day if connected before that time, or the following day if connected later.
The account itself is free. The published tariff also lists free Faster Payments, CHAPS and domestic card purchases. Two replacement physical cards per year are free, with subsequent replacements costing £3 each except in confirmed fraud cases.
One published eligibility route requires turnover above £1 million for a qualifying company registered and active at Companies House. Begin with the eligibility form, followed by an invitation to complete the application in OakNorth Business. The Help section provides a call, email or meeting route to the assigned Business Partner.
Strengths
- Multiple companies, custom user roles and approval policies share one login.
- Bulk files are checked for errors and duplicates before payment.
- Daily accounting feeds connect to Xero, Sage or NetSuite.
Watch out for
- Accounts currently hold and make payments in GBP.
- Applications are restricted to qualifying company types and business-size criteria.
Best for
- Finance teams handling several companies or payment approvals
- Eligible businesses sending payroll or supplier batches
Sources
- OakNorth Business Banking (Oct 27, 2026)
- Opening an OakNorth Business Account (Oct 27, 2026)
- OakNorth Payments and Bulk Uploads (Oct 27, 2026)
- OakNorth Accounting Integrations (Oct 27, 2026)
- OakNorth Business Account Limits and Fees (Oct 27, 2026)