ComparisonLast checked 8 November 2026

Incard vs RBS: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A high-street business current account with no monthly fee, where you pay per transaction, and 2 years of free everyday banking for start-ups and switchers.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want card cashback, which RBS doesn't list
You want a euro account, which RBS doesn't list
You want a US dollar account, which RBS doesn't list
You're comfortable with safeguarding instead of FSCS cover

RBS suits you if

You're starting up or switching and want 2 years of free everyday banking
You make few transactions, as there's no monthly fee
You pay in cash or cheques at a branch or Post Office
You trade abroad and want a currency account at the same bank

What a year of card spending earns you

Incard Free against RBS's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£600 a year better off with Incard

Incard Free: £600 cashback, £0 fees
RBS's cheapest plan: no cashback, £0 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. RBS's cheapest plan: No monthly fee; 2 years of free everyday banking for start-ups (turnover under £1m) and full-switch customers (turnover up to £2m).

Why we pick Incard over RBS for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. RBS: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. RBS: GBP; other currencies in a separate Business Currency Current Account.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. RBS: 2.75%.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	RBS
Type and protection	E-money · safeguarded, no FSCS	Bank · FSCS cover
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	UK sole traders and UK limited companies
Cheapest plan	Free: £0 a month	No monthly fee; 2 years of free everyday banking for start-ups (turnover under £1m) and full-switch customers (turnover up to £2m)
Plans (monthly)	Free £0, Grow £49, Plus from £199	Business Current Account: no monthly fee, pay per transaction
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	Not listed
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	2.75%
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	£0.35 per Faster Payment
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	£15 via digital banking; SEPA £0.35; £7 to receive
ATM withdrawals	2% in the UK, 2.5% abroad	£0.35 per withdrawal
Cash deposits	Not listed	£0.95 per £100 at a branch or Post Office, plus £0.95 per item
Currencies you can hold	GBP, EUR and USD, with IBANs	GBP; other currencies in a separate Business Currency Current Account
Accepting card payments	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists card cashback, a euro account, a US dollar account, cards for your team, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.
Only RBS lists cash deposits.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

RBS

The Royal Bank of Scotland plc, registered in Scotland (SC083026). It is authorised by the PRA and regulated by the FCA and the PRA (FRN 114724). Eligible deposits are protected up to £120,000 by the FSCS. Royal Bank of Scotland's information sheet says deposits with Royal Bank of Scotland, Drummonds, Holts and Child & Co are added together under one limit; it does not list NatWest.

Who can open one: Owners or directors aged 18 or over, with at least one UK resident on the application, a business registered for UK income or corporation tax, and no bankruptcy or County Court Judgment. Businesses trading under a year with turnover under £1m apply as start-ups. New customers based in England or Wales without an existing Royal Bank account are pointed to NatWest. Full RBS profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

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