ComparisonLast checked 8 November 2026

Incard vs TSB: 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. TSB's only business current account open to new applications, for existing TSB customers, with 30 months of free day-to-day banking and then a £5 monthly fee.

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 a £0 plan, which TSB doesn't list
You want card cashback, which TSB doesn't list
You want a euro account, which TSB doesn't list
You're comfortable with safeguarding instead of FSCS cover

TSB suits you if

You already have a TSB personal current account or mortgage
You want 30 months without a monthly fee
You keep an average balance of £10,000 or more, which removes the £5 fee
You pay in cash or cheques at a TSB branch or Post Office

What a year of card spending earns you

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

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

£660 a year better off with Incard

Incard Free: £600 cashback, £0 fees
TSB's cheapest plan: no cashback, £60 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. TSB's cheapest plan: Free for 30 months, then £5 a month (not charged if your average balance is £10,000 or more).

Why we pick Incard over TSB 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. TSB: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. TSB: Not listed.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. TSB: 2.75%; plus 1.5% (min £1.50) on foreign cash withdrawals other than euro in the EEA.

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	TSB
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	Free for 30 months, then £5 a month (not charged if your average balance is £10,000 or more)
Plans (monthly)	Free £0, Grow £49, Plus from £199	Business Plus: £0 for 30 months, then £5 a month
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%; plus 1.5% (min £1.50) on foreign cash withdrawals other than euro in the EEA
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	Free
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	£15 online (euro to qualifying EEA countries free); £2 to £7 to receive
ATM withdrawals	2% in the UK, 2.5% abroad	Free in the UK
Cash deposits	Not listed	70p per £100 after the free period, at TSB branches or Post Offices
Currencies you can hold	GBP, EUR and USD, with IBANs	Not listed
Accepting card payments	Not listed	Square offer: free reader and no fees on up to £5,000 of sales

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 TSB lists cash deposits and card payments from customers.

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.

TSB

TSB Bank plc, registered in Scotland (SC95237) and now part of Santander. It is authorised by the PRA and regulated by the FCA and the PRA (registration number 191240). TSB Bank plc is covered by the FSCS, and TSB says money in a TSB account is protected up to £120,000. Its pages don't say whether this limit is shared with Santander.

Who can open one: Only existing TSB business customers, TSB personal mortgage customers or active TSB personal current account customers, aged 18 or over, living in the UK, with a business registered in the UK. New customers are pointed to a Santander Business Current Account. Full TSB 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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