ANNA Money review

The monthly fee is £0, and the account runs the no monthly fee model that most accounts on the site follow. That means you can hold it open with no standing charge, and the costs you meet come from moving money rather than from keeping the account.

The conversion charge is 1%, and the account ranks 172 of 312 brands on that fee, so it sits in the middle of the field. If you invoice in a single currency and spend in another, work out how often you convert before committing.

Incoming payments are charged 0.95% after GBP 1000/mo incoming, so the cost sits on money coming in rather than on a monthly subscription. For a sole trader invoicing a handful of clients that barely registers, while a business with steady turnover pays it month after month.

Free ATM withdrawals are listed as a feature of the account, with an allowance of £0. That suits anyone who pays suppliers, drivers or staff in cash rather than by bank transfer, and taking money out adds nothing on top of the other charges.

Help comes through a help centre, so expect to look up answers and send a message rather than speak to a person. That works for routine account questions, but a blocked payment is less comfortable when you need a quick decision from someone.

The stated audience is business and freelancer, so it fits a sole trader, a small company or an invoicing freelancer. It is less obviously aimed at everyday personal banking, where a wider cash network and branch access usually carry more weight than an account fee of £0.

A £0 monthly fee matches the site median, €0, so a free monthly account is the norm rather than a reason to switch. The fees that separate providers are conversion and payment charges, which is where the 1% conversion rate and 0.95% after GBP 1000/mo incoming on incoming payments come in.