Provider review
Zempler Bank Business
Accepts businesses the mainstream banks turn away — and unusually for that corner of the market, holds a full banking licence, so your balance is FSCS-protected rather than merely safeguarded.
Who holds your money
Zempler Bank Limited, formerly Cashplus Bank, holder of a full UK banking licence.
Eligible deposits protected up to £120,000 per eligible depositor. This is the key distinction from most providers competing for hard-to-bank customers, which are e-money firms offering safeguarding only.
Verify the firm reference number on the FCA Financial Services Register before relying on this.
Scorecard
Seven criteria, each weighted. Every score below says what drove it.
Outside the top five overall, though it placed 5th for relationship management.
Thinner than the mainstream. The proposition is acceptance, not tooling.
FSCS to £120,000 on a full banking licence — unusual among providers serving harder-to-bank customers.
Higher per-item charges than the mainstream, which is the price of broader acceptance.
Pays nothing at all on business balances. On a £25,000 reserve that is the whole of the market rate foregone.
Cash and payments supported, at higher per-item rates than the mainstream.
Accepts applicants the mainstream declines, including thin credit files and prior declines.
Weighted total 3.2 / 5. Weightings published on how we rate.
Service quality evidence
| Overall service quality | Joint 5th, 69% |
| Online and mobile banking | Joint 4th, 74% |
| Relationship management | 5th, 69% |
Independent survey of around 1,200 SME customers a year per provider, conducted by BVA BDRC (now part of Ipsos) and published by the CMA in August 2026. All 17 surveyed providers are ranked; a provider shows as not ranked only where it does not offer the service or fewer than 100 of its customers gave an eligible score.
Interest on balances
Verified from provider site| Rate on the free tier | — |
| Best sustainable rate | — |
| Extra cost to reach it | None |
| Access | Not offered |
| Net on £25,000 | £0 |
No meaningful interest on balances. If you are holding a reserve, hold it somewhere else.
Affiliate note
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Fees are checked against the provider’s published tariff. If a page has not been re-checked within 60 days, it says so at the top.
The verdict
Zempler, formerly Cashplus, exists for businesses the mainstream will not take. It weights identity verification far more heavily than credit history, and it accepts thin credit files, new companies and applicants who have been declined elsewhere.
What makes it worth knowing about rather than merely available is the licence. Zempler holds a full UK banking licence, so eligible balances carry FSCS protection to £120,000. Most providers competing for the same customers are electronic money institutions where funds are safeguarded instead — genuine protection, but not a statutory guarantee.
It also placed fifth in the CMA survey for relationship management, which is a better showing than its overall position suggests.
The trade-offs are real: higher per-item charges, thinner tooling, no interest on your balance at all, and a feature set well behind Starling or Monzo. Treat it as a stepping stone rather than a destination — twelve to eighteen months of clean history should let you reapply to a mainstream provider on much better terms.
Who it suits
- New companies with no trading history that mainstream banks will not underwrite.
- Directors with impaired credit who have been declined elsewhere.
- Anyone needing an account quickly to start trading, with a plan to move later.
Who should look elsewhere
- Businesses that would qualify elsewhere. You are paying more for acceptance you do not need.
- High-volume payers. Per-item charges add up quickly.
- Anyone wanting strong accounting integration. Limited compared with the leaders.
Every tier, priced
What each plan includes, and what the step up actually costs over a year.
| Plan | Monthly | Per year |
|---|---|---|
| GoEntry tier. Core account, debit card, app and online banking. Per-item charges apply on some transaction types. | £0 | £0 |
| ExtraLarger transaction allowances and additional features over the free tier. | Monthly fee | Verify current tariff |
| ProThe fullest allowances and feature set, aimed at more active businesses. | Higher monthly fee | Verify current tariff |
Pricing must be verified against the provider's own site before publication. Providers reprice without notice.
The fees that are not in the headline
The monthly fee is what gets advertised. These are the charges that decide what you actually pay.
| Charge | Cost | Who it affects |
|---|---|---|
| Monthly account fee | £0 on Go, monthly on higher tiers | Compare the tier fee against the per-item charges you would otherwise pay. |
| Electronic payments | Per item on some tiers | High-volume payers should price the higher tiers. |
| Cash paid in | Per deposit | Occasional cash handlers. |
| Card and account features | Some chargeable | Read the tariff — more lines are chargeable here than at the leaders. |
Applying
Application is online and designed to be fast, with a strong emphasis on identity verification rather than credit assessment. This is the whole point of the product.
You will still need proper ID and accurate business details — acceptance of impaired credit does not mean acceptance of incomplete or inconsistent applications.
Where applications fail
- Failed identity verification — the main reason applications fail here, since credit is weighted lightly.
- Prohibited sectors — even Zempler maintains exclusions.
- Inconsistent business details — the Companies House record must match.
- Sanctions and financial-crime screening — applied as at any licensed bank.
Alternatives worth costing
- Starling Business — Where to move once you have trading history — free and better tooled.
- ANNA Money — Also accessible, but e-money rather than a licensed bank, so no FSCS cover.
- Tide — Broad acceptance with better tooling, though protection varies by account.
Zempler questions
Can I open a business account with bad credit?
Yes. Zempler weights identity verification far more heavily than credit history, which is why it accepts applicants declined elsewhere. Before assuming you need it, though, check whether your decline was actually caused by something mundane like a Companies House mismatch or an unverifiable address.
Is Zempler Bank FSCS protected?
Yes. Zempler holds a full UK banking licence, so eligible deposits are protected up to £120,000. That is a real advantage over the e-money providers competing for the same customers.
Is Zempler the same as Cashplus?
Yes. Cashplus Bank rebranded as Zempler Bank. It is the same licensed bank under a new name.
Should I stay with Zempler long term?
Usually not. Once you have twelve to eighteen months of clean trading history, reapply to Starling or a high-street bank — you will almost certainly pay less and get better tooling.