Amaiz vs ANNA Money 2026: Head-to-Head Comparison

Amaiz and ANNA Money occupy the same niche in UK business banking: they are both Electronic Money Institutions that combine banking with accounting and invoicing tools. Neither is a traditional bank. Both are aimed squarely at sole traders and small businesses who want fewer subscriptions and a more integrated financial platform.

But the similarities mask some critical differences in how they charge you. ANNA Money’s pricing model includes a “Pay As You Go” option that sounds appealingly flexible until you calculate what it actually costs. Amaiz takes a more conventional subscription approach with flat monthly fees. The way each provider makes money from you affects the total cost of ownership far more than the headline prices suggest.

This comparison covers everything you need to make an informed decision: the real cost of each platform, banking features, accounting and tax capabilities, invoicing tools, and which provider delivers better value for different types of sole trader. We will also run the numbers on ANNA’s Pay As You Go model so you can see exactly what that “free” plan costs in practice.

Quick Comparison Table

Feature	Amaiz	ANNA Money
Type	Electronic Money Institution (EMI)	Electronic Money Institution (EMI)
FSCS Protection	No	No
Monthly Fee	Free / 49+VAT / 99+VAT	Pay As You Go / 19.90+VAT / 49.90+VAT
Hidden Costs	None on incoming payments	0.95% on ALL incoming payments (PAYG)
GBP Account	Yes	Yes
EUR Account	Yes (paid plans)	No
International Transfers	70+ currencies	Limited
Built-in Invoicing	Yes	Yes
Accounting	ACCA-qualified (paid plans)	Automated (VAT, Corp Tax)
Cash Deposits	No	Yes (28,000+ locations)
MTD Compatible	Yes	Yes
Trustpilot Rating	Limited reviews	4.5/5 (~4,900 reviews)
Business Customers	Growing	100,000+
Android App Rating	N/A	3.6/5 (below average)
Blog/Content	Limited	525+ articles

The Pricing Trap: What ANNA’s Pay As You Go Really Costs

This is the single most important thing to understand before choosing between these two providers, and it is the section most comparison articles gloss over.

ANNA’s Pay As You Go Model

ANNA’s entry-level plan is called “Pay As You Go.” There is no monthly subscription fee. That sounds attractive — you only pay when you use the account, right? Not exactly.

On the Pay As You Go plan, ANNA charges 0.95 percent of all incoming payments. Every pound that enters your account is subject to this fee. Not just card payments. Not just international transfers. All incoming payments, including standard UK bank transfers from your clients.

Let us run the numbers for a typical UK sole trader.

The Real Cost of ANNA Pay As You Go

Annual Turnover	ANNA PAYG Fee (0.95%)	Amaiz Free	Amaiz Professional (inc VAT)
20,000	190 per year	0	706
30,000	285 per year	0	706
40,000	380 per year	0	706
50,000	475 per year	0	706
60,000	570 per year	0	706
75,000	713 per year	0	706
100,000	950 per year	0	706

A sole trader earning 50,000 pounds per year pays 475 pounds annually just for the privilege of receiving money into their ANNA account. That is not a free account. That is an expensive account disguised as a free one.

At 75,000 pounds in annual turnover, the ANNA Pay As You Go fee exceeds Amaiz Professional’s annual cost — and Amaiz Professional includes ACCA-qualified accounting support. At 100,000 pounds, you are paying ANNA 950 pounds per year for a basic “free” plan while getting no accounting support whatsoever.

ANNA’s Paid Plans

ANNA also offers paid subscription plans that remove the incoming payment fee:

• Small Business (19.90 pounds + VAT per month) — no incoming payment fee, automated accounting, invoicing, tax calculations
• Business (49.90 pounds + VAT per month) — everything in Small Business plus priority support, dedicated account manager, and corporation tax features

On a subscription plan, ANNA becomes much more reasonably priced. The Small Business plan works out to approximately 287 pounds per year including VAT, which is genuinely competitive. The question is whether the features justify the cost compared to Amaiz’s offerings at similar price points.

Amaiz’s Straightforward Pricing

Amaiz charges flat monthly fees with no percentage taken from your income:

• Free plan — basic GBP banking, no incoming payment fees, core features
• Professional (49 pounds + VAT per month) — EUR account, 70+ currency transfers, ACCA-qualified accounting
• Premium (99 pounds + VAT per month) — everything in Professional plus dedicated management and priority support

There are no hidden fees on incoming payments at any tier. A pound received is a pound in your account. For sole traders who have experienced the unpleasant surprise of percentage-based fees eating into their revenue, this transparency is worth a great deal.

Pricing Verdict

If you earn under 25,000 pounds per year and are certain you want ANNA’s Pay As You Go plan, the incoming fee stays below 240 pounds annually, which is manageable. But the moment your turnover grows, that percentage becomes increasingly painful. For any sole trader earning above 30,000 pounds, ANNA only makes financial sense on a paid subscription plan.

Comparing like-for-like paid plans: ANNA Small Business at roughly 287 pounds per year is cheaper than Amaiz Professional at 706 pounds per year. But Amaiz Professional includes ACCA-qualified human accountants, which ANNA’s automated accounting does not. If you need an accountant anyway, Amaiz’s bundled price often works out cheaper in total.

Banking Features

Account Basics

Both Amaiz and ANNA provide GBP business accounts with Faster Payments, Direct Debits, and standing orders. Both issue business debit cards. Both offer mobile-first apps for managing your money.

The day-to-day banking experience is comparable on both platforms. You can receive payments, make transfers, set up recurring payments, and manage your balance from your phone. Neither platform supports joint accounts or multiple signatories in the way that traditional banks do.

Cash Deposits

ANNA has a clear advantage here. You can deposit cash at over 28,000 locations across the UK through the PayPoint network. For sole traders who handle cash — tradespeople, market vendors, service providers who occasionally receive cash — this is a practical and valuable feature.

Amaiz does not support cash deposits at all. If your business regularly deals in cash, this limitation could be a dealbreaker regardless of how good Amaiz’s other features are.

International Capabilities

This is where Amaiz pulls decisively ahead. The platform supports transfers in over 70 currencies and offers a dedicated EUR account on paid plans. For freelancers and sole traders working with international clients, this is a substantial advantage.

ANNA Money is focused almost entirely on the domestic UK market. International transfer options are limited, and there is no multi-currency account. If your clients are all in the UK and pay in pounds, this does not matter. But if even a portion of your income comes from overseas, ANNA’s lack of international infrastructure becomes a real constraint.

International Feature	Amaiz	ANNA Money
EUR Account	Yes (paid plans)	No
Currency Support	70+ currencies	GBP only
International Transfers	Comprehensive	Limited
Best For	International freelancers	Domestic-only businesses

Accounting and Tax Features

Both providers position themselves as more than just banking — they want to be your accounting platform too. But they approach this very differently.

ANNA’s Automated Accounting

ANNA offers automated accounting features that include:

• Automatic transaction categorisation using AI to tag expenses
• VAT calculation and submission directly from the platform
• Corporation Tax estimation on the Business plan
• Self Assessment tax calculations based on your income and expenses
• Receipt scanning and matching to link receipts to transactions

ANNA’s accounting is genuinely comprehensive in scope. The platform handles more tax types than many competitors, including VAT returns and Corporation Tax for limited companies. The automation means that most of the work happens without manual input — transactions are categorised, tax liabilities are estimated, and reports are generated automatically.

The limitation is that all of this is software-driven. If the AI miscategorises a transaction, you need to catch it yourself. If your tax situation is complex — mixed income sources, capital allowances, partial exemptions — you may still need a human accountant to review ANNA’s output.

Amaiz’s ACCA-Qualified Accounting

Amaiz takes a fundamentally different approach on its paid plans. Instead of relying solely on automation, you get access to ACCA-qualified accounting professionals. ACCA (Association of Chartered Certified Accountants) is one of the most respected accounting bodies globally, and having qualified professionals handle your books is a meaningful step up from automated categorisation.

The practical difference is significant. An ACCA-qualified accountant will:

• Ensure your expense categorisation is correct and tax-efficient
• Handle year-end accounts and Self Assessment preparation
• Advise on allowable expenses you might not have claimed
• Ensure compliance with HMRC requirements, including Making Tax Digital
• Spot errors or inconsistencies that automated systems miss

The trade-off is that Amaiz’s accounting features are only available on the Professional (49 pounds + VAT) and Premium (99 pounds + VAT) plans. The free plan does not include accounting support.

Which Accounting Approach Is Better?

For sole traders with simple finances — one income source, straightforward expenses, no VAT registration — ANNA’s automated accounting is likely sufficient and costs less. The automation handles the routine work competently, and the tax calculations are generally accurate for standard situations.

For sole traders with more complex needs — multiple income streams, international revenue, significant capital expenses, or VAT obligations — Amaiz’s human accountants provide a safety net that software alone cannot match. The peace of mind of having a qualified professional reviewing your numbers is worth the premium.

It is also worth considering the Making Tax Digital transition. From April 2026, sole traders earning over 50,000 pounds must submit quarterly digital updates to HMRC. Having an ACCA-qualified accountant ensuring those submissions are correct is a different proposition from hoping that automated software has categorised everything properly.

Invoicing Tools

ANNA’s Invoicing

ANNA includes invoicing tools on all plans, including the Pay As You Go option (though remember, you are paying 0.95 percent on the resulting incoming payments). You can create branded invoices, send them to clients, track payment status, and send automatic reminders for overdue invoices.

The invoicing integrates with ANNA’s accounting, so when an invoice is paid, the income is automatically categorised and reflected in your tax calculations. This is a smooth workflow that reduces manual data entry.

ANNA also supports recurring invoices for retainer clients or subscription-based services, and you can accept card payments through the platform for an additional processing fee.

Amaiz’s Invoicing

Amaiz also provides built-in invoicing with similar core functionality: create, send, track, and chase invoices from within the app. The key difference is that Amaiz’s invoicing connects directly to its ACCA-qualified accounting on paid plans, meaning your accountant sees the full picture of issued invoices, received payments, and outstanding balances in real time.

For multi-currency businesses, Amaiz’s invoicing supports issuing invoices in different currencies — a feature that ANNA simply cannot match due to its GBP-only architecture. If you invoice a German client in euros, the invoice, payment receipt, and accounting entry are all handled natively.

Invoicing Comparison

Invoicing Feature	Amaiz	ANNA Money
Create and send invoices	Yes	Yes
Payment tracking	Yes	Yes
Automatic reminders	Yes	Yes
Recurring invoices	Yes	Yes
Multi-currency invoicing	Yes	No (GBP only)
Connected to accounting	Yes (ACCA on paid plans)	Yes (automated)
Card payment acceptance	Limited	Yes (with fees)

Mobile App Experience

ANNA’s App

ANNA’s iOS app is generally well-received, with clean design and good functionality. The Android experience, however, is notably weaker — the app holds a 3.6 out of 5 rating on the Google Play Store, which is below average for a financial services app. Common complaints on Android include performance issues, occasional crashes, and features that work less smoothly than on iOS.

If you are an Android user, this is worth testing before committing. A business banking app that you rely on daily needs to work flawlessly, and a 3.6-star rating suggests that Android users frequently encounter friction.

Amaiz’s App

Amaiz’s app is designed as an integrated workspace rather than a pure banking app. Banking, invoicing, and accounting are all accessible from the main interface. The design is functional rather than flashy — it prioritises workflow over aesthetics.

The app is newer than ANNA’s and has fewer public reviews, making it harder to assess long-term reliability from user feedback alone. However, the integration of all business functions into a single app means fewer context switches during your working day.

Customer Trust and Track Record

ANNA Money

ANNA has built a substantial customer base of over 100,000 businesses and maintains a strong Trustpilot rating of 4.5 out of 5 from approximately 4,900 reviews. The company has also invested heavily in content marketing, publishing over 525 blog articles covering business topics from tax advice to marketing tips. This content presence means ANNA often appears in search results when sole traders are looking for guidance, which builds familiarity and trust.

The breadth of ANNA’s content library is genuinely impressive and serves as a useful resource for sole traders regardless of whether they bank with ANNA. It also indicates a company that invests in educating its customer base rather than just selling to them.

Amaiz

Amaiz has a smaller public footprint. There are fewer Trustpilot reviews, a smaller customer base, and less content marketing. What Amaiz does have is the ACCA accounting credential, which carries significant professional weight. An ACCA-qualified accountant’s involvement is not a marketing claim — it is a professional standard enforced by a regulatory body.

The trade-off is familiar: ANNA offers more social proof and a larger community; Amaiz offers a more specialist, professionally credentialled service with less public validation.

Regulatory Status

Both Amaiz and ANNA Money are authorised as Electronic Money Institutions by the FCA. Neither provides FSCS deposit protection. Your funds are safeguarded in segregated accounts at authorised credit institutions, which provides a level of protection but not the government-backed guarantee that comes with a full banking licence.

This is not a differentiator between the two providers — they operate under identical regulatory frameworks. If FSCS protection is essential to you, neither Amaiz nor ANNA is the right choice, and you should look at fully licensed banks like Starling, Monzo, or a traditional high street provider instead.

What differs is how each provider communicates this. ANNA is generally upfront about its EMI status in its documentation. Amaiz likewise does not obscure its regulatory position. As a customer of either, you should understand that EMI safeguarding is not deposit insurance, and plan your cash management accordingly — for example, by not holding excessively large balances in either account.

Pros and Cons

Amaiz

Pros:

• No percentage fee on incoming payments at any plan level
• ACCA-qualified accountants included on Professional and Premium plans
• Multi-currency support with 70+ currencies for transfers
• EUR account available on paid plans
• Multi-currency invoicing for international clients
• Transparent, flat-fee pricing structure
• Built-in MTD compliance through professional accounting support

Cons:

• No cash deposit facilities
• Higher monthly fees on paid plans (49 to 99 pounds + VAT)
• Smaller customer base with fewer reviews
• No Corporation Tax features (sole trader focused)
• Less content and educational resources
• Newer platform with a shorter track record
• Free plan is basic compared to competitors

ANNA Money

Pros:

• Large customer base of over 100,000 businesses with strong Trustpilot rating
• Comprehensive automated accounting including VAT and Corporation Tax
• Cash deposits at 28,000+ locations across the UK
• Lower paid plan starting at 19.90 pounds + VAT per month
• Extensive content library with 525+ educational blog articles
• Card payment acceptance built into the platform
• Good iOS app experience

Cons:

• Pay As You Go plan charges 0.95 percent on ALL incoming payments
• GBP only — no multi-currency accounts or international capability
• Android app rated just 3.6/5 with reported performance issues
• Automated accounting may miss nuances that a human accountant would catch
• No ACCA or professionally qualified accounting support
• International transfers are limited
• Pay As You Go becomes extremely expensive as turnover grows

Verdict: Which Gives Better Value?

The answer depends on three things: your annual turnover, whether you work with international clients, and how much you trust automated accounting versus human accountants.

Choose ANNA Money if your business is entirely UK-based, you handle cash, and your turnover is moderate. Go straight to the Small Business plan at 19.90 pounds plus VAT per month — do not use the Pay As You Go option unless your turnover is very low (under 20,000 pounds). ANNA’s automated accounting covers VAT and Corporation Tax, which is useful if you run a limited company. The large customer base and strong reviews provide reassurance, and the extensive blog is a genuinely helpful resource.

Choose Amaiz if you work with international clients, want professional accounting support, or your turnover is above 50,000 pounds. The combination of multi-currency banking, ACCA-qualified accountants, and no hidden fees on incoming payments makes Amaiz the more cost-effective and capable choice for growing or internationally-facing businesses. If you currently pay separately for an accountant, the Professional plan could consolidate that cost and simplify your financial management.

Avoid ANNA Pay As You Go if your annual turnover exceeds 25,000 pounds. At 50,000 pounds of turnover, you are paying 475 pounds per year just to receive money — with no accounting support included. That is poor value by any measure. If you want ANNA, commit to a paid subscription plan where the incoming fee disappears.

The bottom line: ANNA is the better budget option for domestic-only sole traders on a paid subscription. Amaiz is the better choice for anyone who needs multi-currency capabilities, professional accounting, or transparent pricing that does not penalise you for earning more. Both are solid platforms, but understanding the true cost of each — not just the headline price — is essential to making the right decision.