Is FreeAgent really free? Here’s the actual answer
The name causes genuine confusion. FreeAgent isn’t free in the sense of being a free product on its own, it’s a paid subscription software that becomes free to you specifically if you bank with certain providers.
How the free access actually works
Several UK business bank accounts include FreeAgent at no extra cost as part of holding an account with them, effectively the bank pays the licence fee to make their account more attractive. If you bank with one of these providers, you get full FreeAgent access without a separate subscription.
What if you don’t bank with one of those providers
Then FreeAgent is a genuine paid subscription like Xero or QuickBooks, and it’s worth comparing the cost against those alternatives rather than assuming it’s always the free option.
Is it worth switching banks just to get it free
Possibly, if the bank account itself also suits your needs on its own merits, banking features, fees, app quality. It’s rarely worth switching banking providers purely to get free accounting software if the account itself isn’t otherwise a good fit for you.
The honest bottom line
Check whether your current or intended business bank account includes it before assuming you’ll pay separately. If it does, you’re getting a genuinely capable tool at no extra cost. If it doesn’t, treat it as a normal paid subscription decision alongside Xero and QuickBooks.
Where we mention a paid product we may earn a fee if you sign up, at no cost to you, and it never changes what we recommend. Pricing and features change, always check the provider’s own site for current details. This is information, not accounting advice.