Does Capital On Tap require a business bank account with them?

No. Capital On Tap is independent of any bank — your Direct Debit just needs to come from any UK business bank account (Barclays, Lloyds, HSBC, Tide, Starling, Mettle all work).

Which is better for foreign spend?

Capital On Tap charges 0% FX, Barclaycard Select Cashback charges 2.99%. On £30,000 of annual USD/EUR spend, that's £900/year saved with Capital On Tap.

Independent comparison · May 2026

Capital On Tap vs Barclaycard Select Cashback (2026)

Barclaycard Select Cashback is the traditional high-street bank business credit card with a tiered cashback structure. Capital On Tap is the fintech challenger with flat 1% cashback. Here's how they actually compare on real spend.

Side-by-side specification

	Capital On Tap	Barclaycard Select Cashback
Annual fee	£0 (Business) / £99 (Rewards)	£0
Rewards	1 point per £1 (= 1% cashback or 1 Avios 1:1)	Tiered cashback: 1% on first £10k spend, then 1.5% above £10k/month (recently changed — verify)
Foreign-exchange fee	0% FX fees worldwide	2.99% non-sterling fee
Credit limit	Up to £250,000	From £1,000
Eligibility	UK Ltd / LLP / PLC, £24k+/yr turnover, no unsatisfied CCJs (last 12 months). Sole traders not eligible. No published minimum trading-period rule.	UK business banking customer typically required
Representative APR	34.65% representative variable	27.4% representative variable
Application	~2 minutes, soft credit check first	5-10 minutes, hard credit check
Card type	Visa Business credit card	Visa Business credit card

Where Capital On Tap wins

✓ 0% FX vs Barclaycard's 2.99% — huge for any business with overseas suppliers
✓ Higher credit limits (£250k vs Barclaycard's typical £25k)
✓ £75 welcome bonus with code 2REFY893A52 vs no welcome bonus on Barclaycard
✓ No requirement to bank with Capital On Tap — fully independent
✓ Faster application (2 min vs 5-10 min) with only a soft credit check
✓ Open Banking integrations with Xero, FreeAgent, QuickBooks

Where Barclaycard Select Cashback wins

✓ Higher cashback tier (1.5%) above £10k/month UK spend
✓ Integrated with Barclays business banking — single login, statements, support
✓ Lower representative APR (27.4% vs 34.65%) if you carry a balance
✓ Established high-street brand — useful for some lender / landlord checks

Who should pick which

Pick Capital On Tap if

You want zero FX fees, a fast no-bank-relationship application, a welcome bonus, and higher credit limits — and are happy to manage one extra login.

Pick Barclaycard Select Cashback if

You already bank with Barclays, spend heavily on UK-only suppliers above £10k/month, and prefer consolidated bank statements.

FAQs: Capital On Tap vs Barclaycard Select Cashback

Does Capital On Tap require a business bank account with them?: No. Capital On Tap is independent of any bank — your Direct Debit just needs to come from any UK business bank account (Barclays, Lloyds, HSBC, Tide, Starling, Mettle all work).
Which is better for foreign spend?: Capital On Tap charges 0% FX, Barclaycard Select Cashback charges 2.99%. On £30,000 of annual USD/EUR spend, that's £900/year saved with Capital On Tap.