There should be no cost for switching business accounts or opening a second account. However, when you want to close your existing business account, you will have to pay off your outstanding debts (such as overdraft and credit card debts) before you can close it. In case of opening an additional business account, you need to ensure that you have no commitment towards your current bank to route your finances through them. Especially if your current bank is financing something for you, they might have requested you to provide them with an assignment of proceeds. By sending your sales proceeds to another bank, you would be in breach of your loan agreement.