Questions and answers

They're not designed for:

• UK pension schemes
• UK public authorities
• Charities, church bodies and places of worship
• Trusts and foundations
• Clubs and societies

They're also not for businesses that:

• Operate within sanctioned countries – Iran, Syria, North Korea, North Sudan, South Sudan or Crimea.
• Have an ownership structure of more than three tiers.
• Have bearer shares within their ownership structure.
• Are looking to use the account for money held or received for a client (often known as Client Accounts).
• Are a Relevant Financial Institution under ring-fencing rules.
• Are a shell bank, unlicensed bank, consumer credit agency or Scottish Limited Partnership.
• Undertake money services business as a primary or secondary business activity.
• Facilitate human trafficking.
• Are known or suspected of money laundering, terrorist financing, WMD proliferation or tax evasion.

There aren't any account fees or charges.

The minimum deposit to open this account is £1. The account will pay an interest rate of 0.10% Gross P.A.¹ until the minimum amount has been paid in. The maximum deposit limit is £2,000,000.

We class SMEs as having fewer than 250 employees, and either a total balance sheet not exceeding £36.5 million or turnover not exceeding £42.5 million, based on your most recent annual accounts.

Yes, each business group can save up to a maximum of £2 million across all of the group's business savings accounts. Each account will be subject to the interest rates at the time you apply.

Yes, but each business needs its own account. Each business group can save up to £2 million across all of the group's business savings accounts. Each account will be subject to the interest rates at the time you apply.