Questions and answers

View our most frequently asked questions about business savings accounts.

Here are some things you might find useful

Our business savings accounts have been created for small and medium sized UK-based businesses that have:

  • Fewer than 250 employees.
  • A total balance sheet of less than £36.5m or a turnover of less than £42.5m.
  • All owners, directors, senior management and account signatories over 18 years old.

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 ring-fenced institution.
  • 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.

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, 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.

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.

There aren't any account fees.

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.


Get in touch

0345 606 7687

We're here from 8am to 8pm Monday to Friday, 8am to 4pm Saturday and 10am to 3pm Sunday.

Calls to 03 numbers are the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discounts schemes in the same way.

Calls may be monitored and recorded.


Existing customers

Check interest rates on withdrawn products and download useful information about your account.