Top Small Biz Savings Accounts
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Kent Reliance currently offering 0.9% instant access, that's the best instant access business account I've found.
http://www.kentreliance.co.uk/0 -
MSE biz savings page...who is doing the QA on your website ?
Top instant-access savings: Aldremore 0.85% AER
The Aldermore Easy Access Account pays 0.85% AER on £1,000 up to £1 million. You'll get just 0.05% interest if your balance slips below £1,000.
You can make any number of deposits or withdrawals, and can open and operate the account online.
I opened an online account today ...... its 0.5%....... I rang Aldermore..... 0.85% was withdrawn in January 2017......
Martin, are you going to make me whole for the 0.35% difference that Aldermore wont be paying me?
Andy0 -
wolfysmith wrote: »MSE biz savings page...who is doing the QA on your website ?
Top instant-access savings: Aldremore 0.85% AER
The Aldermore Easy Access Account pays 0.85% AER on £1,000 up to £1 million. You'll get just 0.05% interest if your balance slips below £1,000.
You can make any number of deposits or withdrawals, and can open and operate the account online.
I opened an online account today ...... its 0.5%....... I rang Aldermore..... 0.85% was withdrawn in January 2017......
Martin, are you going to make me whole for the 0.35% difference that Aldermore wont be paying me?
Andy
The article statesArchived September 20160 -
I found this site to be very useful for finding the best rates:
investment sense co uk
(sorry had to remove links
but they are sometimes a little bit behind... so I tend to also check moneyfacts. It is more up to date, but they sometimes miss ones...
Anyone else got any good comparison sites?
I found AkoniHub the other day, but couldn't be bothered to login...
I remember a few years ago I was contacted by a 'business deposit' comparison site that seemed quite good - they would just move the money around for you, I think - and had a handy table showing instant / 3 months/ 1 yr etc... and the rates. Anyone know what I might be thinking of? Would love to find it again.
Finally - anyone had any luck with Close Brothers Treasury?0 -
CCbank are now offering 1.35% on their 31day notice business savings account. It doesn't show on their website yet as it doesn't kick in till 1st December, but I had a letter yesterday stating they're passing on the full 0.25% increase in the BoE rate from 1st Dec. I presume that'd apply to new accounts too.0
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End of Dec now and still nothing on CCbank site. They only have fixed term bonds (3 or 5 year) with no withdrawals allowed before end of term. Maybe they no longer do the 31 day notice account for new customers.0
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End of Dec now and still nothing on CCbank site. They only have fixed term bonds (3 or 5 year) with no withdrawals allowed before end of term. Maybe they no longer do the 31 day notice account for new customers.
Yep, looks like they've withdrawn the notice account now unfortunately (it was still available when I made my post).
I guess just keep an eye on it - they may well release a new notice account within the next few months.0 -
Hi
Sorry to be really thick but basically we've never considered a savings account for our business. My friend and I have a limited company and the business account pays no interest.
Prior to paying our quarterly dividends, tax bill etc, we may have £10k-£50k sat earning nothing. I realise this probably sounds like a stupid question but just want to make 100% sure I'm not missing anything.
Could we simply open an instant access savings account and transfer cash from our main account to that, garner the interest and then move money back as and when it was needed to pay bills etc?
If so, any help/advice on the best instant access currently available would be much appreciated.
Cheers!
GBB0 -
garybarlowsbeard wrote: »Hi
Sorry to be really thick but basically we've never considered a savings account for our business. My friend and I have a limited company and the business account pays no interest.
Prior to paying our quarterly dividends, tax bill etc, we may have £10k-£50k sat earning nothing. I realise this probably sounds like a stupid question but just want to make 100% sure I'm not missing anything.
Could we simply open an instant access savings account and transfer cash from our main account to that, garner the interest and then move money back as and when it was needed to pay bills etc?
If so, any help/advice on the best instant access currently available would be much appreciated.
Cheers!
GBB
Yes, you can, GBB. I'd personally just check out one or more of the comparison sites which have a business account section, such as moneyfacts.co.uk, and then more comprehensively research the account(s) available that fit in with what you want. It sounds like you just want instant access and I know that Aldermore and Nationwide have these available, amongst others. However I believe that Aldermore handles everything online, but you have to use email, post or fax for withdrawals with the Nationwide account.
Like any other bank or building society, best to ensure your money is protected (up to a total of £85,000) by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. It sounds like your business is probably still small enough to be covered by the scheme.
Hope that helps.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
garybarlowsbeard wrote: »Hi
Sorry to be really thick but basically we've never considered a savings account for our business. My friend and I have a limited company and the business account pays no interest.
Prior to paying our quarterly dividends, tax bill etc, we may have £10k-£50k sat earning nothing. I realise this probably sounds like a stupid question but just want to make 100% sure I'm not missing anything.
Could we simply open an instant access savings account and transfer cash from our main account to that, garner the interest and then move money back as and when it was needed to pay bills etc?
If so, any help/advice on the best instant access currently available would be much appreciated.
Cheers!
GBB
Hi, Yes we ping money back and forth between our business current account and some business savings accounts as we need it. Best of the instant access we use at the moment is Kent Reliance. They are paying 0.9% for instant access and it's all online and was really easy to set up.
kentreliance.co.uk/business-savings-account0
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