Top Small Biz Savings Accounts

Kent Reliance currently offering 0.9% instant access, that's the best instant access business account I've found.

http://www.kentreliance.co.uk/

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 I rang Aldermore..... 0.85% was withdrawn in January 2017......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 states

Archived September 2016

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.

FooBaa wrote: »

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Yep, looks like they've withdrawn the notice account now unfortunately (it was still available when I made my post).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.

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.