Best Business Savings accounst?

thegraduate_2

What are the best paying business savings accounts?

I have been trying to find a place to compare business savings accounts and find one paying a reasonable interest rate.
Firstly this has proved very difficult.

abbey and investec has some ok accounts, and appart from this the top payers are all small banks like secure trust bank, butterfeild private bank or some possibly dubious irish banks like allied irish.

Does anyone know any other good deals out there or a place to compare?

Perhaps martin can create a section for business savings etc?

martinman3

Look at http://forums.moneysavingexpert.com/showthread.html?t=2011831

Over the last few months I have always answered this same question by pointing people in the direction of Harpenden Building Society.
They have a business savings account with low minimum balance of £5000, instant access with maximum 25 withdrawals per year, 2.00% gross.
http://www.harpendenbs.co.uk/business-notice.asp

thegraduate_2

Thanks the account from Harpenden Building Society listed above is deffinitly up there 2% is a excellent rate concidering you get 25 withdrawls, only problem is it is only accessable by post or in branch.
Also not sure if its fsa regulated.
the best i could find was a range of acounts with a notice period.


secure trust bank 2.5% 60 days notice
investec high 5 account 2.5% 90 days notice min £25000
butterfeild private bank 2.5% 100 days notice min £50000
if you dont mind putting it away longer the best bet is a bond with standard life, you get 3.1% but is 9 months before you can touch it.

abbey have a savings account that pays 2% with bonus, but only allowed 1 withdrawel a year to get bonus.

if anybody else knows any top paying bonds or accounts please let us know.

Rafter

Moneyfacts have a table of business deposit accounts here

http://www.moneyfacts.co.uk/business/bestbuys/3/business-investment.aspx

As you say though - most of them are fairly small names.

I believe Birmingham Midshires bonds are accessible for charities - not sure about businesses though.

Business and charities do seem to be getting a poor return at the moment, but then regular savers are getting the highest ever 'real' rates of return compared to inflation and the 'risk free' return from gilts or Bank of England, even if the rates themselves seem low by historical standards.

R.

Baldur

thegraduate wrote: »

Also not sure if its fsa regulated.

It is, see FSA Register - 157260 - Harpenden Building Society.

martinman3

thegraduate wrote: »

Thanks the account from Harpenden Building Society listed above is deffinitly up there 2% is a excellent rate concidering you get 25 withdrawls, only problem is it is only accessable by post or in branch.

It doesn't really matter if you are not close to a branch. You only need to send the necessary ID for each director and a copy of the certificate of incorporation to open it along with a form to allow requests for withdrawal by fax.
Once that is setup you can credit it using BACS as well as withdrawing to another company account using BACS after faxing your withdrawal request together with a telephone call for confirmation.

AnAlternativeView

thegraduate wrote: »

Thanks the account from Harpenden Building Society listed above is deffinitly up there 2% is a excellent rate concidering you get 25 withdrawls, only problem is it is only accessable by post or in branch.
Also not sure if its fsa regulated.
the best i could find was a range of acounts with a notice period.


secure trust bank 2.5% 60 days notice
investec high 5 account 2.5% 90 days notice min £25000
butterfeild private bank 2.5% 100 days notice min £50000
if you dont mind putting it away longer the best bet is a bond with standard life, you get 3.1% but is 9 months before you can touch it.

abbey have a savings account that pays 2% with bonus, but only allowed 1 withdrawel a year to get bonus.

if anybody else knows any top paying bonds or accounts please let us know.

It is FSA regulated - all deposit takers have to be.

thegraduate_2

I have found 2 more accounts that have pretty good rates

1. bath building society offers a six month notice account paying 2.7% fsa regulated
2. secure trust bank also has a 120 day notice account paying a massive 3.2%
see http://www.securetrustbank.com/

TheMoneySpider

thegraduate wrote: »

What are the best paying business savings accounts?

I have been trying to find a place to compare business savings accounts and find one paying a reasonable interest rate.
Firstly this has proved very difficult.

abbey and investec has some ok accounts, and appart from this the top payers are all small banks like secure trust bank, butterfeild private bank or some possibly dubious irish banks like allied irish.

Don't know about what else is out there but I do no the Secure Trust Bank rates are pretty good. I originally found them 'cause of their charity account which is definitely one of the best but their business accounts are good too.

http://www.securetrustbank.com/savingaccount.htm

They offer a really good rate on their 120 day business account but you have to be an existing customer (not sure how long you need to have been signed up)