Aldermore Business Savings Account - any experiences?

DoctorW

Hi all,

For the business owners out there, wondering whether anyone has any experience with an Aldermore Business Saver?

Was thinking about going with them instead of the paltry Business Reserve Account I have with Santander (paying around 0.40% interest). I have around 30-40k on average sat stagnating in the Reserve Account and would like to make it work a bit harder.

Up to £85k I think it'd be worth a go but always like to open up these thoughts to the MSE community first....

Thanks in advance,

D

LHW99

We changed our Santander business savings to Aldermore last summer - primarily because Santander kept playing around with the business savings account(s) we had, changing the type of account twice in 6 months, and reducing interest rates several times.
We have only around £10k in the Aldermore, but found it (amazingly) easy to open and it has been easy to use.
Be aware that you need to nominate another business account to which payments are made, there is no possibility to make payments to a range of other accounts.
That hasn't been a problem as we just transfer into the business current account (at Santander) when needed and pay bills from that.

Freecall

We opened an Aldermore Business Savings account about 3 years ago and have found their general admin an efficiency to be first class.

As with most banks different rates come up at different times of course but overall I would say that their service is much better than the regular high-street names.

isofa

We've found it fantastically easy to use, when we've needed to ring up and check something (only once), the staff were extremely helpful. Moving money is very straightforward (you can only move out to you nominated business current account, but that's not a problem), funds usually clear in a few hours if you move in the morning [for us at least with the linked Lloyds account]. Moving funds in is easy, just BACS it in from your business current account - childs-play.

We keep 95% of our business funds in this account, just moving to and fro to pay bills, wages, VAT etc and the interest not only covers the banking fees with our current account but makes us a small profit each year too.

I'd recommend them without hesitate, far better than high street offerings.

ctdctd

Another plus vote here - easiest Business account I've ever opened.

Website can be a bit slow but it works and deposits and withdrawals via current account have been fine.

lovinituk

Just opened 2 accounts with them following this thread

Borrowedtune

Been with them for over 2 years, no problems at all, very easy to use.

BarleyGB

Another plus vote here, been using them for 14 months, no problems at all, but then my dealings have been pretty simple, transferring the odd amounts in and out as a place to hold money and gain some interest albeit very small % (but better than nothing in business banking).

Done about a dozen transfers in and out.

Does what it says on the tin.

block10

Yet another plus vote from me, have two biz accounts with them. Really easy to open an account online unlike some of the competition.

DoctorW

Haha well that sounds pretty unanimous...i'll go for it!

Thanks a lot for all your replies