Small Business - need a bank acct that pays interest!

Chris_JY

Hi. We have a small business (a Ltd company) which is very fortunate to usually have an amount of cash in the current account - which doesn't earn very much interest.

Does anybody know of a savings account for a business that offers a better amount of interest? We don't want to have to move our current account as our customers are used to it, but would like to move what we can over for as long as we can! Thanks a lot!

Darth_Trader

Chris - does your current bank offer decent savings accounts? Ordinarily, I reckon it's better to shop around, but I have a current account (personal rather than business) and a savings account with the same high street bank. This enables me to transfer excesses instantly from current account to savings account (rather than it taking 3-4 days). The rate may not be the best you could get by shopping around, but this is offset as, if your business hits a cashflow snag, you can then instantly move some cash back from the savings account. Might be worth talking to your Business Banking Manager, and your accountant. I'm not sure how this would be recorded in your accounts.

prof_writer

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