Top Small Biz Savings Accounts

kennedylanduk wrote: »

Is Kent Reliance covered by the £85k FCA guarantee? I cannot post links to websites (I'm a new user) on the FCA website, Kent Reliance are listed as "No longer authorised"

But I know Kent Reliance are owned by OneSavings (which are covered). So a little confused.

They state HERE that "Your money is Protected. We subscribe to the Financial Services Compensation Scheme as One Savings Bank, which means your eligible deposits with Kent Reliance are protected up to a total of £85,000."

The companies, Kent Reliance Property Loans, Kent Reliance Banking Services, kent reliance, krbs & Rochester Mortgages are listed on the FSCS website as "Trading/Brand names" of One Savings Bank, so you should be covered as a small business.

No harm in checking with Reliance though if and when you decide to open an account.

Also, just as important in terms of cover, is if your company is classed as a small business.

I'm just reviewing the interest rates payable on small business instant access savings accounts again, and quite like the look of the Virgin Money 'Business Access Account Issue 2', paying 1.01% AER.

For instant access they appear to be top, and, also, although it's unlikely I'd be able to use it, it gives free access to Virgin Money Lounges. It's also covered by the FSCS up to £85,000 for most SME's.

Aldermore are a smidgen below, at negligible difference, being 1.00% AER.

Both are accessible online, so it's likely, and worthwhile now, IMHO, (interest rates are now starting to be worth the move), that I'm going to move us over from our old Santander account now, paying only 0.35% AER. Unless anyone has some other ideas, but it needs to be instant access and allowing online management?

worldtraveller wrote: »

I'm just reviewing the interest rates payable on small business instant access savings accounts again, and quite like the look of the Virgin Money 'Business Access Account Issue 2', paying 1.01% AER.

For instant access they appear to be top, and, also, although it's unlikely I'd be able to use it, it gives free access to Virgin Money Lounges. It's also covered by the FSCS up to £85,000 for most SME's.

Aldermore are a smidgen below, at negligible difference, being 1.00% AER.

Both are accessible online, so it's likely, and worthwhile now, IMHO, (interest rates are now starting to be worth the move), that I'm going to move us over from our old Santander account now, paying only 0.35% AER. Unless anyone has some other ideas, but it needs to be instant access and allowing online management?

For further information, we wen't ahead and switched over to the Virgin Money 'Business Access Account Issue 2'. It was very straight forward to open online, with just one mandate to post to them. All set up within 10 days from application and easy to manage online using our nominated business current account with another bank.

The Aldermore Easy Access Account now pays only 0.50% AER, so the information in Top business savings is no longer correct.