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    • worldtraveller
    • By worldtraveller 16th Sep 16, 7:45 PM
    • 12,021 Posts
    • 24,382 Thanks
    worldtraveller
    You can set up as a business on most p2p sites. We signed up wth Growth Street recently and get 6.5%, only 30 days notice, and the have a default shield to protect against bad debt.
    Originally posted by charlie__brown
    Good luck! However, personally, I wouldn't touch such a company with a barge-pole, let alone my company savings.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
    • yorkiebar
    • By yorkiebar 12th May 17, 8:12 PM
    • 729 Posts
    • 241 Thanks
    yorkiebar
    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
    • By wolfysmith 29th Sep 17, 1:07 PM
    • 26 Posts
    • 2 Thanks
    wolfysmith
    Aldermore
    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 I rang Aldermore..... 0.85% was withdrawn in January 2017......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
    • Aquamania
    • By Aquamania 29th Sep 17, 5:20 PM
    • 1,990 Posts
    • 803 Thanks
    Aquamania
    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 I rang Aldermore..... 0.85% was withdrawn in January 2017......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
    Originally posted by wolfysmith
    The article states
    Archived September 2016
    • richjdavies
    • By richjdavies 7th Nov 17, 9:28 AM
    • 4 Posts
    • 1 Thanks
    richjdavies
    I found this site to be very useful for finding the best rates:
    investment sense co uk
    (sorry had to remove links

    but they are sometimes a little bit behind... so I tend to also check moneyfacts. It is more up to date, but they sometimes miss ones...

    Anyone else got any good comparison sites?
    I found AkoniHub the other day, but couldn't be bothered to login...

    I remember a few years ago I was contacted by a 'business deposit' comparison site that seemed quite good - they would just move the money around for you, I think - and had a handy table showing instant / 3 months/ 1 yr etc... and the rates. Anyone know what I might be thinking of? Would love to find it again.

    Finally - anyone had any luck with Close Brothers Treasury?
    • jogu
    • By jogu 25th Nov 17, 12:06 PM
    • 45 Posts
    • 30 Thanks
    jogu
    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
    • By FooBaa 26th Dec 17, 4:02 PM
    • 1 Posts
    • 0 Thanks
    FooBaa
    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.
    • jogu
    • By jogu 26th Dec 17, 7:10 PM
    • 45 Posts
    • 30 Thanks
    jogu
    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.
    Originally posted by FooBaa

    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
    • By garybarlowsbeard 4th Jan 18, 1:41 PM
    • 361 Posts
    • 563 Thanks
    garybarlowsbeard
    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
    • worldtraveller
    • By worldtraveller 4th Jan 18, 4:20 PM
    • 12,021 Posts
    • 24,382 Thanks
    worldtraveller
    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
    Originally posted by garybarlowsbeard

    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.
    Last edited by worldtraveller; 04-01-2018 at 4:29 PM.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
    • KitchenManMatt
    • By KitchenManMatt 24th Jan 18, 10:34 AM
    • 1 Posts
    • 2 Thanks
    KitchenManMatt
    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
    Originally posted by garybarlowsbeard
    Hi, Yes we ping money back and forth between our business current account and some business savings accounts as we need it. Best of the instant access we use at the moment is Kent Reliance. They are paying 0.9% for instant access and it's all online and was really easy to set up.

    kentreliance.co.uk/business-savings-account
    • kennedylanduk
    • By kennedylanduk 5th Feb 18, 4:32 PM
    • 2 Posts
    • 0 Thanks
    kennedylanduk
    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.
    • worldtraveller
    • By worldtraveller 5th Feb 18, 7:25 PM
    • 12,021 Posts
    • 24,382 Thanks
    worldtraveller
    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.
    Originally posted by kennedylanduk
    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.
    Last edited by worldtraveller; 05-02-2018 at 7:41 PM.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
    • kennedylanduk
    • By kennedylanduk 5th Feb 18, 7:35 PM
    • 2 Posts
    • 0 Thanks
    kennedylanduk
    Thanks, I'll give them a call before opening an account.

    Also, just as important in terms of cover, is if your company is classed as a small business.
    Originally posted by worldtraveller
    Yes, we definitely are classed a small business.
    • worldtraveller
    • By worldtraveller 7th Oct 18, 12:50 PM
    • 12,021 Posts
    • 24,382 Thanks
    worldtraveller
    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?
    Last edited by worldtraveller; 07-10-2018 at 2:32 PM.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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