Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
A deposit account is basically a business savings account. You might want to consider a business deposit account if your business has a large cash surplus that you’d like to be earning some interest on, either to act as a reserve, or to save for new equipment, a staff outing or as a deposit on larger premises.
Whatever the reason for saving, you want your money to be earning as much interest as it can, instead of languishing in your business’ current account where it may not be earning as much.
Business deposit accounts can allow instant access to your money, or require you to give notice before withdrawing funds so think about how much access your business might need to this money before choosing an account.
Money held in a business savings account may fall under the protection of the Financial Services Compensation Scheme.
A smaller business’ savings may be protected if it meets two of the following:
The Financial Services Compensation Scheme protects the first £85,000 an eligible business has held under a single UK banking licence. Some banks and building societies share a licence, so it’s best to spread money between institutions to make sure it’s protected.
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
Earlier this year, the 2015 Business Moneyfacts Awards took place at a gala ceremony held at the Lan... More
The world of business finance gathered together last night to celebrate the 2015 Business Moneyfacts... More
Having the right insurance is a vital part of any business, but unfortunately, not all companies are... More
Being able to make international payments swiftly, simply and, above all, cost-effectively, will be ... More
September was a record month for lending to small and medium-sized enterprises (SMEs), figures from ... More
Is your charity business account paying little interest? Find the best paying charity accounts here... More
When it comes to the day-to-day running of your business, the financial product that you need to be ... More
United Bank UK has reduced the rate of its one-year fixed business bond, but despite this, it has re... More
Bank of Cyprus UK has increased the rates of its fixed rate bonds, securing its one-year deals place... More
Aldermore has amended its business deposit accounts by up to 0.24%, sending its one-year fixed bond ... More
Aldermore has increased the rate of its one-year business bond by 0.25%, cementing its position at t... More
Hampshire Trust Bank has unleashed a 100-day business notice account and one-year business bond onto... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.