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.
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
Small businesses rely on having suitable funding streams to grow effectively, but unfortunately, it ... More
For a long time the UK’s small businesses have kept their heads down, viewing the future with cautio... More
Smaller businesses have had it tough since the financial crisis. Securing suitable funding has been ... 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
Unimpressed by the returns on your business’ savings account? Here’s the lowdown on an increasingly ... More
Aldermore has increased the rate on its easy access business savings account by 0.10%, securing it a... More
Teachers Building Society has increased the rate on its one-year fixed rate business bond by 0.15%, ... More
Manchester Building Society has launched a new issue of its popular business tracker account, which ... More
Teachers Building Society has reviewed its business accounts and replaced its popular 75 day notice ... More
Cambridge & Counties Bank has raised the rate on its popular 95 day notice business account to cemen... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.