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.
The UK Government has proposed to increase the deposit protection level from £75,000 to £85,000 of eligible deposits from 30 January 2017.
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 "Small Business" will be protected by the Financial Services Compensation Scheme if it meets two of the following:
Larger businesses will not be covered by the scheme.
The Financial Services Compensation Scheme protects the first £75,000 an eligible business has held under a single UK banking licence.
Please send me emails with the latest Moneyfacts news, best buy products and specially selected third party offers
Are you in the field of business finance? Then you’ll be familiar with the Business Moneyfacts Award... More
Building up a cash buffer can be a vital part of business management, particularly in uncertain time... More
Running a successful company demands strong organisational skills, business acumen and a keen eye fo... More
The winners of the 2016 Business Moneyfacts Awards were announced last night at the prestigious Lanc... More
Earlier this year, the 2015 Business Moneyfacts Awards took place at a gala ceremony held at the Lan... 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
Manchester BS has launched a new 45-day notice business account, which has entered the Best Buy char... More
Bank of Cyprus has reduced rates across its range of business accounts. Despite this, its one-year b... More
Aldermore has reduced the rates paid on select business savings accounts by up to 0.25%; however, it... More
United Bank UK has reduced the rates paid on selected business bonds, but its one-year deal has prov... More
United Bank UK has increased the rates paid on its fixed bonds by up to 0.53%. One of the accounts t... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.