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After a challenging year for many businesses, business owners may be considering switching to a new business current account or opening a new business credit card. To help narrow down these business owners’ choices, Moneyfacts has revealed its 2021 business current account and credit card star ratings, which highlight the best deals currently available on the market.
Although the number of business current accounts available in the market reduced in size by 9%, 38 accounts were awarded a five-star rating and 17 were awarded a four-star rating. Among the providers offering business current accounts that were awarded a five-star rating by Moneyfacts were Metro Bank, Virgin Money and TSB.
The number of business credit cards available to business owners remained the same this year and, of all business credit cards available, nine were awarded a five-star rating and three were awarded a four-star rating. Business credit card providers awarded a five-star rating include Barclaycard Business, Metro Bank, NatWest and Royal Bank of Scotland.
Commenting on today’s star ratings announcement, Lee Tillcock, editor of Business Moneyfacts, said: “The challenges of the last year have seen the importance of products in the business current account and credit card sectors grow further. The impressive range of features offered to meet the needs of modern-day businesses means that there are plenty of options to consider when choosing a business current account – something that the sector and regulator are clearly keen to promote. Indeed, the CASS Dashboard figures for the first months of 2021 show that business switching volume totals continue to climb. The annual Moneyfacts Business Current Account Star Ratings provide businesses with valuable insight into the quality of the features on offer, before assessing the individual costs.
“It is also encouraging to see providers innovate and increase competition across the business credit card sector. However, as more businesses utilise business credit cards to assist them with keeping in control of expenses and keeping cash flow moving, it is still not easy for business customers to identify which deal will offer the best quality for their specific business needs. The annual Moneyfacts Business Credit Card Star Ratings look at the underlying features of a product, ensuring the business customer finds the most complete product in terms of flexibility and added extras, which will reward them over the longer term.”
Numerous features are considered when assessing the ratings, and some of these include:
Business Current Accounts
Flexibility
Benefits
Features
Business Credit Cards
Flexibility
Charges
Benefits
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today. “The March decline highlights the pressure the economy is now coming under from the cost of living squeeze and the danger of it falling into outright recession later this year,” said Rupert Thompson, Investment Strategist at Kingswood. The services sector, which includes contributions from education, arts and entertainment, and food service among others, fell 0.2% last month and was the main contributor to this decline.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today.
The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living. The latest Consumer Price Index (CPI) was recorded at 6.2% this morning. This means inflation has hit a new 30 year high, which will only exacerbate the cost of living. “This is the highest CPI 12-month inflation rate in the National Statistic series which began in January 1997, and the highest rate in the historic modelled series since March 1992, when it stood at 7.1%,” the Office for National Statistics (ONS) stated. The rise can be attributed to a number of diverse contributions. This included a bump in prices for clothing, footwear, toys and other recreational goods, said the ONS.
The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living.
Strong Customer Authentication regulation will now require online shoppers to verify themselves before paying at the checkout after £376 million was lost to online fraud in 2020. Strong Customer Authentication (SCA), which has been endorsed by the Financial Conduct Authority (FCA) and UK Finance, will be in place from today. These regulations have been enforced as an attempt to reduce the £376 million lost in online fraud in 2020, according to Barclaycard.
Strong Customer Authentication regulation requires online shoppers to verify themselves before the checkout after £376 million was lost to fraud in 2020.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today. “The March decline highlights the pressure the economy is now coming under from the cost of living squeeze and the danger of it falling into outright recession later this year,” said Rupert Thompson, Investment Strategist at Kingswood. The services sector, which includes contributions from education, arts and entertainment, and food service among others, fell 0.2% last month and was the main contributor to this decline.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today.
The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living. The latest Consumer Price Index (CPI) was recorded at 6.2% this morning. This means inflation has hit a new 30 year high, which will only exacerbate the cost of living. “This is the highest CPI 12-month inflation rate in the National Statistic series which began in January 1997, and the highest rate in the historic modelled series since March 1992, when it stood at 7.1%,” the Office for National Statistics (ONS) stated. The rise can be attributed to a number of diverse contributions. This included a bump in prices for clothing, footwear, toys and other recreational goods, said the ONS.
The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living.
Strong Customer Authentication regulation will now require online shoppers to verify themselves before paying at the checkout after £376 million was lost to online fraud in 2020. Strong Customer Authentication (SCA), which has been endorsed by the Financial Conduct Authority (FCA) and UK Finance, will be in place from today. These regulations have been enforced as an attempt to reduce the £376 million lost in online fraud in 2020, according to Barclaycard.
Strong Customer Authentication regulation requires online shoppers to verify themselves before the checkout after £376 million was lost to fraud in 2020.
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