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.”
