Important information

Further information about our Business Rewards Account:

Eligibility criteria

Our Business Rewards Account is a current account designed for established businesses who:

  • are incorporated for a minimum of 12 months
  • keep a balance of £50,000 or more in their account
  • or have a loan product with us

See Key Product Information for further information.

Savings Pot

Rate includes standard rate of 3.58% AER, plus a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (CASS). Rates correct as of 11th February 2025. 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Cashback

Cashback is variable based on eligibility and spend. See a full list of limits and fees here.

Eligibility criteria

To be eligible, your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can access a range of hard, medium and soft assets including manufacturing equipment, transportation, plant and machinery, materials handling equipment, textile equipment, robotics, medical equipment, scaffolding, telecoms and more.

Eligibility criteria

UK-registered limited companies, typically with two years of full financial accounts. Your business must be based in England, Scotland or Wales and trade on a business-to-business basis.

Eligibility criteria

Your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can include those trading from freehold/long leasehold property in England, Scotland and Wales e.g. offices (including professional practices), industrial units, mixed-use, warehouses, factories, retail, hotels, guest houses, restaurants, public houses, convenience stores and children’s day nurseries. Security will be required.

Eligibility criteria

Available for UK registered limited companies, LLPs, partnerships and sole traders in England, Scotland and Wales.
 

How business banking used to be – just better

Explore our business bank account

Switch to a rewarding business bank built especially for established businesses. With great rates, no monthly fees, and a dedicated relationship manager, it’s time you got more from your bank.

The bank account for established businesses

1 Rate includes standard rate of 3.58% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 11th February 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

2 Cashback is variable based on eligibility and spend. See a full list of limits and fees here.

3 Terms and conditions apply.

Our Services

More than just a bank account

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Savings

Put your company cash to work in one of our fixed-term, notice and easy-access accounts.

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Commercial mortgages

Whether you’re buying new premises, diversifying your revenue or refinancing to release capital, choose from our range of investment or owner-occupied commercial mortgages.

Learn more

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Asset finance

Borrow £25,000 to £1 million to buy tools and equipment for your company.

Learn more

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Bridging finance

Strike while the iron is hot. Short-term lending with Allica means you don’t have to wait when an opportunity presents itself. Packages start at just £150,000 and up to 75% LTV.

Learn more

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Growth finance

If you’re an established UK company with at least £5 million in turnover, get up to £10 million in growth finance to help your business reach its goals with Allica.

Learn more

what makes allica different

Real relationship banking

It’s not just what makes us different – it’s who. A name and number you actually know. Someone that can help you unlock opportunities and solve problems.

Got a question? You might find the answer in our help centre. Otherwise, connect with our UK-based team below.

We’re giving established businesses the banking they deserve

Established businesses are those firms with 5–250 employees. They’re a vital part of our communities but they’re being let down by the big banks.
 
Allica was built specifically to meet the unique needs of businesses like these.

See the difference a better bank can make

You’ve got questions.
We’ve got answers.

Allica are a no-nonsense bank built specifically to give established businesses with between 5 and 250 employees the banking they deserve.

We got our banking licence in 2019 and have grown quickly since then, being named in the 2024 Sunday Times 100 list of fastest-growing private companies.

Allica has offices in Milton Keynes, London and Manchester, and relationship managers up and down the country helping to give established businesses the banking they deserve.

Yes! All our current accounts and savings accounts are covered by the Financial Services Compensation Scheme (FSCS). This means that, should anything happen to Allica Bank, any eligible deposit of up to £85,000 will be protected. 

Keep in mind this compensation covers all your accounts with Allica Bank , not each individual account. For example, if you have a total of £100,000 in two separate accounts with Allica Bank, the maximum compensation you could claim on your Allica’s deposits through FSCS is £85,000.

Find out more about your eligibility for FSCS coverage here

You can open a Business Rewards Account with Allica by completing our online application form (you can find it here). We’ll then give you a quick call to finish your application and answer any questions you have. So long as everything’s in order, your account should be opened within a few days.

There’s a few things we’ll need to check before we can open an account for you, including confirming the identity of your business and of its shareholders and directors (including any beneficial owners) to help combat fraud. We will aim to do as much of this automatically as we can, but it’s possible you’ll be asked to provide digital copies of identity documents and a proof of address.

We’ll also ask for your Company Number at Companies House so we can run a few checks on your business. 

Once you’ve made your application, we’ll aim to have your account open in just a few working days.

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Help, my question isn’t answered here.

Don’t worry, find the answer in our Help Centre or speak to our team on 0330 094 3333.

Explore business banking with Allica Bank

The bank account for established businesses.

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