A business current account is a lot like your personal current account, but with features designed especially for businesses.

You can use it for your day-to-day transactions, such as paying for goods or services or paying your employees and can get a card to pay for things in-store or online. Every business bank account is different, though. You can find out all about the features of our business current account – the Business Rewards Account – on this page.

You can start your journey with Allica Bank by applying for a Business Rewards Account here. If your business fulfils our eligibility criteria, our team will give you a call to complete your application.

You’ll need to provide information about yourself and your business, such as your name, address and contact details, and we’ll also ask you to upload a form of ID, such as your passport of driving licence. We will then run a few checks to make sure it’s really you.

You’ll also need to provide some information about your company, including the nature of your business, annual turnover, Companies House details, and details of any directors with significant control.

We ask for this information to understand why you are opening the account, what you intend to use it for, and the source of the money you’ll be putting into it. This is necessary for us to protect against the risks of financial crime and money laundering.

You can switch to Allica using the Current Account Switching Service, which was introduced to make switching accounts easier. All your direct debits and standing orders are moved over to your new account automatically within seven days. After the switch (and for the next three years) any money sent to your old account will be redirected to your new one. There are three main steps:

• Open your new current account
• Choose a switch date
• The bank you’re switching to does the rest

Find out more about the Current Account Switch Guarantee here.