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Apply for a business current account

Key benefits:
  • A direct line to your own relationship manager
  • No monthly fees plus up to 1.5% cashback on all eligible card spend*
  • Earn up to 4.83% AER** (variable) on instant access savings

Apply now

*Terms and conditions apply – click to read more.

**Rate includes standard rate of 3.83% 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 13th January 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.

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No monthly fees*

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Up to 4.83% AER** (variable) interest on savings

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Up to 1.5% cashback*

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UK customer support

FSCS Protected

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.

Find out more about your eligibility for FSCS coverage here.

Instant-access

Savings Pot

Our Savings Pot is an exclusive feature of our Business Rewards Account. You can earn up to 4.83% AER* (variable) on savings while you continue to earn from your spending.

  • Earn up to 4.83% AER* (variable) on your company’s spare cash
  • Instant access - deposit and withdraw whenever you like
  • Interest paid monthly
  • FSCS protected (eligible deposits only)
  • An exclusive feature of our Business Rewards Account

Apply now


* Rate includes standard rate of 3.83% 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 13th January 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.

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What is a Business Rewards Account?

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

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

Apply now


* Rate includes standard rate of 3.83% 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 13th January 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.

Up to 4.83% AER* (variable) integrated Savings Pot

Don't just earn cashback. Earn interest on your savings too. Savings Pots are an exclusive feature of the Business Rewards Account.

Up to 1.5% cashback

Earn 1% cashback on your card spend and unlock 1.5% cashback on additional monthly card spend after you spend £10k in a month

Your relationship manager

Get a dedicated relationship manager that will be with you every step of the way. We believe in building relationships, not call centres.

No monthly fees

As long as you continue to meet our eligibility criteria.

Get rewarded for your card spend

Here's how it works...

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1​. Make a card payment

Use it just like your current business bank account and track your payments in the app.

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2. ​Get rewarded

Earn 1% cashback on all eligible card payments, paid at the end of the month.​

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3​. Unlock bonus rewards!

​Spend over £10k in one month and unlock a bonus rate of 1.5% for the rest of the month.​

Sync seamlessly with your Sage or Xero accounting software

Save time by connecting your Allica Bank current account and automatically syncing transaction activity with your accounting software.

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Sync seamlessly with your Sage or Xero accounting software

Save time by connecting your Allica Bank current account and automatically syncing transaction activity with your accounting software.

Empower your business to succeed.

Join Britain's award-winning business bank

Apply now

A Business Rewards Account

built for businesses like yours

Zero monthly fees ✔*
Free Faster Payments ✔*
Free BACS ✔*
1% cashback on card payments ✔
1.5% cashback on card payments after £10k spent in a month for remainder of month ✔
UK-based support team ✔
FSCS protection (if eligible) ✔
Manage using mobile app ✔
Manage on the web ✔
Direct credits in ✔
Multiple director access and cards ✔
Integrate with Sage and Xero ✔
Direct Debits out ✔
Schedule payments ✔
ATM withdrawals ✔
Phone support ✔
CHAPS payments ✔
(For a fee of £20)
Deposit cash ✘
Deposit cheques ✘
Integrated savings pots with up to 4.83% AER interest ✔**
Bulk Payments ✔
(No fees)
Two-person authorisation ✔
Relationship manager ✔

*Terms and conditions apply – click to read more.

**Rate includes standard rate of 3.83% 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 13th January 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.

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Switching bank account? It’s easier than you think.

Switching accounts is hassle-free with the Current Account Switch Service (CASS).*

All your direct debits and standing orders will be moved over to your new account automatically within seven days. Then, after the switch and for the next three years, any money sent to your old account will be redirected to your new one. It’s as easy as…

  • Open your new current account
  • Choose a switch date
  • We’ll do the rest

Find out more about the Current Account Switch Guarantee here.

*Terms and conditions apply – click to read more.

"2023 was an incredible year for Allica. A particular highlight for me was the rollout of our business current account, which is a huge milestone on our mission to give established businesses the full-service relationship banking they deserve."

Richard Davies-1

Richard Davies
CEO
Allica Bank

About Allica Bank

Allica is a bank built especially for established businesses with between 5 and 250 employees.

These businesses make up a third of UK employment and turnover, yet the service they get from the big banks is increasingly impersonal, inconvenient, and poor value. We don’t think that’s right.

Allica Bank is on a mission to give established businesses the no-nonsense banking they deserve. That means a current account with no monthly fees, a relationship manager whose name and number they actually know, and technology that makes life easier, not harder.

It's business banking how it used to be, just better.

 

Terms & conditions

See a full list of:

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

Businesses keeping less than £50,000 in the account may earn a reduced rate of interest or may incur fees.

Apply now

Fill out the form and we'll be in touch to complete your application. 

Your application for a Business Rewards Account is subject to your business meeting our eligibility criteria.
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Frequently Asked Questions

What is a business current account?

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.

How do I open a business current account with Allica Bank?

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.

What do I need to open an Allica Bank business current account?

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.

How do I switch a business current account to Allica?

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.

How can I contact my relationship manager?

Allica’s business current account customers are given a phone number and an email address so that they can contact their dedicated relationship manager directly. If you are an existing customer and you don’t have these contact details, please reach out to our team at rewards@allica.bank.

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Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 821851). Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Registered in England and Wales with company number 07706156.

Allica Bank savings accounts and business current account products are regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allica Bank lending products are not regulated products.

Asset finance and growth finance services are provided by Allica Financial Services Limited trading as Allica Bank Asset Finance. Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Incorporated under the laws of England and Wales with company number 12784979. Allica Financial Services Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The asset finance and growth finance products offered by Allica Bank Asset Finance are not regulated products.

Bridging Finance services are provided by Allica Bridging Finance Limited. Registered office: 3rd Floor 12-18 Grosvenor Gardens, London, England, SW1W 0DH. Incorporated under the laws of England and Wales with company number 10859711. Allica Bridging Finance Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The bridging products offered by Allica Bridging Finance Limited are not regulated products.