This UK bank says some customers could earn up to £10,000 a year in interest
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A fast-growing British bank says customers with higher account balances could earn significant interest and cashback through its new account
A fast-growing UK challenger bank says some customers could earn up to £10,000 a year in interest by holding larger balances in its account.
Allica Bank, a British lender that became Europe’s fastest-growing startup last year, offers an account designed to make idle cash work harder. It pays interest on balances, offers cashback on everyday spending, and is built around a fully digital, low-hassle setup.
According to the bank, this could make a meaningful difference for companies that routinely keep significant funds in their accounts.
Using Allica’s calculator, a customer who typically holds around £250,000 could earn roughly £10,000 in interest over 12 months, based on current rates. The interest is earned simply by maintaining a qualifying balance, without needing to invest funds or take on market risk.
On top of interest, Allica Bank also offers cashback on routine spending — up to 1.5% in some cases. From office supplies to utility bills, everyday transactions can generate additional returns and help strengthen the bottom line.
The account is digital-first, with an online dashboard and mobile app that allow customers to view balances, track payments and connect to accounting software such as Sage or Xero. Businesses also have access to a dedicated relationship manager when support is needed.
Switching is designed to be straightforward through the Current Account Switch Service. There are no monthly account fees, and opening an account can be completed online in just a few clicks.
To find out more and see whether your business could earn up to £10,000 a year in interest, find out more here.
Allica Bank is changing how UK businesses make their money work harder. Its Business Rewards Account offers high interest on idle cash and up to 1.5% cashback on everyday spending - without the need for risky investments or complex setups. With a fully digital platform, seamless integration with Sage or Xero, and dedicated relationship managers, it’s a smarter way to manage your funds and boost your bottom line.
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