Could your business be missing out on £10k? Bank reveals simple switch (aff)
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Thousands of UK firms are leaving large sums in low-interest accounts. One challenger bank says switching could turn spare balances into serious returns over the next year.
A UK challenger bank is highlighting how businesses could make more from the cash sitting in their accounts – suggesting some firms could earn up to £10,000 over the next year, depending on their balance.
Allica Bank, which has been recognised as one of Europe’s fastest-growing fintechs, offers a business current account that pays interest on eligible balances and includes cashback on certain everyday card spending, all managed through a digital platform.
The bank says the combination of interest and cashback can make a noticeable difference for companies that routinely hold larger sums in their account. For illustration, it suggests that a business maintaining a balance of around £250,000 over a year could generate close to £10,000 in interest, subject to the applicable rate and account terms.
That sort of return doesn’t rely on investing, locking money away, or taking on additional risk. Funds remain accessible, and there’s nothing extra for customers to manage once the account is set up.
On top of interest, Allica Bank also pays cashback on day-to-day purchases, with rates of up to 1.5% on eligible spending. From utilities to office costs, routine transactions can quietly add to a company’s returns.
The account is built around a digital-first platform, with a clear online dashboard and mobile app that allow businesses to monitor balances, manage payments and connect with accounting tools such as Sage and Xero.
Customers also have access to a dedicated relationship manager, offering personalised support when it’s needed.
Switching to Allica Bank is designed to be straightforward through the Current Account Switch Service, with no hidden charges to erode the interest earned.
Opening an account can be done quickly online, making it easy for customers to see whether their cash could be working harder over the next year.
To find out more, click here.
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