Allica business bank account review

Allica Bank aims to offer better banking services to established businesses through modern tools and technology. As well as offering personal and business savings accounts, it’s added a business bank account to its line up.

What is the Allica business bank account?

The Allica Bank Business Account comes with a dedicated relationship manager to help you manage your business finances. The account has no monthly fees, and you’ll receive a debit card, plus virtual or physical expense cards to issue to your team and set spending limits. Your account also syncs to accounting software.

No interest is paid on account balances, but you’ll have access to an exclusive savings pot paying a competitive rate of interest. This account is instant access, so you can make withdrawals whenever needed.

There are no fees for spending or withdrawing cash on your card overseas, plus you earn cashback on every card transaction. You’ll earn:

• 1% cashback on the first £10,000 of monthly card spend
• 1.5% cashback on any spend over £10,000 in a month.

Your cashback is paid into your account each month.

Because Allica Bank has a UK banking licence, deposits of up to £120,000 per person are protected by the Financial Services Compensation Scheme (FSCS). This means your money is covered if the bank were to cease trading. Remember that this will be across the balance in your business account and any funds you have in the savings pot.

Who is it for?

The Allica business account is designed for established businesses based in the UK. It might suit your business if you want to earn something back on your card spending each month or if you regularly travel overseas and want to avoid foreign transaction charges on card purchases and cash withdrawals.

How to open a business current account with Allica?

To apply for Allica’s business account, you can choose between an assisted application and a self-service application.

Self-serve is as you expect, you fill out the application online and it’ll take you 10 minutes. You will need to have a quick call with Allica Bank, but then you should be good to go.

With an assisted application, all you need to do is provide a few details online and then Allica Bank will give you a call to complete the rest of the application over the phone.

Just be aware that the account is designed for establised businesses who have been trading for at least 12 months and keep a balance of £50,000 or more in their account, so check the full eligibility requirements before starting your application.

Allica Bank customer reviews

In Finder’s independent 2025 customer satisfaction survey, 83% of respondents said they would recommend Allica Bank to a friend.

The Allica Bank app has a rating of 4.7 out of 5 from more than 1,500 reviews on the Apple App Store. On the Google Play Store, it has a score of 4.7 out of 5 from around 290 Android app users.

Over on Trustpilot, Allica Bank scores 4.7 out of 5 from more than 1,600 reviews.

These were checked in November 2025.

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