Compare business notice accounts

Opening a business savings account means your business will have money to fall back on in an emergency. You can also earn interest on that money - and with interest rates rising, savings accounts have become a lot more competitive in recent months. Let's look at how business notice accounts work.

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Product	Interest rate and type	Interest paid	Invest	Term	Open via
United Trust Bank – Business 180 Day Notice Base Rate Tracker	4.5% AER variable	Yearly	£5,000 - £5,000,000	180 days notice	Open via: website, post.	Go to site View details	loading Fetching your data...
Cynergy Bank – Business Notice Saver (Issue 3)	4.6% AER variable	Monthly	£5,000 - £10,000,000	180 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Cynergy Bank – Business Notice Saver (Issue 3)	4.55% AER variable	Monthly	£5,000 - £10,000,000	120 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Close Brothers Savings – SME 95 Day Notice Account (Issue 5)	4.55% AER variable	½ Yearly	£25,000 - £1,000,000	95 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Close Brothers Savings – 95 Day Corporate Notice Account (Issue 7)	4.55% AER variable	½ Yearly	£250,000 - £10,000,000	95 days notice	Open via: post.	Go to site View details	loading Fetching your data...
Shawbrook Bank – 100 Day Notice Business Savings Account Issue 21	4.51% AER variable	Anniversary of account opening	£5,000 - £2,000,000	100 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Shawbrook Bank – 100 Day Notice Business Savings Account Issue 21	4.51% AER variable	Monthly	£5,000 - £2,000,000	100 days notice	Open via: website.	Go to site View details	loading Fetching your data...
United Trust Bank – Charity 180 Day Notice Base Rate Tracker	4.5% AER variable	Yearly	£5,000 - £5,000,000	180 days notice	Open via: website, post.	Go to site View details	loading Fetching your data...
Cynergy Bank – Business Notice Saver (Issue 3)	4.5% AER variable	Monthly	£5,000 - £10,000,000	95 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Allica Bank – 180-Day Notice Savings Account (Issue 1)	4.45% AER variable	Anniversary of account opening	£20,000 - £2,000,000	180 days notice	Open via: website.	Go to site View details	loading Fetching your data...
Chorley Building Society – 120 Day Notice Business Account	4.4% AER variable	Yearly	£1,000 - £500,000	120 days notice	Open via: branch, post.	Go to site View details	loading Fetching your data...
Market Harborough BS – Charity 180 Day Notice Account	4.4% AER variable	Yearly	£25,000 - £500,000	180 days notice	Open via: branch, post.	Go to site View details	loading Fetching your data...
Market Harborough BS – Club 180 Day Notice	4.4% AER variable	Yearly	£25,000 - £500,000	180 days notice	Open via: branch, post.	Go to site View details	loading Fetching your data...
Market Harborough BS – Business 180 Day Notice Account	4.4% AER variable	Yearly	£25,000 - £500,000	180 days notice	Open via: branch, post.	Go to site View details	loading Fetching your data...
Allica Bank – 95-Day Notice Savings Account (Issue 1)	4.4% AER variable	Anniversary of account opening	£20,000 - £2,000,000	95 days notice	Open via: website.	Go to site View details	loading Fetching your data...

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What is a business notice savings account?

A business notice savings account is a type of business account that requires you to give notice before you can access your money. The amount of notice you need to give can vary dramatically, but generally, the longer the notice period, the better the interest rate you’ll receive.

Overall, notice accounts pay higher rates of interest than savings accounts that let you access your money instantly. However, rates might not be as high as with a fixed-rate bond, where you’re required to lock away your business funds for a set time.

How does a business notice account work?

Business notice savings accounts work similarly to other savings accounts, but they require you to notify the provider ahead of time if you want to make a withdrawal.

How much notice is required varies depending on the account and the provider, but it’s usually anywhere between 30 and 180 days. When comparing notice accounts, you’ll need to consider how far you can plan ahead to work out how much notice you can realistically give before withdrawing funds. In some cases, you might be able to access your money faster, but you’ll usually pay a penalty.

It’s also important to check minimum and maximum deposit requirements to be sure you can meet them. You can usually add to your funds as and when you need to.

Are my savings protected by the FSCS?

As long as your savings account is with a bank or building society authorised by the Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA), your savings will be covered by the Financial Services Compensation Scheme (FSCS) up to a limit of £85,000.

However, if your savings is with an e-money provider, your funds won’t be protected by the FSCS. Instead, as long as the provider is regulated by the FCA, your money will be held in segregated accounts, so if the provider ceases trading, you should still get your money back.

Are there any other alternatives?

Yes, there are a number of other types of business savings account to consider. If you’d prefer to access your money whenever you need it, a business easy access account would be more suitable. However, interest rates are generally lower than notice accounts.

Alternatively, if you’re prepared to lock away some of your business savings for a period of between 1 and 5 years, you will earn an even higher rate of interest with a business fixed-rate bond. However, you can’t access your money during this time, and you usually can’t add to your savings either.

Bottom line

Business notice accounts can offer a good compromise between an easy access account and a fixed-rate bond. You’ll typically earn a higher rate of interest than an easy access account, but you won’t need to lock away your funds for a lengthy period as you would with a fixed-rate bond.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

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