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\u2019s added a business bank account to its line up. <\/p>
No interest is paid on account balances, but you\u2019ll 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. <\/p>
There are no fees for spending or withdrawing cash on your card overseas, plus you earn cashback on every card transaction. You\u2019ll earn:<\/p>
Your cashback is paid into your account each month.<\/p>
Because Allica Bank has a UK banking licence, deposits of up to \u00a3120,000 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.<\/p>
Self-serve is as you expect, you fill out the application online and it\u2019ll take you 10 minutes. You will need to have a quick call with Allica Bank, but then you should be good to go. <\/p>
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. <\/p>
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 \u00a350,000 or more in their account, so check the full eligibility requirements before starting your application. <\/p>\n \n