<iframe src="https://www.googletagmanager.com/ns.html?id=GTM-PBKPPGL" height="0" width="0" style="display:none;visibility:hidden">
Skip to content
Trustpilot
check-icon

No monthly fees***

check-icon

Up to 3.83% AER* (variable) interest on savings

check-icon

Up to 1.5% cashback**

check-icon

UK customer support

FSCS Protected

All our current accounts and savings accounts are covered by the Financial Services Compensation Scheme (FSCS). This means that, should anything happen to Allica Bank, any eligible deposit of up to £120,000 will be protected.

Find out more about your eligibility for FSCS coverage here.

Instant-access

Savings Pot

Our Savings Pot is an exclusive feature of our Business Rewards Account. We're offering Federation of Small Businesses members a 0.25% AER* boost on their savings.

  • Earn up to 3.83% AER* (variable) on your company’s spare cash
  • Instant access – deposit and withdraw whenever you like
  • Interest paid monthly
  • FSCS protected (eligible deposits only)
  • An exclusive feature of our Business Rewards Account

Apply now

*Rate includes standard rate of 2.83% AER (minimum balance applies) plus a Bonus Rate of 0.25%, 0.25% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 19th December 2025. Subject to eligibility – see Savings Pot Key Product Information for more details.

business-rewards-accounts-2a

 

As seen in
financial-times-allica-bank-1
Daily telegraph
The times
this is money
MSE-allica-bank-1

What is a Business Rewards Account?

Our Business Rewards Account is a current account designed especially for established businesses.

Apply now

 

*Rate includes standard rate of 2.83% AER (minimum balance applies) plus a Bonus Rate of 0.25%, 0.25% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 19th December 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

**As long as you continue to meet our eligibility criteria. See a full list of limits, fees, and industry restrictions here, or our current account key product information, or terms & conditions, or savings pot key product information, or supplemental terms & conditions.

*** From 1st February 2026 customers whose balance falls below an average of £10,000 will incur a £25 fee. This does not apply to customers who hold an active loan product with Allica Bank. Account fees are based on average account balance and activity status. See more details here.

Up to 3.83% AER* (variable) instant access Savings Pot

Don't just earn cashback. Earn interest on your savings too. Savings Pots are an exclusive feature of the Business Rewards Account.

Up to 1.5% cashback

Earn 1% cashback on your card spend and unlock 1.5% cashback on additional monthly card spend after you spend £10k in a month

Your relationship manager

Get a dedicated relationship manager that will be with you every step of the way. We believe in building relationships, not call centres.

No monthly fees***

It has zero monthly fees and free bank payments**

Apply now

Fill out the form and we'll be in touch to complete your application. 

Keep in mind: Our Business Rewards Account is designed for established businesses who keep a balance of £50,000 or more in their account. See our eligibility criteria.

Get rewarded for your card spend

Here's how it works...

​​

rewards-account-app-3

1​. Make a card payment

Use it just like your current business bank account and track your payments in the app.

rewards-account-app-1

2. ​Get rewarded

Earn 1% cashback on all card payments, paid at the end of the month.​

rewards-account-app-2-1

3​. Unlock bonus rewards!

​Spend over £10k in one month and unlock a bonus rate of 1.5% for the rest of the month.​

Sync seamlessly with your Sage or Xero accounting software

Save time by connecting your Allica Bank current account and automatically syncing transaction activity with your accounting software.

sage-xero-logos-3

Sync seamlessly with your Sage or Xero accounting software

Save time by connecting your Allica Bank current account and automatically syncing transaction activity with your accounting software.

A Business Rewards Account

built for businesses like yours

Zero monthly fees ✔***
Free Faster Payments ✔*
Free BACS ✔*
1% cashback on card payments ✔
1.5% cashback on card payments after £10k spent in a month for remainder of month ✔
UK-based support team ✔
FSCS protection (if eligible) ✔
Manage using mobile app ✔
Manage on the web ✔
Direct credits in ✔
Multiple director access and cards ✔
   Direct Debits out ✔
Direct Debits out ✔
Schedule payments ✔
ATM withdrawals ✔
Phone support ✔
CHAPS payments ✔
(For a fee of £20)
Deposit cash ✘
Deposit cheques ✘
Integrated savings pots with up to 3.83% AER* interest ✔**
Bulk Payments ✔
(No fees)
Two-person authorisation ✔
Relationship manager ✔

***From 1st February 2026 customers whose balance falls below an average of £10,000 will incur a £25 fee. This does not apply to customers who hold an active loan product with Allica Bank. Account fees are based on average account balance and activity status. See more details here.

**Faster Payments and BACS, subject to fair use policy – see Business Rewards Account Terms & Conditions.

*Rate includes standard rate of 2.83% AER (minimum balance applies) plus a Bonsu Rate of 0.25%, 0.25% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Rates correct as of 19th December 2025. ‘AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Subject to eligibility – see Savings Pot Key Product Information for more details.

cass-logo

Switching bank account? It’s easier than you think.

Switching accounts is hassle-free with the Current Account Switch Service (CASS).

All your direct debits and standing orders will be moved over to your new account automatically within seven days. Then, after the switch and for the next three years, any money sent to your old account will be redirected to your new one. It’s as easy as…

  • Open your new current account
  • Choose a switch date
  • We’ll do the rest

Find out more about the Current Account Switch Guarantee here.

*Only available for businesses with less than 50 employees and turnover of less than £6.5m per year.

Empower your business to succeed.

Join Britain's award-winning business bank

Apply now

"2023 was an incredible year for Allica. A particular highlight for me was the rollout of our business current account, which is a huge milestone on our mission to give established businesses the full-service relationship banking they deserve."

Richard Davies-1

Richard Davies
CEO
Allica Bank

About Allica Bank

Allica Bank is on a mission to become the most recommended business bank in the UK. We are dedicated to serving the needs of established businesses, who are the beating heart of the UK economy and our local communities.

We do this through a unique mix of real human expertise and powerful technology.

Based out of our offices in Milton Keynes, London and Manchester, Allica has relationship managers out on the road up and down the country helping businesses like yours.

No matter where we are, though, every one of us is committed to our four core values of:

  • Integrity
  • Collaboration
  • Being straightforward
  • Delivery

Frequently Asked Questions

What is a business current account?

A business current account is a lot like your personal current account, but with features designed especially for businesses.

You can use it for your day-to-day transactions, such as paying for goods or services or paying your employees and can get a card to pay for things in-store or online. Every business bank account is different, though. You can find out all about the features of our business current account – the Business Rewards Account – on this page.

How do I open a business current account with Allica Bank?

You can start your journey with Allica Bank by applying for a Business Rewards Account here. If your business fulfils our eligibility criteria, our team will give you a call to complete your application.

What do I need to open an Allica Bank business current account?

You’ll need to provide information about yourself and your business, such as your name, address and contact details, and we’ll also ask you to upload a form of ID, such as your passport of driving licence. We will then run a few checks to make sure it’s really you.

You’ll also need to provide some information about your company, including the nature of your business, annual turnover, number of employees, Companies House details, and details of any directors with significant control.

We ask for this information to understand why you are opening the account, what you intend to use it for, and the source of the money you’ll be putting into it. This is necessary for us to protect against the risks of financial crime and money laundering.

How do I switch a business current account to Allica?

You can switch to Allica using the Current Account Switching Service, which was introduced to make switching accounts easier. All your direct debits and standing orders are moved over to your new account automatically within seven days. After the switch (and for the next three years) any money sent to your old account will be redirected to your new one. There are three main steps:

  • Open your new current account
  • Choose a switch date
  • The bank you’re switching to does the rest

Find out more about the Current Account Switch Guarantee here.

How can I contact my relationship manager?

Allica’s business current account customers are given a phone number and an email address so that they can contact their dedicated relationship manager directly. If you are an existing customer and you don’t have these contact details, please reach out to our team at rewards@allica.bank.

sheild orange left whole hero
cloudfront