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How business banking used to be – just better

Explore our business bank account

Switch to a rewarding business bank built especially for established businesses. With great rates, no monthly fees¹, and a dedicated relationship manager, it’s time you got more from your bank.

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¹ Customers whose balance falls below an average of £10,000 in the previous month will incur a £25 monthly fee. This does not apply to customers who hold an active loan product (including an overdraft) with Allica Bank. Account fees are based on average account balance and activity status. See more details here. Terms and conditions apply.

² Cashback is variable and based on card spend. Exclusions apply. See a full list of limits and fees here.

³ Rate includes standard rate of 2.83% AER (minimum balance applies) plus a 0.5% 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 and a 0.25% Welcome Boost for 3 months for new customers who deposit £50,000+ into their Savings Pot within 14 days. 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.

Savings

Put your company cash to work in one of our fixed-term, notice and easy-access accounts.

Business savings

Personal savings

Commercial mortgages

Whether you’re buying new premises, diversifying your revenue or refinancing to release capital, choose from our range of investment or owner-occupied commercial mortgages.

Asset finance

Borrow £25,000 to £1 million to buy tools and equipment for your company.

Bridging finance

Strike while the iron is hot. Short-term lending with Allica means you don’t have to wait when an opportunity presents itself. Packages start at just £150,000 and up to 75% LTV.

Growth finance

If you’re an established UK company with at least £5 million in turnover, get up to £10 million in growth finance to help your business reach its goals with Allica.

Latest news

Press releases

Allica Bank launches overdraft to fix £15 billion SME overdraft gap for established businesses

9th February 2026

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Allica Bank selected for new Scale-up Unit to supercharge fast-growing fintechs

3rd February 2026

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Allica Bank report shows £5.8bn impact of challenger lending to Britain’s SMEs

18th November 2025

Read more

Who are Allica Bank?

Allica are a no-nonsense bank built specifically to give established businesses with between 5 and 250 employees the banking they deserve.

We got our banking licence in 2019 and have grown quickly since then, being named in the 2024 Sunday Times 100 list of fastest-growing private companies.

Allica has offices in Milton Keynes, London and Manchester, and relationship managers up and down the country helping to give established businesses the banking they deserve.

Is Allica Bank protected by FSCS (Financial Services Compensation Scheme)?

Yes! 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. 

Keep in mind this compensation covers all your accounts with Allica Bank , not each individual account. For example, if you have a total of £150,000 in two separate accounts with Allica Bank, the maximum compensation you could claim on your Allica’s deposits through FSCS is £120,000.

Find out more about your eligibility for FSCS coverage here.

How do I open a business bank account?

You can open a Business Rewards Account with Allica by completing our online application form (you can find it here). We’ll then give you a quick call to finish your application and answer any questions you have. So long as everything’s in order, your account should be opened within a few days.

What do you need to open a business bank account?

There’s a few things we’ll need to check before we can open an account for you, including confirming the identity of your business and of its shareholders and directors (including any beneficial owners) to help combat fraud. We will aim to do as much of this automatically as we can, but it’s possible you’ll be asked to provide digital copies of identity documents and a proof of address.

We’ll also ask for your Company Number at Companies House so we can run a few checks on your business.

How long does it take to open a business bank account?

Once you’ve made your application, we’ll aim to have your account open in just a few working days.

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