A more rewarding business bank account,
made for established businesses
What is a Business
Rewards Account?
Our Business Rewards Account is a current account designed especially to help established businesses get more from their bank.
1 You must have an Allica business current account to access our instant access rate. Our business current account is designed for established businesses who keep a balance of £50,000 or more in their account. Rate includes standard rate of 3.08% 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. Rates correct as of 8th August 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.
2 Cashback is variable based on eligibility and spend. See a full list of limits and fees here.

Get a better return on your instant access savings in our Savings Pots – an exclusive feature of the Business Rewards Account.
Earn 1% cashback on your card spend and unlock 1.5% cashback on additional monthly card spend after you spend £10k in a month.
Get a dedicated relationship manager that will be with you every step of the way. We believe in building relationships, not call centres.
Because we don't believe established businesses should pay for their bank account.
Tools that make business banking a breeze
Take control of your banking. Allica’s business current account makes managing your money easy, transparent and secure. And there’ll always be someone there to help if you need them.

Switching accounts is easier than you think
It's hassle-free with the Current Account Switch Service. Details

Sync with your accounting tools
Connect with Sage, Xero or QuickBooks to automatically sync your transaction activity.

Available online, iOS and Android
Easily manage your Business Rewards Account on the web or mobile app.
FSCS guaranteed
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 £85,000 will be protected.
Find out more about your eligibility for FSCS coverage here.
Applying starts simple
and then gets simpler
It'll typically take a few days to open your account, and we'll be on hand to help with any issues.
1. Fill out the form
Click ‘Apply now’ below and fill out a few details.
2. We’ll have a quick call
We’ll ring you to finish your application and answer any questions you have.
3. And you’re away
So long as everything’s in order, your account should be opened within a few days.
Eligibility
Our Business Rewards Account is a current account designed for established businesses who:
- are incorporated for a minimum of 12 months
- keep a balance of £50,000 or more in their account
- or have a loan product with us
See Key Product Information for further information.
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.

You’ve got questions.
We’ve got answers.
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.
How do I apply for a business current account
You can open a Business Rewards Account with Allica by completing our online application. 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.
Is Allica Bank’s business current account 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 £85,000 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 £100,000 in two separate accounts with Allica Bank, the maximum compensation you could claim on your Allica’s deposits through FSCS is £85,000.
Find out more about your eligibility for FSCS coverage here.
How long does it take to open a business current account?
Once you’ve made your application, we’ll aim to have your account open in just a few working days.
How can I earn cashback?
You can earn cashback by making payments on your Allica Bank card.
You will get 1% cashback on all eligible card payments – this could include train tickets, magazine subscriptions, fuel, or even your online advertising spend. If you spend £10,000 in a month, all subsequent payments that month will earn a cashback rate of 1.5%!
There are a few types of transaction that won’t qualify for cashback, such as cash withdrawals or buying foreign currency. You can find a full list of these here.
Can you have more than one business bank account?
Yes, businesses can have multiple bank accounts.
You can also open multiple Business Rewards Accounts with Allica to help you manage your money. And you won’t need to apply for each one. Once you’ve opened your first account with Allica you can easily open an additional account without having to make another application.
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