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 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 successful switch with CASS, and a 0.25% Welcome Boost for 3 months for customers who are new to Allica Bank and who opened a Business Rewards Account from January 2026 and 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.
2 Cashback is variable and based on card spend. Exclusions apply. See a full list of limits and fees here.
3 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.
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 £120,000 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 £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 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.
Where you make a single transaction of £15,000 in a month you will earn 1% cashback because the total spend before that transaction was £0. Your cashback for that month will be £150.
Where you make two transactions in a month of £11,000 and then £4,000, you will earn cashback as follows:
- 1% cashback on the first transaction of £11,000; and
- 1.5% cashback on the second transaction of £4,000 (and any transactions after that in the month).
Your total cashback for that month will be £170.
For the avoidance of doubt, you will not earn cashback on payments made by bank transfer.
Please note that when you make a card payment it usually takes 2-3 days before the payment is settled – the amount first shows on your account as pending and then once it is settled it is moved to your completed transactions.
All payments made using your Card are eligible for the cashback offer once the transaction has settled, subject to the exclusions listed below.
You will not earn cashback on:
- Cash withdrawal from an ATM; or
- a transaction if a refund payment is made in respect of that transaction. If cashback has already been paid to you, and an eligible transaction is subsequently refunded, you authorise us to deduct the appropriate amount from your account.
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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