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

Important information

Further information about our Business Rewards Account:

Eligibility criteria

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.

Savings Pot

Rate includes standard rate of 3.08% AER, plus a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (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.

Cashback

Cashback is variable based on eligibility and spend. See a full list of limits and fees here.

Eligibility criteria

To be eligible, your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can access a range of hard, medium and soft assets including manufacturing equipment, transportation, plant and machinery, materials handling equipment, textile equipment, robotics, medical equipment, scaffolding, telecoms and more.

Eligibility criteria

UK-registered limited companies, typically with two years of full financial accounts. Your business must be based in England, Scotland or Wales and trade on a business-to-business basis.

Eligibility criteria

Your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can include those trading from freehold/long leasehold property in England, Scotland and Wales e.g. offices (including professional practices), industrial units, mixed-use, warehouses, factories, retail, hotels, guest houses, restaurants, public houses, convenience stores and children’s day nurseries. Security will be required.

Eligibility criteria

Available for UK registered limited companies, LLPs, partnerships and sole traders in England, Scotland and Wales.

Legal documents

Further information about our Business Rewards Account:

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.

Leaders in Accountancy Summit 2025

8 September | Convene 155 Bishopsgate, London

Frustrated with slow service, poor rates, or support that just doesn’t get your clients’ needs? It’s time for a better way. Join us at the Leaders in Accountancy Summit this September in London to learn how Allica is building banking that works for accountants and the businesses they support. From tailored tools to relationship-led service, our dedicated partnerships team is here to help you help your clients thrive.

Attending? Want to book a time to chat? Email us at accountants@allica.bank.

Savings Pot

Rate includes standard rate of 2.08% AER, plus a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (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.

Important information

Further information about our Business Rewards Account:

Testing popup with form

FORM IS DISABLED FOR TESTING

Curabitur turpis. Donec quam felis, ultricies nec, pellentesque eu, pretium quis, sem. Vivamus elementum semper nisi. Duis lobortis massa imperdiet quam. Pellentesque ut neque.

  • Phasellus consectetuer vestibulum elit.
  • Etiam rhoncus.
  • Praesent turpis.
  • Sed aliquam ultrices mauris.
  • Donec pede justo, fringilla vel, aliquet nec, vulputate eget, arcu.

Praesent porttitor, nulla vitae posuere iaculis, arcu nisl dignissim dolor, a pretium mi sem ut ipsum. Nullam vel sem. Integer ante arcu, accumsan a, consectetuer eget, posuere ut, mauris. Nullam quis ante. Quisque id odio.

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.

 

Eligibility criteria

Allica’s business overdraft is made for Business Rewards Account customers who need the flexibility and tools to grow their business

  • Need an overdraft over £25,000 for business purposes
  • Be a UK Limited Company or Limited Liability Partnership
  • Have been trading for at least 24 months
  • Generate an annual turnover of more than £500,000 and be profitable

If your overdraft is approved but you don't already have a Business Rewards Account you'll need to open one before you can access the money.

What is a Personal Guarantee (PG)

A personal guarantee is a promise made by a person or an organisation to accept responsibility for some other party's debt if the debtor fails to pay it.

What is a Debenture?

In corporate finance, a debenture is a medium- to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest.
Skip to content

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.

leaf-savings-icon
Up to 4.08% AER1 (variable) integrated Savings Pot

Get a better return on your instant access savings in our Savings Pots – an exclusive feature of the Business Rewards Account.

credit-card-solid
Up to 1.5% cashback2

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

hand-coins-solid
Dedicated 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.

money-wavey-solid
All with no monthly fees

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.

cass-icon_v2


Switching accounts is easier than you think

It's hassle-free with the Current Account Switch Service. Details

sage-xero-icon-set


Sync with your accounting tools

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

app-play-store-icon-set


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.

fscs-logo-white

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.

Important Information

Further information about our Business Rewards Account:

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.

Trustpilot
20 Dec, 2024
Fantastic 5* Service
We recently opened a business account with Allica Bank. Not only do they offer competitive rates, you get to discuss your requirements with a person not an computer!  The whole experience from start to finish was brilliant thanks to Emily our account manger, who we can't thank enough. High Recommend
10 Jan, 2025
So refreshing - make the switch!
Having decided to leave Santander who made life increasingly difficult for no apparent reason, we found Allica (thanks Google!). A little apprehensive since I'd not heard of them, but the switch was super easy, the web interface and app are fantastic, and there are even humans who answer emails and calls to help when needed. A real business bank account, finally!
18 Oct, 2024
It's like travelling back in time to…
when humans ran banks. Setting up the account has been so straightforward. Lauren has responded immediately to all my emails - with a phone call when that was easier. So far it's been a pleasure dealing with Allica. I don't often write reviews - I felt compelled to do so this time.
18 Dec, 2024
Superb process
The whole process from start to finish was brilliant. Hope was able to take me through the steps and understood the nature of my business so could offer the best advice. will definitely be keeping this account and setting up future ones with Allica.
13 Dec, 2024
Very easy to get set up and running
Interface seems intuitive and easy to use. Customer services have been proactive. The open banking seems to work well, with transactions pulling into accounting software. Happy to recommend Allica Bank based on my experience to date.
15 Oct, 2024
Outstanding to date!
For a Bank that was little known to myself, I can only say how impressed I've been with their service standards. Lauren was exemplary in explaining everything & I'm about to be allocated my named account Manager. Some lovely old fashioned human values here mixed with modern banking technology & a user friendly app.
13 Dec, 2024
Allica business banking done better
They are great to deal with, easy to set-up and they actually pay interest on your business account unlike most! Highly recommend them.
28 Oct, 2024
The best 2 years banking ever
I’ve been with Allica for 2 years now. I’ve seen them respond well to customer comments and the app has come a long way since I started using it. There may be differences between other banking apps but to have seen the improvements and taking on board feedback is refreshing. I can't fault the account facilities and the interest rate we get.
23 Oct, 2024
A breath of fresh air...
How business banking should be... Exceptional response from relationship manager and a clear, open and personal attitude to SME business needs.  Simple and easy banking app. Just what you need! Recommended to many other SME owners.
13 Jan, 2025
This is how a Bank should be run!
Excellent service from day one, moving to Allica from a hopeless Lloyds (who it seems no longer want SME business), big thank you to Maria who went out of her way to open our account over Christmas/ New Year and help us meet a deadline.

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.

 
image 320
“It’s great to know that the money I’m saving with Allica is giving me interest, which I can re-invest into my business to help it grow.”
Beate Rothon
Founder of Gentle Dog Food

You’ve got questions. 
We’ve got answers.

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. 

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.

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. 

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

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.

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. 

Expand for more answers +

cloudfront