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 3.33% 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 9th May 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.

___________

Accountex London 2025

14–15 May | ExCeL London | Stand 164

Discover how we’re changing the game for accountants working with established businesses. If your SME clients are struggling to get the service they need from their bank — whether it’s poor communication, low interest on cash reserves, limited access to finance, or even unexpected account closures — come and see how we’re doing things differently. Visit us at stand 164.

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

How business banking used to be – just better

Explore our business bank account

  • Earn up to 4.33% AER1 (variable) on instant access savings 
  • No monthly fees + up to 1.5% cashback2
  • A relationship manager you can count on
Apply now
fscs-logo-colour CASS-guarantee-logo-black

Subject to Eligibility.  Terms and Conditions apply.

1 Rate includes standard rate of 3.33% 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 9th May 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.

The bank account for established businesses

Established businesses are firms with 5–250 employees. They're a vital part of our communities but they’re being let down by the big banks. Allica was built specifically to meet the unique needs of businesses like these.

Up to 4.33% AER1 (variable) on instant access savings

Put your spare cash to work

Up to 1.5% cashback2

On all eligible card spend

Dedicated relationship manager

A partner who understands your business

All with no
monthly fees

And Faster Payments are free, too

beate-rothon
“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, Gentle Dog Food
allica-bowler-navy-background

A business bank for established businesses

Established businesses are those firms with 5–250 employees. A vital part of our communities, they employ a third of the UK workforce and contribute a third of GDP. But they’re being let down by the big banks. Allica was built specifically to meet the unique needs of businesses like these.

cass-icon_v2

Switching accounts is easier than you think

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

sage-xero-icon-set

Sync with your accounting tools

Connect with Sage or Xero to automatically sync all 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.

andy-connacher
“Running a 20-person business is stressful – no bank comes close to Allica when it comes to making my life easier.”
First Last
Director, Company

Sync with your favourite accounting tools

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

sage-xero-icons

sync-accounting-UI
online-app

Available online, iOS or Android

Easily manage your Business Rewards Account on the web or by using our mobile app.

download-on-the-app-store-badgeGoogle_Play_Store_badge_EN

andy-connacher
“Why would you be with a bank that doesn’t give you a relationship manager? Moving to Allica was a no-brainer.”
Andy Connacher
Founder, Whitewater Creative
All features

Click below to see full details, including transaction limits, cards, account fees, withdrawals, security, and more.

Scroll to view all features

Relationship manager ✔
No monthly fees ✔*
Integrated savings pots with up to 4.33% AER interest ✔**
1% cashback on card payments ✔
1.5% cashback on card payments after £10k spent in a month for remainder of month ✔
Free faster payments ✔*
Free BACS ✔*
FSCS protection (if eligible) ✔
UK-based support team ✔
Manage using mobile app ✔
Manage on the web ✔
Direct credits in ✔
Multiple director access and cards ✔
Integrate with Sage and Xero ✔
Direct Debits out ✔
Schedule payments ✔
ATM withdrawals ✔
Phone support ✔
CHAPS payments ✔
(For a fee of £20)
Deposit cash ✗
Deposit cheques ✗
Bulk payments ✔
(No fees)
Two-person authorisation ✔

 

*Terms and conditions apply – click to read more.

**Rate includes standard rate of 3.33% 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 9th May 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.

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
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.

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.

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.

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.

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