Business Savings Account

[PerfectStorm]

That's not bad. 2.5% for the fixed term one as well. I have a rather large surplus in the company coffers and am tempted to bung a load in although that FSCS hard-stop always makes me nervous...

Particularly with Aldermore. Their 4 hour ‘faster payments’ always leave me wondering if they could truly handle a run on the bank.

[jamesbrown]

Particularly with Aldermore. Their 4 hour ‘faster payments’ always leave me wondering if they could truly handle a run on the bank.

If you think they're bad, try Shawbrook or Kent Reliance... it's next day (although, TBF, they don't promise anything different). It's surprising how few business savings accounts implement truly fast, fast payments - Virgin Money does, for example.

[PerfectStorm]

If you think they're bad, try Shawbrook or Kent Reliance... it's next day (although, TBF, they don't promise anything different). It's surprising how few business savings accounts implement truly fast, fast payments - Virgin Money does, for example.

Yep. Well, even Virgin's has 10-15 minutes in it some days. Shawbrook terribly slow, I'd hate to need to get money from any of these in an emergency

[patel]

Recognise Business savings account is also good..paying 3% and good part is they do increase interest rate within a week of BoE announcement...

[jmo21]

Recognise Business savings account is also good..paying 3% and good part is they do increase interest rate within a week of BoE announcement...

That's their 95 day notice acc. Their easy access is still 2% as far as I can see.

[PerfectStorm]

Recognise Business savings account is also good..paying 3% and good part is they do increase interest rate within a week of BoE announcement...

Still with dodgy pay-in methods - i.e. everyone pays into the same account and they apportion out the funds based on reference data. Not doing that with my business's cash!

[jmo21]

Still with dodgy pay-in methods - i.e. everyone pays into the same account and they apportion out the funds based on reference data. Not doing that with my business's cash!

Ok grandpa! As others have pointed out....

This is extremely widespread among smaller institutions. In other words, your “red flag” is total nonsense. They are actually better than most in terms of their online offering. No issues to report, would recommend (up to the FSCS limit, obvs.).

[pkm]

Never heard of recognise bank. Lots of new banking companies. Rate of 2.96% monthly seems quite good. Unfortunately most of them don't have Freeagent feeds including Investec. Investec is offering only 1.75 but no feed. Virgin money has some FA feeds but the interest is 1.51. They have some good rates on term deposits.
https://uk.virginmoney.com/business/...vings-account/

[jamesbrown]

Never heard of recognise bank. Lots of new banking companies. Rate of 2.96% monthly seems quite good. Unfortunately most of them don't have Freeagent feeds including Investec. Investec is offering only 1.75 but no feed. Virgin money has some FA feeds but the interest is 1.51. They have some good rates on term deposits.
https://uk.virginmoney.com/business/...vings-account/

FWIW, VM is offering 2%.

edit: actually, that is only for existing customers, otherwise 1.51% as you say.

[jamesbrown]

As an aside, Cater Allen have a very good 35-day notice account offering 2.85%.