Business Savings Account

[ensignia]

The annual fee from Wise makes it much less attractive.

On the balances I'm looking at keeping in there, their fee will be a few grand a year unless I'm getting it wrong (very likely).

Tide is good but only available to new members and I already have a current account with them.


VirginMoney still offering 4.55% on 120 day notice accounts which seems reasonable.

[jamesbrown]

The annual fee from Wise makes it much less attractive.

On the balances I'm looking at keeping in there, their fee will be a few grand a year unless I'm getting it wrong (very likely).

Tide is good but only available to new members and I already have a current account with them.


VirginMoney still offering 4.55% on 120 day notice accounts which seems reasonable.

Well, £3,000 ("a few") / 0.0056 = £536k, which you may be keeping with them, but you probably shouldn't. For the sensible limit of £85k, you're talking about £470 pa in fees, which definitely makes them less attractive, but still more attractive than the vast majority of instant access options out there, and once you're into splitting money across accounts for FSCS protection, then it becomes a least ugly baby contest and Wise wins quite quickly into that. YMMV.

[jamesbrown]

Wise are becoming cynical cretins, though. Attract customers with a good offer and then make it progressively worse. Boiling frog theory (i.e., increase heat gradually).

[BigLadFromBeeston666]

Wise are becoming cynical cretins, though. Attract customers with a good offer and then make it progressively worse. Boiling frog theory (i.e., increase heat gradually).

This is part of my decision to switch as well. Need to be punished for cynical moves.

[Andy2022]

Looks like Capital on Tap are launching a no-notice business savings account paying 4.26% AER

Need to be an existing customer to express an interest https://www.capitalontap.com/en/apps/savings/

[jamesbrown]

Looks like Capital on Tap are launching a no-notice business savings account paying 4.26% AER

Need to be an existing customer to express an interest https://www.capitalontap.com/en/apps/savings/

Bear in mind that ClearBank are behind a ton of other app-based banking platforms, like Tide, and the FSCS applies per banking license. No direct experience of Capital on Tap, but I have been spammed by them endlessly for business credit cards.

[Andy2022]

Bear in mind that ClearBank are behind a ton of other app-based banking platforms, like Tide, and the FSCS applies per banking license. No direct experience of Capital on Tap, but I have been spammed by them endlessly for business credit cards.

Been using them for a while and from a credit card perspective Capital on Tap seem fine – sometimes get slightly higher card fees on transactions e.g. BA, as it's a commercial card

Of course the real test is what happens when something goes wrong and I need them to sort it out

I dumped Tide years ago after I found some documents I sent them were available to anyone who knew the appropriate URL, and trying to get their customer facing team to put me in touch with their security team was a nightmare. Eventually got an apologetic email from someone at C level responsible for security

[jmo21]

Shawbrook still the highest at the moment at 4.36% (as far as I know)

[Spoiler]

Currently using Tide but interested in the Cap on Tap account when it’s available. Have used CoT credit card for a few years - works well. Would ben happy to consolidate C & savings to one provider and bin off Tide.