Business Savings Accounts

[jamesbrown]

any that you recommend of the "slow" bunch that is on the slightly quicker side?

Ive tried Aldermore, Cambridge & Counties, Recognise and Shawbrook and Shawbrook was the worse of that group

Among the slower options, it really is a muchness, TBH. Shawbrook does stand out as the slowest among them. However, it is routine that payments after the cutoff arrive next day and weekend payments the next business day or even the day after that (as in Shawbrook). If you want payments to arrive the same working day, send them before the cutoff (and even then, you may not get it that day).

Here's the list of institutions that are direct participants of FPS (i.e., payments within 2 hours, but typically instantaneous):

https://www.wearepay.uk/what-we-do/p...ticipant-list/

You can try Tide, for example, as they participate directly through Clearbank and offer 4.33% to new customers. Their payments are proper faster payments, in keeping with the above. There's also Wise, but you won't get FSCS protection, so make sure you use their "assets" option, but also be aware that money invested in Wise assets will be considered an investment w/r to the CIHC rules etc.

My best advice is to only use the slow options for money that you don't need immediately, otherwise use one of the tech bro institutions (with care) - Tide and Wise are both good, but note my comment about FSCS - or sacrifice on rate. Avoid Revolut, they are a very poor outfit indeed.

[antuk]

Here's the list of institutions that are direct participants of FPS (i.e., payments within 2 hours, but typically instantaneous):

https://www.wearepay.uk/what-we-do/p...ticipant-list/

Thanks for this, noticed the bank of london listed and they have a 4.07% easy access at the moment, might give that a try

[ladymuck]

Thanks for this, noticed the bank of london listed and they have a 4.07% easy access at the moment, might give that a try

You do know that the Bank of London isn't the Bank of England? It's only existed since 2021

[antuk]

You do know that the Bank of London isn't the Bank of England? It's only existed since 2021

Yeah that doesnt bother me. They could be 1 day old as long as the money is protected by the FSCS im not bothered.