There are many benefits as to why you should save money as a business. 

By building up your business savings, you can:

• Plan ahead for improvements to your business, like products, equipment or office space. 
• Keep a cash reserve in case unexpected costs arise.
• Cover quieter periods if the business's sales start to dip.
• Fund training and development for your team to enhance business performance.

How much you should pay into your business savings account will depend on the type of account you have, your business goals and how much you plan to put aside.

Here are our minimum and maximum deposit amounts:

• Easy access accounts: minimum deposit of £250

• Notice and fixed term accounts: minimum deposit of £1,000

• All accounts: maximum deposit of £1,000,000

We recommend depositing an amount that works comfortably with your day-to-day and monthly cashflow. 

You can open a business savings account via one of our branches, by post or through an online business savings application. 

The simple steps include: 

• Choosing the right business savings account
• Preparing business information
• Making an application online, in-branch or by post

For full details, please see our complete step-by-step on how to open and manage a business savings account. 

You can make deposits to your business savings account in several ways, including:

• BACS transfers
• Cheques (In branch or by post)
• Cash (in branches)
• Standing orders 

Unfortunately, we don't currently offer product switches for business savings accounts. 

If you want to withdraw from your business savings account, you can do so by using the following methods:

• By cheque (in branch)
• Cash withdrawals at branch 
• Faster Payments 
• CHAPS 

We don't apply any fees or charges to open a business savings account with us. 

Yes, you can open a business savings account with us if you're running a small business.  Our accounts are open to sole traders, partnerships, and limited companies of all sizes and structures. 

Yes, most of our business savings products require a minimum deposit of £1,000. However, our easy access accounts require a lower minimum deposit of £250. 

We accept applications for business savings accounts from sole traders, partnerships, and limited companies of all sizes and structures.

If you’d like to discuss which product is best suited to your business, you can speak with one of our specialists by phone, email, or through our online enquiry form.

To open your business savings account, you will need to prepare the following information your application: 

You will need to provide details including: 

• Company registration information (if applicable)
• Bank or building society account number and sort code in the name of the company
• Annual turnover (estimated or actual)

If you are unsure on how to find this information, please speak with one of our specialists who will be happy to help.

Choosing the best business savings account for you will be dependent on your business savings goals.

If you want to earn interest while keeping your funds accessible, then an easy access account could be the perfect fit for your business suitable.

Or, if your business’s plan is to lock money away and earn more interest, a notice or fixed-term account could be the better choice. 

Explore our business savings accounts. If you're unsure what to choose, our business savings specialist team can talk you through your options and help match the right account to your goals.

You can get in touch by phone, email or by submitting an enquiry through our online form.