Business Saving Account Recommendations

[BeastCoast]

As per title, looking for recommendations for both Instant & Fixed Term savings accounts, based on interest rate and ease of use.

We've been using Tide for a few years but they have started limiting rates unless you pay a monthly fee (£70!)

We've used Allica in the past who seem to be good - Anyone know how solid and reliable they look long term?

[roundincircles]

I use the Flagstone platform for a couple of businesses, easy to use platform, gives plenty of options, ability to switch to better rates easily, and manage FSCS coverage depending on your risk appetite.

Would recommend them.

[PurpleFox]

I use Kent Reliance for business savings. Instant access and easy to use. No fee and interest paid monthly.

Rate has recently gone down of course 🙄

[BeastCoast]

PurpleFox said:

I use Kent Reliance for business savings. Instant access and easy to use. No fee and interest paid monthly.

Rate has recently gone down of course ?

Thanks for the recommendation. They have good rates but their reviews are awful, seems customer service has been outsourced abroad. What's your experience like?

[PurpleFox]

Never had a problem but never needed to call customer services.

I have three savings accounts with them for different businesses, simple stuff and just savings, money transferred in from the business account and transferred back always to the same account. I don't need to make payments to anyone else etc. Their website is simple enough and you get texts / emails to say they have received your deposit etc. Everything happens in a timely manner and opening the account was easy and quick.

Might be different if you had more complex needs or replied on their branch facilities etc.

[Am2050]

Recently opened a Cynergy business saver which was a relatively painless process opening and depositing.
Only gripe is a lack of a Xero feed but my activity with that account is limited so doing it manually isn’t too bad.

[sleepezy]

I've used the following:

Aldermore - easy
Saffron - OK but a bit of a painful system and reverts away from internet to sort out issues quickly which is painful
Redwood - OK but from memory opening was a chore
UTB - OK but opening was a chore, they've recently opening up an online access system which should make life easy
Kent Reliance - fine, note their rates are generally lower than the others
Shawbrook - fine
Recognise - fine
Newcastle - fine (from memory same system as Kent)
Cynergy - good
Cambridge & Counties - OK
Tide - easy but noted comments above re rates availability
Hampshire Trust - OK

The only one I had a problem with, and couldn't get on with at all is Allica and their horrendous ID checking system

Flagstone platform (and my preference Insignis Cash) have their advantages and disadvantages as has been discussed before - although I note that Insignis made a (small) profit in the last set of reported accounts so they may have built sufficient client base.