When it comes to managing your small business’ finances effectively, selecting the right business bank account is paramount, whether you’re embarking on a new entrepreneurial journey or revamping your current banking setup.
The process of finding the ideal business bank account can be daunting and time-consuming. It entails a thorough assessment of critical factors like account features, eligibility requirements, and related fees. To simplify this decision-making process, we’ve curated a practical guide to assist you in selecting the perfect business current account.
A business bank account serves as a specialised financial tool for managing business transactions, distinct from personal accounts. Tailored to accommodate a higher transaction volume, it offers essential features catering specifically to business requirements. These include overdraft facilities, business credit cards, and access to business loans, all crucial for effective cash flow management and handling business expenses efficiently. Think about the types of transactions your business will be conducting, the frequency of these transactions, and the level of customer support you might need.
Federation of Small Businesses (FSB) members have access to three banking partners today to cover the differing needs for self-employed and small businesses.
Who doesn’t like to save money everytime you spend? That’s exactly what cashback on your FSB business account with Zempler Bank gives you, the more you spend, the more money you’ll get back.
The first two years are FREE of annual account fees and this has to be the most accessible option with applications only taking minutes to bank in-app or online. Unlimited free payments & transfers monthly backed up UK telephone customer support from real humans.. what’s not to like?
UK’s best Environmental, Social and Governance (ESG) high street bank by Sustainalytics* The Co-operative Bank plc remains the only UK high street bank with a customer-led Ethical Policy and a long term banking partner for FSB members. Feel good about who you bank with without paying for the privilege with just free everyday banking including cruciallt UK-based customer support in branch, on the phone or in-app, with access to specialist business advisers.
Allica Bank Business Rewards Account is designed especially for established businesses combining no monthly fees, no transaction fees, up to 1.5% back on debit card spend and crucially for those with more complex needs a direct line to your own dedicated relationship manager.
For existing FSB members do take advantage of these offers from your Member Dashboard and for those that are not already members (why not.. it’s a no brainer?!) reach out to local Membership Advisor Glenn Cameron for a conversation and there might be an offer…