Allica Bank Launches UK Business Savings Account

Allica Bank, recognized as Europe's fastest-growing startup, has launched a business savings account designed to help UK companies earn up to 10,000 pounds in interest over the next 12 months with little additional effort. The digital account targets businesses holding substantial cash reserves, offering competitive rates on idle funds while keeping money fully accessible.

The account pays interest on spare cash balances without requiring customers to invest, lock away funds or assume extra risk. According to the bank, a company maintaining an average balance of around 250,000 pounds could generate nearly 10,000 pounds in interest during 2026. This approach aims to simplify how businesses manage and grow their cash, particularly for those with larger holdings that often sit unutilized.

In addition to interest, the account includes cashback on routine spending, reaching up to 1.5 percent on eligible transactions such as utilities and office supplies. Bank officials describe this feature as a way to boost returns on everyday operations without complicating financial management. Once set up, the account requires no ongoing oversight beyond standard use, allowing funds to earn passively.