Make the most of your Business Savings Account

You work hard for your money, so we want to make your money work harder for you. That’s why, we’ve put together some guidelines so you can get more from your savings. They’ll help you manage your Notice, Instant Access or Fixed Term Deposit Account.

We’ll give you a clear understanding of how to add or withdraw funds, what to do when your savings period ends and how to make the most of your Instant Access Account.

Fixed Term Deposit Account

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Notice Accounts

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Instant Access Account

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Getting to Know Your Fixed Term Deposit

Fixed Term Deposit – keeping it safe for a set amount of time

Once you open a Fixed Term Deposit, your funds will be locked in until the end of the term – the maturity date. Withdrawals aren’t allowed during this period, 

You can check your account by logging into Online for Business or by calling us on 0345 305 5555.

Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays)

What happens at the end of the term?

The end of your Fixed Term Deposit period is called its maturity. Before this happens, we’ll contact you to explain what you can do next. You can also see your options later on this page.

Unless you tell us otherwise, we’ll automatically move your money and any interest into your linked account at the end of the term.

What happens to my interest payments if the fixed term is longer than 12 months?

If your Fixed Term Deposit period is more than 12 months, we’ll pay interest into your linked account on each anniversary of the deposit. We’ll pay the rest of the interest, as well as the original amount you put in, when your fixed term ends.

What can I do when my term ends? 

Keep growing your savings with a new Fixed Term Deposit Account

Why not carry on building for your future? You can reinvest your original deposit and the interest it’s earned in a new Fixed Term Deposit Account. You could also put in more or less than this or choose a different term. It’s all up to you.  

Save another way

You may want to carry on saving but perhaps need more flexibility. If so, a Notice Account or an Instant Access Account could be the answer.  

Do nothing and get your money

If we don’t hear from you, we’ll pay your original investment and your interest into your linked account when the term ends.

Why should I choose another Fixed Term Deposit Account?

You know what you’re getting

You’ll get a fixed rate of interest throughout your chosen term. So you’ll know at the start how much you’ll end up getting. And, you won’t be disappointed if rates go down.

Pick a term to suit your business

Choose a term length that matches your business goals and cash flow needs.

Let us know what you want to do

Online

  1. Log on to Online for Business.
  2. Go to the Fixed Term Deposit that’s about to mature.
  3. Select ‘Update maturity instruction’.
Log on and update

By phone

If you want to give your maturity instruction by phone, please call 0345 305 5555.

Lines are open Monday to Friday 8am to 5pm (apart from bank holidays).

Call us on 0345 305 5555

Getting to Know Your Notice Account

How do I check my balance?

32-Day Notice Account - check your account balance whenever you need to. Just log in to Online for Business or use the Business Banking Mobile App.

95-Day Notice Account - to check your account balance just give us a call on 0345 305 5555. Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays).

How can I add money?

You can put in money online with a 32-Day Notice Account. You’ll see how to do this for a 32-Day and 95-Day Notice Account later on this page. 

When will I get my money after I’ve given notice?

Once you let us know you need your money, we’ll move it into a Fixed Term Deposit Account. We’ll hold it there for 32 or 95 days depending on your notice period. And, don’t worry, it’ll still be getting interest. Then when the notice period is over, we’ll move it to your chosen account.

What happens to the interest rate and the interest on my money’s when I give notice?

The interest rate is fixed for the notice period. We’ll pay the interest your money has earned during this time into your chosen account at the end of the notice period.

Adding funds

32-Day Notice Account

To add funds:

  1. Log on to Online for Business.
  2. Go to your 32-Day Notice Account.
  3. Choose ‘Add funds.’
Add funds

95-Day Notice Account

To add funds, call us on 0345 305 5555, Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays).

Call 0345 305 5555

How do I take money out? 

32-Day Notice Account

You’ll need to give us 32 days’ notice before you can take out any money. 

To give us notice:

  1. Log in to Online for Business.
  2. Go to your account.
  3. Choose ‘Withdraw funds.’

Minimum withdrawal is £10,000 and you must always keep at least £10,000 in your account. 

Withdraw funds

95-Day Notice Account

You’ll need to give us 95 days’ notice before you can take out any money.

To give us notice, call us on 0345 305 5555.  Lines are open Monday to Friday, 8am to 5pm (apart from bank holidays).

Minimum withdrawal is £10,000 and you must always keep at least £10,000 in your account. 

Call 0345 305 5555

Tips to Make the Most of Your Business Instant Access Account

Prepare for emergencies

Set aside some of your savings for emergencies. You can still get to your money as soon as you need to for this or anything else. 

Make the most of your surplus cash

Got some extra cash? Make sure it’s working harder for you by putting it into your savings account. It’ll still be easy to get to when you need it. 

Set short-term savings goals

Save for upcoming business expenses like new equipment, marketing initiatives or expansion plans. Take the money out when the time is right.

Sort out savings pots

Use your savings account to split up specific funds. This can help you manage different projects or financial goals, so you don’t mix them up with your main business account.

You can’t beat a buffer

Give yourself the peace of mind of knowing you’ve got a financial cushion by topping up your savings account. That way you’re protected against seasonal fluctuations or irregular income. And, with instant access, you’ll enjoy a smooth cash flow too.

Make saving a habit with a standing order

Take the hassle out of saving by setting up a standing order to put away some of your income. Once it’s in place, you won’t have to do anything. And your savings will just grow without you tending to them. 

How to put in or take out money 

Online for Business

  1. Log on to your Online for Business account
  2. Go to your Instant Access Account
  3. Choose 'Payments and transfers'.
Add or withdraw funds

Business Banking Mobile App

  1. Log on to your mobile banking app,
  2. Go to your Instant Access Account
  3. Select 'payments' or 'payments and transfers'.
Download mobile app