A revolutionary British bank is promising to transform how companies earn money on their everyday finances, with a new account that could generate up to £10,000 in extra revenue for businesses over the next year.
The 'Quiet Interest' Opportunity for UK Firms
Allica Bank, which was crowned the fastest-growing startup in Europe last year, has launched a business account designed to make idle cash work harder. The proposition is simple: firms can earn significant interest on money sitting in their account, coupled with cashback on daily spending, all through a fully digital platform.
This means a company that typically holds a balance of £250,000 could see around £10,000 in interest accumulate over a 12-month period. This 'quiet interest' is earned automatically, requiring no active investment management or capital risk from the business owner.
More Than Just Interest: Cashback and Digital Ease
Beyond the headline interest rate, Allica Bank sweetens the deal with cashback rewards on everyday business purchases. In some cases, this can be as high as 1.5% on transactions for items like office supplies and utilities, providing a further boost to the company's finances.
The bank champions a digital-first experience, with an intuitive online interface and mobile app. Users can track payments, view funds, and seamlessly link the account to popular accounting software such as Sage and Xero. For personalised support, each customer is assigned a dedicated relationship manager.
Straightforward Switching and No Hidden Fees
For businesses considering a move, the process is designed to be hassle-free. Switching is facilitated through the Current Account Switch Service, and Allica Bank emphasises that there are no hidden fees, meaning the interest earned is fully retained by the business. Opening a new account is reported to take just a few clicks.
Published on 3rd December 2025, this announcement from Allica Bank, founded by Gareth Butterfield, presents a potentially game-changing financial tool for UK SMEs looking to optimise their cash reserves without complexity.
