Can I open a business savings account if I or a director/shareholder lives outside of the UK?
At the time of making your application, all signatories and shareholders must be individuals who permanently reside in the UK for tax purposes, and we reserve the right to decline an application if any signatory or shareholder is resident outside of the UK.
If I own more than one business, can I open accounts for each of them?
Yes, though please note you need to have a different email address for each business.
Can my business hold multiple savings accounts?
There is no limit on how many savings accounts you open with United Trust Bank, so you can choose to spread your funds over multiple accounts if you wish, both with our fixed rate and notice products.
Are business savings protected by the FSCS?
Yes, all business savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. To find out more, please click here.
What is the minimum and maximum I can invest?
The minimum initial investment is usually £5000 per account and the maximum is £1,000,000. If you wish to deposit more than this, please click here to find out how we can help you.
What are the benefits of a business savings account?
Having a business savings account brings many benefits. As well as earning your business additional revenue, it can help you plan for future expenses, such as equipment upgrades, marketing campaigns or hiring extra staff. It can also create an emergency fund for unexpected expenses, help future credit applications and can show potential investors and partners that you are a credible business taking your long term financial health seriously.
A business savings account is a great way to make your money work harder and earn extra revenue, so don’t delay and apply for your account now.
What types of businesses can apply for a savings account?
We accept applications from limited companies, self-invested pension plans (SIPPs) and small self-administered schemes (SSASs), discretionary and personal injury trusts, clubs and societies, sole traders, and credit unions. Find out more here.
What are the types of savings accounts I can open with United Trust Bank?
We offer three types of savings accounts: Fixed Term Bonds, Notice Accounts, and a Notice Tracker Account, which tracks the Bank of England Base Rate.
How do I apply for an account?
Once you have decided which account you would like to open, simply click on the ‘Apply’ button in the summary box window for that account and then apply online or by post, depending on your type of business.
If you are applying by post, please send your completed application form to Deposits, United Trust Bank, One Ropemaker Street, London, EC2Y 9AW.