Business Easy Access - Issue 1
Business Savings Account

Business eligibility

We need the following information before you can move to the next stage of your application:

To be eligible for a Business Savings Account, your business must

  • be either a Sole Trader, Partnership, Limited Liability Partnership (LLP) or Limited Company (Ltd), and
  • A small to medium sized enterprise with fewer than 250 employees and a total balance sheet of less than £36.5m and / or a turnover or less than £42.5m, and
  • the income it generates must be from operational activity and not “passive” income.

If your business doesn’t meet these criteria, unfortunately you won’t be eligible to apply for an Recognise Business Savings Account.

Business type

Select your business type

Your business is you, which means you're personally accountable for all decisions and responsibilities of being in business. You must be the business owner to apply for a Business Savings Account.
There are at least two of you who share the decisions and responsibilities of being in business. You must be a partner in the business to apply for a Business Savings Account.
You're registered with Companies House, you send an annual return and file accounts. You must be a designated member in the business to apply for a Business Savings Account.
You're registered with Companies House and have at least one director or a board of directors who make the management decisions. You must be a director of the business to apply for a Business Savings Account.

Business income

"Passive Income" is defined as money that you earn without working for it. Examples include dividends from investments, interest from savings accounts, royalties, etc. As such, our Business Savings Accounts are not suitable for companies with a passive income.

Small to medium enterprise eligibility

To be eligible for a Business Savings Account, your business needs to meet the EU definition of a small to medium sized enterprise.