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Business Savings Eligibility Criteria
Our business savings products are for small to medium enterprises (SMEs).
To be eligible to apply your business must:
- Have 250 employees or less
- Have a balance sheet of less than £36.5m
- Have an annual turnover of less than £42.5m
- Be established and operating in the UK (which excludes Channel Islands, Isle of Man & Republic of Ireland). This must be true for any entity within your ownership structure as well
- Be a limited company that is registered with Companies House with at least one director. You must not have more than 4 directors, or more than 2 layers of ownership, which ultimately must end in an individual
- Have a trading history for a minimum of two years
- Not trade with any sanctioned entities, countries or individuals
- Not be involved in any of the activities listed here
- Not use this savings account as a destination to hold client funds
To apply you must be a director of the business and confirm that you and any directors/beneficial owners are:
- Residents in the UK and liable to pay tax only in the UK
- Not US citizens
You will need the account number and sort code of a UK business current account. This nominated account must be used as the source of any money deposited with us and will also be used as the destination account of any funds withdrawn.