10 Best Business Notice Accounts (2024)

10 Best Business Notice Accounts in 2024

·Updated 27/09/2024·

Business notice accounts are types of business savings accounts that offer more flexibility than fixed term savings and higher interest rates than easy access accounts. The only downside is you will need to give notice every time you want to move your money around.

Find the best business notice savings accounts with competitive rates from the UK's top banks and building societies.

Allica Bank Notice Business Savings Accounts

Digital bank offering two notice business savings accounts
You can choose from 95 days or 180 days
Giving variable rates of 4.75% & 5.01% AER, respectively
Calculated on daily balances & paid on the anniversary of when opened
You will need £20,000 to open or operate either accounts
Unlimited deposits can be made up to a total balance of £2 million
Open with a simple online application & manage online or in-app
Need to nominate a current account, this can be an Allica business account, which earns interest with easy access
Eligible deposits are covered by the FSCS up to £85,000

Website Read our in-depth Allica Bank review

Redwood Bank Notice Accounts

Offer two award-winning business notice accounts with access up to four users
The terms available are 35 days notice or 95 days notice
You'll be able to get rates of 4.10% or 4.60% AER, respectively
Both accounts give you the choice of monthly or annual interest
Deposit from £10,000 with unlimited top-ups, up to £1 million per account
Each business can hold a total of £2 million across all accounts
Apply online in 15 minutes & manage securely 24/7
Eligible deposits up to £85,000 are protected by the FSCS
Awarded Best Business Variable Rate Deposit Account Provider 2019-23, in the Moneyfacts Business Awards

Website Read our in-depth Redwood Bank review

Recognise Bank Business Notice Accounts

Five business notice accounts available to small businesses
With terms from seven to 180 days
Interest rates vary from 3.15% to 4.50% AER, calculated daily
Choose to have the interest paid monthly or annually
Into your savings account or a nominated business bank account
Limited companies & limited liability partnerships can deposit from £1,000 to £250,000
While sole traders & partnerships can only save up to £85,000, across all accounts
Open an account in minutes & manage securely online
Eligible deposits are protected by the FSCS, up to a total of £85,000

Website Read our in-depth Recognise Bank review

OakNorth Bank Business Notice Tracker Account

Offer a 95-day business notice account that tracks the base rate
Minus a 0.25% spread fee, for a variable 4.50% AER
Interest is calculated on the month end day balance & applied the next month
Requires a minimum deposit of £1 million & the max balance you can save is £10 million
Open multiple accounts, but the maximum balance limit is spread across all
No limit on the number of withdrawals or deposits you can make
Though the minimum you can withdraw at any time is £10,000
Apply online with ease & manage by app, online or by account manager
Covered by the FSCS, protecting eligible deposits up to £85,000

Website Read our in-depth OakNorth Bank review

United Trust Bank Business Notice Accounts

Four notice accounts available, with rates from 4.10% to 5.00% AER
And terms from 40 to 200 days notice, given by email or online
Also offer a 180 day account that tracks the BoE base rate, currently at 4.75% AER
Interest is calculated daily & paid annually on the 31st October
The rates are variable & subject to change
All accounts require a minimum balance of £5,000 & can hold £1 million
Open by applying by post or online
You have 14 days after submitting an application to make a deposit
Business savings deposits, up to £85,000, are covered by the FSCS

Website Read our in-depth United Trust Bank review

Virgin Money Business Notice Accounts

Option of four accounts that link to Virgin business current accounts
With notice terms from 30 to 120 days, which can't be changed
Earning you interest rates from 3.61% to 4.59% AER, variable
All require a minimum deposit of £100,000 & have no maximum balance
Further investments can be made at any time by cheque or transfer
Withdrawals need notice & take two days or are instant if you have a Virgin business account
Applications are made completely online
And you can manage the accounts online, by app or in-store
Regulated bank benefitting from FSCS-protection on eligible deposits

Website Read our in-depth Virgin Money review

Shawbrook Bank Business Notice Accounts

Popular online bank with 45 day & 100 day business notice accounts
They earn either 3.76% or 4.51% AER variable
On balance over £5,000, up to £2 million
If your balance falls below £5,000, you will earn a rate of 0.05% AER
Choose to have your interest paid monthly or annually
Deposits can be made at any time but withdrawals are subject to notice
Available to businesses with no more than four shareholders or account users
Manage your savings 24/7 through their online eSavings portal
Eligible deposits with Shawbrook are protected up to a total of £85,000 by the FSCS

Website Read our in-depth Shawbrook Bank review

Mansfield Building Society Business Deposit Notice Accounts

Offer one business savings account with 180 days notice needed
The interest rates is a variable 4.25% AER
Which includes a 0.50% bonus for six months, meaning you'll earn 3.75% AER after
Interest is payable on the 31st December every year
A minimum of £1,000 will be needed to open & operate
Deposits can be made at any time, subject to a maximum balance limit of £1 million
Access in branch, by post or exclusively online
You will need a business bank account for withdrawals & deposits
Fully regulated with deposits up to £85,000 protected by the FSCS

Mansfield Building Society Business Savings

Website

Dudley Building Society Local Business Notice Accounts

Offer two notice accounts to businesses & charities, clubs or communities
The notice periods available are 30 or 90 days
With variable interest rates of 4.05% or 4.15% AER
This is paid annually on the 31st March
Notice must be given for, or interest will be forfeit on the withdrawn amount
An initial deposit of £1,000 is needed, this is also the operating balance
You can save up to a maximum of £1 million
Accounts can be opened at Dudley BS branches or sending application by post
Deposits up to £85,000, that are eligible, are protected by the FSCS

Dudley Building Society Business Savings

Website

NatWest Liquidity Manager Notice Account

Offer two accounts, with 35 or 95 day notice periods
You will get interest rates of 3.00% or 3.75% AER
On all balances as no minimum or maximum limits apply
Interest is calculated on your daily balance & applied on the last business day of each month
It is also variable meaning it is subject to change
No early withdrawals are permitted, you must give notice
Accounts can be opened in-person or online
Then manage in your local branch, online or by phone
Business deposits benefit from FSCS protection, up to £85,000

Website Read our in-depth NatWest review

Royal Bank of Scotland Liquidity Manager Notice Account

Choice of two accounts with notice from 35 to 95 days
Earning you rates of 3.00% or 3.75% AER
On all balances as is no minimum or maximum savings limit
Interest is calculated on your daily balance & paid on the last business day of each month
The rates are also variable & so subject to change at any point
Early withdrawals are not allowed, you must give notice
Open an account at your local RBS or apply online
You can then manage your deposits online, in-branch or by phone
Eligible deposits, up to £85,000, are covered by the FSCS

Website Read our in-depth Royal Bank of Scotland review

What is the best business notice account?

Here's what we think are the best notice accounts for your business and what for:

Best business notice account overall: Allica Notice Business Savings Accounts · Rates up to 5.01% AER
Best 35 day notice: Redwood Notice Accounts · Rates up to 4.60% AER
Best 90 day notice: Dudley Building Society Local Business Notice Accounts · Rates up to 4.15% AER
Best 120 day notice: Virgin Business Notice Accounts · Rates up to 4.59% AER
Best 180 day notice: Recognise Business Notice Accounts · Rates up to 4.50% AER
Best for highest interest: Allica Notice Business Savings Accounts · Rates up to 5.01% AER

What is a business notice account?

A business notice account is a savings account that requires notice to be given before withdrawals can be made, or if you want to close your account.

You can normally make multiple deposits at any time but access varies from seven days to 180 days of prior notice

What is the highest interest rate available for business notice accounts?

Currently the highest interest rate available on a business notice account is offered by Allica Bank with 5.01% AER (variable) from their 180-day notice account.

Who can open a business notice savings account?

The majority of businesses should be able to get a notice account. This includes sole traders, limited companies, partnerships and even charities.

With this said the eligibility criteria for getting a business notice account will vary from bank or building society, so make sure you read the requirements properly before applying.

How to open a notice business savings account

The most common ways to open a notice account for your business include applying online or in-app, by email, telephone, or by visiting a branch (this is usually the case for building societies).

Frequently asked questions

It's not uncommon to have questions when looking in to business banking, especially for the first time. These are some of the most relevant questions for business savings accounts:

AER is the annual equivalent rate, it shows the annual rate at which interest is paid and compounded.

Yes, the interest rate for business notice accounts is variable meaning it can be changed at any time by the bank or building society, usually after written warning.

Yes, but as their name suggests you have to give notice before you can have your money. For example if you have a 30 day notice account you would have to give 30 days notice of how much money you would like to withdraw.

If you're looking for competitive rates but don't have the patience to lock your money away in fixed term business bonds then business notice accounts are a great option.

The interest rates can be as high as those offered by bonds but you can still access your money within reasonable time-scales and you can even make further contributions, meaning you could save more.

Compare Business Notice Accounts