This account is now operated by Santander Bank Although there are two accounts that they offer there you may as well just apply for the free business bank account deal because you will never have a pay a penny in charges.
The Alliance and Leicester free business current account offers exactly what it says which is completely fee free day to day business banking (which no other UK bank offers for businesses). You also get access to your account via internet banking, telephone banking or via the entire post office counters network.
Additionally your money earns interest whilst in the account at nearly three times most other banks. A Summary of what's on offer:
If you are new to business then you'll likely be placed onto the business builder bank account for the first 2 years and then be transferred on the free account as described above.
The business builder account is designed for new businesses with turnover up to £500,000 and apart from providing fee free banking you get access to other benefits as well, including:
Alliance and Leicester are the only UK bank to offer free business banking for the life of your business. Most other banks offer 18 months of free banking and then put you on their standard tariff which can mount up if you process many transactions.
We rate this account 10 out of 10.
Of course a business current account is not the only service product offered here and they also have a range of business savings accounts to make your money work a little harder.
As a bank they also have a range of business funding options including but not limited to a competitive interest overdraft facility, business loans for between £3,000 and £25,000 at competitive rates which can be spread over 1 and 5 years depending on your circumstances and commercial mortgages and invoice financing which is provided by Bibby Financial services.
Alliance and Leicester Bank was bought out by one of the world's largest banks in October 2008 called Santander who also own some of the UK's other banks. Over the coming years it's likely that all their properties will be merged into one under the Santander name which could mean a consolidation of high street branches. However, we are told that their free business banking product will remain so we recommend you apply for this excellent deal for your business today.