The Moneybox Business Saver and current accounts each serve an important purpose, but figuring out which is right for your small business can be tricky. This guide gives you a breakdown of their key differences, benefits, when to use them, and which is right for your business needs.

 

Differences between our Business Saver and current account

 

Moneybox Business Saver Business current account
Use it for Earn interest on business savings, build business resilience, and improve cash-flow management. Day-to-day transactions, receiving payments, and paying bills.
Interest rates Often offer higher interest rates. Generally low interest rates or zero.
Withdrawals Some may have withdrawal restrictions. Typically instant transfer.

 

Benefits of the Business Saver

 

  • Earning high interest. The Business Saver offers a competitive interest rate, allowing you to earn interest on your business cash reserves.
  • Financial safety. Helps to build financial resilience while growing business savings.
  • Cash-flow management. Keep your business savings, tax fees, and expenses separate so you can keep track of your company’s finances.

 

Benefits of a business current account

 

  • Transactional ease. Designed for frequent transactions, making it easy to manage daily operations.
  • Payment processing. Facilitates quick payments to suppliers and employees.
  • Instant access. Funds are usually available for withdrawal immediately.

 

 

Which is right for small UK businesses?

 

Together, the Business Saver and business current account can make a great team, but they fulfill different needs. For day-to-day transactions, a current account is essential. For saving and growing cash reserves, our easy access Business Saver could be a great option for small businesses in the UK. Here’s when to use each…

 

When should you use a Business Saver?

 

Here are a few of the most effective uses of the Moneybox Business Saver for small business’ in the UK:

  • Building an emergency fund
  • Saving profits and cash reserves
  • Earning interest on your business savings
  • Creating a strong balance sheet to show lenders you’re financially responsible

 

When should you use a business current account?

 

Here’s when you should consider using a business current account for your small business:

  • You need an account for everyday transactions
  • You need somewhere to process payments and pay suppliers or employees
  • You want instant money transfers
  • Growing your business’ money isn’t your priority right now

 

What is the best easy access business savings account?

 

The best easy access business savings account depends on your specific needs. You should take into account interest rates, fees, how much flexibility you’ll have on withdrawals, and how easy the platform or app is to use.

 

What is the best easy access business savings account for sole traders?

 

Sole traders may benefit from flexible, easy access business savings accounts, which give them better control over their cash-flow management.

 

What is the best easy access business savings account for limited companies?

 

Limited companies may want to consider easy access business savings accounts with higher interest rates, which allow them to earn on their cash reserves and build resilience in their business.

 

Introducing, the Moneybox Business Saver

 

The easy access Moneybox Business Saver can be used to optimise your cash flow management and take control of your company’s finances. T&Cs apply.

 

Who is the Moneybox Business Saver for?

 

The Moneybox Business Saver is for sole traders and directors of limited companies who want to:

 

  • Earn a competitive rate on their cash reserves
  • Build a financial safety net for their business
  • Create a strong balance sheet
  • Optimise your cash-flow management

 

What are the main features of the Moneybox Business Saver?

 

Check out the main features of the Moneybox Business Saver, all in one easy-to-use app that over 1 million people trust with their money.

 

Moneybox Business Saver
Build your business’ future with confidence Earn interest on your business’ cash reserves, build a financial safety net, and elevate your cash-flow management.
Interest rates High interest. Earn 4% AER (variable) on your business’ savings.
Fee free Enjoy zero fees or charges with the Moneybox Business Saver.
Withdrawals Withdrawals are paid into your chosen bank account the next working day.
Account for cash flow fluctuations Smooth out the rough times by growing your cash reserves with a high interest rate.
Optimise your cash flow management Use it to keep your business savings, tax fees, and expenses separate so you can keep track of your company’s finances.

 

How to open our easy access Business Saver

 

The Moneybox Business Saver is coming soon! Watch this space for more updates.