What is the Moneybox Business Saver?
The Moneybox Business Saver allows sole traders and limited companies to earn interest on cash reserves. Use it to optimise your cash flow management and take control of your company’s finances.
T&Cs apply.
Who can apply?
To apply for a Moneybox Business Saver you must be a director of a limited company registered with Companies House, or a sole trader.
How can I open a Moneybox Business Saver?
The Moneybox Business Saver is launching soon. Watch this space for more information.
What can I use it for?
Whether you’re a sole trader creating a life that works for you or a small business owner pursuing your passions, here’s how the Moneybox Business Saver could help you.
- Create a financial safety net. Smooth out the rough patches with extra reserves.
- Optimise cash flow management. Keep your business savings, tax fees, or expenses separate so you can keep track of your business’ finances.
- Invest in your business. Earn 4% AER (variable) on your cash reserves and reinvest in your business.
- Boost your balance sheet. Show potential lenders and investors that you’re financially responsible.
Why open a Business Saver vs current account?
| 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. |
How often can I withdraw?
The Moneybox Business Saver is easy access. You can withdraw once per day and will receive the funds in your linked bank account the next working day. Your interest rate won’t be affected by the number of withdrawals you make.
How much can I deposit?
You can deposit up to a maximum of £1 million into your Business Saver.
Is my business’ money FSCS protected?
Yes! Your money is FSCS protected on up to £85,000 per third party bank.
Eligible deposits will be protected by FSCS up to £85,000 across the total amount of money you have with each third party bank, whether deposited directly with the bank, or through Moneybox or an alternative provider. Your fundsFunds, also called ‘tracker funds’, are financial instruments that have been set up to match or ‘track’ the price of a market index. Investing in a fund lets you get exposure to different financial assets like shares and bonds, without having to buy them directly. are protected by the Financial Services Compensation Scheme.