Allica Bank

Allica Bank is a UK-based financial institution that caters specifically to established businesses, typically those with 10-250 employees. This segment represents a significant 30% of the UK economy, yet often struggles to find suitable banking services. Allica Bank aims to fill this gap by offering a blend of human expertise and advanced technology to provide a superior banking experience.

The bank operates in the business banking market, offering a range of services including business savings accounts with competitive rates. Allica Bank's business model is based on earning interest from the money deposited by its customers. It offers an attractive annual equivalent rate (AER) of over 5% on savings, which is higher than many competitors. This means that businesses can earn more from their savings, providing an incentive to choose Allica Bank.

Allica Bank also ensures that its customers' deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This provides an additional layer of security for businesses, as any deposits up to this limit are guaranteed to be safe.

The bank operates primarily online, with a simple application process, but also has relationship managers across the country to provide personalized service. It has offices in Milton Keynes, London, and Manchester, and its services are available from 9am to 5pm, Monday to Friday.

Keywords: Business Banking, Established Businesses, Competitive Savings Rates, Financial Services Compensation Scheme, Deposit Guarantee, Online Banking, Personalized Service, UK Economy, Interest Earnings, Deposit Protection.