Money News
Alliance & Leicester Commercial Bank has improved it offering to the small business market with the launch of the Free Business Current Account.
It provides free and unlimited day-to-day banking with free standing orders, direct debits, ATM withdrawals and BACS and electronic payments, as well as free and unlimited cheque payments in and out of the account.
In addition, small business owners will be able to make £4,000 worth of free cash deposits each month. Customers wishing to deposit more than this will pay 35p per £100 deposited.
For companies with an annual turnover of less than £1million the Free Business Current Account offers what A&L claims is a market leading 6.00% AER credit interest rate for balances up to £1,000 - A&L guaranteeing that customers will receive 0.60% above Bank of England base rate until June 30th 2008. Balances above £1,000 will receive a fixed interest rate of 0.10% gross.
The Free Business Current Account requires customers to credit their account with £1,000 per month or a £5 fee is charged for that month only.
17 April 2007 © Moneyextra.com
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