*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
To open a business account with us you must be:
When you apply to open an Aldermore account you must give us details of a current account in your business’s name. We call this your linked nominated account. Your business current account provider must be a UK bank or building society, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Your business current account must allow electronic transfers to be made and received, and we may ask you to send us a bank statement to confirm your account details.
There are certain types of bank account that we can’t accept as your linked nominated account, as they aren’t fully licensed and regulated. These include accounts held with e-money providers.
We can't accept client money or hold accounts in trust.
We need to check your identity and address before we can open an account for you. This will mostly be done electronically, but we may need you to send some identification to us.
If we ask you to provide identification documents, we'll include details about how to do this when we get in touch.
You can make payments from your linked nominated account, using one of the following options:
We don't accept cheque or banker's draft payments.
Please don’t send any money until we’ve confirmed that your account is open, as we won’t be able to allocate it to your account and it may be returned.
These are the details you'll need when making a deposit:
Account number: Your Aldermore business savings account number (you can find this 8 digit number on the first screen of internet banking listed under accounts)
Our sort code: 23-33-43
Beneficiary name: Your business name
Payment reference: You can choose your own, although we suggest Aldermore Business Savings.
If you have an existing Aldermore business savings account that allows transfers, you can also move money to your new account.
Log into internet banking and select ‘Move Money’ on the menu bar.
For Fixed Rate accounts you have 14 days to make your first payment to benefit from the rate guarantee.
Please be aware that we don't use confirmation of payee. If you're paying money in from a bank account that does use this service, payments to your Aldermore account will show confirmation of payee unavailable. This doesn't mean your deposit has been unsuccessful or stop you paying in. If you're in any doubt, always check with your bank.
When you open an account with us you set the frequency that we pay your interest to monthly, annually or at maturity. You can't change this once the account’s opened.
At account opening you can also choose to have your interest paid to the account, your linked nominated bank account or your Easy Access account if you have one. You can change where the interest goes at any time in internet banking.
We calculate interest daily on your cleared account balance.
No, we don't apply any fees or charges for standard account services. We may charge you for any exceptional, non-standard services which are available on a discretionary basis.