Easy access business savings accounts that sit right next to your payments.

A business savings account is designed to hold money your business doesn't need for day-to-day spending, so it can earn interest while it sits there. A business current account, by contrast, is built for regular transactions (paying suppliers, receiving payments, running payroll) and usually pays little or no interest. Many businesses use both: a current account for everyday cash flow and a savings account to grow a reserve of surplus funds.

With Telleroo, you get the best of both. Rather than juggling a separate savings account and current account, you get one place to hold and grow your surplus cash while also paying suppliers, running payroll, and receiving invoice payments.

There's no legal requirement to have one, but keeping surplus funds in a savings account rather than your current account has real advantages. It usually earns interest, makes it easier to track money you've set aside for tax bills, emergencies, or future investment, and creates a bit of friction that discourages dipping into savings unnecessarily. If you're using every pound each month, a current account alone may suffice, but as soon as you're holding a buffer, a savings account puts that money to better use.

Easy access accounts let you deposit and withdraw money whenever you need to, offering flexibility but usually at a lower interest rate. Fixed-term (or notice) accounts require you to lock your money away for a set period (anywhere from a few months to several years) or give advance notice before withdrawing, in exchange for a higher interest rate. The right choice depends on whether you need quick access to the funds or can commit to leaving them untouched.

Yes, businesses can open as many savings accounts as they like, whether with one provider or several. This can be useful for separating savings by purpose (for example, a tax reserve versus an emergency fund) or for spreading deposits across institutions to increase FSCS protection.

Yes. If your provider is a UK-authorised bank, building society, or credit union, your business savings are protected by the Financial Services Compensation Scheme (FSCS) for eligible deposits up to a maximum of £120,000 per depositor, per institution (increased from £85,000 in December 2025). If you hold more than that with one provider, spreading funds across multiple FSCS-protected institutions keeps the full amount covered.

Many providers let you open a business savings account entirely online, often within minutes if you already bank with them and have your documents ready. If you're a Telleroo user and you meet the eligibility criteria, you can open a savings account in as little as 1–2 working days.

A common guideline is three to six months' worth of operating expenses, giving you a buffer for slow periods, unexpected costs, or delayed payments. The right amount depends on your industry, how predictable your revenue is, and any upcoming tax or investment commitments. Businesses with seasonal or 'lumpy' income often benefit from a larger cash cushion.

Interest is accrued daily and paid monthly, on the first calendar day of the following month.

No, savings accounts must be opened by a director of a UK limited company. However, once your client has opened a savings account, you'll be able to move money into and out of the account if you have the 'Approver' role in your client's Telleroo account and have the authority to approve payments on your client's behalf.