Established and Growing business account

Business Plus Instant Access Savings account

1.46% gross

1.47% AER

Interest is calculated daily and will be paid into your account on the 5th of the month. Where these dates fall on a non-business day, interest will be paid on the preceding business day.

The interest rate will always be set at a rate higher than the rate payable under our Business Instant Access account.

Yes. The interest rate is variable, which means it can go up or down.

When we increase our interest rates: the new interest rate will apply immediately and we will tell you about the change within 30 days of applying it by displaying information on our website or by branch notices, national press advertisements, statement messages or inserts, or by writing to you (this can include email), or by any combination of these methods.

When we decrease our interest rates: we will tell you by personal notice at least two months before we make the change. Personal notice means by post or email.

For full details of the circumstances in which we may change interest rates, please refer to our Terms and Conditions.

£1,014.70 balance after 12 months

£1,000 deposit

£14.70 interest earned

This example is for illustrative purposes only and assumes:

• there has been no interest rate change in the 12 months
• you have not made any additional deposits
• you have not made any withdrawals

Please note: this example is intended to illustrate the interest that would be earned after 12 months. The balance shown does not take account of the fact that interest is paid on the 5th of each month, rather than 12 months after account opening.

Can I/we apply for this account?

To be eligible for this account, your business must hold our ‘Business Bank Account Plus’ account and have a business address in the UK.

All key individuals to the account must:

•  be 18 years old or over
• have had no County Court Judgements (CCJs) in the last 6 years
• not have been declared bankrupt or entered into an IVA in the last 6
  years
• not have missed any payments on personal credit obligations in the last
  6 months
• reside in the UK.

If you are a Limited Company the following criteria also applies:

• The directors have never been disqualified
• The business has never been subject to insolvency, or an intention to dissolve
• The business has not had a negative net worth in the last set of
  financial accounts

How do I/we apply for this account?
You can apply for an account by completing an application form in one of the following ways:

• Complete and submit the online application form on our website.
• Apply in any of our branches by asking a member of our team for help.

Customers who already have both a business account and a Business Instant Access account - you can ask us to convert your account to the
Business Bank Account Plus and Business Plus Instant Access account tariff, this can be done by contacting us by telephone.

If you only have a business account you will need to complete the online application form on the website to request us to convert your  account to the Business Bank Account Plus and apply for a new Business Plus Instant Access Account at the same time.

Is there a minimum and a maximum balance?
No, there is no minimum or maximum balance.

How do I/we make deposits into this account?
You can pay money in by:

• Immediate funds transfer from your linked Co-operative Bank Business Bank Account Plus account

How do I/we contact you to discuss this account?
You can contact us by telephone to discuss this account.

Yes. You can withdraw your money at any time as this account has no restrictions on withdrawals.

You can make withdrawals through the following ways:

Online banking - through electronic transfers to your linked Co-operative Bank Business Bank Account Plus

Telephone banking - through electronic transfers to your linked Co-operative Bank Business Bank Plus account.

We will pay interest without deducting tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs.

If you are not sure whether you will have to pay tax, we recommend that you contact your local tax office or HM Revenue & Customs.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on the particular circumstances of your business.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
The information provided in the boxes above is a summary of the key features of this savings account and is not to be a substitute for reading its Product Terms and Conditions.