• Instant Access Account

    Ideal for businesses with fast-moving cashflow. These accounts help customers make the most of their day to day surpluses whilst giving them instant access to their funds.

  • Reasons to choose our Instant Access Account

    • Instant access
    • £1 minimum, £5 million maximum
    • Tiered interest is calculated daily and paid monthly

    Summary box

    Account name Business Instant Access
    What is the interest rate?
    Interest rate 0.05% Gross/AER
    You'll earn interest on balances of £1 or more. Interest is calculated each day and paid monthly.
    Can TSB change the interest rate?

    Yes. We can move the interest rate up and down at any time. Our Terms and Conditions explain when we'll do this.

    If we increase the interest rate, we'll make details of the rate change available in branch and on our website, within 3 days of the changes. If we decrease the interest rate, we'll let you know personally and give you at least 2 months' notice.

    What would the estimated balance be after 12 months based on a £1,000 deposit?

    Based on a £1,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same:

    Initial deposit

     
    £1,000
    Interest earned at 0.05% Gross/AER
    £0.50
    Estimated balance after 12 months
    £1,000.50
    This is an example only and doesn't take into account your individual circumstances.
    How do I open and manage my account? Ways to open
    • Over the phone
    • In branch
    • Online
    Who can open You must be:
    • 18 or over; and
    • A UK resident
    Open with
    • £1 minimum opening balance
    Manage your account
    • In branch
    • Over the phone
    • Online
    Can I withdraw money? Withdrawals allowed

    Yes, instant access

    Notice period
    None
    Withdrawal charges No withdrawal penalties apply
    How to withdraw

    To a TSB Business Current Account in the business name

    Additional information
    • Accounts can only be opened in the business name
    • Interest is paid gross (without taking off tax)
    • If you earn more interest than the Personal Savings Allowance, you may have to pay extra tax yourself
    • The Personal Savings Allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Additional rate taxpayers do not receive a Personal Savings Allowance

    Rates and information correct as at 04/09/16.

    AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allow you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

    Gross rate means that credit interest is paid without income tax being deducted.

    Before you apply

    To apply online for an Instant Access Account from TSB you will need to confirm the following:

    • You are a sole trader, partner, or director
    • You are aged 18 or over
    • You require the account for business use
    • Your annual business turnover

     

  • Financial Services Compensation Scheme

    Financial Services Compensation Scheme Logo

    Visit fscs.org.uk to find out more

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