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 on balances up to and including £4,999.99 0.15% Gross/AER
Interest rate on balances of £5,000 and over 1.00% 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 or 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 change. 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 £1,000.00
Interest earned at 0.15% Gross/AER £1.50
Estimated balance after 12 months £1,001.50
This is an example only and doesn’t take into account your individual circumstances.
What would the estimated balance be after 12 months, based on a £6,000 deposit?

Based on a £6,000 deposit, with no withdrawals made from the account, and variable interest rates remaining the same:

Initial deposit £6,000.00
Interest earned at 1.00% Gross/AER £60.00
Estimated balance after 12 months £6,060.00
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
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 don’t receive a Personal Savings Allowance
  • AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows 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.
Rates and information correct at 02/11/2018

Before you apply

To apply for a 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

FSCS
 
 
 
 

How to apply

Existing TSB Business customers:

If you want to open a Business Instant Access account please call us on 0345 835 3858.

Lines are open 8am to 6pm Monday to Friday and 9am to 2pm in Saturday.

New customers:

We are currently unable to accept or process applications for new TSB customers either online, over the phone or in-branch.

We understand this is inconvenient and are very sorry we can’t help with your request at the moment.

Useful documents

Please find  key documents and further information on our legal page.

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Speak to a Relationship Manager on 0345 835 3858.

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