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Business Plus Account

For businesses with turnover under £250,000

To apply for the Business Plus Account, you need to be aged 18 or over and your business should have an annual turnover of less than £250,000 and less than £25,000 total borrowing

Business Plus Account More suited for those who don't need branch banking as often

With our Business Plus Account, you can earn interest on your current account and benefit from reduced banking charges by doing your business banking online and over the phone.

It's more suited for  businesses that don’t need branch banking very often (and those who have a business with less than £250,000 annual turnover).

 

 

 

Business Plus Account Overview


An account more suited to banking online and by the phone – our monthly account management fee is £5, although additional charges will apply when you withdraw cash or carry out some transactions at one of our branches.

Free automated transactions – most of our transactions using Digital or Telephone banking – including bill payments, BACS payments, Direct Debits, standing orders are free of charge. ATM withdrawals are also free using your debit card.

• Tiered interest on your current account – earn interest when your account is in credit.

Banking when you want – with Digital banking and Telephone banking you can set up payments, transfers and more, 24 hours a day, seven days a week. Plus Mobile banking keeps you in touch with your finances when you’re on the move.

A Business Manager Team or Relationship Manager – to offer you support either face-to-face or by phone.

A Business Debit card – for your day-to-day business purchases.

Business Plus Account Charges and interest

Our Business Plus Account is only available to business customers with an annual turnover of less than £250,000 and less than £25,000 total borrowing.

The monthly account management fee is £5, although additional charges will apply when you withdraw cash or carry out some transactions at one of our branches. (Extra charges can be applied for chargeable interest, security or lending related fees and charges for additional services.)

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Icon expand I want more information on charges and charging periods

To learn more about the charges for available additional services, you can read the below charges information documents for a more detailed explanation of what they are and what the costs are too.

Charging periods are also explained in more detail within the Business Account Terms document.

Download Scotland Business Account charges information Download England & Wales Business Account charges information Download RBS Business Banking Terms and Conditions
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Icon expand Does this account pay credit interest?

Rates of interest across all the savings tiers on the Business Plus Account are subject to variation. Interest paid will be applied on the penultimate Business Day of March, June, September and December and calculated 14 days before application.

        

 

Gross rate % per annum

AER %

Net rate % per annum

£0 - £1,999

0.05

0.05

0.04

£2,000 - £9,999

0.05

0.05

0.04

£10,000 - £24,999

0.05

0.05

0.04

£25,000 - £99,999

0.05

0.05

0.04

£100,000 - £249,999

0.05

0.05

0.04

£250,000+

0.05

0.05

0.04

Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Gross Rate. This means the interest rate you are paid before the deduction of tax.

Net Rate. This means the interest rate you are paid after the deduction of tax.

See our other services to help your business

Our team of Business Managers

Digital & Mobile Banking

Direct Banking

 

Digital Banking is available to RBS account holders and our mobile app is available to RBS Business Account holders, who are registered for Digital Banking. Our app is available on selected smartphones, to RBS customers with Digital Banking and a UK mobile number beginning 07.

 

How do I apply?
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Icon expand Already have an RBS Business Account?

If you already have an existing RBS Business Current Account, you can explore changing your existing account to a Business Plus Account.

To do this, you will need to speak with your Business Manager Team or Relationship Manager

If you're not sure who your best point of contact is, feel free to give us a call:  

0800 068 6939

(Minicom 0800 404 6160)

Lines are open Mon to Fri 8am-7pm (excl. public holidays). Calls may be recorded.

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Icon expand Don't have an RBS Business Account yet?

Applying online


Whether you're a sole trader, partnership or Limited Company, you can start your application online.

Once we've got your application, we'll then send you an SMS to call us, so we can run through some final checks before we continue with your application.

It's also a great chance to talk through any questions you've got about starting out with one of our business advisors.

Start your application online

Applying by phone


Rather speak to someone straight away or look to arrange a face to face appointment?

Give our business team a call who can start your application or help set you up with an appointment locally.

They may also be able to help with any questions you have about starting out.

0800 068 6939

(Minicom 0800 404 6160)

Lines are open Mon to Fri 8am-7pm (excl. public holidays). Calls may be recorded.


Foundation Account

If you don’t qualify for our Business Plus Account, for example if you have a poor credit history,  we will talk to you about our Foundation Account when we receive your application.

There are no borrowing facilities available with a Foundation Account.

RBS Business Banking Need any more help?
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