Is Allica Bank right for me?
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
FSCS protects eligible deposits up to £120,000 per person, per authorised institution.
Quick answer
Allica could suit an established business with £50,000 or more to keep in the account, that spends on card and wants a relationship manager. It’s not designed for start-ups.
Allica Bank at a glance
| Question | What we found |
|---|---|
| Monthly fee? | £0 or £25 depending on balance |
| Eligibility? | 12+ months trading, £50,000+ deposit or Allica loan |
| Cashback? | Up to 1.5% on card spend |
| Savings pot? | Up to 4.08% AER with boosts |
| Relationship manager? | Yes |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change. This is general information, not a recommendation.
Who it’s for
- Your business has traded 12+ months
- You can keep £10,000+ on average to avoid the fee
- You’d earn cashback on card spend
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You’re a start-up
- Your balance often dips below £10,000
Full explanation
Model your monthly balance with our business cashflow calculator to see whether you’d stay above £10,000.
The catch
The headline savings rate depends on boosts.
Read the full Allica page or check its site.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Can sole traders use Allica?
Allica’s current account is for businesses trading 12+ months; check its eligibility page for your business type.
Does Allica have branches?
No, it’s digital with UK-based support and relationship managers.
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