Santander business banking offers an excellent range of business solutions for small and medium business enterprises. Products offered by Santander that may of interest to entrepreneurs include their business saver direct account, their time deposit and the business reward saver.
Business Direct Saver
It is very important to think about how you want your extra funds to ‘work for you’ when you start to turn a profit from your business. The business direct saver offered by Santander is very flexible, for example, you are able to give your staff or other approved individuals direct access to your account if needed. In addition the interest rate offered by Santander is extremely competitive.
Time Deposit
The Santander time deposit is an account that pays you a good interest rate if you want to lock your money away for a pre-determined period of time. Of course, this account is mostly suitable for SME’s who don’t need immediate access to their savings. A time deposit with Santander can span from 28 days to one year, depending on your specific requirements.
Client Business Reserve Account
The client business reserve account allows your clients’ money to be pooled in distinct and separate accounts or in one pooled account. With this account, you have full and instant access to client money via phone, ATM or online.
Rates and Charges
The rates and charges offered by Santander are very competitive. The business direct saver account offers a rate of 0.20%, the business reward saver offers a rate of 0.08% and the fees and charges for each of these accounts remain comparable with other high street banking options.
Special Offer
At present, there are some excellent interest rates available with Santander, so it is worth heading over to the Santander website and exploring the various special deals on offer. For example, at present, Santander is offering 2.50% on a 1 year Fixed Rate Business Bond.
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