Overview
Allica Bank, at a glance.
Allica Bank is a bank headquartered in the United Kingdom, regulated by PRA. Business accounts cost £0 a month. Opening an account takes 3–5 days.
Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000, across all your eligible accounts at Allica.
Why businesses pick Allica Bank
- No monthly fee while your balance averages £10,000 or you hold an Allica loan
- A licensed UK bank with FSCS protection up to £120,000
- 1% cashback on card spending, rising to 1.5% above £10,000 a month
- A dedicated relationship manager and UK-based support
- Free team expense cards, with up to 20 virtual cards each
- Trustpilot score of 4.6 from more than 1,900 reviews
Watch out for
- Only for established UK-based businesses incorporated for at least 12 months
- You need to keep £50,000 or more in the account, or hold an Allica loan
- Applicants must be UK residents
- Incoming international payments must be in pounds
- Payments out are limited to euros, dollars and pounds, with Wise's fee and rate
- Crypto, payment and money service businesses, charities, gambling and some other industries are not accepted
Business fit
Will Allica Bank accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Allica Bank's published rules
Likely fit
Allica Bank lists both United Kingdom companies and Startups and SMEs as accepted.
Allica Bank does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Allica Bank publishes about the businesses it takes on.
Who Allica Bank serves
- Startups and SMEs
- Professional services
- Import and export
Not supported
Industries and countries Allica Bank does not accept, from its own published lists.
Industries
- Adult entertainment industry
- Animal testing
- Firms involved with the production or development of nuclear technology, weapons or related materials
- Embassies/consulates
- Non-governmental organisations
- Extractive Industries (coal, lignite, crude petroleum or natural gas)
- Professional football clubs
- Casinos or gambling/betting establishments, including online
- Unlicensed production or distribution of controlled drugs and pharmaceuticals or the production or distribution of "legal highs"
- Marijuana
- Dealers of precious metals and stones
- Unregistered or unregulated charities
- Payment Service Providers and Money Service businesses
- Firms that deal in crypto/digital/virtual currencies
- Firms operating without licenses in sectors that require licenses
Countries
- Not published
Coverage
Where can you use Allica Bank?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
GBP
Payments out in EUR and USD; incoming international payments must be in GBP.
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- United Kingdom
Owner nationality
Not publishedOwner residency1 countries · show list
- United Kingdom
Company types
Not publishedPricing
What does Allica Bank cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
Free
Business Rewards Account
£0 per month
Setup fee not published
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| Faster Payments (GBP) | Free | No charge |
| Outgoing | ||
| Faster Payments (GBP) | £0.12 | Fixed fee · After 150 free payments a month |
| CHAPS (GBP) | £20 | Fixed fee |
| SWIFT / international | Not published | Wise's fee and exchange rate apply, shown before you confirm |
Other fees
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Card FX | Free | No charge · Visa exchange rate, no Allica fee |
| ATM withdrawal | Free | No charge · The ATM operator may charge |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Allica a bank?
Yes. Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the FCA, reference 821851. Eligible deposits are protected by the FSCS up to £120,000.
How much does the Business Rewards Account cost?
There is no monthly fee, but if your average balance in the previous month was under £10,000 and you have no Allica loan, it costs £25 a month. Faster Payments are free up to 150 a month, then 12p each; CHAPS costs £20.
Who can open an Allica business account?
UK-based businesses incorporated for at least 12 months that keep £50,000 or more in the account or hold an Allica loan. Allica says applicants must be UK residents aged 18 or over.
Which businesses does Allica not accept?
Its list includes adult entertainment, gambling, crypto, payment and money service businesses, dealers in precious metals and stones, extractive industries, non-governmental organisations and professional football clubs.
Alternatives
How Allica Bank compares.
If Allica Bank is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Allica BankThis pageBank |  | CashbackEstablished SMEs |
| Starling BankBank | | Free accountDeposit protection |
 Zempler BankBank | | Free planDeposit protection |
 MettleBank | | Free accountDeposit protection |
 Monzo BusinessBank |  | Free planDeposit protection |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.