Business current account

Current Account icon

Simple. Reliable. Fair. That’s what a current account should be. Our Business Current Account makes managing your day to day banking easy.

Account Features

  • Experienced customer service team 
  • Overdrafts available subject to application
  •  Visa debit Card
  • Access to counter services at high street banks nationwide
  •  Internet banking
  • Experienced customer service team 
  • Overdrafts available subject to application
  • Internet banking

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if we as a Bank fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Finanacial Services Compensation Scheme.

Features

Everyday banking

A simple and practical current account for managing your businesses day-to-day banking transactions. 

Everyday banking made easy 

Your business current account comes with:

•    A Corporate Visa debit card and chequebook for making payments 
•    Dual i-bank authorisations if you need them
•    A paying in book for making deposits at any branch of Lloyds, Barclays, HSBC or Bank of Scotland
•    Access to i-bank (internet banking) so you can view statements and make payments online

Fair fees 

There’s no one-size-fits-all here. Our Relationship Manager will work with you to decide on the account fee or tariff that best reflects the way you expect to use your account. 

Paying in and cash handling

Subject to a transaction volume and cash handling assessment, counter services can be made available through high street Banks.

Quarterly statements 

We issue your current account statement electronically every 3 months. Going paperless keeps costs down and is better for the environment.

 

  • A Corporate Visa debit card and chequebook for making payments 
  •  Dual i-bank authorisations if you need them
  • Access to counter services at Lloyds, Barclays, HSBC or Bank of Scotland
  • Access to i-bank (internet banking) so you can view statements and make payments online

Overdrafts

All being well, you’ll never need to dip into it. But if you’ve ever experienced fluctuating cash flow (which many charities do from time to time), a pre-agreed overdraft facility allows you to bridge the gap and meet your financial commitments without incurring charges. 

Unauthorised overdrafts
Borrowing funds without authorisation can become an expensive business. We will always do our best to help you avoid unexpected costs, but the fact is, if you go over your agreed overdraft limit, or if your account becomes overdrawn with no agreement in place, a fee will be charged. If you try to make a payment or if direct debits or standing orders are presented for payment, and you don’t have enough funds in your account, these items may be returned unpaid. Again, you may be charged a fee for each unpaid item. Please read our overdraft terms and conditions carefully so you understand the importance of having the right borrowing arrangements in place. If you have any questions about the suitability of your overdraft, please contact us on 0207 398 5400.

 

Switch in 7 days

If you already have a charity current account with a UK bank or building society and you want to switch it to Reliance Bank, we’re here to make sure everything happens simply and smoothly. It is guaranteed to take 7 working days and it’s free. It’s all part of the Current Account Switching Service.

To switch your account to us, start by opening a Business Current Account.

 

 

  • Here’s what the Current Account Switching Service guarantees:
  • You open your new account
  • You pick a switch date
  • We take care of closing your old account and moving your balance to your new account
  • We move all your payments, coming in and going out, from your old to your new account
  • We will redirect any payments accidentally made to your old account and get the sender to correct your details
  • We will refund you for any missed payments of fees incurred as a result of your switch

Receiving money from outside the UK

Things you need to know before receiving a payment.

The overseas bank sending the payment to you will need to know the following information about the account you wish to be credited. Providing this information will help to ensure that the payment happens as quickly as possible.
•    Reference: (insert a ref if needed)
•    Bank:    HSBC
•    Bank Address:      27-32 Poultry London EC2P 2BX
•    Swift Code/BIC:    MIDLGB22
•    Beneficiary Account Name:    Reliance Bank Ltd
•    Beneficiary Address:    Faith House, 23/24 Lovat Lane, London, EC3R 8EB
•    IBAN: GB70MIDL40053041376543 (please add your full account name and account number for further credit)

It’s possible for you to receive money into your account from outside the UK in either foreign currency or Sterling.

If money is received in a different currency to what your account is held in, we'll convert it using the most up to date HSBC Exchange Rate available before crediting it to your account.

Apply

Apply
1)    Read our key documents
2)    Complete the Business Enquiry Form 
3)    Refer to What you need to open a business account
4)    We’ll assess your application 
5)    We’ll set up your account

Read our key documents
1)    Reliance Bank Business Terms and Conditions
2)    What you need to open a business account

Complete the Business Enquiry Form and Business Account Opening Form 
Our Business Enquiry Form and refer to What you need to open a business account. The Business Enquiry Form is a paper application form so please print it out, complete it and send it to us at:
Reliance Bank, Faith House, 23-24 Lovat Lane, London EC3R 8EB.

We’ll assess your application
•    The answers you give in the Business Enquiry Form will help us to give you an indication of your potential bank charges.
•    We assess the organisation’s applying for our accounts to make sure their practices don’t conflict with our ethos.

We’ll set up your account
If your application is successful, we’ll set up your account and send you a welcome pack.
 

Business Current Account documents
  • Read our key documents
  • Complete the Business Enquiry Form
  • Refer to What you need to open a business account
  • Send the completed form and proof of identity and address to us
The Salvation Army

We are proud to be the bank of The Salvation Army International. Find out more about our shared history.