Allica Bank

4th Floor, 164 Bishopsgate, EC2M 4LX, London, GB
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4.50
Based on 742 Reviews

5

85.71%

4

4.72%

3

1.75%

2

1.75%

1

6.06%
About Allica Bank

Allica is a bank built especially for established businesses with between 5 and 250 employees. A third of the UK’s economy depends on these businesses, yet they’re overlooked by the big banks with a service that is increasingly impersonal, inconvenient, and poor value. We're here to change that. Allica Bank is on a mission to give established businesses the banking they deserve. That means: a business current account that rewards business owners for using it. a relationship manager whose name and number they actually know. powerful tools and technology that make life easier, not harder. It’s proving to be a winning combination. Allica was named as Britain's fastest-growing private company in 2024’s The Sunday Times 100, and we’re also the fastest-growing fintech in the 26-year history of Deloitte’s UK Technology Fast 50 awards. Since we opened our doors in 2020, Allica has lent over £3 billion to established UK businesses and raised £4 billion in deposits. From our offices in Milton Keynes, London and Manchester, we’re offering business banking how it used to be, just better.

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Dan
United Kingdom | 28 November 2024

I had a 12 month fixed rate savings account with Allica Bank that paid a good interest rate. The account setup was straight forward but a year later the problems began - I was not made aware of the account maturity and discovered by chance 11 weeks later that the account had matured. The Key Product Information document states "We will get in touch around 30 days before your fixed term ends to let you know what options are available to you". I checked my (Microsoft) email account and the only emails were from 2023 when the account was first created - there was no email about the maturity (I checked all folders including Spam). I had lost nearly £1k as a result and when I contacted Allica Bank they said the email had been sent. I later sent a secure message asking why I had not been informed of the maturity and didn't receive a reply so I then raised a complaint via the website. I received a phone call confirming receipt of the complaint and was told someone would be in touch from the complaints team and they would look into why the email did not arrive. After a couple of weeks I received a "Final Response" letter via email telling me that the maturity email had been sent and there was nothing to indicate any problems! On hindsight I should have put a reminder in my calendar but I have never had to do that with any account before as I've always received a notification either by post or email. I have now moved my savings elsewhere and will no be using Allica Bank again.

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Chux Okafor
United Kingdom | 27 November 2024

The most unprofessional and incompetent banking onboarding service I have ever experienced. Their representative was both rude and belligerent in her questioning claiming our current service provider is not a bank whilst demanding we provide things Allica was informed from the very beginning were either not available or non existent. Dragging what should be a relatively simple process out for over a month. They claim to be "different" from existing providers but in reality are more of the same if not worse in many respects. They've even attempted to remove this review claiming their employees name was used. So it's been removed, only here. My view, Avoid.

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Matt Kelly
United Kingdom | 27 November 2024

Solid business bank with real human support at the end of the phone - plus good savings rates as well! Would recommend

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Rebecca Webb
United Kingdom | 27 November 2024

So far so good. I had a bit of trouble initially signing up but customer service has been really efficient and helpful.

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Witchy Woo
United Kingdom | 25 November 2024

This is a big shout out to Agata Rinkeviciute, Partnerships Executive (North) I tried to open a new business account with Santander, with whom I have banked for over 20 years. I had to have one interview over the phone, then send a load of documentation including proof of trading address which I did not have as I traded from the premises of my other business and this new business was an offshoot of that one. I ended up having to take out business insurance with the bank which then didn't work because the insurance company used different descriptions than my SIC codes. Needless to say, after 4 weeks of back and forth and still no second meeting to discuss opening my new account I gave up and spoke to my relationship manager at Allica. My new business account was opened in under a week. There was no stress, no stupid questions. I dealt with a proper real life human being. This is how business should be done.

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paul hill
United Kingdom | 24 November 2024

Fed up with paying high charges and getting poor service changed to Allica bank so far so good and very happy with the service particularly Hope she has been brilliant in answering all my questions

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Neil Ash
United Kingdom | 22 November 2024

I've just opened a new business savings account and so far the customer service has been fantastic. Big thank you to Will Ashton, he's been very helpful and made it a smooth and stress free experience...and the interest rate is very good!

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Daniel James
United Kingdom | 22 November 2024

Very easy to get started and great rate of interest with the instant access savings pot. Nicole was very helpful onboarding us and answered any questions promptly. We look forward to banking with Allica.

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Julian Davies
United Kingdom | 22 November 2024

I have just switched my company's account to Allica because I was frustrated and dissatisfied at the level of service I was receiving from HSBC. As a small business, we need a straightforward banking service, with access to an account manager to help with the routine issues that arise occasionally. Allica was recommended to us by our long-term accountants, and I'm very pleased to say that our experience with Allica has been 100% positive. The standout points are personal service with a regional partnerships manager who you actually get to meet, a human account manager who is accessible, efficient account set up, immediate and proactive response to our requests, a clear and user-friendly account dashboard, and of course a very competitive savings interest rate. Based on our experience so far, I highly recommend Allica's service all round, with particular thanks to Steve Grigg - Allica's Partnerships Manager (North).

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Stephen
United Kingdom | 22 November 2024

Having a customer success representative assigned to you to help guide and support you through the sometimes laborious process of opening a bank account nowadays is a very good idea and to be honest Nicole ensured that I didn't just give up half way through. She was very helpful, polite and not at all pushy. Really great service.

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Seb
United Kingdom | 20 November 2024

Getting a new account with Allica was incredibly easy. From the first conversation with Chris (relationship manager) to having it all up took just a few days. Not a lot of admin to go through, not many forms. Just a few details and in less than a week I was set. The app is very intuitive, the website too. Doesn't take long to be sorted and start managing money. I'd recommend Allica Bank for the ease of process alone. Then, of course, the rates are among the best in the market right now...

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Danielle Robinson
United Kingdom | 20 November 2024

Excellent service, Steve was our contact and he was amazing! With us every step of the way! such a personal and attentive experience. We had every question answered and feel we are in very safe hands!

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Nick Miles
United Kingdom | 19 November 2024

Setting the Allica savings account up required the intervention of Allica's Customer Services team and I groaned when I thought I'd be holding for ages and then not make any progress. Not at all. Very quickly resolved and I was able to make my deposit. My only disappointment, (and it is a disappointment), is that interest doesn't accrue monthly, or maybe it does, but it isn't shown until the anniversary of the account being opened. So when you open the app, all you see is what you have paid in. Maybe this is good for a business savings account?

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Alan Purcell
United Kingdom | 16 November 2024

I recently opened an account with Alicia, but couldn't complete the initial login with the one time password. My Allica contact, Hope Laws, noticed I hadn't started using the account and offered to call me to sort out any problems. She suggested using the Allica App with a new one time password, which worked fine. She then guided me through the rest of the set up process to make sure everything was as it should be. I am very pleased with the service provided.

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Unity Accountancy
United Kingdom | 15 November 2024

Even with a charity with 10 trustees (that are hard to get hold of) we got the account set up nice and easy. Louisa was a pleasure to work with throughout the process and everybody knew what was expected.

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Nigel Morgan
United Kingdom | 12 November 2024

Excellent service problem solved

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Edward
United Kingdom | 09 November 2024

Account closed for no real reason. Been given so called 60 days notice but the account was instantly turned off. Direct Debits fail and incoming transfers bounce. This is not a 60 days notice, this is a pretend notice. Financial Ombudsman will hear about it.

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Smee
United Kingdom | 08 November 2024

I recently opened this account primarily for the high biz savings rate with the potential to transfer biz account altogether. Set up was straight forward and opened within a week. Had excellent comms from Lauren (Customer Success Executive) throughout

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Steve
United Kingdom | 08 November 2024

Recently opened an account with Allica Bank, it was a straightforward process and Maria was extremely helpful throughout the entire process. Would recommend...

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Mike
United Kingdom | 07 November 2024

The customer service I have received has been excellent. Hope has been extremely helpful and easy to contact. She suggested the streamlining of a process and followed it through from start to finish. I would highly recommend Allica Bank.

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