Recognise Bank announces competitive increased interest rate for business savers

Recognise Bank, the fully licenced SME lender and savings provider, announced today that it will be increasing the interest rate on its Business Easy Access Account effective immediately.

The new interest rate, which has increased from 2.25% to 2.65% AER, will apply to all SMEs who have an Easy Access Savings Account with Recognise, a new digital bank who has received upwards of £100million investment since 2018.

SMEs can open a savings account with Recognise Bank in minutes and can manage their funds straight away via the bank’s website, with the competitive rate automatically rising from the 9th May 2023. The new rate is available to both new and existing customers.

Recognise Bank is committed to providing its customers with a range of flexible products which meet their needs, alongside the highest level of service and support. The Business Easy Access Account is quick to open and simple to manage, and all Recognise Bank products are protected by the FSCS up to a total of £85,000. In addition, the bank has scored an ‘excellent’ rating from their customers via Trustpilot in recent months.

‘Staying competitive with our interest rate allows us to best serve the needs of the SME community ‘explains Jean Murphy, CEO of Recognise Bank. ‘Now, our business customers can make the most of their savings’ account with Recognise, whilst being able to quickly and easily access their money.’

Recognise Bank will continue to monitor market conditions and make necessary adjustments.