How do I pay in

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How do I pay in

You can make deposits into your Recognise Business Savings Account by electronic transfer from either

  • Your Nominated Business Bank Account which must be a UK Business Bank Account and must be in the same business name as your Recognise Business Savings Account. Your Nominated Business Bank Account must be the account from which you make payments to and from your Recognise Business Savings Account. You can only have one Nominated Business Bank Account allocated to your Recognise Business Savings Account.
  • Another one of your Recognise Business Savings Accounts (where eligible)

It is important that the payment instructions you provide are accurate and that you use the following information when making the transfer from your Nominated Business Bank Account to your Recognise Business Savings Account.

Sort Code 04-06-51
Account Number 00000011
Beneficiary Recognise Bank
Reference For all Deposits, use your 7 Digit Account Number e.g. 1234567
Account Type Business

Your Initial Deposit is the first deposit you make into your account. Depending on your account, we’ll generally ask that you make your Initial Deposit into your account within 30 days of opening it, please check your Product Terms and Conditions for details. If you’ve not made a deposit within this time, we’ll assume you no longer require the account and close it for you. If after this time, you decide you want a Recognise Business Savings Account, we’d welcome a new application from you.

Your Initial Deposit must be the same or higher than the account’s minimum balance for interest to be paid, if it is lower, the deposit will be returned without interest.

You can find your 7 Digit Account Number in your Welcome Pack letter (which we send to you after we’ve opened your account) and by logging into our Secure Online System.

In order to help us make and receive payments to and from your Recognise Savings Account with your bank building society or online account, we need to use a clearing bank. In the UK, a clearing bank is one that can exchange payments between two separate banks or customers. We use ClearBank as our clearing bank to help us make and receive payments to and from your Recognise Savings Account. This means that the ClearBank name may show up when making a payment into your Recognise Savings Account.

Confirmation of Payee is a new way of giving customers (both personal and business) greater assurance that they are sending payments to the intended recipient, helping them to avoid making accidental, misdirected payments to the wrong account holder, as well as providing another layer of protection in the fight against fraud and scams. Further information can be found on the UK Finance website.

Guidance & Information

Literature & Guides

All you need to know about our Business Savings products

Protecting your savings

FSCS protection and keeping your money safe

A reminder of our interest rates

View all of our products and interest rates on one page

Important notices

Changes to help you open our business savings account and additional information of frauds and scams

Frequently asked questions

Commonly asked questions and answers relating to our business savings accounts