Businesses are missing out on millions in interest

This week's Investment Week Articulate page points out how important it is for businesses, in particular small- and medium-sized ones, to have the features and benefits they need on their business bank accounts. If there's a subject you'd like to see explored on this page, please email: [email protected]

Research commissioned earlier this year revealed that businesses with a turnover of at least £1 million a year hold on average around £690,000 in deposit accounts, yet one in four senior executives at these companies do not know what rate of interest they are receiving on this. Alarmingly, this rises to just over one in three (37%) of the larger businesses interviewed ‑ those with an annual turnover of over £20 million ‑ which is even more concerning because their average deposit is around £1.8 million. Furthermore, 28% of businesses said that they were receiving returns that were below th...