Allica Bank enhances referral process for commercial finance brokers

Allica Bank has made it easier for commercial finance brokers to refer clients for its business rewards account, having now paid more than £100 million in instant access savings interest to business customers.

Brokers can now submit business rewards account applications on behalf of their clients directly through Allica's introducer portal, building on the bank's business current account referral scheme launched in June 2025. The scheme will pay brokers on Allica’s panel £400 if they refer a client who maintains a minimum of £50,000 in their account for 28 days, rising to £600 for those keeping over £150,000.

Allica says it wants to highlight the potential value brokers can help their clients unlock by looking beyond the high-street banks for their day-to-day banking and savings.

Its analysis of six major banking providers found that the average instant-access savings rate available on a £75,000 business deposit was just 0.80% AER.

By comparison, Allica offers a standard savings pot rate of 2.83% AER, with eligible customers able to unlock additional interest boosts. The maximum advertised rate, including conditional and time-limited boosts, is currently 4.08% AER.

Nick Baker, chief commercial officer at Allica Bank, said: “Established business owners are increasingly relying on their broker to play a more strategic role, especially when it comes to the broader banking market. We believe brokers should be recognised for this support, in the same way as they would if they’d helped their client secure funding, so we’re pleased to make it even easier for them to do so.

“Since launching our referral scheme last year, brokers have shown the added value they can bring to their clients by helping them get a better return on their savings. In some cases, it can bring tens of thousands of pounds into their client’s business that they would have otherwise missed out on. And that’s the kind of support our brokers want to provide.”