Business loan customers learn of new corporate banking account

Mon, 16 Apr 2007

Business loan customers have been put on alert after a financial services provider launched a new business banking proposition.

Among other financing features, Alliance & Leicester's free business current account offers free cash machine withdrawals, standing orders, direct debits and electronic payments.

Moreover, unlimited cheque payments can be made without charge and up to £4,000 can be deposited in cash with the banking account, which may particularly appeal to business loan customers operating within the retail sector.

Commenting on the new banking option, Lee Tillcock, editor of financing website Business Moneyfacts.co.uk, urged company accountants to compare the market for the best deals.

"This new account should prove to be very popular and clearly demonstrates the bank's commitment to the small business market," he added.

Meanwhile, Steve Jennings, director of business banking at the financial services provider, argued that the new account "highlights the great value that is available to small business owners".

Last month, a corporate confidence index from banking institution Lloyds TSB discovered that 69 per cent of companies believed business would increase over the next 12 months, which could potentially lead to increased demand for business loans.

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