Read Our Cashplus Business Account Review
This Cashplus Business Account review will hopefully be of benefit if you are seeking something similar to a business current account that is offered by a UK high street bank. We discuss a number of things such as how you can apply to open the Cashplus Business Current Account as well as some of the features and benefits.
Who can apply to open a Cashplus Business Current Account?
You will be pleased to note from our Cashplus Business Account review that small businesses from all sectors that have been set up as either limited companies, partnerships or sole traders can apply to open an account online in 4 minutes with an instant decision.
Once your company’s name and address has been verified approval is guaranteed in seconds. No credit check is required and you are provided with your account number and sort code immediately.
Those with a record of bad credit may apply.
What does the Cashplus Business Account provide?
This particular section is possibly one of the most informative of our Cashplus Business Account review as it covers some of the features and benefits.
You will be provided with your account number and sort code straight away enabling you to be able to start receiving online payments immediately.
Within 3-5 business days of approval you will receive a contactless business Mastercard in the name of your business. This can be used to withdraw cash and purchase the likes of stock and materials.
Our Cashplus Business Account review found that either via the mobile app or online you will be able to make payments to suppliers, pay bills and your employees salaries 24/7. You will be able to check the balance of your Cashplus Business Current Account and download statements.
You can pay cash into your account at any branch of the Post office with the funds being available straight away. You can also withdraw cash from Post Offices.
Our review of the Cashplus Business Account found that you can set up direct debits to pay regular bills.
A Business Cash Advance of up to £15,000 may be available after a period of time.It is an alternative to a business loan and is provided by Liberis Finance. Repayments are linked to the monetary value of your customer card transactions. A Business Cash Advance may be available to your business if the monetary value of your customer card transactions amount to £5,000 per month or more and you have been in receipt of such payments for more than 4 months.
Should you become eligible, you can apply for a business iDraft of up to £2,000 to aid cash flow.
A Mastercard Euro or US Dollar Travel Card is available to be used abroad. There are no foreign exchange and purchase transaction fees.It enables you to pay for things in the local currency.You can manage the card 24/7 via the mobile app. Online servicing can be used to transfer monies onto the card and any Euros or US Dollars that are not used can be transferred back into your sterling Cashplus Business Current Account.
Our Cashplus Business Account review revealed that you can speak to a member of the Cashplus team based in the UK.
As many as 20 business expense cards can be issued to some of your employees thus helping you to manage your business expenditure.You can manage these online moving money and tracking how much is being spent and transactions can even be restricted and cards blocked.
Apparently, any monies you place in your Cashplus Business Account are safe as the funds are kept in a regulated bank account on your behalf as per the Electronic Money Regulations.
24 hour fraud monitoring is provided giving you peace of mind.
As you can see from this section of our Cashplus Business Account review there are a number of excellent features and benefits. The Cashplus Business Account has had a number of reviews undertaken of it but we trust that you have found this one of interest.
As part of this review we felt you would like to know some of the costs of the Cashplus Business Account.
There is an account fee of £69 per annum.
UK purchases using the Mastercard are free.
Electronic payments and transfers including standing orders are free for the first 3 each month and then cost £0.99 each.
The Cashplus Business Account enables direct debits to be set up but our review found that they are free.
Additional cards are £5.95 each.
ATM withdrawals in the UK cost £2.00 each
ATM withdrawals overseas cost £3.00 each (some financial institutions may charge additional fees)
If you are looking for a personal current account why not read our Cashplus Review here.
Cashplus Business Account Review Conclusion
We trust that you found our Cashplus Business Account review to be of interest. As you can see, the account provides many of the features and benefits of traditional high street banks such as being able to pay regular bills by direct debit, pay in cash and withdraw cash using a Mastercard. More information can be found on the company’s website.