A business savings account offers a higher interest rate compared to traditional checking accounts, but usually comes at reduced functionality. Therefore, we compare the best business savings accounts based on account management fees, access to funds and further benefits such as foreign currencies, access to company cards and international transaction costs.
We take a comprehensive look at 5 providers and one alternative for international businesses.
- amnis
- Axos Bank
- Barclays
- Oxbury
- Live Oak Bank
- First Internet Bank
What is a savings account?
A business savings account is a bank account designed to save funds and earn interest. Unlike a checking account, which is used for daily transactions, a savings account helps businesses set aside idle capital for future needs, emergencies, or specific goals.
These accounts typically offer higher interest rates than business checking accounts, even though the interest earned does usually not outweigh inflation. Further, business savings accounts usually come with more restrictions, such as limited access to funds or transactions.
Top 6 best business savings accounts
In our comparison of the best business savings accounts, we are looking for a complete service package without the usual restrictions. Qualifying factors include account fees, minimum/maximum deposit, currencies offered, interest rates, access to ATM cards as well as other functionalities.
| amnis | Axos Bank | Barclays | Oxbury | Live Oak Bank | First Internet Bank |
| Account type | Multi-currency business account | Business savings account | Business savings account | Business savings account | Business savings account | Business savings account |
| Account fees | Starting from €0 | No maintenance fees | N/A | N/A | Dormant account fees may apply | Monthly maintenance fee: $2 |
| Currencies offered | 20+ | 1 | 1 | 1 | 1 | 1 |
| Interest on foreign currrencies | Balance cashback on multi-currency accounts | No | No | No | No | No |
| Gross interest rate | Monthly-adjusted annualised cashback rate on safeguarded accounts | N/A | GBP: 1.35%-1.80% | GBP: 2.73% (Business Easy Access Account) | N/A | 0.90% |
| AER | N/A | 3.80% | 1.35%-1.81% | 2.76% | 3.5% | 0.91% |
| Minimum deposit to receive interest | No | No | £1+ at 1.36% AER
£10 million+ at 1.80% AER | £1,000 | No | $100 |
| Maximum deposit | No | No | No | £500,000 | N/A | N/A |
| Withdrawals | Yes, with instant multi-currency debit card | N/A | Yes, instant access to funds | Yes | Yes | Yes (6 monthly transactions allowed) |
| Further information | - Access to local payment schemes (FPS, SEPA etc.)
- Multi-currency debit cards without FX -or processing fees
- Safeguarded funds | - Free incoming wires
- Limited-time bonus up to $375
- FDIC insurance of up to $250k | Interest accrued daily, and paid quarterly | Eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme | FDIC insurance of up to $250,000 | ATM card available to sole proprietors only |
amnis
amnis accounts are not savings accounts – and that is by design.
amnis multi-currency accounts earn balance cashback on eligible funds, with no minimum or maximum balance and your money is safeguarded by law.
Client funds are kept separate from amnis’s own assets in segregated accounts and secure, liquid low-risk assets. This means they remain legally separate from amnis and, in the unlikely event of insolvency, do not form part of the insolvency estate.
amnis is a payment institution authorised and supervised by the FMA Liechtenstein (EEA services provided by AMNIS Europe AG) and offers a multi-currency business account to receive, hold and pay in 20+ currencies, with access to local payment schemes (SEPA, FPS and more), multi-currency debit cards and cash-management automation.
- Access to local payment schemes (FPS, SEPA etc.)
- Access to multi-currency debit cards
- Safeguarded funds
Axos Bank
Axos Bank is a digitally focused bank based in the United States, known for offering a broad range of financial services tailored to individuals, small businesses, and institutional clients.
The business savings account offers a competitive interest rate of up to 3.80% AER. There is typically no minimum deposit requirement to open an account, and no monthly maintenance fees, which makes it attractive for smaller businesses and startups.
Axos Bank’s business savings options are particularly well-suited to digitally savvy entrepreneurs and companies looking for flexible, online banking with attractive interest returns on lower balances.
- Fully digital banking for modern businesses
- Up to 3.80% APY on business savings
- FDIC insured up to $250,000 per depositor
Barclays
Barclays is a major global financial services provider with operations in retail, wholesale, and investment banking, as well as wealth management, mortgage lending, and credit cards. The business savings account offers an annual equivalent rate (AER) of up to 1.80%.
The deposit requirements of Barclays are among the most restrictive, as account holders need to invest an amount of at least £10 million to receive the maximum AER. As the UK inflation rate lies at 2.6% in March 2025, there are certainly more profitable ways to invest idle funds.
The business savings account is only available in GBP, while an additional foreign currency account is available. Therefore, customers at Barclays can receive interest on multiple currencies, which, however, is associated with further costs and unnecessary red tape.
- Traditional bank with a wide range of services
- Interest accrued daily, and paid quarterly
- AER of up to 1.8%
Oxbury
Oxbury is a specialised bank in the United Kingdom, which primarily offers services for the agricultural sector (farm loans and farm credits) as well as savings accounts, which are open to individuals, farms and businesses alike.
The Business Easy Access Account offers a competitive AER of 2.76% at a minimum deposit of £1,000, while the maximum amount lies at £500,000. Therefore, the total amount to be earned with interest is limited. Further, deposits are protected up to £85,000 by the Financial Services Compensation Scheme.
The business savings account of Oxbury is especially valuable to farms, which might need additional services as well as UK-based companies, which plan to invest an amount of less than £85,000 to gain a high interest rate while still being insured in case of bankruptcy.
- Specialised banking services for farmers
- 2 different accounts for smaller or larger funds
- Eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme
Live Oak Bank
Live Oak Bank is a digital bank based in the United States that specialises in providing financing solutions to small businesses, which are often underserved by traditional banks. The services range from loans to checking accounts and savings accounts.
The business savings account is available to US-based businesses and offers an AER of 3.5%, which exceeds the current US inflation rate of 2.4%. Other benefits include no maintenance fees and no minimum deposit. Funds are protected with FDIC insurance of up to $250,000.
Live Oak Bank offers services to SMEs, which might be more valuable compared to traditional banks. However, dormant account fees may apply, which means that the account needs to be actively used and monitored in order to not incur unnecessary fees.
- Specialised on SMEs
- FDIC insurance of up to $250,000
- AER of 3.5%
First Internet Bank
The First Internet Bank is an online bank that provides a range of banking and financial services without any physical branch locations to US-based customers and businesses.
The business savings account is a Dollar currency account that offers a relatively low AER of 0.90%, which is still below the current inflation rate. Businesses are allowed to make up to 6 transactions per month.
The First Internet Bank account may be valuable to sole proprietors, as they are the only business structure that can apply for an additional ATM card. Other US-based businesses may look for accounts with higher interest rates and additional services.
- ATM card available for sole proprietors only
- AER of 0.90%
- 6 transactions per month
amnis: The smart account for companies with international clients and suppliers
While traditional or direct banks still offer business savings accounts with relatively few features but a lot of limitations, amnis introduces a full service package for companies that trade internationally.
amnis empowers international businesses to manage their cross-border finances efficiently. With access to local payment schemes, multi-currency debit cards, 0% card fx and processing fees and balance cashback on major currencies,
Explore amnis – a different approach for businesses that hold and move multiple currencies.
