Aldermore Business Savings
Posted By admin On 12/07/22- Aldermore Savings Rates
- Aldermore Fixed Rate Business Savings Account
- Aldermore Business Savings
- Aldermore Business Banking
Overview
- Aldermore offers three business savings accounts to small to medium-sized businesses offering competitive interest rates. They offer a rate checking tool to compare their accounts interest rates. They offer accounts with a minimum deposit of £1,000 to £1 million and corporate savings.
- Business savings accounts may only be opened and operated online by UK-based Private Limited Companies (Ltd). As part of the application, you will need to nominate up to three individuals.
Aldermore's business banking service provides advice, services & support to help your business grow. Find information on invoice finance, asset finance & more. Business Savings Accounts FAQs. Compare business savings and find out more here. Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the.
Aldermore was the first of the new wave of banks to open after the financial crisis of 2007/8. It was the reincarnation of Ruffler, the private bank, which was bought by Anacap, and renamed Aldermore. In March 2019, Aldermore became part of South African financial services firm, FirstRand Group.
Banking Licence
Aldermore have their own banking licence which isn’t shared with any other banks
Registration Numbers
Companies House Number: 947662
Financial Conduct Authority: 204503
Based: Head Office is in Peterborough, but Aldermore has offices in London, Manchester, Wilmslow, Reading and Newcastle
Date Launched: May 2009
FSCS Protected? Yes
Branches: Aldermore does not have any branches
Chief Executive
Philip Monks
Saving Information
No. of Savers
Unknown but estimated at circa 200,000
Amount of Deposits
£10.1bn (as at 31st December 2019)
Loan Book
£12bn (as at 31st December 2019)
Account Opening and Management
How Do I Open a Savings Account
Internet
How Do I Manage a Savings Account
Internet, Post, Telephone
Lending Activities
Aldermore has six principle areas of lending:
- Residential mortgages for and buy to let mortgages on residential properties
- Business mortgages - commercial mortgages for owner-occupied and buy to let investors
- Property Development Finance
- Asset Finance
- Invoice Finance
- Aldermore also owns Moto Novo Finance which provides car finance
Feefo Reviews
Feefo reviews are available on Aldermore’s website alongside each individual product
Trustpilot Reviews
Aldermore is the longest established of the new wave of banks who have entered the market since the financial crisis. It now looks after over £10bn of deposits and offers the widest range of savings accounts to personal savers.
While it is rarely the best buy, Aldermore consistently offers competitively priced savings which are above those available from the big five banks.
Contact Details
Aldermore 1st floor,
Block B Western House
Lynch Wood
Peterborough
PE2 6FZ
Telephone:
0345 604 2678 (Personal savings)
0345 1733 321 (Business savings)
Website: https://www.aldermore.co.uk/
Email: service@aldermoresavings.co.uk (Personal savings)
businesssavings@aldermore.co.uk (Business savings)
Monday – Friday 9am – 5pm, Saturday 10am – 1pm (Personal savings)
Monday – Friday 8am – 6pm (Business savings)
| Type | Public |
|---|---|
| LSE: ALD FTSE 250 Component | |
| Industry | Finance |
| Founded | 2009 |
| Headquarters | Reading, Berkshire |
Key people | Pat Butler (Chairman) Phillip Monks (CEO) |
| Products | Financial services |
| Revenue | £358.2 million (2016)[1] |
| £144.2 million (2016)[1] | |
| £93.5 million (2016)[1] | |
| Website | www.aldermore.co.uk |
Aldermore Bank is a retail bank which provides financial services to small and medium-sized businesses. It was founded in 2009 and listed on the London Stock Exchange in March 2015. It was a constituent of the FTSE 250 Index until it was acquired by South African banking conglomerate First Rand in March 2018.
History[edit]
Aldermore Savings Rates
Aldermore was established with backing from private equity company, AnaCap Financial Partners LLP, in early 2009.[2]
The acquisition of Ruffler Bank in May 2009 provided Aldermore with its banking licence and an asset finance business which was combined with the commercial mortgage business of Base Commercial Mortgages, a small mothballed operation.[3]
AnaCap purchased Cattles Invoice Finance, a factoring business, from Cattles PLC in 2009, and in 2010 the division became part of Aldermore.[4]
It raised £62 million of further investment from a consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management, and the Ohio Public Employees Retirement System in August 2011[5] and it received an additional capital investment from Centerbridge Partners when it issued a £36 million subordinated bond in May 2012.[6]
Aldermore Fixed Rate Business Savings Account
In 2012 the bank reached its first full year of profits in its third year of operations.[7]
Aldermore was recognised as a challenger bank by the media,[8] and launched a successful initial public offering in March 2015,[2] with an opening market capitalisation of approximately £651 million.[9]
In October 2017 it was announced that Aldermore had agreed to be acquired by South African banking conglomerate First Rand. The deal valued Aldermore at £1.1bn.[10]
Operations[edit]
Aldermore provides financial services to small and medium-sized businesses.[11] Its services include retail and business savings and asset and invoice finance, as well as commercial and residential mortgages.[12]
The bank offers lending across the following areas: asset finance, invoice finance, SME commercial mortgages, buy-to-let mortgages and residential mortgages. Its lending activity is largely funded by the deposits it receives from business and personal savers.[13]
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its regional offices. It was also the first bank to offer this service and publishes this customer feedback unedited on its website.[14]
Affiliations[edit]
Aldermore is the sponsor of the National Association of Commercial Finance Brokers (NACFB),[15] and a member of the Council of Mortgage Lenders.[16] Aldermore is a member of the following bodies: the British Bankers' Association,[17] the Finance and Leasing Association,[18] the Asset Based Finance Association,[19] the Council of Mortgage Lenders[20] and the Intermediary Mortgage Lenders Association.[21]
References[edit]
- ^ abc'Annual Results 2016'(PDF). Aldermore. Retrieved 14 March 2017.
- ^ ab'Aldermore: How the bank formed in the depths of the crisis found success'. The Telegraph. 15 March 2015. Retrieved 13 June 2015.
- ^Cave, Andrew (30 July 2011). 'Aldermore - a bank that loves to lend'. The Daily Telegraph. Retrieved 29 April 2015.
- ^'Cattles Invoice Finance rebranded for the second time in a year'. Business Zone. 6 September 2010. Archived from the original on 26 February 2017. Retrieved 25 February 2017.
- ^'Goldman Sachs takes Aldermore stake'. The Telegraph. 24 September 2011. Retrieved 13 June 2015.
- ^'Boost for new bank Aldermore as it clinches £36m fundraising'. City AM. 14 May 2012. Retrieved 13 June 2015.
- ^Croucher, Shane (31 July 2013). 'Challenger Bank Aldermore Boosts SME and Consumer Lending by 60%'. International Business Times. Retrieved 15 October 2015.
- ^Grice, Andrew (12 September 2012). 'Cable and Osborne on a Collision Course Over Small-Business Bank'. London: The Independent (UK). Retrieved 21 January 2013.
- ^Partington, Richard (10 March 2015). 'Aldermore Raises $340 Million in London Initial Public Offering'. Bloomberg L.P. Retrieved 1 May 2015.
- ^'Aldermore agrees takeover by South Africa's FirstRand - BBC News'. Bbc.co.uk. 2017-11-06. Retrieved 2018-01-13.
- ^Hurley, James (6 May 2012). 'Aldermore - A Dads Army Bank For SMEs'. London: The Telegraph. Retrieved 21 January 2013.
- ^'Our History'. Aldermore Bank PLC. Retrieved 21 January 2013.
- ^Hurley, James (6 May 2012). 'Aldermore - A Dads Army Bank For SMEs'. The Telegraph. Retrieved 3 February 2017.
- ^'Intro – Aldermore Bank Reviews'. Advisory HQ. 9 May 2016. Retrieved 3 February 2017.
- ^'NACFB - Working with Lenders'. NACFB. Archived from the original on 24 October 2012. Retrieved 16 October 2012.
- ^'Directory of Members and Associates'. Council of Mortgage Lenders. Archived from the original on 24 October 2012. Retrieved 16 October 2012.
- ^BBA Members. Retrieved 14 February 2017
- ^DirectoryArchived 2017-02-15 at the Wayback Machine. Retrieved 14 February 2017.
- ^List of MembersArchived 2017-02-15 at the Wayback Machine. Retrieved 14 February 2017.
- ^Directory of membersArchived 2017-02-15 at the Wayback Machine. Retrieved 14 February 2017.
- ^Members list. Retrieved 14 February 2017.