Business banking

Our Business Current Account is suitable for businesses of all shapes and sizes, whether you’re established or just starting out. What's more, the first year is free!*
For all enquiries please contact us on
(01228) 403 141

Why choose The Cumberland?

Flexible banking Image
Flexible banking
You can bank with us online, with your mobile phone or at one of our 34 local branches.
Switch in 7 days Image
Switch in 7 days
We'll take care of switching your Current Account from your existing bank or building society.
12 months free* Image
12 months free*
We offer 12 months free banking to businesses with a turnover up to £250,000 per year.

Account Options

We have two account options depending on your type of business and daily transactions. Use our banking calculator to work out which account option would be best for your business and how much money you could save by switching your account to us:

Business Current Account Reviews

Bruce and Luke's, Coffee and Donuts

Our accounts are run on Xero which is why we bank with The Cumberland. We also benefit from having a local branch to cash up, and have a great relationship with their Business team.

Bruce and Luke's, Coffee and Donuts

Managing your account

Internet Banking Internet Banking
Take control of your business finances online, make payments, view balances, transactions and more.
Mobile Banking app Mobile Banking
With our Mobile Banking app you can manage your accounts quickly and easily, wherever you are.
Xero Accounting Software More about Xero
We support the UK’s leading online accounting software, Xero, so you can run your business with ease.

More Information

  • Full account details
    Minimum age
    18
    Must be main business current account
    Yes
    Current Account Switch Service
    Yes
    Standing Orders & Direct Debits
    Yes1
    Contactless Visa debit card
    Yes. You can use your debit card to make a payment in pounds. This can be in a shop, online or over the phone.
    Verified by Visa and One Time Passcode protection
    Yes
    Cash Withdrawal in pounds in the UK at Link cash machines
    £300 per day2
    Mini statements from Cumberland cash machines
    Yes
    Cash withdrawal at Cumberland branches
    £500 per day3
    Cash withdrawal and debit card payment in foreign currency outside the UK
    Free4
    Cheque book
    Free (on request)
    Statements
    Free
    Use of all Cumberland branches
    Yes
    Online banking
    Yes
    Text alerts
    Yes
    Pay2Mobile (Mobile Payments)
    Yes (receive only)
    Customer Service Helpline
    Yes
    Overdraft facility available
    Yes, an arranged overdraft is available on request, subject to status
    Arranged overdraft interest rate
    3.04% per quarter (12.73% p.a. variable EAR)5
    Unarranged overdraft interest rate
    5.659% per quarter (24.63% p.a. variable EAR)5

    Interest rates correct at 11/08/14. Charges are correct as at 01/10/15

    (1) A standing order is a way we can make regular transfers, on your instruction, of a fixed amount of money from your account to another account. A Direct Debit is where you permit someone else (recipient) to instruct us to transfer money from your account to that recipient. We then transfer money to the recipient on a date or dates agreed by you and the recipient. The amount may vary.

    (2) You can take cash out of your account in pounds at a Link and Visa cash machine, bank or Post Office in the UK.

    (3) You can take cash out of your account in pounds at any Cumberland cash machine.

    (4) Unlike most banks, we won't charge you for making Cumberland Visa debit card payments in a foreign currency, or for cash withdrawal in foreign currency outside the UK (with most Cumberland current accounts). The provider of a cash machine or retailer may apply a charge.

    (5) EAR – Effective Annual Rate.

  • Who can apply

    We welcome new applications from new and existing customers who live within our branch operating area, however, we do not accept new accounts from new customers who live outside our branch operating area.

    Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area. Contact us for more information.

    Our operating area is:

    • Cumbria (all CA and LA postcodes)
    • South-West Scotland (all DG postcodes and TD9)
    • West Northumberland (NE45-49)
    • North Lancashire (all PR, FY, LA AND BB1-2 and BB5-7)
  • Fee Information (Charges)

    The Fee Information Documents provide details of the fees for using the main services linked to our business current accounts (known as payment accounts).

  • Current Account Switch Guarantee
    CASS_white.png

    We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days.

    As your new current-account provider we offer the following guarantee:

    • The service is free to use and you can choose and agree your switch date with us.
    • We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
    • If you have money in your old account, we will transfer it to your new account on your switch date.
    • We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
    • If there are any issues in making the switch, we will contact you before your switch date.
    • If your new bank or building society agrees, bank accounts that include an overdraft can switch using the Current Account Switch Service. And if you’d like to have an overdraft with your new bank account, speak to your new bank or building society before starting your switch. Your new bank or building society will be able to advise if you’re eligible for an overdraft, dependent on their lending criteria and your credit status.
    • If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

    You can read more about the Current Account Switch Service at www.currentaccountswitch.co.uk.

    Crystal Mark

  • Free banking for schools

    Available to cheque book and academy status schools within our operating area. All standard business transactions are free of charge.

    Contact us for more information: Tel 01228 403 141 or book an appointment online.

  • eSavings account

    Our eSavings account is an exclusive online savings account available to business Internet Banking customers. The account offers instant access via internet and mobile banking and pays a higher rate of interest than our Instant Savings account.

    Full account details.

Documents

FSCS Logo (Small) FSCS Logo (Large)

Your eligible deposits with Cumberland Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here for further information or visit www.fscs.org.uk.