This bank pays cashback with no cap — here’s how much you could earn
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.
Most cashback deals quietly cap your rewards. This one doesn’t - and the more you spend, the more it pays back, month after month
Earning cashback from your spending can be a powerful tool for any banking customer, and there are a variety of deals out there to wade through.
Cashback of up to 1% is within reach from a few banks, but it's often capped, and there are rarely incentives to push spending beyond that cap and earn even more.
But Allica, an increasingly popular digital bank that's rewriting the rules for its customers, does just that.
Straight off the bat, you could earn 1% cashback with no upper limit on the first £10,000 you spend in a month. Spend more, and you'll qualify for an even higher rate; it rises to 1.5%.
To put this into context, a business that spends £12,000 per month would see a £100 return on its first £10,000 of outgoings, but then the next £2,000 would earn £30. That's a total of £130, and that's pretty much a market-leading incentive.
Spend £18,000 per month and you'd get £220 in cashback, and very high spend customers, such as businesses with high turnovers and small margins, could spend £50,000 in a month and earn a very healthy £700 in cashback.
Allica's Business Rewards Account also offers very competitive interest, with the current rate sitting around 3.8% AER, and there are no monthly fees, free Faster Payments and BACS, and a dedicated relationship manager.
It's these perks that set modern digital banks apart, and it's these perks that are making Allica Bank so popular with SMEs.
To find out more about the cashback offers, and the types of accounts on offer, click here.
Allica Bank is changing how UK businesses make their money work harder. Its Business Rewards Account offers high interest on idle cash and up to 1.5% cashback on everyday spending - without the need for risky investments or complex setups. With a fully digital platform, seamless integration with Sage or Xero, and dedicated relationship managers, it’s a smarter way to manage your funds and boost your bottom line.
If you’ve ever broken down and had no idea how to explain where you are, the AA app quietly fixes that. It can share your exact GPS location with a patrol so they know where to head without a long phone call. The rest of the app is straightforward, with traffic updates 🚦, fuel and charger info ⛽, and service reminders 🔧. Membership starts from £5.49 a month, though the exact price varies depending on your details.