Headquartered in Glasgow, Clydesdale Bank is now part of CYBG plc, along with Yorkshire Bank. Clydesdale Bank has over 60 branches, all in Scotland. Business customers can open current accounts, savings accounts, borrow finance, and access 24/7 online and mobile banking.
Clydesdale Bank Business Banking Services
Current account
There are two Clydesdale Bank business bank accounts available – the Business Current Account and Business Choice Account. The only difference is you’ll earn interest on your balance with the Choice Account. Free day-to-day banking for 25 months is available for switchers, otherwise accounts cost £6.50 a month. There are some extra charges for cash and cheque payments too.
Savings account
Instant access, fixed term, and notice accounts are available through Clydesdale Bank. You can open a notice account with a minimum balance of £500 and access your money with 15-120 days’ notice. With the fixed account, you can pay in a minimum balance of £5,000 for a higher return. Interest rates vary and can fluctuate.
Overdrafts
An unsecured overdraft of up to £25,000 is available for business customers, charged at 9.7% representative EAR. There’s a 2.5% establishment fee (minimum of £120). Terms are agreed for up to 12 months.
Business finance and loans
There are 5 business loans available, allowing businesses to borrow £25,000+. Repayment terms vary, and interest rates can be fixed or flexible. A Clydesdale Bank business credit card is also available, with interest rates of representative 22.4% APR (variable). Customers get up to 59 days’ interest free credit on purchases.
Reviews and ratings
Trustpilot reviewers are mainly unhappy with the unreliability of Clydesdale Bank’s online banking and app. Some struggle to make basic updates and changes to their account. There are no live reviews on Reviews.co.uk.
Most Smart Money People reviewers think the service is good overall and the bank has helpful staff.
Clydesdale Bank ranked 9th in a list of the 14 largest business current account providers for overall service quality in an independent survey.
In the same list of 14 business current account providers, Clydesdale Bank also ranked 11th for online and mobile banking services, 10th for SME overdraft and loan services, 8th for relationship/account management, and 9th for service in branches.
Which? rate Clydesdale Bank 4/5 for transparency of charges and telephone banking. Clydesdale Bank also scored 3/5 for communication, customer service, and complaint handling.
Trustpilot 1.7/5 (based on 39 reviews)
Reviews.co.uk n/a
Smart Money People 3.8/5 (based on 5 reviews)
Which? 67% Which? Customer Score
Pros
- Free banking for 25 months when you set up your account.
- Earn interest on your current account.
- Good choice of loans and finance products.
Cons
- Reviewing customers don’t seem impressed with online and mobile banking.
- Ranked fairly low in independent service quality survey.
- Not many branches.
Website: Clydesdale Bank Business Banking