At a time when many banks are pulling back on their support for SMEs, TSB is investing in ways to help businesses right across Britain to continue to expand.

The key product features of the account are:

25 months free day-to-day banking offer (See Editors’ notes).

A simple and transparent tariff - after 25 months, if the business maintains an ongoing average balance of £10,000, there is no monthly fee.

Businesses are eligible for a free Square Reader so that they can accept Chip and Pin and contactless payments ‘on the go’. The first £1,000 of sales are ‘fee free’.

Businesses are eligible for specialist support from both Enterprise Nation and Funding Options to help boost their digital capability through advice and support to help grow their business.

Access to one of the best instant savings accounts in the market currently paying 1% Gross/AER.

This new benefit forms part of TSB’s commitment to small business banking, with a multi-million-pound investment programme under way to build new banking services for small businesses. Underpinned by a branch network right across Britain, TSB has the potential to help local economies everywhere to thrive and prosper.

Catherine Douglas, TSB’s Director for Business Banking, says:

“Small businesses are the driving force behind the ongoing economic success of the country. We are delighted to be able to extend our free banking offer to 25 months as it will help more businesses to run and grow.”