When you apply to open an Aldermore account you must give us details of a current account in your business’s name. We call this your linked nominated account.
It needs to be held with a UK bank or building society that’s fully licensed and authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This is a safety measure and means you can only transfer money into your Aldermore account from your linked nominated account or from an existing Aldermore Business Savings Account that allows transfers out.
There are certain types of bank account that we can’t accept as your linked nominated account, as they aren’t fully licensed and regulated. These include accounts held with e-money providers.
If you’re not sure about your bank’s status please give us call to find out.