Choosing an ethical business savings account is one of the simplest ways to align your company’s money with its values. Instead of sitting in a bank that funds environmentally or socially harmful industries, your deposits can help support greener, fairer business practices – while still earning interest for your company.
Why switch to an ethical business savings account?
The UK’s “Big Five” banks – Barclays, Lloyds Banking Group, Santander, HSBC and NatWest – remain among the biggest funders of fossil fuels, tobacco and weapons production. By leaving money with them, many companies unintentionally support industries that work against their own sustainability goals.
By contrast, ethical banks and building societies:
- Apply greener investment and lending policies
- Pay their fair share of tax
- Offer greater transparency on where deposits are used
And with more providers offering competitive rates, there’s now less reason to compromise.
Switching is simple
If you run a small or medium-sized business (SME) with fewer than 50 employees and turnover up to £6.5 million, you can use the Current Account Switch Service It moves your account automatically, so switching to an ethical provider doesn’t have to be a hassle.
Top ethical business savings accounts
Here are our nine best options for ethical business savings accounts in the UK – offering sustainable banking for companies that want their money to make a positive impact.
Unity Trust Bank
If you’re a socially-minded business, the chances are you’ll love Unity Trust Bank.
Unity, a Good With Money ‘Good Egg’ firm, is focused on social good. It uses customer deposits to fund lending that supports communities and economic change. It is also the leading bank for trade unions.
Account options:
- Instant Access Account – 2.10% AER (variable).
- Fixed Term Deposits – from 2.86% AER (30 days) up to 3.80% AER (12 months). Minimum deposit £50,000.
What we like: Unity is one of the few banks dedicated entirely to social impact lending, with a clear focus on funding projects that strengthen local communities.
Triodos Bank
Triodos, also Good With Money ‘Good Egg’ firm, is one of the most transparent ethical banks. It publishes every organisation it lends to, so you know how your deposits are used.
Account options:
- Business & Charity Deposit Accounts – 1.15% gross/AER (instant access, up to £5,000), rising to 2.60% gross / 2.63% AER (90-day notice, balances over £250,000). Minimum new customer deposit £50,000.
- Fixed Term Deposits – 3.40% (six months) or 3.60% (12 months) gross/AER.
What we like: Triodos sets the gold standard for transparency. It publishes its full loan book so customers can see exactly how their money is being used.
Top 10 ethical business current accounts
Shoal
Shoal is a new app created by B Corp Algbra that combines FSCS-protected savings with measurable sustainability impact. Deposits are held with ClearBank and Standard Chartered, and every pound saved is linked to Standard Chartered’s sustainable finance portfolio – supporting projects such as renewable energy, clean water, healthcare, and green transport.
Account options:
- Fixed-term Savings Pots – three, six or 12 months, with competitive guaranteed rates (currently 4.15 % depending on term)
- Open an account with as little as £1.
- Available to individuals, charities and businesses.
What we like: Shoal makes sustainable savings accessible to everyone. Businesses and charities can use Shoal to align their reserves with sustainability goals and even receive clear, audited data on the positive impact of their money, such as CO₂ avoided or clean water generated.
Charity Bank
Charity Bank invests customers’ money into UK charities and social enterprises, funding affordable housing, renewable energy, and community projects.
Account options:
- Fixed Rate Account – 3.61% AER (1-year, £10,000-£500,000).
- Easy Access Account – 2.91% gross / 2.94% AER.
- Notice Accounts – 40 to 100 days; rates from 2.91% to 3.13% AER.
- CITR Base Rate Tracker Account – available to organisations liable for UK corporation tax.
What we like: Every pound deposited goes directly to work in the UK charity and social enterprise sector, giving savers a tangible connection to social good.
Reliance Bank
Part of The Salvation Army, Reliance Bank lends primarily to organisations with a positive social impact in the UK.
Account options:
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Fixed Term Business Savings Accounts – six months to two years. Rates from 3.55% to 3.90% AER. Interest is calculated daily and paid at maturity.
What we like: With its Salvation Army heritage, Reliance Bank has a long tradition of putting faith-based values into practice by funding housing, community and social care projects.
Allica Bank
Allica specialises in serving established SMEs (5–250 employees). It excludes clients involved in harmful industries such as extractives or animal testing.
Account options:
- Business Rewards Account (Savings Pot) – up to 4.08% AER (variable).
- Base rate: 3.08% AER
- +0.5% monthly boost if you make 15 transfers
- +0.5% six-month boost for successful CASS switch
What we like: Allica stands out for combining competitive interest rates with clear exclusions on harmful industries, giving SMEs a more values-driven savings option.
The Co-operative Bank
The Co-op Bank screens out organisations involved in human rights abuses, environmental harm, payday lending, irresponsible gambling and more. In 2023, it was bought by Coventry Building Society – the UK’s first B Corp building society.
Account options:
- 90-Day Notice – 2.12% / 2.13% AER (variable).
- 35-Day Notice – 1.17% AER (variable).
- Instant Access – 1.25% gross / AER (variable).
What we like: The Co-op Bank has one of the strongest ethical policies among mainstream banks and a long track record of excluding harmful industries.
Tide
Tide provides business accounts for freelancers, start-ups and SMEs. Customer deposits are ring-fenced with Clear Bank and not invested in harmful industries.
Account options:
- Instant Access Savings Account – up to 4.00% AER (includes a six-month “boost”).
- Available even if you don’t hold a Tide current account.
What we like: Tide makes it simple for small businesses and freelancers to keep their money away from harmful industries while still earning competitive returns.
Cumberland Building Society
Cumberland serves businesses in Cumbria, South West Scotland, North Lancashire and West Northumberland. As a building society, it does not invest in shares, reducing exposure to unethical sectors.
Account options:
- Business Instant Access – up to 2.70% AER (variable).
- Business eSaver – up to 2.90% AER (variable).
- 30-Day Notice – up to 3.10% AER (variable).
- 1-Year Fixed – 3.80% fixed until October 2026.
- All eligible deposits protected by the FSCS up to £85,000.
What we like: As a regional building society, Cumberland keeps money close to home, supporting local businesses and communities while avoiding riskier global investments.
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