New digital bank Bond to launch soon in the UK

Bond, a digital bank for businesses offering high yield business accounts, savings accounts and embedded treasury services, will be launching soon in the UK.

Founded this year and headquartered in London, Bond claims on its website that it will offer 2.52% yield on its business accounts with no monthly fees.

The new bank will also provide expense management tools, business insights and physical and virtual Visa debit cards for corporate teams. It claims its embedded treasury feature will “optimise the movement of money to turn idle cash into revenue”.

“Bond Treasury optimises the movement of money throughout your financial stack by enabling you to determine defined cash management rules for your business to automate and optimise cash management internally and externally,” the firm says.

Businesses can also invest in funds, government securities or ESG funds, based on their financial strategy. Funds will be managed by UBS, BlackRock and Goldman Sachs.

Along with £0 fees, it also claims it will have no minimum balance requirements and will provide “unlimited” cashback.

Bond is gearing up to launch sometime in Q1 2023.