ComparisonLast checked 8 November 2026

Incard vs Allica Bank: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A UK bank current account for established businesses that keep £50,000 or more with Allica, with card cashback, a linked savings pot and a named relationship manager.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want a euro account, which Allica Bank doesn't list
You want a US dollar account, which Allica Bank doesn't list
You want accounts for UK sole traders, which Allica Bank doesn't list
You're comfortable with safeguarding instead of FSCS cover

Allica Bank suits you if

Your business has traded for at least a year and keeps £50,000 or more in the account
You spend a lot on the card and want cashback without a monthly fee
You want a named relationship manager
You want your balance held by a bank, with FSCS cover

Why we pick Incard over Allica Bank for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Allica Bank: 1%, rising to 1.5% after £10,000 of card spend in a month.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Allica Bank: GBP only.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Allica Bank: No Allica fee; Visa exchange rate.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Allica Bank
Type and protection	E-money · safeguarded, no FSCS	Bank · FSCS cover
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	UK limited companies
Cheapest plan	Free: £0 a month	£0 a month with an average balance of £10,000 or more; otherwise £25 a month
Plans (monthly)	Free £0, Grow £49, Plus from £199	One plan: £0 a month with a £10,000 average balance, otherwise £25
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	1%, rising to 1.5% after £10,000 of card spend in a month
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	No Allica fee; Visa exchange rate
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	150 Faster Payments a month free, then £0.12
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	Through Wise in GBP, EUR or USD; Wise fee applies, no Allica fee
ATM withdrawals	2% in the UK, 2.5% abroad	No Allica fee; £750 a day limit
Cash deposits	Not listed	Not available: pay-ins by electronic transfer only
Currencies you can hold	GBP, EUR and USD, with IBANs	GBP only
Accepting card payments	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists a euro account, a US dollar account, accounts for UK sole traders, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Allica Bank

Allica Bank Limited (company number 7706156), authorised by the PRA and regulated by the FCA and PRA (FRN 821851). Eligible deposits are protected up to £120,000 by the FSCS, across all your accounts with Allica Bank.

Who can open one: UK-based businesses incorporated for at least 12 months that keep £50,000 or more in the account or have a loan (including an overdraft) with Allica. The product page also asks for UK-resident applicants aged 18 or over. Prohibited sectors include gambling, crypto, money service businesses, payment service providers and unregistered charities. Full Allica Bank profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

Work out your cashback Check eligibility