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CANCEL
02 Apr 2019

Amaiz is switching to a business banking service

Firstly, a big thank you. To everyone who joined our mailing list, helped us with Voice ID, attended our fact finders and entered our promotional competitions. Without your time, feedback and support we couldn’t have developed and refined our services to the extent we have.

As a result of this research, however, we have identified a better path ahead for Amaiz and will be switching our focus to business banking.

Amaiz for small business will serve sole traders and entrepreneurs, but is open to anyone who runs a business on their own in the UK. While personal banking is still in our long term plans, we’re re-focusing our efforts to respond to market need and demand.

Why small business?

According to government forecast figures, 2019 will be the year of entrepreneurship. Already, small businesses make up a significant portion of the UK economy, but this is set to rise, particularly with sole trading in the gig economy. According to the Department for Business, Energy and Industrial strategy, small businesses contribute 39% of total private sector turnover.

That said, despite the numbers of sole traders and entrepreneurs increasing, there still aren’t many, if any, financial products tailored to this sector. Contractors and consultants, freelancers and solo entrepreneurs still lose a lot of time and money to back office, admin, tax reporting and expense collecting. While traditional business banking does nothing to help integrate services and products to make life easier. We believe we can offer our new customers mobile products and services that add bespoke value, while giving them back precious time to concentrate on the day job.

What will happen to Amaiz retail?

Amaiz as you know it, and the website, will switch to business banking services by early summer. Anyone with an account has been sent an email directly.

What will Amaiz for small business do?

We’re building an app that combines smart banking with clever tools for invoicing, bookkeeping and expenses to make self assessment and accounting much less of a headache.

Who can use Amaiz?

Currently, you need to be resident in the UK, over 18 years old and registered as a sole trader to open an account with us. If you do not fall into these categories right now, we’ll be here when we accept other company types, go international or you reach 18.

When is the launch?

Early summer this year. So make sure you subscribe to our updates on the new website to be the first to know about our free trial.

How much will it cost?

We will charge just £9.99 a month from September, following the trial period. All members can expect no extras or hidden fees, just one flat rate for all our services. This includes payments, transfers and cash withdrawals in the UK.

Which devices will support the app?

Our app will be available for iPhones running iOS 10 (or higher) and smartphones with Android 5.0 (or above).

How can I contact you?

Drop us a line at team@amaiz.com, get in touch via Facebook, Instagram or Twitter or call us on 0808 164 6641 (we are a small team and may not always be able to take your call, so leave us a voicemail if you want to have a chat and we'll get back to you as soon as we can).

Thank you again and we look forward to welcoming you to our new website and app.

The Amaiz Team