Allica Bank
Established-SMB challenger bank.
- Who holds it
- The company itself — it holds a full banking licence — Full UK banking license (PRA/FCA authorised).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Allica Bank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · SMB & startups |
| HQ | Milton Keynes, UK |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Full UK banking license (PRA/FCA authorised) |
| Card | MC · Business |
| Yield | Rewards account |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
Verified links: official site ↗
Common questions about Allica Bank
What is Allica Bank?
Allica Bank is a fiat neobank built for SMB & startups, headquartered in Milton Keynes, UK and founded in 2019. Your money is held custodially, so Allica Bank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Full UK banking license (PRA/FCA authorised)).
Does Allica Bank have a card, and where can you use it?
It issues a Mastercard business card. It is available in Europe.
Does Allica Bank require KYC?
Yes. Allica Bank requires identity verification (KYC) to open an account, as a licensed bank.
What does Allica Bank cost?
From the verified fields: yield Rewards account. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Allica Bank before relying on them.
Early investors
Head-to-head
Allica Bank vs Tide · Allica Bank vs ANNA Money · Allica Bank vs OakNorth · Allica Bank vs Zempler Bank
Peers
Monzo · Wise · Starling Bank · Atom Bank · Zopa Bank · Chase UK
Allica Bank appears in
Neobanks that hold their own banking license (132) · Neobanks available in Europe (144) · Neobanks for small businesses and startups (33) · Neobanks that issue a Mastercard (150) · Neobanks in United Kingdom (29)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.