Additional Savings Account Terms

Last material update: 16 October 2026

These Additional Savings Account Terms (the "Savings Account Terms") set out the terms that govern your access to and use of the Teya Savings Accounts, including the Savings Pots and Balance Boost products. They apply in addition to, and form part of, the Business Account Terms, including the Teya General Terms and the Teya Payment Services Terms. These terms and conditions therefore apply to your use of the Savings Account(s).

If there is any inconsistency between these Savings Account Terms and any other terms, these Savings Account Terms will apply and take precedence in relation to the Savings Accounts. Unless otherwise defined in section 2 of these Savings Account Terms, capitalised terms have the same meaning as in the Business Account Terms

If you do not understand any part of these Savings Account Terms, please contact us in accordance with section 18.1 below.

1.    About the Savings Account(s)

1.1.  We have arranged for your Savings Account(s) to be provided to you by ClearBank Limited ("ClearBank"), a bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 754568). ClearBank's registered address is Level 27, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW.

1.2.  Whilst your deposits will be held for you by ClearBank as a ClearBank customer, Teya is assisting ClearBank in operating the Savings Account(s) and will be your day-to-day point of contact for all matters relating to your Savings Accounts, including any questions, instructions, or complaints. References to "we", "us" and "our" in these Savings Account Terms refer to Teya acting in that capacity, except where the context requires otherwise.

1.3.  By opening a Savings Account(s), you also agree to comply with the ClearBank end-customer terms, which will apply in addition to these Savings Account Terms. We will make the ClearBank end-customer terms available to you within the Teya App prior to account opening.

1.4.  Key product information, including the applicable interest rate, is set out in the Summary Box which we will provide to you before you open a Savings Account. You should read the Summary Box carefully before opening your account. When the Summary Box is updated, for example to reflect changes in the rate of interest offered, the updated version will be made available to you.

1.5.  The Savings Accounts are available in two forms for those who are eligible and who have successfully opted into these products:

(a) Savings Pot: an instant-access savings account into which you may transfer funds manually at any time via the Teya App. Funds are held separately from your Business Account and, subject to these terms, earn interest for as long as they remain in the Savings Pot. Unless where expressly stated otherwise, the terms governing Savings Pot(s) are set out in sections 2 to 20 of these Savings Account Terms.

(b) Balance Boost: an automated daily transfer facility that automatically moves your entire available Business Account balance into a Savings Account each day to maximise your interest earnings, and ensures that funds are moved back into your Business Account in real time when you need to make a payment. Unless where expressly stated otherwise, Sections 2 to 20 of these Savings Account Terms apply to Balance Boost too, alongside section 21, which sets out additional terms that only apply to Balance Boost. Section 21 takes precedence over sections 2 to 20 to the extent of any conflict.

2.    Definitions

In these Savings Account Terms, the following terms have the meanings set out below:

Balance Boost: means the automated daily transfer facility provided to you by Teya in accordance with these Savings Account Terms.

Balance Boost Savings Account: means the Savings Account provided to you by ClearBank and administered by Teya into which funds are transferred and retrieved via Balance Boost;

Business Account: has the meaning given in the Business Account Terms, being the e-money account issued by Teya in the name of the Business Account Holder.

ClearBank: means ClearBank Limited (company number: 09736376), as further described in section 1.1 above.

Interest Rate: means the interest rate payable on funds held in your Savings Account, as set out in the Summary Box and further described in section 6.

Margin: means, where a Variable Tracker Rate applies, the percentage deducted from the Bank of England Base Rate to calculate the Interest Rate, as specified in the Summary Box.

Promotional Rate: has the meaning given in section 6.2 of these Savings Account Terms.

Savings Pots: means the instant-access Savings Account account(s) provided to you by ClearBank and administered by Teya in accordance with these Savings Account Terms and the ClearBank Teya Savings Account Terms and Conditions.

Summary Box: means the key product information document setting out the main features of the Savings Account, including the Interest Rate, provided to you by us prior to account opening and available at all times within the Teya App and Teya Portal.

Savings Account(s): means the savings account(s) provided to you by ClearBank and administered by Teya in accordance with these Savings Account Terms, which may be made available as either Savings Pots and/or Balance Boost Savings Accounts.

Variable Tracker Rate: means an Interest Rate that is calculated as the Bank of England Base Rate minus the Margin and which moves automatically whenever the Bank of England Base Rate changes, as further described in sections 6.1 and 7.1 to 7.3.

3.    Eligibility and Opening Your Savings Account

3.1.  To be eligible to open a Savings Account, you must:

(a)   hold a Business Account that is active and in good standing;

(b)   be based in the United Kingdom; and

(c)   continue to satisfy any eligibility requirements that we or ClearBank notify you of from time to time.

3.2.  In addition to the requirements of 3.1(a) to (c), eligibility for Balance Boost is subject to Teya’s discretion.

3.3.  You may apply to open a Savings Account via the Teya App. By submitting an application, you confirm that you satisfy the eligibility requirements in section 3.1 and that all information you provide is accurate and complete. You must notify us immediately via the Teya App if there are any changes to the information you have provided, or if you no longer satisfy the eligibility requirements.

3.4.  As part of the account opening process, we may be required to carry out identity, verification, or other checks on you or your business (including anti-money laundering checks) to the extent not already completed in connection with your Business Account. We may request further information or documentation from you for this purpose. We reserve the right to decline your application without being required to provide reasons.

3.5.  Your Savings Account will be opened once we confirm acceptance of your application via the Teya App and, where required, you have successfully completed customer due diligence checks. We will notify you when your account is available to use.

3.6.  You may hold up to a maximum of ten Savings Pots, and one Balance Boost Savings Account (if applicable), at any time.

4.    How Your Savings Account(s) Work

4.1.  Your Savings Account(s) are held in pounds sterling (GBP) only. We will not transfer monies in any other currency into your Savings Account(s).

4.2.  Your Savings Account may only be used for business purposes, consistent with your use of the Business Account, and only by and for the benefit of the legal entity or business that has been onboarded for the associated Business Account. You must not use your Savings Account to hold, receive, transfer, or manage funds on behalf of any other company, affiliate, or third party

Savings Pots

4.3.  Your Savings Pot(s) account is an instant-access savings account. Subject to the terms set out here, you may transfer funds into and out of your Savings Pots account at any time, without any notice period or early withdrawal penalty.

4.4.  Your Savings Pot(s) account is separate from your Business Account. Funds held in your Savings Pots accounts are not part of the available balance in your Business Account and cannot be used directly to make payments to third parties or to fund your Teya Card. If you wish to use funds in your Savings Account for those purposes, you must first transfer those funds to your Business Account.

Balance Boost

4.5.  Balance Boost is an automated daily transfer facility that moves your entire available Business Account balance into a Balance Boost Savings Account each day to maximise your interest earnings, and transfers sufficient funds back in real time when you need to make a payment.

4.6.  Where Balance Boost is enabled, the Teya App and Teya Portal may display a combined available balance figure for ease of reference only, but your Business Account and your Balance Boost Savings Account remain legally separate accounts.

5.    Transfers To and From Your Savings Account

5.1.  Business Account: All transfers into your Savings Account must be made from your Business Account, and all transfers out of your Savings Account will be made to your Business Account only. If you want to transfer funds to or from any other account, you will need to transfer funds to your Business Account first.

5.2.  Making deposits: You may initiate a transfer from your Business Account to your Savings Pot(s)at any time via the Teya App or the Teya Portal. Transfers are subject to the account limits set out in section 8 and to any security checks or processing times that apply. If you have enabled Balance Boost, transfers from your Business Account to your Balance Boost Savings Account will be made automatically in accordance with section 21.3.

5.3.  Making withdrawals: You may initiate a transfer from your Savings Pot(s) to your Business Account at any time via the Teya App or Teya Portal. There is no notice period required and no penalty for withdrawal. If you have enabled Balance Boost, withdrawals from your Balance Boost Savings Account to your Business Account will be made automatically in accordance with section 21.4.

5.4.  Processing: Deposits from your Business Account into your Savings Account, whether to a Savings Pot or Balance Boost Savings Account, will typically reach your Savings Account in near real time of the transfer instruction being submitted. Withdrawals from your Savings Account to your Business Account will typically be received in near real time of the transfer instruction being submitted. These timeframes apply on Business Days during normal business hours. Transfers submitted outside Business Hours may take longer, and we will endeavour to process them on the next Business Day.

5.5.  Irrevocability of instructions: Subject to clause 21.5 (where Balance Boost applies), once a transfer instruction has been submitted (including automated transfers in accordance with clause 5.2 and 5.3), it cannot be cancelled or amended.

5.6.  Minimum balance: If your entire balance is withdrawn from your Savings Pot(s) or Balance Boost Savings Account and it remains empty for 2 months, we will give you one month’s notice that we intend to close the relevant Savings Account. If you do not fund the relevant Savings Account during that one-month period, we may close them at the end of that notice period.

6.    Interest

6.1.  Your Savings Account will earn interest at the Interest Rate, which is calculated as the Bank of England Base Rate minus the Margin set out in your Summary Box. The Interest Rate will therefore move automatically whenever the Bank of England Base Rate changes, in accordance with section 7.4 below.

6.2.  In either case, your Interest Rate may also include any promotional or additional rate we may offer from time to time ("Promotional Rate"), which will be specified in your Summary Box.

6.3.  Subject to the Bank of England Base Rate staying above the Margin set out in your Summary Box, you will receive interest on funds held in your Savings Account at the Interest Rate applicable to your account. In the unlikely event of market conditions resulting in a negative interest environment, this may be applied to your Savings Account. This means that instead of receiving interest, interest would be deducted from your account balance. We will notify you as soon as reasonably practicable if this is to occur. You authorise us to deduct such amounts from your Savings Account accordingly.

6.4.  In respect of Savings Pot(s), to be eligible to accrue interest on the day you transfer monies to your Savings Pot(s) (“Transfer Day”), you need to have placed an instruction to transfer monies from your Business Account before 23:30 on the relevant day (the “Cut-Off Time”).  Thereafter, daily interest, including on your Transfer Day, is only payable on monies kept in the Savings Pot(s) until 23:59.

6.5.  Where an interest calculation period includes 29 February, the daily interest rate applicable on that day will be adjusted to reflect the 366-day year.

6.6.  Where Balance Boost is enabled, the available balance in your Business Account will be automatically moved into your Balance Boost Savings Account once each day at the Cut-Off Time (the Outbound Transfer, as further described in section 21).

6.7.  Any funds received into your Business Account after the Cut-Off Time on a given day will remain in your Business Account and will not be transferred into your Balance Boost Savings Account until the next daily Outbound Transfer. Such funds will therefore not begin to accrue interest in your Balance Boost Savings Account until they have been swept into it.

6.8.  Interest accrues until funds are withdrawn or your Savings Account is closed. Interest is paid by ClearBank on the next calendar day on a gross basis (before tax).

7.    Changes to the Interest Rate

7.1.  The Interest Rate is subject to change.

7.2.  Bank of England Base Rate changes: The Interest Rate will move automatically with the Bank of England Base Rate. If the Bank of England Base Rate changes, the Interest Rate on your Savings Account will change accordingly on the day after the change is announced. We do not need to give you prior notice of any change to the Interest Rate resulting from a change to the Bank of England Base Rate.

7.3.  Changes to the Margin: Where we change the Margin in a way that reduces your Interest Rate, we will give you at least 14 days' advance notice before the change takes effect. The same acceptance and closure mechanics as set out in section 6.2 will apply. If we change the Margin in a way that increases your Interest Rate, we will not give you prior notice.

7.4.  Changes arising from your Teya plan: The Interest Rate applicable to your Savings Account may also vary depending on your active Teya plan. If you upgrade or downgrade your Teya plan, your Interest Rate may change accordingly with immediate effect. We will not give you advance notice of a change to your Interest Rate that results solely from a change to your plan that you have initiated. You are responsible for checking the Interest Rate that will apply to your Savings Account before making any change to your plan. The current Interest Rate applicable to each plan is set out in the Summary Box and is available within the Teya App and Teya Portal at all times

7.5.  Expiry of a Promotional Rate: Where a Promotional Rate is due to expire, we will notify you at least 14 days before the expiry date. We will assume you have accepted the change unless, before the Promotional Rate expires, you contact us to say you do not accept it. If you tell us you do not accept the change, this will be treated as notice from you to close your Savings Account in accordance with section 13.

8.    Account Limits

8.1.  Transfers into and out of your Savings Account may be subject to minimum and maximum limits. If these apply, then we will communicate them to you.

8.2.  We reserve the right to change the applicable limits at any time and will notify you of any changes.

8.3.  We may refuse to process a transfer if doing so would cause any applicable limit to be exceeded. If you require information about the limits applicable to your account, or wish to request a review of your limits, please contact us.

9.    Statements

9.1.  We will provide you with a monthly statement in the Teya App and Teya Portal setting out details of your Savings Account, including your opening and closing balance, any transfers in and out, and interest credited during the period.

9.2.  You should review your statements promptly and notify us without undue delay of any inaccuracies. Please see section 11 for further details on how to report errors or concerns.

9.3.  Display of Interest Rate: The current Interest Rate applying to your Savings Account will be shown prominently alongside your account balance in the Teya App, on our website, and in each monthly statement provided to you under section 9.1. https://www.bankofengland.co.uk/You may also request confirmation of the current Interest Rate from us at any time by contacting us using the details in section 18.

10.   Fees

10.1. Your Savings Account may be subject to fees based on your Teya subscription tier, which can be found in your Teya App.

10.2. Certain other fees may apply in connection with your Business Account (for example, transfer fees), as set out in the Teya App and Teya Portal. These are separate from any fees relating to the Savings Account.

11.   If Something Goes Wrong

11.1. Errors in transfers: If a transfer from your Savings Account was not executed in accordance with your instructions (for example, if it was not directed to your Business Account as instructed), we will, upon being notified, refund the transfer amount and any associated charges to your Savings Account no later than the end of the next working day. If a transfer to or from your Savings Account is delayed due to our error, we will restore your account to the position it would have been in had the error not occurred, including in respect of any interest that would have accrued.

11.2. Unauthorised transfers: If you believe a transfer has been made from your Savings Account without your authorisation, please contact us immediately via the Teya App or by contacting customer support. We will investigate and, where a transfer is found to have been unauthorised (subject to applicable law), refund the amount of the unauthorised transfer together with any related charges. We reserve the right not to make an immediate refund where we have reasonable grounds to suspect fraud, in which case we will contact the relevant authority.

11.3. Reporting concerns: You must notify us of any suspected error, unauthorised transfer, or security concern without undue delay and in any event no later than 13 months from the date of the transfer in question. If you are a large business customer (as defined in the ClearBank End Customer Terms), the time limit for notifying us of unauthorised transactions is six months from the date of the transfer.

11.4. Erroneously credited funds: If funds are credited to your Savings Account in error (whether by us, ClearBank, or otherwise), those funds do not belong to you. We may, without further notice, deduct from your Savings Account an amount equal to the erroneously credited funds together with any interest earned on them during the period they were held in your account.

11.5. Refusing transactions: We may refuse to execute a transfer if:

(a)   we reasonably suspect that the instruction was not provided by you or an authorised representative of your business;

(b)   we reasonably suspect fraudulent activity or a breach of these Savings Account Terms;

(c)   the instruction is unclear, incomplete, or not in the required form;

(d)   processing the transfer would exceed any applicable account limit;

(e)   your Savings Account has been suspended or frozen;

(f)   we are required to do so by Applicable Law or any regulatory body; or

(g)   your Business Account is no longer active or in good standing.

Where we refuse to execute a transfer, we will, where possible, notify you of the refusal and the reason for it (unless we are unable to do so for legal or regulatory reasons).

11.6. General liability: Our general liability exclusions and caps, including in respect of indirect losses, force majeure events, and system failures of third parties, are set out in the Teya General Terms and apply equally to the Savings Account. Further, we will not be liable to you for any of the circumstances set out in section 11.1 of the ClearBank End Customer Terms.

12.   Changes to These Savings Account Terms

12.1. We may change these Savings Account Terms (including by introducing new fees) at any time. We will notify you of any changes via the Teya App, by email, or by such other means as we agree with you.

12.2. We will give you at least one month’s notice before making any change to these Savings Account Terms, except that we may make a change with less than one month’s notice (or with immediate effect) where:

(a)   the change is required by Applicable Law or a regulatory authority;

(b)   the change corrects a factual error or ambiguity;

(c)   the change introduces a new feature or product that you are not obliged to use; or

(d)   the change is unambiguously to your financial benefit (for example, a reduction in fees).

12.3. If you do not accept a proposed change, you may close your Savings Account before the change takes effect without penalty, in accordance with section 13. We will treat your continued use of your Savings Account after the effective date of a change as acceptance of that change.

13.   Closing Your Savings Account

13.1. Closure by you: You may close your Savings Account at any time by following the steps within the Teya App or Teya Portal or by contacting our customer support team. If you close your Savings Account, you will need to withdraw all funds prior to closing it. We will process the closure and transfer following receipt of your instruction.

13.2. Closure by us: In addition to our rights set out in clause 14.1, we may close your Savings Account by giving you at least one month’s notice in the following circumstances:

(a)   we decide to discontinue the Savings Account product;

(b)   any other reason, acting reasonably and in accordance with Applicable Law; or

(c)   In accordance with clause 5.6.

We may also close your Savings Account with immediate effect or shorter notice, including (without limitation) where:

(d)   you no longer satisfy the eligibility criteria in section 3.1 or 3.2;

(e)   we are required to do so by Applicable Law or a regulatory or governmental authority;

(f)   we reasonably suspect fraud, money laundering, or other illegal activity in connection with your Savings Account and/or Business Account;

(g)   your Business Account is closed or terminated for any reason; or

(h)   any of the circumstances set out in section 12.3 of the Business Account Terms apply.

13.3. Effect of closure: On closure of your Savings Account, any remaining balance and accrued interest up to the effective date of closure will be transferred to your Business Account. If your Business Account is no longer available, we will contact you to arrange an alternative means of returning your funds.

13.4. Closure of Business Account: If your Business Account is closed or terminated for any reason, your Savings Account will also be closed. We will contact you to arrange the return of any funds held in your Savings Account.

14.   Account Dormancy and Suspension

14.1. Dormancy: If your Savings Account has been inactive (i.e., no deposits or withdrawals have been made) for a period of 24 months, we may classify it as dormant. After making this classification, we will give you at least three months’ prior notice before closing your account for this reason. . Interest will continue to accrue on dormant accounts.

14.2. Reactivation: To reactivate a dormant account, please contact us via the Teya App, Teya Portal or customer support. We may require identity verification before reactivating your account.

14.3. Suspension and freezing: We may suspend or restrict access to your Savings Account at any time if:

(a)   we are required to do so by Applicable Law or a regulatory authority;

(b)   we reasonably suspect fraudulent activity or a security breach;

(c)   ClearBank suspends or restricts access to your Savings Account under the ClearBank Teya Savings Account Terms and Conditions; or

(d)   your Business Account is suspended or restricted.

We will notify you of any suspension as soon as reasonably practicable, unless we are prevented from doing so by Applicable Law or operational reasons. Any suspension will be lifted as soon as the relevant circumstances no longer apply.

15.   Tax

15.1. Interest paid on your Savings Account is paid gross, meaning no deductions for income tax or any other tax are made by us or ClearBank. You are solely responsible for ensuring that any tax obligations arising in connection with interest earned on your Savings Account are met. This may include, depending on your circumstances and business structure, corporation tax or income tax on interest received.

15.2. ClearBank is required by law to share certain information about your Savings Account – including your identity and account details – with HM Revenue & Customs ("HMRC") and, where applicable, with overseas tax authorities. You may be required to provide ClearBank or us with information about your tax residency status. If your tax residency changes, you must notify us within 30 days of the change via the Teya App or Teya Portal.

15.3. We do not provide tax advice. If you are unsure about your tax obligations in respect of the Savings Account, we recommend that you seek independent professional advice or consult HM Revenue & Customs.

16.   FSCS Protection

16.1. Because the Savings Account is a deposit held at ClearBank, your eligible deposits in the Savings Account may be protected by the Financial Services Compensation Scheme ("FSCS"), subject to your eligibility. More information relating to FSCS protection can be found in clause 15 of the ClearBank Teya Savings Account Terms and Conditions and within ClearBank's FSCS Information Sheet at (ClearBank | FSCS protection).

16.2. The FSCS protection described in this section 16 applies only to your deposits held in the Savings Account at ClearBank (for Balance Boost, a breakdown of the deposits held in the Balance Boost Savings Account can be accessed through the Teya App and Teya Portal). Funds held within the Business Account will be safeguarded in accordance with section 3 of the Business Account Terms.

17.   Data and ClearBank

17.1. In connection with your Savings Account, we will share relevant information about you and your account with ClearBank for the purposes of administering your account and meeting our respective regulatory obligations. ClearBank will process your data in accordance with the ClearBank Teya Savings Account Terms and Conditions.

17.2. Our general data processing obligations, your rights in respect of your personal data, and how we handle your information are set out in the Teya General Terms and our Privacy Policy, both of which apply equally to the Savings Account.

18.   Contacting Us

18.1. You may contact us regarding your Savings Account through the Teya App or via our customer support team at help@teya.com.

19.   Complaints

19.1. Our general complaints procedure is set out in the Teya Payment Services Terms. If you have a complaint specifically about your Savings Account, please contact us via the Teya App, Teya Portal or via our customer support team (using the contact details in section 18.1).

19.2. If your complaint relates to ClearBank's provision of the underlying Savings Account, we will liaise with ClearBank on your behalf. Where appropriate, we may refer you to ClearBank directly.

19.3. If you are not satisfied with our response to your complaint, you may be entitled to refer it to the Financial Ombudsman Service ("FOS"), free of charge. Further details regarding your right to make a complaint to the FOS, or other mechanisms you may use to resolve matters, can be found in clause 20.3 of the Teya Payment Services Terms.

19.4. If your complaint relates to FSCS protection, you may also contact the FSCS directly at www.fscs.org.uk.

20.   General

20.1. Third-party rights: No third party shall have the right to enforce any provision of these Savings Account Terms under the Contracts (Rights of Third Parties) Act 1999.

21.   Balance Boost

21.1. In the event of any conflict or inconsistency between this section 21 and any other provision of these Savings Account Terms, this section 21 shall prevail to the extent of that conflict or inconsistency in relation to the Balance Boost feature.

21.2. Enabling and disabling Balance Boost:

(a)   Where you are eligible, you may enable Balance Boost via the Teya App when opening your Teya Business Account, or at any point afterwards. Once enabled, Balance Boost will operate automatically each day in accordance with sections 21.3 and 21.4 below.

(b)   You may disable Balance Boost at any time via the Teya App or Teya Portal. If you disable Balance Boost, the automatic transfer mechanics will cease.

21.3. Outbound Transfer (Business Account → Balance Boost Savings Account):

(a)   When Balance Boost is enabled, we will automatically transfer the entire available balance of your Business Account to your Balance Boost Savings Account (the "Outbound Transfer") at the Cut-Off Time each day.

(b)   The Outbound Transfer will only be triggered if there is a positive available balance in your Business Account at the time the transfer runs.

(c)   If the Outbound Transfer fails for technical reasons on a given day (for example, due to a system error), it will be logged and we will attempt to process it on the following day. We will not be liable to you for any interest you would have earned had the transfer completed successfully on the scheduled day, except where the failure was directly caused by our negligence.

21.4. Reverse Transfer (Balance Boost Savings Account → Business Account):

(a)   Where Balance Boost is enabled, if you attempt to make a payment from your Business Account (including a card payment, electronic funds transfer, ATM withdrawal or Direct Debit) and your Business Account does not hold sufficient funds to cover that payment, we will automatically transfer the required amount from your Balance Boost Savings Account and ensure that your Business Account is correspondingly credited in real time before processing the payment (a "Reverse Transfer"). This allows you to make payments using your combined Business Account and Balance Boost Savings Account balance without manually transferring funds first.

(b)   Payments will be made using your Business Account first; we will only initiate a Reverse Transfer for the amount required to cover the payment in question. We will not transfer any remaining monies held in your Balance Boost Savings Account which are not needed to facilitate that payment.

(c)   If the combined balance of your Business Account and Balance Boost Savings Account is insufficient to cover a payment, the payment will be declined. Balance Boost does not operate as an overdraft or credit facility.

(d)   Reverse Transfers may be triggered by card authorisations, outbound electronic transfers, and Direct Debit collections.

21.5. Authorisation: In applying for Balance Boost you are:

(a)    instructing Teya to make, on your behalf, a daily transfer at 23:30 of the entire balance in your Teya Business Account and place the corresponding amount in your Balance Boost Savings Account held with ClearBank. You also instruct Teya to make, on your behalf, withdrawal payments from your Balance Boost Savings Account in order to make funds available in your Teya Business Account. This is required to facilitate your spending from your Teya Business Account. You agree that transfers under Balance Boost will be initiated automatically by Teya acting on your behalf and without further instruction, authentication or action from you at the time of the transfer.

(b)   consenting to these automatic transfers from when you enable Balance Boost and until your consent is withdrawn by you by disabling Balance Boost, or until your Balance Boost Savings Account or Teya Business Account is suspended, closed or terminated in accordance with the Teya Additional Terms and/or ClearBank Customer Terms.

21.6. Combined Balance View: Where Balance Boost is enabled, the Teya App and Teya Portal will display a combined available balance figure representing the aggregate of your Business Account balance and your Balance Boost Savings Account balance. This combined figure is provided for ease of reference only. Your Business Account and Balance Boost Savings Account remain legally separate accounts, and the rights and protections applicable to each (including FSCS protection in respect of your Balance Boost Savings Account provided by ClearBank, as described in section 16) are unaffected by the combined balance display.

21.7. Interest under Balance Boost: Interest will accrue on Balance Boost Saving Account funds in accordance with section 6 of these Savings Account Terms.

21.8. Statements and Record Keeping: All Outbound Transfers and Reverse Transfers are recorded as individual transactions and will appear in your monthly statements issued under section 9 of these Savings Account Terms.

Please find the link to the ClearBank end-customer terms: ClearBank Terms