Manchester-based Arro Money, which offers personal and business accounts, has launched an alternative to traditional business banking – a new B2B platform designed to provide easy access to a guaranteed acceptance account for instant payments.
Aimed at entrepreneurs, start-ups and contractors, these accounts will ensure businesses can start processing transactions immediately, as well as on-boarding payroll – a unique feature in the financial services sector.
A strong alliance with MasterCard means Arro’s business accounts will offer higher spend limits and card balance, and ensures the Arro card can be accepted by millions of merchants globally.
Due to stringent rules from traditional banks many entrepreneurs have been forced into using a personal bank account to operate a business, which can cause problems when it comes to managing taxes and managing the finances of a business efficiently.
This solution offers the same high security standards as traditional solutions. The only real-time account portal available on the market to be certified by an independent security quality assessor, the account ensures customers’ data is always protected.
Muhammad Asim, director at Arro Money, explained: “We have spent the last four years building this solution. We took time to conduct first-hand research to establish what businesses truly needed from their bank accounts. We combined this with best practice across the industry to provide a flexible and unique solution which puts customers first.
“While other, now high-profile providers, rushed to market, Arro put the customer first to ensure that when our product was launched to market it had the best offering to meet the needs of the individuals using it.”
The launch of the new business account caps a successful year for Arro. Its personal account continues to go from strength to strength, with an active user base that is growing month-on-month, as the organisation continues to exceed its customer acquisition targets.
The company also recently opened Series A Financing to raise further funds for investment in enhancing customer experience of the product, as well as building additional capacity in-house. 2018 will see Arro focus on acquiring 50,000 business accounts while maintaining an excellent personal account offering.