UK-based Telleroo has launched business savings accounts, provided by Griffin, alongside an inbound payments feature.
The savings accounts let businesses earn interest on balances that they do not need right away but must keep accessible. The accounts pay a variable rate of 3.34% AER, which includes a promotional uplift of 1.34% AER. The promotion runs until 31 March 2027, and after that date the variable rate will be 2.00% AER.
Griffin provides the savings product, which sits inside the Telleroo platform. Clients can therefore set aside surplus funds without logging into a separate provider or manually moving money to an external account. In addition, Telleroo built the feature around the reserves businesses commonly hold, such as money earmarked for HMRC or the next payroll run. Savings balances appear next to day-to-day payment activity.
Incoming payments added to the platform
Telleroo has also introduced the ability to receive funds directly into a Telleroo payments account. Businesses can put their Telleroo sort code and account number on invoices. Furthermore, they can also connect Stripe, Shopify, and GoCardless so that payments collected through those services arrive automatically, while the received funds can then be transferred into the savings account to earn interest.
Taken together, the two features take Telleroo beyond outbound payments. Firms on the platform can now track incoming funds, outgoing payments, and savings in one environment, which reduces the need to switch between systems to follow client cash flow. For accountants and bookkeepers, the company presents this as a way to help clients manage cash as well as make payments.
Andrew Cookson, CEO of Telleroo, said the company had spent years reducing the complexity of making payments but had always seen a wider opportunity. He noted that businesses should not have to choose between keeping money available for payroll, suppliers, and HMRC and earning a return on it in the meantime. He added that inbound payments, savings accounts, and the company’s own EMI licence bring more of the financial workflow into one place, without adding complexity to accountants’ processes.
Regulatory basis for a broader offering
The launches build on Telleroo’s authorisation as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA) in 2025. The licence followed the regulator’s review of the company’s financial conduct, security standards, and operational resilience. According to Telleroo, holding its own licence gives it more control over its product roadmap and allows it to build financial services for businesses and accountants that extend past payment processing.
The existing platform covers supplier and payroll payments. It offers client-owned accounts, approval workflows, built-in fraud prevention tools, and integrations with accounting and payroll software, including Xero and QuickBooks. Telleroo states that UK businesses use it to send more than EUR 8.6 billion in payroll and supplier payments each year.
The release presents the product additions as a broader shift in Telleroo’s offering, from a payment execution tool towards a platform that also covers collections and interest-bearing balances. Because Telleroo distributes its services through accountants and bookkeepers, the new features give those firms a further cash management service to offer their clients within a workflow they already use.
