Lightyear Business Account Expert Review
Account: Lightyear Business Account
Description: Lightyear won Best Business Investing App because they simplify the process of opening a corporate investment account. By enabling businesses to invest in the stock market rather than solely holding cash, Lightyear empowers companies to make more from their funds, maximizing potential returns.
Is Lightyear a good business investing account?
Lightyear won “Best Business Investing Account” in the 2024 Good Money Guide Awards as they have really simplified the process of opening corporate investment accounts.
There are no fees to open, bank transfer into, withdraw from, or maintain a Lightyear business account and you can hold currency in either GBP, USD & EUR.
Plus, investing in ETFs is completely free of execution fees, and won’t be subject to conversion fees either if you hold money in USD, GBP or EUR.
But, if you do convert currency, Lightyear only charges an FX fee of 0.35%
Your business can also invest in high-interest-rate treasury products backed by BlackRock.
Charlotte Ashdown from Lightyear said after winning the review: We’re honoured to win this award. Most business funds are kept in easy-access accounts with incumbent brokers and banks, earning only 1-2% interest, which leads to billions in potential earnings being lost. We’re addressing this by helping businesses earn the interest they deserve, ultimately contributing to both their success and the economy’s. For retail investors, we advocate a diversified portfolio—US stocks are popular, but UK stocks are also essential for balance. Today’s discussions on making bonds more accessible to retail investors show promising steps toward creating balanced portfolios with lower-risk options alongside higher-risk stocks.
Pros
- Simple to use
- Low costs
- Good interest rates
Cons
- Limited market rate for complex investment strategies
- Limited order types for active investors
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Pricing
(5)
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Market Access
(4.5)
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App & Platform
(5)
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Customer Service
(5)
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Research & Analysis
(4.5)
Overall
4.8
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
