Salt Business brings together in a single app everything an entrepreneur needs for day-to-day banking: from accounts, payments and invoices to savings, payments collections and business management.
The latest features further enhance the experience: funds that a company does not need immediately can earn interest of up to 4% per year, a smartphone can become a POS terminal, including on iOS devices, and the account can be managed by multiple shareholders or directors.
Money your business does not need right away can earn up to 4% interest
In business, money is always moving. But there are also times when part of it remains in the account, waiting for the next investment, order or payment. Until then, it can generate additional income.
With the Business Savings Account, Salt Business customers can earn interest on funds they do not need immediately, without locking them away. Transfers between the current business account and the savings business account are instant and can be made directly in the app, so the money remains available whenever the business needs it. Interest is calculated daily, paid monthly and can reach up to 4% per year.
One important difference compared to most savings products for businesses is that the Business Savings Account has no minimum balance requirement for earning interest. While most products on the market only start paying interest once a certain balance threshold is reached, with Salt Business, every amount saved earns interest.
This is possible because the interest rate is progressive and applied across balance tiers. For example, for a balance of RON 70,000, the first RON 10,000 earns an annual interest rate of 1.5%, the next RON 40,000 earns 2.5% per year, and the following RON 20,000 earns 4% per year. This means that each portion of the balance earns the interest rate corresponding to its respective tier, up to 4% per year.
In short, regardless of how much a business sets aside, the money starts earning interest immediately and remains available whenever the company needs it.
With Salt POS, businesses can accept payments directly on their phones
“Can I pay by card?” is a question almost every entrepreneur hears at some point. With Salt POS, the answer can be right there on their phone.
The solution turns a smartphone into a contactless payment terminal, with no physical POS, no additional equipment and no need to have a separate terminal delivered or installed.
For Salt Business customers, activation is 100% digital and takes less than five minutes. After downloading and activating the Salt POS app, the phone can be used to accept contactless payments.
Salt POS works on compatible Android and iOS devices. To make a payment, the customer simply taps their card, phone or smartwatch on the merchant’s device, and the transaction is processed contactlessly. Salt POS accepts Visa, Mastercard, Apple Pay and Google Pay, while transaction confirmation and a digital receipt are available immediately.
The solution can be used in a store, at a pop-up location, for deliveries, at a customer’s premises, at fairs and events, or anywhere a payment needs to be collected. In practice, entrepreneurs have their POS terminal at hand wherever they have their phone.
There is no monthly administration fee, while the transaction fee is 1% of the value of each transaction, with a minimum fee of RON 1.
Transactions are protected through end-to-end encryption and tokenisation, while card details are not stored on the phone. The app also allows businesses to track payments and transaction history, as well as manage cancellations and refunds.
And the essentials remain simple
Salt Business also brings together the essentials of running a business. Accounts support multiple directors and can be managed directly from the app by several shareholders or directors, meaning access to the company’s account no longer depends on a single person.
In addition, customers who open an account using the SALT23 code benefit from six months at zero cost, with no additional conditions. After this period, account administration remains free for companies with monthly incoming payments of at least RON 5,000.
Business customers also benefit from free and unlimited RON payments, the first two EUR payments free of charge each month, and free cash withdrawals of up to RON 5,000 per month, limited to five transactions.
Entrepreneurs can also issue and receive invoices directly from the app through Invoices, with SPV and e-Factura integration.
From accounts, payments and invoices to savings and accepting payments directly on a smartphone, Salt Business brings together in a single app the banking services entrepreneurs need.
