Take a look at all our FAQs for immediate answers to common questions.
How does the Moneybrain Cash Savings plan work?
You can save from a minimum of £1,000. There’s no maximum.
We’ll automatically find you the best rate from our partner banks.
At the end of the one-year term, you can automatically roll-over to the best new rate.
Why am I not just covered to the normal £85,000 with the FSCS?
Because we spread your deposit across up to 5 banks, you are covered to a maximum of £85,000 with each bank. The maximum covered deposit is therefore £425,000.
I have less than £85,000 to deposit.
That's fine. We will ensure that your money is deposited with the bank paying the best rate.
I have more than £85,000 to deposit.
Your money is deposited in chunks with the banks from highest to lowest rate.
What happens if I have more than £425,000 to deposit?
You can still deposit your money however the difference above the £425,000 maximum will not be covered by the Financial Services Compensation Scheme (FSCS).
Can I withdraw funds I deposit?
If you opt for the 1 year fixed account the money needs to be with the bank for the minimum period of 12 month and cannot be withdrawn. If you choose this option it is important that you can commit to the full year.
If you opt for the 35 day notice account you can withdraw your funds with a minimum amount of £1,000 per withdrawal. Each withdrawal on this account requires a minimum of 35 days notice. There are no limitations to the number of withdrawals. If the balance is less than a £1,000 the full amount will need to be withdrawn.
Can I apply if I am an Individual, SME, Charity or Trust
Individuals - are accepted by all of the banks we work with.
SME - If you are an SME then all but 'Bank & Clients' will allow an account to be opened.
Charities - As a charity, 'Aldermore', 'Cambridge and Counties' and 'Metro Bank' will allow accounts to be opened.
Trusts - If you are applying as a trust, 'Aldermore' and 'Metro Bank' will support applications.