Account options

Cash Savings

Get quick and easy access to some of the best interest rates available. Set up an account on the Cash Savings platform with no commitment then browse, choose, and switch.

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Why it could be right for you

Benefits of Cash Savings

Think of the Cash Savings platform as a marketplace for your money. Creating an account through our Direct Investment Service allows you to manage everything in one place, safely and securely, while potentially getting better rates than you currently receive.

Accessible

Get access to higher interest rates from a range of high-street and challenger banks with as little as a £1 deposit.

Simple

It’s quick and easy to open, view and transfer your savings to higher interest accounts all in one place, at no upfront cost.

Flexible

Choose between easy access, fixed-term, and notice accounts. Or use all three and manage your accounts in a few clicks.

Secure

Feel peace of mind with FSCS protection of up to £85,000 per person, per banking group.

A Cash Savings account is ideal if:

You have short-term goals

If your savings goal is within the next five years, you can get higher interest without having to commit your money.

You want to have more than one savings account

View and manage all your accounts in one place, with just one combined tax report to simplify your end-of-year tax returns. Compare, open, and transfer accounts at no cost.

You're not ready to invest just yet

If you’re not quite ready to invest, take advantage of higher interest rates on your savings. Choose between easy access, fixed term or notice accounts. 

The best interest rates on Cash Savings

Explore the interest rate offers available. You can quickly and easily move from one account to another with the Cash Savings platform.

How does the Cash Savings platform work?

When you open an account on the Cash Savings platform, you will be directed to a secure platform powered by Bondsmith to deposit funds into a holding account in your own name. From there, you have three options: an easy access, fixed-term or notice account.

Take control of your savings and investments today

At Charles Stanley, we have been providing financial support to our clients for over 200 years. Find out how you can create a more secure financial future.

How do I get started?

  • Sign up to the Direct Investment Service, our first-class platform and app 
  • Set up your Cash Savings account or choose from a range of investment options including Stocks & Shares ISAs and SIPPs (Self-Invested Personal Pensions)
  • We also offer financial coaching to help with your tricky money questions
  • Get in touch and we can arrange a free consultation for you to discuss your needs with one of our financial experts 

Powered by Bondsmith

We are providing you with this service in conjunction with Bondsmith, a financial technology company authorised by the Financial Conduct Authority. Bondsmith provides the platform that allows financial services companies like Charles Stanley Direct to offer its clients access to some of the best deposit interest rates currently available.

There is no upfront cost, but Bondsmith retains 0.1% of the interest received as the fee for providing this service. The rates shown are net of this fee so you will receive these rates in full. Charles Stanley receives no payment for providing access to this service. Your funds will not be held by Charles Stanley but are placed on deposit with the banking partners that you choose.

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Frequently asked questions

Anyone who is a UK resident can open a Cash Savings account, with savings options available from as little as £1.

Each deposit account you open is not held by Charles Stanley but with whichever banks you choose to be your depositary of choice. Such accounts are protected up to a value of £85,000 per client for each bank or credit institution under the FSCS. Such protection, and its limitations, are outlined on the FSCS website. Until moved to your selected deposit account(s) your money will be held in a HSBC holding account. Details of FSCS protections offered by HSBC can be found here: How FSCS protects your money | HSBC UK

You can make an electronic payment to your Cash Savings account from your nominated bank account. You can find these details under your Profile, after logging into your Cash Savings account. Once the funds are in your holding account, you can move them to the easy access, notice or fixed term account of your choice.

Your Charles Stanley Cash Savings account(s) will receive the rates of interest that apply for each account. Interest is paid without tax being deducted to your Savings account. The dates at which these are paid will depend on each account’s details.

Interest received is paid without tax being deducted by the provider, which means it counts towards the Personal Savings Allowance. You are responsible for reporting and paying any tax due on interest that exceeds your Personal Savings Allowance to HMRC through your Self-Assessment Tax Return. Because all your savings accounts are managed through a single master account with Charles Stanley Cash Savings, you will receive a consolidated tax statement after 5 April that calculates the total interest you have earned in the tax year. This will be available to view and print online. Tax rates and allowances are subject to change.