3 months | GBP
  • FSCS protects deposits up to £85,000 per person

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5.05 % AER
3 months

About SmartSave

SmartSave was founded in 2019 by Chetwood Financial Limited, a Wrexham-based bank authorised and regulated by the FCA and PRA. We’re experts at helping customers save the smart way – as of May 2024, over 100,000 customers have trusted us to grow more than £5.6 billion in savings deposits.

All eligible deposits saved with SmartSave are protected by the Financial Services Compensation Scheme (FSCS), up to a total of £85,000.

Bank details

Headquarters: Wrexham
Year established: 2019

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks/building societies and means if the bank/building society fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this building society (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks/building societies and banking groups. This building society holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

Who is Raisin?

We are the UK savings marketplace for Raisin, one of Europe’s most successful technology-led financial services companies. We want to get Britain saving, so we connect savers with a range of banks and building societies offering deposit-protected savings accounts with competitive interest rates.

Using our savings marketplace is simple. By registering for a Raisin UK Account, you'll only ever need to fill in one application form. Then you can browse, apply for and fund a range of savings accounts, and manage everything under one roof. No paperwork or endless passwords to remember - just a free, easy way to grow your savings.