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A new, innovative solution for cash savings
CashHub MultiBank is a high-interest, easy access savings product with increased FSCS protection.
With CashHub MultiBank, your money is deposited across accounts from three leading UK banking groups. So, you’ll benefit from a competitive overall interest rate, and additional FSCS protection, without the stress of shopping around and completing multiple forms.
Why use CashHub MultiBank?
- FSCS protection up to £360,000 (£720,000 for joint applicants) for eligible savers
- Earn a competitive interest rate from well-known leading UK banking groups
- Just one deposit, and the rest will be managed for you across the multiple banks.
Who could CashHub MultiBank be suitable for?
The CashHub is available to a wide range of customers.
Individuals and couples
Who’s included?
Individuals looking for a personal account or a joint account with their spouse or partner.
Providing a home for your short-term savings, such as funds you hold in case of emergencies, or where you’re saving for a rainy-day fund or that special holiday.
Businesses
Who’s included?
UK incorporated companies.
Optimise liquidity and the returns on your cash reserves and reduce risk by spreading your cash across accounts and maximising FSCS protection.
Trustees looking after money on behalf of beneficiaries
Who’s included?
UK registered trusts.
Earn better interest, easily compare and manage cash accounts in one place, and reduce risk by spreading cash across accounts and maximising FSCS protection.
Charities
Who’s included?
Trusts, unincorporated associations and CIOs.
Make donations work harder by optimising interest on cash, save valuable time by managing cash accounts in one place, and reduce risk by spreading cash across accounts and maximising FSCS protection.
How does it work?
Your money will be deposited across the participant banks depending on your balance in CashHub MultiBank, based on the tiered values shown below.
- Balances between £0 and £120,000 – Bank A
- Balances between £120,001 and £240,000 – Bank B
- Balances between £240,001 and £360,000 – Bank C
- Balances over £360,000 – Designated overflow bank
All interest is paid gross. Interest is calculated and added to your account within five business days of the first day of the month.
CashHub MultiBank accounts are included in our multi-member family discount, Family Linking. See our CashHub brochure for more information on how it works, and who is eligible.
CashHub MultiBank FAQs
The minimum contribution amount is £1 but there is an overall CashHub minimum of £1,000 for personal customers and £100,000 for organisation customers, such as corporates, trusts and charities.
Yes. There are various reasons why the tiered rates could change, e.g. a bank is added, a bank is removed, a partner bank changes their interest rate, a bank reaches capacity etc. CashHub MultiBank customers will be notified when the tiered rates change. This may not happen in advance as the savings products are currently base-rate trackers and the rates will change immediately when the Bank of England base rate changes. The tiered rates will not be amended until the Summary Box has been updated.
HSBC Bank Plc (FRN 114216), Lloyds Bank plc (FRN 119278), Santander Financial Services Plc (FRN 146003). Please see the Participant banks webpage for more information.
Yes. CashHub MultiBank is another easy access savings product you can choose from and you can have other savings accounts alongside it.
This works in the same way as any other easy access savings account in CashHub and money will normally be in the your bank account on the next working day after a withdrawal request. The maximum online withdrawal is £75,000. You will need to contact Quilter for withdrawals above this amount.
The excess payment will go into an overflow bank, which will pay the same interest rate as one of the tiers. There could be one or more overflow banks. Quilter must give permission for the overflow bank to be changed and Bondsmith must provide a notice period to the customer prior to the overflow bank changing.
The CashHub, powered by Bondsmith
CashHub MultiBank sits within the CashHub – an award winning cash savings solution. The CashHub provides access to a curated marketplace of savings accounts, from a range of providers, offering competitive interest rates on cash savings.