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 £255k (£510k for joint applicants) for eligible savers
- You could earn up to double the interest compared with the average bank savings account (Source: Bank of England, average bank savings interest.)
- Just one deposit, and the rest will be managed for you across the multiple banks.
Who could CashHub MultiBank 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 £85,000 – Bank A
- Balances between £85,001 and £170,000 – Bank B
- Balances between £170,001 and £255,000 – Bank C
- Balances over £255,000 – 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.
