How our share of the interest works for business accounts
We receive a share of the interest on each savings account you open through Flagstone (up to 0.30%). We deduct that share before we feature any savings account on our platform, so the rate you see will always be the rate you receive.
An example of our model
Say one of our partner banks wants to add a new savings account to our platform. The Gross interest rate on that account is 3.25%.
We’ll receive a small share of that interest (say 0.25%*), and display the Net rate on our platform. In this example:
You receive a Net rate of 3.00% (3.25%, minus 0.25%)
Flagstone receives 0.25%
*Our maximum share of the interest is 0.30%. But, for many accounts, it will often be lower.
Why save with Flagstone
If we receive a share of the interest, you might rightfully wonder: ‘why shouldn’t I go to the banks directly?’. Here are three reasons to save with Flagstone:
Exclusive & competitive rates
Because we help thousands of individuals, businesses, and charities transact billions in cash, banks are happy to offer exclusive and competitive rates to Flagstone clients.
So, even after we receive our share of the interest, we can still offer rates you won’t see anywhere else.
Your savings in one place
Multiple savings accounts mean multiple applications, and multiple passwords. With Flagstone, you can see all your savings in one platform, access your portfolio with a single password, and manage everything easily. Arrivederci, admin.
Total FSCS protection on your eligible deposits
With multiple savings accounts in one place, it’s easier to maximise your FSCS protection on eligible deposits (£85,000 per individual, per banking group).