Charities

Cash Deposit Accounts For Charities

How Flagstone can help your charity

Simplify Cash Deposits For Your Charity

We understand that it can be difficult to build and manage cash reserves for charities. 

Flagstone provides charities with a digital cash deposit solution to access multiple deposit accounts, easily and efficiently.

With market-leading interest rates from over 30 banks, your charity can earn more interest income and ensure its cash reserves are better protected. 

Open an account

Trusted and convenient cash solution for charities

Market leading rates

Unlock the best savings rates for charities with Flagstone. Compare and choose from instant, fixed term and notice accounts from multiple partner banks. US Dollar and Euro accounts are also available.

Simplify cash deposits

No more managing individual bank accounts for your charity. With one Flagstone account, access over 30 banks and exclusive cash products. Receive consolidated reporting for all accounts. Detailed fact sheets on all banks.

Protect your cash reserves

Spread your money across several banks and increase the value of your deposits that are eligible for FSCS protection and maximise the interest on your deposits.

Current charity rates on the platform...

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  • 5 year
    fixed term
    1.55%
  • 12 month
    fixed term
    1.05%
  • 95 day
    notice
    0.75%
  • 31 days
    notice
    0.65%
  • Instant
    access
    0.40%

Some of the banks we work with

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Charity client case study

8x more income
100% eligibility for FSCS protection

The charity was holding £340,000 with a single bank earning 0.05%. The trustees were keen to generate more income for the charity from its cash reserves and to safeguard the funds by minimising the risk exposure.

The charity's Finance Director used Flagstone to select deposit accounts that met the charity's liquidity needs. In just a few clicks they diversified the charity's deposits across six accounts with six different banks.

The charity is now generating 8x more income net of fees and 100% of its cash reserves are eligible for Financial Services Compensation Scheme (FSCS) protection.

As at 21/06/2021, FSCS covers £85,000 per eligible depositor, per authorised UK bank. 1. 'Excess cash': Cash not required for the day to day running of the charity. 2. Net of Flagstone's annual management charge of 0.25% of the value of the funds held on the platform.
Your UK cash deposits are eligible for FSCS protection

Frequently Asked Questions

  • Who can open a Flagstone account?

    The Flagstone platform is available to individual and joint applicants (18 or older) and also to companies, charities and trusts (including SIPPs and SSASs) to deposit £250,000 or more.

    Flagstone Accounts can currently only be opened for UK resident and domiciled clients.

  • What's the most and least I can save with Flagstone?

    The minimum deposit required to open a Flagstone account is £250,000.

    There is no maximum limit to the amount that you can deposit in your Flagstone account.

  • How long does it take to open a Flagstone account?

    For business accounts, once your application form and the required supporting documents have been received and processed, your Flagstone account should be ready within two hours.