Rates are subject to change or withdrawal and are shown gross of Flagstone's Annual Management Charge, illustrating what the interest rate would be before the management fee is deducted. Rates correct as at 27 September 2021.
For Fixed Term Deposit Accounts, interest is paid at the end of the term. For details of how interest is paid on Instant Access Accounts and Notice Accounts, please refer to the Terms & Conditions for the specific account available on the platform.
The Flagstone platform is available to individual and joint applicants who are resident in the UK and 18 years of age or older. Accounts are also available to UK-registered companies, charities and trusts (including SIPPs and SSASs). The minimum amount required to open a Flagstone account is currently £50,000 for individual and joint applicants, and £250,000 for companies, charities and trusts.
Dependent upon whether you are an individual, looking to open a joint account, or acting on behalf of a company, charity, trust, SIPP or SSAS; different banks, accounts and rates will be available to you on the platform. The number of accounts available to clients may also be reduced dependent upon their domicile, residency and other factors.
To receive a personalised illustration for your deposit, use our online illustration tool.
Our illustration tool will show you how you can 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.
Due to the volume of deposits we intermediate and through the relationships we have developed with our partner banks, we are able to access exclusive and best in class deposit rates for Flagstone clients.
Some of our best interest rates are exclusive to Flagstone clients and are not available in the market or on comparison websites. For this reason, we only share the information on the rates offered by each bank with our clients on the platform.
With Instant Access Accounts, you can deposit and withdraw your money at any time.
With Notice Accounts, you can withdraw your money in the future, by giving notice to the bank. For example, 30 days' notice means you would give the bank notice and withdraw your funds 30 days later.
A Fixed Term Deposit Account has a specific term (e.g. 3 months or 12 months). Once a Fixed Term Deposit Account is open and funded it cannot be broken until the end of the term.
This means that your cash is locked up in the account for the full length of the term, after which it automatically returns to your Hub Account with the interest that has accrued on the deposit.
All UK based banks and building societies on our platform are members of the Financial Service Compensation Scheme (FSCS). This means deposits held with them are eligible for FSCS protection. This allows you to protect your savings by spreading your cash across several banks or building societies and receive the FSCS protection of £85K each time (£170K for joint accounts).
Flagstone charges a fee of between 0.15% and 0.25% p.a. based on the total value of a client’s account.
Additionally, a one-off Administration Fee is charged to set-up a new client account on the platform. For individual and joint applicants depositing between £50,000 and £249,999, this fee is £150. For individual and joint applicants depositing £250,000 or more on the platform, and for companies, charities and trusts (which require a minimum deposit of £250,000 to open a platform account) the Administration Fee is £500. For US Dollar accounts this fee is $500 and for Euro Accounts it is €500.