How our platform works
As the leading cash deposit platform in the UK, we provide your clients with access to greater protection for their money.
Secure, grow and manage your client's cash - quickly and simply
Your client opens their single Flagstone account, supported by our expert and trusted client service team. No need to complete paperwork for multiple banks.
Client transfers funds from their bank to their Flagstone account (minimum £50K deposit required for individuals, £250k for organisations).
Our platform provides access to hundreds of accounts from up to 60+ banks – enabling clients to maximise interest and FSCS protection, if eligible.
Your client can meet changing needs, plans and aspirations with complete visibility of their entire portfolio and access to their money.
All UK-based banks and building societies on our platform are members of the Financial Service Compensation Scheme. Your clients' eligible deposits are protected up to £85K for each individual bank account opened or £170K for each joint account.
More infoOnce your client's deposits mature, funds are returned to their holding account and can then be withdrawn to their own bank account at any time.
Simple cash management
Opening an account
The Flagstone platform is available to individual and joint applicants (aged 18 or older) looking to deposit £50K or more. And to companies, charities and trusts (including SIPPs and SSASs) with £250k or more to deposit.
- Basic personal details including employment status and address history.
- Tax status including National Insurance number or your Tax Identification number (TIN) where relevant.
- Information about the source of funds you wish to deposit.
- Details of a UK mainland bank account ('nominated account') you wish to deposit from and have funds returned to.
- For joint applications, you must have the permission of the second applicant to provide us with their information.
- You may be required to provide copies of proof of ID, proof of address, or proof of source of funds after submitting your application.
Transferring funds
Once they are set up they transfer funds to their Flagstone holding account.
Your client's holding account is set up to receive and hold their funds before they are transferred to deposit accounts. Their holding account acts as the account to which all monies (principal and interest) are returned at the maturity of a fixed term deposit account, or when an instant access account or notice account is closed. Once the matured funds are deposited in your client's holding account, they may then withdraw them to their nominated account, or place them in another deposit account of their choosing.
The holding account will be provided by Barclays or HSBC.
Multiple accounts
After your client funds their Flagstone holding account, they can browse, open and manage as many savings accounts as they need, including instant access, notice and fixed-term.
Complete control
Your client is in control. They can manage their money - quickly and easily - via our highly secure Flagstone platform. They can place, spread and move their deposits - 24 hours a day, 7 days a week - with no additional applications to complete.
Peace of mind
Complete visibility of all your clients' money. View consolidated information across all of their cash savings accounts, including a single tax certificate at the end of the year. Clients enjoy protection of their money up to FSCS limits of £85K for each UK bank (£170K for joint accounts).
If you hold an eligible deposit with a UK-authorised bank or building society that fails, the FSCS will automatically compensate you.
More infoMake your clients' money work harder
Use our cash deposit calculator to see how much interest your clients could be earning, while spreading their deposits to maximise FSCS protection.
Frequently asked questions
Using our platform is simple. The client:
- Applies for one Flagstone account.
- Moves funds from their bank to their Flagstone account.
- Browses and chooses from hundreds of accounts – including exclusive and market-leading rates – on our online platform.
- Enjoys complete protection for their money – up to FSCS limits.
As the UK's leading cash deposit platform, the volume of deposits placed with us, and the relationships developed with our partner banks gives us access to exclusive and market-leading deposit rates for our clients.
All UK-based banks and building societies on our platform are members of the Financial Service Compensation Scheme (FSCS). This allows your clients to protect their savings by spreading their cash across several banks or building societies, and receive the FSCS protection of £85K each time (£170K for joint accounts).
All accounts on the Flagstone Platform are “segregated client trust accounts”. Our clients are individual beneficiaries of this trust for the amount of money they deposit (plus interest). They are absolutely entitled to this money. As an individual beneficiary, a client’s money is eligible for FSCS protection, provided that the client is eligible. In the unlikely event that there is an issue with one of our partner banks, Flagstone would carry out the FSCS claim on behalf of its clients.
Our platform provides immediate visibility of all your clients' money, including consolidated information across all of their cash deposit accounts, and a single tax certificate at the end of the year.
For individual clients, there are no admin or management fees to pay.
Rather than drain your savings with high fees, we use a ‘share of interest’ model instead. That means we take a small cut of our partner banks’ interest rates – up to 0.30%.
We deduct this before any rates appear on our platform – so the rate you see will always be the rate you receive.
For business and charity clients, there is an annual management fee of between 0.15% p.a. and 0.25% p.a. depending on the value of deposits you hold on our platform.
For deposits of £250k or more, a one time setup fee of £500 will be payable and automatically taken from your initial deposit. For US Dollar accounts this fee is $500 and for Euro Accounts it is €500. This admin fee applies to all company, charity and trust clients.
Peace of mind
FSCS protection
Industry-leading security
Join a network of leading referrers
With Flagstone, your clients can spread their cash across up to 60+ banks in one simple portfolio.
We are trusted by leading Wealth Managers, including St. James’s Place, Evelyn Partners, and Quilter Group, plus many of the UK’s leading banks and building societies.
Join Flagstone and protect the art of the possible.