Sidekick launches instant-access Savings Account for investors

By Gloria Methri

Sidekick, a wealth management platform for modern investors, has launched its new instant-access savings account. The account offers a variable interest of 4.34 percent annual equivalent rate (AER) on cash savings.

It provides customers with an additional one percent bonus for investing a minimum of £1,000 in Sidekick’s flagship investment portfolio over 12 months. This brings the total interest rate to 5.34 percent, currently one of the highest in the market.

The account is held with FSCS-protected partner banks, facilitated by Sidekick’s partnership with Bondsmith, a savings account aggregator.

The savings account, which is accessible to new and existing customers, can be opened within minutes and requires a minimum deposit of just £1.

Matthew Ford, Co-Founder and CEO of Sidekick, added, “Innovative cash management is a core proposition of a private bank, and in the spirit of Sidekick’s mission to unlock the financial advantages of the ultra-wealthy, we wanted to bring an attractive savings offering to the retail customer. We want to help our customers maximize their wealth potential. Offering a low-risk product with a high interest rate is just one of the ways we are helping our customers achieve this.”

Sidekick’s savings product offers customers instant access and next-working-day withdrawals. The interest accrues daily, with bonuses paid monthly into their Sidekick wallet, allowing them the flexibility to reinvest, save, or withdraw funds as per their needs.

Backed by trusted and regulated partner banks, the easy-access savings rate ensures peace of mind for depositors. Funds up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS), and customers can monitor their savings via the Sidekick app.