SmartSave Bank partners with cash deposit platform Flagstone

By Gloria Methri

SmartSave Bank, the savings brand of UK digital bank Chetwood Financial, has announced a new partnership with cash deposit platform Flagstone.

Flagstone is one of the UK’s largest smart cash platforms for corporate, charitable, and individual clients. It offers a choice of banks and accounts, allowing customers to compare, manage and move deposits with ease to maximise returns and minimise risks.

Under the new partnership, SmartSave will make its fixed-rate accounts available to Flagstone clients while scaling up its deposit-raising activities via Flagstone’s broad distribution channels.

SmartSave allows users to open and manage their accounts entirely online and earn interest from day one, with transparency about when their term is ending.

Deposits made with SmartSave through the Flagstone platform can be opened and funded at the click of a button and are protected by the Financial Services Compensation Scheme up to a maximum of £85,000.

Andy Mielczarek, CEO and Founder of SmartSave, a Chetwood Financial company, “We are thrilled to be offering our market-leading SmartSave accounts through the Flagstone platform. In the current climate, where inflation is high and interest rates are still rising, ensuring that customers have access to competitively priced savings products that help them do more with their money is vital.

“We look forward to giving more people the opportunity to grow their savings, as well as making the most of Flagstone’s broad range of distribution channels to grow our own deposit base.”

Mark Hicks, Head of Bank Partnerships at Flagstone, said, “We are delighted that SmartSave has become the latest partner to join our platform. Flagstone has access to a wide range of distribution channels, and we look forward to utilising these channels to help SmartSave grow its deposit base.”