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Wealthify partners with ClearBank to launch first savings account

By Gloria Methri

February 15, 2024

  • Aviva
  • Clearbank
  • Clearing Bank
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ClearBank, Embedded Banking, Financial Institutions, Wealthify, FinTech, Financial Services, Instant Access Savings Account, UKClearBank, the enabler of real-time clearing and embedded banking services, has partnered with digital investment platform Wealthify to launch its first Instant Access Savings Account.

The partnership allows Wealthify to provide this innovative savings account to its customers. The account tracks the Bank of England’s base rate and currently offers an interest rate of 4.91% AER /4.80% gross.

Founded in 2016 and backed by Aviva, Wealthify is an app and web-based wealth platform that in addition to its savings account offers a range of investment products, including Stocks and Shares ISAs, Junior ISAs, Self-Invested Personal Pensions, and General Investment Accounts—all of which are managed by a team of investment experts.

ClearBank does not lend, provide credit, or invest and all sterling client funds are held at the Bank of England. Eligible funds held in a Wealthify savings account can be protected by the FSCS up to £85,000.

“The way people save has evolved rapidly over the last decade. People want more from their money, and choices during different economic conditions, and we are thrilled to provide it to them. Wealthify’s savings account—powered by ClearBank—offers speedy setup, a great rate, and the ability to see savings and investments all in one place—a holistic view of your finances, at your fingertips,” said Andy Russell, CEO, Wealthify.

“We are delighted to announce Wealthify as an embedded banking partner and play our part in the launch of their new savings account. For wealth management experts like Wealthify, our embedded banking offering is an efficient way for them to focus on quality customer service, without spending unnecessary time and resources on licenses or outsourced projects,” said Charles McManus, CEO, ClearBank.

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