Managing savings is straightforward with Flagstone. The platform offers access to a wide range of savings accounts from over 60 banks and building societies through a single, user-friendly application. Flagstone simplifies the process of maximizing interest rates, ensuring fund security, and managing cash.
What is Flagstone?
Flagstone is the UK’s leading cash deposit platform, providing a broad selection of savings accounts from over 60 banks and building societies, all accessible through one login.
Why Open a Flagstone Account?
Opening a Flagstone account offers several advantages:
- Diverse Savings Accounts: Choose from a variety of savings accounts, including Instant Access, Notice, and Fixed Term accounts, with a minimum deposit of £10,000.
- Exclusive Rates: Access interest rates available through Flagstone that are not found elsewhere.
- FSCS Protection: Eligible savings are protected with FSCS coverage up to £85,000 per individual, per institution, or £170,000 for joint accounts.
- Centralised Management: Manage all your savings from a single platform, providing a clear view and control over your funds.
- Clear Fee Structure: Flagstone operates on a ‘share of interest’ model, where a small portion of the interest rate (up to 0.30%) is deducted before rates are shown. This means the rate displayed is the rate you will receive.
- Simplified Tax Reporting: Flagstone provides a consolidated view of your savings across different accounts. At the end of the year, you receive a single tax certificate to simplify tax reporting.
Account Types and Eligibility
Flagstone supports various account types:
- Individual & Joint Accounts: Available to UK residents aged 18 and over with a UK current account. The minimum initial deposit is £10,000.
- Companies, Charities, and Trusts: Accounts are also available for UK-registered companies, charities, and trusts (including SIPPs and SSASs). The minimum deposit is £100,000 for companies and £1 million for charities and trusts.
There is no upper limit for deposits, though individual savings accounts may have limits set by partner banks. Flagstone clearly displays the minimum and maximum deposit limits for each account.
How to Open a Flagstone Account
To open a Flagstone account, complete an online application and provide:
- Address history for the past three years
- National Insurance Number and/or TIN
- Details of your nominated bank account
Additional documentation, such as proof of source of funds and source of wealth, may be required to meet FCA regulations.
For paper applications, ensure both the application form and Engagement Letter are signed. Most online applications for individual and joint accounts are processed quickly, often within minutes, though additional information might be needed. Once all documents are received, accounts are typically opened within two working days. Business, charity, and trust accounts generally take two working days to open once the signed application and supporting documents are received.
Grow your cash with FlagstoneMake Your Savings Work Harder
Flagstone Reviews on Trustpilot
Flagstone has received positive feedback on Trustpilot, earning an impressive 4.5 out of 5 stars based on thousands of customer reviews. Users often praise the platform’s user-friendly design, competitive interest rates, and excellent customer service. The convenience of accessing a variety of savings accounts from multiple banks through a single platform is frequently highlighted, along with the exclusive rates available through Flagstone. The account opening process is consistently described as straightforward and efficient, making it easy for customers to manage their savings across different institutions in one place.
While there have been occasional reports of technical issues or customer service delays, these are generally viewed as exceptions to the overall positive experience. Customers especially value the security provided by Flagstone and the Financial Services Compensation Scheme (FSCS) protection on deposits. Flagstone’s proactive approach to feedback and ongoing improvements to the platform demonstrate their commitment to maintaining a high standard of service. Overall, Trustpilot reviews reflect Flagstone as a reliable and efficient savings platform that meets the needs of its diverse user base.
My Final Thoughts: Make Your Savings Work Harder with Flagstone
Flagstone is more than just a platform—it’s a comprehensive solution for those looking to make the most of their savings. With access to competitive rates, strong security measures, and an easy-to-use interface, Flagstone empowers you to take control of your financial future. Open an account today and experience the benefits of managing your savings through the UK’s leading cash deposit platform.
