Are you getting the best interest rates from your bank? The market share for the top five UK banks is a staggering 82.6% while there are over 150 banks taking deposits in the UK. According to recent research UK SMEs have an average savings balance of £556,000 and the majority of this money is earning little or no interest.
IS YOUR CASH EARNING INTEREST?
Would your organisation benefit from improved return and diversification
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CASE STUDY
Companies
A savings product that stays ahead of the market
You’ll benefit from:
The best interest rate
For your cash according to your term requirements.Cash moved securely
Moved within the UK banking system and always held in your name.No disruption
No need to move your current banking relationship.Regular review of the whole-of-market interest rates
Ensures that you get the best available rates.Peace of Mind
More time, safe in the knowledge that your cash is taken care of.A variety of term options
Keeping your funds as liquid as you need them.
Every business needs access to cash savings.
Every business needs access to cash savings and at the same time should get good returns on that cash. We can help by taking away all the hassle of moving your cash to sourcing the best interest rates, with the added benefit of FSCS protection*.
Would your organisation benefit from improved return and diversification without having to change your primary banking provider? Simply sign up and we’ll do all the legwork for you. Need more information? Read the FAQs
Which banks are used?
More and more banks are joining the virtual high street. This means that even with historically low interest rates, there is competition and we can get the best rates for your business. The banks we work with have a proven track record for financial strength, low administration costs and premium interest rates.
Average Interest Rate
The average interest rate for the top five banks is 0.20%. The average for the top five rates available to our clients is 1.1%. That’s more than five times the amount you could be earning.
Guides
Get more information on relevant topics and insights on the Fintech and Banking industry that relates to your cash savings.
How it works
Our single sign in process makes depositing your money easy. Click here to see how it works.
Companies FAQs
Do I have to change my current day to day banking provider?
No, there is no need to disrupt your current banking relationships in any way. Your Cash surplus can be transferred from your current account to or from the Insignis hub account via the secure Insignis platform.
It’s a reasonable proposition but it won’t make me enough money to be worth my while?
Providing a solution for your cash gives you far more than a financial reward. The cash in the portfolio is diversified from a counterparty perspective (not having all your eggs in one bank) and can be allocated to provide for your liquidity needs and preferences. You also save the time and effort of doing this yourself.
Do you guarantee the best rates on the market?
Our unique solution allows clients to sign one set of paperwork, and pass Anti Money Laundering checks just once and then all accounts are opened for them. We guarantee to provide competitive rates over the long term and will keep you informed as rates rise and fall.
What reporting do you offer?
You can create a pdf of your portfolio via the digital platform. You can also view and download in pdf format a consolidated interest statement and real-time summary of all cashflows.
Why are you different from other Cash Management services?
Our value sits in the banking relationships we have established to complete the process fully with a one signature solution ensuring the entire process is handled by us with our intuitive website keeping you fully informed.
In the current interest rate environment is there enough value in doing this?
Higher interest rate environments tend to coincide with higher inflation figures so the net benefit to the client is often the same.
With so many non-High Street brands offering competitive rates, it becomes challenging for individuals to keep on top of where the best rates are being offered.
What do you mean by whole of market?
We receive a daily feed from Moneyfacts of every savings and deposit account available in the UK. In addition, we receive some other account rates directly from our banking partners. We review all this information, also taking into account how easy it is to do business with the institution and their customer service record. This allows us to select a panel of banks and accounts which we will use for our clients.
How do we know you won’t run off with our money?
All client money remains in our client’s name at all times. Even when you make your initial deposit it is held in a client portion of the Barclays account, in the business’ beneficial name. We have robust technology backed procedures, like those used by solicitors when a house is bought.
Full details are available in our ‘Security of Deposits’ document.
What cash can I deposit in your solution?
This service is ideal for any cash savings a business holds. This includes retained earnings or your latest investor funding round.
I am interested, what are the next steps?
Simply contact us, we will arrange for a member of the team to visit you at a time and place convenient to you. We propose to complete all necessary documentation in a single session to minimise the time and hassle to all our clients.
*What about the FSCS Protection Eligibility?
This provides an indication of potential cover. Deposit protection by the Financial Services Compensation Scheme (FSCS) is subject to the deposit eligibility. Details can be found at https://www.fscs.org.uk/what-we-cover/
