3.80% INSTANT ACCESS SAVINGS ACCOUNT

There is no limit on how much to you can pay in to a Wealthify Instant Access Savings Account. However, consider that the UK Financial Services Compensation Scheme (FSCS) gives protection up to £85,000 across all your ClearBank products.

Clearbank Limited power our Instant Access Savings Account. All money held within our Instant Access Savings Accounts is sent directly to ClearBank, and is never held by Wealthify.

ClearBank are authorised by the Prudential Regulation Authority. They are regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.
Financial Services Register number: 754568
Registered address: ClearBank, Borough Yards, 13 Dirty Lane, London, SE1 9PA.

For more information, click this link.

Please note: correspondence regarding your Savings Account should be sent directly to Wealthify via our Live Chat service, email, or by calling us at 0800 802 1800.

No fee will be charged for the management of your savings account at Wealthify.

The current minimum deposit in a Wealthify Instant Access Savings Account is just £1.

The current maximum is unlimited.

Customers can only pay in and out of their savings account from their nominated bank account.

This includes manual bank transfers or one-off payments. You're also able to set up standing orders from your nominated bank account to make regular payments into your Wealthify Instant Access Savings Account.

You can find out more about the Bank of England base rate by following this link.

AER (Annual Equivalent Rate) calculates how much interest you earn over a year, taking compounding (the interest you earn on interest) into account.  AER is displayed on all UK savings accounts, and is a good way to compare rates.

Gross interest doesn't include compounding, and refers to the amount of interest paid to you without the deduction of UK income tax.

A VRP is a variable recurring payment. They are similar to Standing Orders, where you set up a recurring payment, selecting an amount and date that the payment will automatically be taken on.

VRPs can be taken any day of the week including weekends and bank holidays. Please note other methods such as Standing Orders are limited to weekdays.

We currently offer VRPs to be used for our Instant Access Savings Accounts (IASA) only. Other plan types may still require Direct Debits or Standing Orders instead.

You can indeed have both a VRP and Standing Order set up. However, if you have VRPs available then you will not see the screen to set up a Standing Order. Therefore, if you want to make use of both you will need to set up the Standing Order directly with your bank.

When doing so, you will need to use your savings account details that can be found on the ‘Plan Details’ section of your plan page.

Only certain banks are eligible to set up a VRP against our savings accounts. To check if you are able to set one up, you can use the below instructions to help get started!

On the Website

1. Open the website and sign in.
2. Click "View Plan" on your Instant Access Savings Account.
3. On the right of the page, you will see the option to set up a VRP.
4. Click this and follow the instructions on the screen.

On the App

1. Open the app and sign in.
2. Tap "View Plan" on your Instant Access Savings Account.
3. On the top right, tap "Plan Details" and then select the option to set up a VRP.
4. Tap this and follow the instructions.

You can use the below instructions to edit your VRP:

On the Website

1. Open the website and log in.
2. Click "View Plan" on your Instant Access Savings Account.
3. In the area for your VRP, click the "Edit" button.
4. Input the new information and click "Update”.

On the App

1. Open the app and log in.
2. Click "View Plan" on your Instant Access Savings Account.
3. Tap "Plan Details" and then tap the pencil that is in the area for your VRP.
4. Input the new information and tap "Update".

Unfortunately, not all banks are eligible to set up a VRP for use with your savings account. However, the list of eligible banks is subject to change, so yours may be able to use this feature in the future.

For the meantime, you are still able to set up a regular standing order! To do so, you will need to use the account details found in the ‘Plan Details’ section of your savings account to set this up directly with your bank.