The bonus rate is fixed during the 12 month offer period. The standard rate is variable and may go up or down. There are a few reasons for this, such as a change in the Bank of England base rate. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. You can find a full list of reasons for an interest rate change and more detail about how we’d tell you about a change in the Instant Access Savings Account Terms (PDF, 409 KB).

To be eligible for this account, you’ll need to:

• Be over 18, UK resident and a UK tax payer.
• Have a UK personal bank account.
• Have valid Photo ID.
• Have a UK mobile number and your smartphone or tablet to hand.

If you need to manage your account, you can log into your account online at any time to make changes. If you need further support, you can do this by contacting us through web chat in the account interface, via email or by telephone. 

Payments in and out can only be made to and from your nominated account. 

You can only have one Instant Access Savings Account and it needs to be in your name. Joint accounts aren’t allowed.

The maximum balance that can be held within this account is £1,000,000. 

The minimum balance that can be held within this account is £0.

Yes, you can withdraw your money from this account at any time by moving the amount you want to your nominated account.

You can only withdraw up to £10,000 from your account in each transaction and £20,000 over a rolling 24 hour period.

If you close your nominated account you will need to set up a new nominated account in order to withdraw money.

Bonus interest – additional terms

The bonus interest rate will be added to the standard variable rate from the date your account is opened. This will apply for 12 months. After 12 months, the bonus rate will end and only the standard variable rate will apply.

We’ll give you 14 days’ notice in advance of the bonus rate coming to an end.

Annual Equivalent Rate (AER)

The interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest

Interest earned on interest that’s already been paid.

Gross Rate

The interest rate you are paid on your savings with no compounding.

p.a.

Per annum (per year)

Tax-free

We pay all savings interest without the deduction of tax. You may have to pay tax on interest earned depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.