What is the minimum amount I need to deposit to open a Cash savings hub?
The minimum amount you can deposit into a savings account is £1,000. However some saving accounts may have a higher minimum deposit amount, you can check this by reading the savings account’s fact sheet. The maximum you can save into savings accounts with any one bank is £85,000.
If you’re making a large payment into your Cash savings hub, it’s important to check whether your bank will let you do it in one go. Some banks have a maximum daily limit on Faster Payments. Please contact your bank for help with this.
You can also make a number of smaller payments into your transit account if you wish but the minimum deposit amount into a savings account is £1,000. Please remember that you don’t earn any interest on cash in your transit account.
- What is the make good policy?
- How does the Cash savings hub work?
- How do I find out my transit account sort code and account number?
- When can I close a notice account in my Cash savings hub?
- Why do I need to pay £1 into my Cash savings hub before I can fund it from my Dealing account?
- Will I have online access to my savings accounts?