Savings accounts are just bank or building society accounts where you put money in, and earn interest on your savings. It's different from a current account because you can't do things like withdraw cash, spend on a debit card or pay bills. It's just a way to save your money, while getting a return on your savings. CDs are also known as Time Accounts because of the fixed term. My Savings Plan ® The online tool My Savings Plan ® for Wells Fargo savings customers helps. Features and benefits of Standard Savings Account are A low hassle savings account good for starting out; $25 minimum opening deposit; $4 monthly maintenance fee. Waivable with $300 minimum daily ledger balance 6 or $1,000 average monthly collected balance 7 or account holder(s) under age 18.
Why save with Monzo
A choice of competitive rates
We're creating a Savings Marketplace in the Monzo app. Pick from an ever-growing number of providers and competitive interest rates to suit your savings goals.
A new way to save
Add custom images to your Savings Pots to stay motivated. Round up transactions to add spare change to Pots automatically and schedule monthly savings deposits to stay on track.
Your money's protected by the FSCS
The money you put into Savings Pots is protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS).
The FSCS apply this limit to each person and to the total amount of any money you have with the provider, whether held through Monzo or not.
Please note, this means if you have separate accounts with our savings providers outside of the Monzo app, then the deposits held in those accounts will also count towards the limit of £85,000.
Save in a way that suits you
We’ve got different types of savings, and we’re adding more all the time. We talk about AER below, which means Annual Equivalent Rate. It shows you what the rate would be yearly if we paid interest on top of interest (which we do for easy access and fixed savings).
Easy access
High Interest Savings Account
Great for short-term savings goals, like holidays or a new bike.
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Easy access ISA
Save without paying tax on the interest you earn. What's an ISA?
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Fixed
Great for long-term savings goals, like a home or a wedding.
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Fixed Savings Account Fnb
More providers coming soon
We’re talking to new providers all the time to give you access to a wider variety of competitive rates.
Fixed Savings Account Meaning
Download the Monzo app on iOS or Android and join the people who've changed the way they bank.