Round-Up Account Terms and Conditions

Choose to round up your spending to the nearest £1, and we’ll autosave the difference for you in a round-up account. Then, we'll give your round-up balance a 5% AER (4.89% gross) variable interest boost.

Things to know about the account:

  • you can’t make payments into the account other than through round-ups on debit card payments;
  • you can only withdraw money by transferring funds to other accounts held with us or other UK banks;
  • you can’t make debit card payments, set up Direct Debits or standing orders, or have an overdraft; and
  • you can’t spend directly from the account.

These terms add to the General Terms and Conditions. If there's a conflict between any term in the General Terms and Conditions and one here, then the terms here will apply.

You can find a copy of these terms and the General Terms and Conditions in the app.

Other things to be aware of

About the account: The round-up account will accelerate your savings on round-up payments when you're using your debit card for normal payments for everyday goods and services. We'll pay interest at a rate of 5% AER (variable) per annum.

Annual transfer: We’ll transfer any funds (including interest) in the account to an account of your choosing annually.

If you close your other accounts: You must have at least one account (in addition to the round-up account) open at any time to continue to hold the round-up account.

We'll close the round-up account and transfer any funds (including interest) in it to you when the last of your other accounts held with us is closed.

You may only hold one round-up account at any time.

Closing the account: You can close the round-up account at any time without charge, in addition to any statutory cancellation rights you might have. We'll transfer any funds held in it (including interest) to you.

AER and gross: AER is short for Annual Equivalent Rate and shows the interest rate for a year, taking into account any interest payments made during the year. The AER enables you to easily compare the interest rates on accounts from different banks/building societies where interest may be calculated or paid at different frequencies/times.

Gross is the interest rate used to calculate your monthly interest payments, before tax.


Your deposit is eligible for protection by the Financial Services Compensation Scheme (FSCS). The information sheet and exclusions list are available to view in the app. For further information about the compensation provided by the FSCS, refer to the FSCS website at (Opens in new window)