Account opening is as easy as sending us an email or booking a video call.

Your funds are protected with layers of trust, segregation, safeguarding and even supported up to the FSCS limit in addition.

We open an account for you, as your bare trustee, at the Bank of London, which in turn deposits your funds liquid and unencumbered at the Bank of England.

Accounts can be opened by UK entities, UK and EEA Nationals and UK residents.

Acting as your bare trustee, we open accounts in your name at the Bank of London which, in turn, deposits them liquid and unencumbered at the Bank of England. Funds are protected by incremental layers of being held on bare trust, segregated and safeguarded, and with no underlying bank credit risk.

For your convenience, your account is set up to auto-renew. You agree that we may deduct your annual charges / membership fee from any balances held with us.

The minimum deposit amount is £1,000,000.

We don't operate with the high costs of running a bank. Our role as trustee allows us to pass on much more of the base rate.

The interest on our accounts is set by the Bank of England, whereas ns&i can only pay what the Government permits.

Yes, for at least 3 months we require a balance of £1 million+.

Subject to all of the usual compliance checks, we can open accounts in as little as 24-48 hours.

As your funds are safeguarded, they will not be available to the Bank of London's creditors. They will still be yours, and we will get them back for you.

The Bank of London doesn't serve private clients or charities directly.  For corporate customers, by virtue of our buying power with the bank, we are able to offer better rates and fees than they offer to the public.

We keep 10% of the interest you earn.

In order to be able to open an account, we will need to carry out the usual Know-Your-Client, source of funds and source of wealth checks.

There is no fixed maximum amount. We will agree a maximum amount with you as part of your onboarding, and review this periodically as your circumstances evolve.

As part of our regulatory registration, and our Certified B Corporation status, there are certain sources of wealth that we are unable to work with. If you are unsure of how to categorise your source of wealth, or have more than one, please do contact us or book a video call to discuss.

At present, we can only open accounts in pounds sterling.

‍

In principle, yes, though subject to the Scheme's own eligibility criteria.

Your funds are held at the Bank of England, through our tech partners the Bank of London.

In theory, before a central bank would become insolvent, it would be able to print more money. This makes the eventuality not only very unlikely, but probably impossible.

Once you have onboarded with us, we will provide you with account details to transfer money into your accounts.

‍

As part of our regulatory registration, and our Certified B Corporation status, there are certain jurisdictions that we are unable to work with. If you are unsure of how to categorise your jurisdiction, or have more than one, please do contact us or book a video call to discuss.

‍

Please do contact us if you have any further questions or would like any further information.

Yes. We'll provide you with frequent statements and updates on the interest you have earned on your account.

Your interest accrues daily and is paid monthly. On fixed-term 12-month accounts, your interest is returned with your principal sum.

‍

For notice accounts, we will return your funds as soon as the notice expires.  For fixed-term accounts, we will contact you in advance to seek your instructions.

The Bank of England will pay less interest to the Bank of London, who will pass on less to you. An drop in the base rate will automatically lead to an decrease in your returns.