CashHub FAQs

The CashHub is an online service distributed by Quilter and provided by Bondsmith, a financial technology company.

The CashHub enables you to:

• compare a selected range of savings accounts with competitive rates of return
• pay money in, withdraw money, and move money from one savings account to another
• view your cash savings alongside your Quilter investments using a single online Customer Centre login or on the Quilter app.

Your savings are held by the bank or building society who provide your chosen savings account/s, or temporarily in a ‘holding account’ as you move money into or out of a savings account.

Money in the holding account and the savings accounts of your choice is held in trust by Bondsmith Savings Nominees Ltd.

The CashHub is available to you if you:

• are aged over 18
• are a tax resident of the UK
• are not a US person (subject to US tax)
• have a UK bank account

Individual customers

Only the accountholder and their adviser can access the account.

Joint customers

For joint accounts, a lead account holder can be appointed at any time by completing the 'appointment of a lead account holder' form, which must be signed by both account holders. The lead account holder, along with their adviser, will have full access to the account. The other account holder will be limited to viewing the account values and interest earned.

The CashHub is intended as a home for your short-term savings, such as your emergency funds (recommended as 3 x your monthly income) or where you are saving for a specific goal or item that you can't take any investment risk on. You might have these savings elsewhere but they aren't working as hard for you as they could.

This is different to our other products, such as our ISA or Pension, which are intended for your long-term investments to support your retirement and other similar goals.

Individual customers

You can access the CashHub via the online Customer Centre (OCC) or Quilter app.

If you are using the OCC, click on ‘Apply for CashHub’ at top of the screen, or ‘Learn more’ below the list of your accounts.

If you are using the app, select the menu tab and then 'Apply for CashHub savings', or 'Learn more' from any CashHub advert or promo card at the bottom of the account overview

After you've set up your CashHub account you’ll see your savings accounts and be able to access the CashHub on the 'My accounts overview' page of the OCC, or the 'Account overview' area of the app.

Joint customers

Your financial adviser will need to make your initial application for a CashHub account. You ‘ll then be able to access your account via our online Customer Centre and app where you can see your cash deposits. For joint accounts, only the lead account holder can top up accounts, move money or make withdrawals. A lead account holder can be appointed by completing the
'appointment of a lead account holder' form, which must be signed by both account holders.

If you are planning on moving money you should speak to your financial adviser first.

You’re not able to transfer money directly between your savings accounts and Quilter investments. If you have sought advice or are sure that you want to move your money you will need to complete separate transactions. First, request a withdrawal of your money to your bank account. Second, follow the steps to pay your money into your chosen savings or investment account. If you are paying into a CashHub savings account, please ensure the money is paid from your nominated bank account.

No, the CashHub is intended as a home for your short-term savings, that you might have elsewhere but that aren't working as hard for you as they could.

Our investment products offer a wide range of Cash/Money Market funds that offer diverse access to cash and cash like investments that can be used to provide low risk diversification within your investment portfolio.

We recommend speaking to your financial adviser about how you can get the best balance of risk within your portfolio.

There are three types of account available to you on the CashHub:

• Fixed term: an account that pays the same interest rate over a specified term. The rate of interest you earn is usually higher compared to other types of account.

Any money you deposit into a fixed term account is locked into the account for the duration of the term. Normally you cannot top up or withdraw before the end of the term (the maturity date).

Please ensure potential future financial needs are considered before depositing money in these accounts as you will be unable to access your money before the end of the fixed term.

Some banks may allow withdraws before the end of the term, but normally only in exceptional circumstances (such as severe illness) and this may incur a penalty fee. If you think you need to withdraw money before the end of the term, please contact us.

• Easy Access: these accounts offer the most flexibility with the ability to top up and withdraw savings as required. Withdrawal terms can vary by account and some accounts may have restrictions, such as how many withdrawals you can make in a year.

The interest rates on easy access accounts are normally variable, and therefore can go up or down while the account is open. For rate decreases you will receive at least 14 days advance notice.

• Notice accounts: a notice account gives freedom to withdraw money but unlike easy access accounts notice must be given and there is a set period (the notice period) before money can be taken.

The interest rates are normally variable, and therefore can go up or down while the account is open. For rate decreases you will receive advance notice of at least 14 days plus the notice period for the account.

Specific details of each savings account can be found in its Summary Box.

When you compare savings accounts on the CashHub, each account will have a summary box that gives you key information about the account. This is an FCA-prescribed template and will be in the same format for each savings account. It is important to read this information to ensure the account is suitable for your needs.

Opening a CashHub account

The minimum amount you can deposit to open a CashHub account is £1,000.

The savings accounts

The minimum amount you can deposit will vary depending on the savings account/s you choose and will be displayed on the comparison screen. This could be more than the minimum CashHub deposit of £1,000.

The maximum amount you can deposit will vary depending on the savings account/s you choose and will be displayed on the comparison screen.

When choosing your account/accounts you should consider that the maximum protection provided by the Financial Services Compensation Scheme (FSCS) is £85,000 per eligible depositor (£85,000 per each eligible depositor for joint accounts), inclusive of any amounts that you may hold with the bank elsewhere, not per savings account. You can find out more by reading: How is my money Protected?

Your financial adviser will need to make your initial application for a joint CashHub account. You ‘ll then be able to access your account via our online Customer Centre and app where you can see your cash deposits. For joint accounts, only the lead account holder can top up accounts, move money or make withdrawals. A lead account holder can be appointed by completing the
'appointment of a lead account holder' form, which must be signed by both account holders.

Individual customers

It doesn’t take long to apply for a CashHub account. After you’ve completed the basic application questions, passed the online identity verification, and transferred the money from your nominated bank account, your CashHub account will be set up straight away (subject to acceptance).

If Bondsmith (the provider of the CashHub) are unable to complete the identify check using the details provided, we will contact you via email.

Joint customers

Your financial adviser will need to make your initial application for a CashHub account. 

You‘ll then be able to access your account via our online Customer Centre and app where you can see your cash deposits, top up accounts, move money between accounts or make withdrawals.

If you are using the online Customer Centre, you can make a payment into a new or existing savings account by selecting ‘Payments in’ at the top of your CashHub overview page. If you are using the app, select ‘Account actions’, ‘payments in, ‘make a single payment’ then select the CashHub. Payments must be made electronically to the Bondsmith bank account details provided.

You can withdraw money from a savings account by selecting ‘Withdraw’ at the top of your CashHub overview page, if you are using the online Customer Centre. If you are using the app, select ‘Account actions’, ‘Withdraw money’, ‘Make a single withdrawal’, then select the CashHub.

From here you can select which account to make the withdrawal from and how much.

How long the withdrawal will take will depend on the type of savings account and will be confirmed on screen. Your withdrawal payment will be paid electronically to your nominated bank account.

Withdrawals can’t be taken from a fixed term account.

The maximum amount you can withdraw online is £75,000. If you want to withdraw more than this amount you will need to complete our withdrawal form.

Easy access account

Money withdrawn from an easy access account will normally be paid the next working day, but could take up to two working days.

Notice account

Money withdrawn from a notice account will normally be paid the next working day after the end of the notice period, but could take up to two working days.

When a fixed term account matures, the total value will automatically move to the holding account within two working days.

We will email you to let you that a confirmation document is available in the document section of the online Customer Centre or Quilter app.

You can then move the money from the holding account into your nominated bank account. This normally takes up to two hours, and no longer than the next day. Interest will not be paid on any money held in the holding account and therefore it is important to ensure you submit an application to move this money.

For joint accounts, only the lead account holder can move money. A lead account holder can be appointed by completing the ‘appointment of a lead account holder’ form.

Moving money is completed in two stages:

1. Moving the money from a savings account into your holding account
2. Moving the money from the holding account into another savings account

Select the ‘Move money’ icon from the ‘My accounts’ section of the online Customer Centre, or ‘Account actions’ section of the app.

From here you can choose to move all or some of your money into your holding account, and from which accounts.

After you receive notification that the money is in your holding account you can use the ‘Move money’ option to move the money from your holding account into one of your existing savings accounts, or a new account. You can repeat this process to move money into further accounts.

You can find full details of the steps involved here.

CashHub – cancellation or closure by you 

When you first apply for a CashHub account you have 30 days to cancel it. The 30 days begin from the date the email to confirm the account has been set up is sent.

After the initial 30 day cancellation period has elapsed you can close your CashHub account at any time.

If you hold money in a savings account with a notice period or fixed term, your savings will be returned after the notice period elapses or the fixed term account matures, at which point your CashHub account will also be cancelled/closed.

CashHub – closure by Bondsmith

In exceptional circumstances it’s possible for Bondsmith to close your CashHub account. You would be given a minimum of 30 days notice should this occur.

At the point of closure the total value of your account would be paid to your nominated bank account. However, if you hold money in a savings account with a notice period or fixed term, your savings will be returned savings after the notice period elapses or the fixed term account matures, at which point your CashHub account will also be closed.

Savings accounts

Easy access and notice accounts can be cancelled within 14 days of account opening.

Generally, fixed term accounts will not have cancellation rights. If you want to cancel a fixed term account, you will have to wait until the end of the term to receive your money.

Before you chose a fixed term account you should be sure that you can afford to lock your savings into the account for the length of your chosen term with no access until that term has ended.

The banks/building societies who provide the savings accounts on CashHub will vary over time. This is because Bondsmith monitor the marketplace and may change the savings accounts available to you to ensure:

• we continue to provide access to a variety of savings accounts with competitive rates of return
• the banks providing the accounts continue to meet the criteria for inclusion.

The current list of available accounts can be found by logging into the online Customer Centre or mobile app, or on our website.

This is the bank/building society account that you use to pay into the CashHub and to receive money from your savings account/s, either from a withdrawal or a maturity.

We can only accept a payment from, or pay out a withdrawal or maturity to, your nominated bank account.

Yes, you can change your nominated bank account by completing the ‘Change nominated bank account’ form.

The holding account is a temporary home for your money on the CashHub.

Any money you pay in will be held in the holding account before being deposited in your chosen savings account/s. Likewise, any money withdrawn, or money received when a savings account matures, will be paid into the holding account before moving to your nominated bank account.

Any money in the holding account is held in trust by Bondsmith Savings Nominees Ltd in a safeguarded bank account with HSBC, although in some circumstances it may be with ClearBank. Both are eligible for FSCS protection.

Important: because it is a temporary home for your cash you do not receive any interest from the holding account. Any interest paid on the holding account will be retained by Bondsmith.

These are savings accounts provided by banks that adhere to Islamic law (Sharia law), which prohibits the payment or acceptance of interest fees for the lending and accepting of money. Instead, it focuses on profit-sharing, joint venture agreements, and other lawful methods of generating returns.

Sharia-compliant banking products are structured to adhere to these principles, ensuring that all activities and transactions are morally and ethically sound in accordance with Islamic teachings.

Important: if you chose a Sharia account on the CashHub you may still see the word ‘interest’ used on some screens and statements. For Sharia accounts this refers to profit.

While Sharia accounts may be available on the CashHub, the CashHub itself is not Sharia compliant.

Sharia accounts do not pay interest and instead pay a share of the profits the bank anticipates earning from the funds they use in compliant business activities. The rate you earn on the account is expressed as an expected profit rate (EPR).

Yes, anyone can apply for a Sharia account. Their availability is not restricted by religion or belief.

Sharia accounts are often seen as a more ethical banking option, as Sharia banks do not lend money to companies involved with alcohol, tobacco, or gambling, for example.

Interest is accrued daily and paid according to the terms of each savings account. Please check the summary box for each savings account for more information about interest is paid. Please note the interest rates displayed are net of any payments made by the bank to Bondsmith and Quilter.

AER is the Annual Equivalent Rate. This shows what the interest rate would be if it were paid and compounded once each year.

This indicative rate is applied to all savings products in the UK, helping you compare interest rates across different products.

Gross is the rate paid on the account before tax is deducted. This may be paid/compounded at a different frequency.

AER is illustrative and assumes annual compounding. The actual gross interest rate on the savings account may be different.

If the gross interest rate is paid at maturity, then the gross rate could be higher than the AER.

Interest for term products shorter than 12 months is calculated pro rata.

All interest is paid gross of any tax.

We issue a tax certificate each year and the interest earned on any CashHub savings will be included in this.

You are responsible for ensuring you pay the correct tax due on any interest received, taking into account your Personal Savings Allowance and personal circumstances.

Variable rates

Some easy access and notice accounts will have a variable rate of interest. This means the rate of interest you receive could go up, or down, while you hold savings in the account. You’ll be notified before a rate decrease and usually shortly after a rate increase to one of your easy access or notice accounts.

Some accounts track the Bank of England base rate and the interest you receive can therefore go up or down when the base rate changes. Depending on the account the interest may follow the same base rate or have a fixed difference above or below the base rate.

• Easy Access: interest rates can change anytime. For rate decreases you will receive at least 14 days advance notice.
• Notice: interest rates can change. For rate decreases you will receive advance notice of at least 14 days plus the notice period for the account.
• Base rate tracker: interest rates can change immediately. You will be notified after the change.

Sometimes instead of changing an interest rate on an existing savings account a bank will launch (also known as ‘issue’) a new savings account with a new rate. The new savings account may have the same name as an account you already hold, but it is separate to previous issues of the account. The interest rate of the new issue doesn’t get applied to any existing issues of the account that you hold.

If you have a fixed term account, the interest rate will not change during the term of the account.

Bondsmith are the provider of the CashHub.

Bondsmith is a trading name of Bondsmith Savings Ltd. Bondsmith Savings Ltd is a provider of embedded savings and banking services to the wealth management and investment industry and is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011.

The CashHub is a ‘cash management platform’ or ‘savings marketplace’, an online platform which enable customers to deposit funds in savings accounts held with a number of banks or building societies.

Bondsmith Savings Ltd is registered in England and Wales, No 13223331. Registered office: 124-128 City Road, London, EC1V 2NJ.

Bondsmith is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 955601, for the issuing of electronic money.

Deposits placed through CashHub are held on your behalf in trust accounts at the relevant banks in the name of Bondsmith Savings Nominees Limited.

Bondsmith Savings Nominees Ltd is registered in England and Wales, No 13480386. Registered office: 124-128 City Road, London, EC1V 2NJ.

Your savings accounts: all savings accounts available on the CashHub are eligible for protection by the Financial Services Compensation Scheme (FSCS), subject to any exclusions for protection which may apply to a particular depositor, according to the eligibility or exclusions also provided by the FSCS itself.

Where FSCS protection applies to an eligible depositor, in the unlikely event that a UK bank should fail (and you lose your money) you won’t need to do anything. Your claim will be automatically processed and the FSCS will make a payment to eligible claimants as soon as possible.

Please note that for savings held through an online service such as the CashHub it may take up to a maximum of 3 months for compensation to be paid.

The holding account: any money in the holding account is held in trust by Bondsmith Savings Nominees Ltd in a segregated bank account. This is also eligible for protection by the Financial Services Compensation Scheme (FSCS).

Important: the maximum amount covered by the FSCS is £85, 000 per eligible depositor, per banking licence. For an account with joint account holders the maximum is £170,000. If you hold money in another account with the same bank/banking licence as one of the savings accounts or the holding account, either on or outside of the CashHub, this counts towards the total £85,000 (£85,000 per each eligible depositor for joint accounts) compensation available to you from that bank/building society.

Bondsmith: should Bondsmith fail, any money in your holding account is held in a segregated account (separate from company funds) and cannot be accessed by creditors of Bondsmith.

However, the insolvency practitioners could deduct their fees from money in the holding account if there are no other sources available. This cost would be borne pro rata by all clients.

By ‘depositor’ we mean an individual or a corporate, trust or charity accountholder.

You do not need to pay a fee or charge directly to Bondsmith or Quilter for your CashHub account.

Bondsmith are paid directly by the Savings Account provider.  This is up to 0.25% of the account values held with the Savings Account by the trustees. It is deducted from the interest rates before they are displayed to you so that the rate on the CashHub is the rate you will receive. Bondsmith will also retain any interest received on the holding account.

Bondsmith pay Quilter a distribution fee of up to 0.15%.

Reduction in platform charge

While it does not attract a Product/Service charge, the total amount of cash savings held in the CashHub is included in the combined value of your investments used to calculate the annual charge rate for the accounts and bonds on our platform. This could potentially reduce the overall platform charge.

If you have a question about the CashHub, the savings accounts or Bondsmith you should contact Quilter.

To be included on the CashHub the banks/building societies must meet the minimum financial strength criteria set by both Bondsmith and Quilter.

However, their inclusion does not constitute a recommendation or guarantee of their safety.

Before you apply for a savings account you should complete your own ‘due diligence’ to be sure that you are happy with the bank/building society that you have chosen.

Independent credit ratings provide a guide to the financial strength of a bank/building society, but please note that ratings are not always available and are not a guarantee. Where available, you can find the credit ratings in the summary box for the bank/building society. You can see the summary box when you are comparing the savings accounts.

For non-investment grade banks (those with a lower credit rating) the maximum amount you can deposit into a single account £85,000.

Yes, just like platform investments, the value of CashHub savings of any linked family member will help to reduce the percentage charged on your platform investments.

You can find out more about Family Linking on our website.

Please call or email us and our dedicated team will be on-hand to provide you with their full help and support.