Search our FAQs


About Us


Where can I find your full terms and conditions?


If you're an existing customer, your terms and conditions are saved in your account. Just log in and go to Messages. We'll also have emailed them to you when you opened your account.

If you're not a customer, you can download a PDF of our terms and conditions.


How are you regulated?


SmartSave is a trading name of Chetwood Financial Limited. Chetwood Financial Limited is a British bank authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), authorised under registration number 740551. You can check our authorisation on the Financial Services Register at www.fca.org.uk.

The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly.

All deposits with SmartSave, up to £85,000, are protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

You can find out more at:
www.fca.org.uk
www.bankofengland.co.uk/pra
www.fscs.org.uk


Who is SmartSave owned by?


SmartSave is created by Chetwood Financial Limited. Chetwood is a British bank focused on providing better, safer and fairer products for their customers.

Visit www.chetwood.co to find out more.


Can I have more than one savings account?


Our customers can only have one SmartSave savings account at a time. Each of our fixed term, fixed rate savings accounts provides our customers with a simple and secure way to save online at a great rate. Take a closer look at our Fixed Rate Saver accounts.


How is my money protected?


All deposits with SmartSave, up to £85,000, are protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

For more information, you can visit www.fscs.org.uk.


What is the FSCS?


The Financial Services Compensation Scheme (FSCS) is the UK’s deposit guarantee scheme.

The scheme protects all UK regulated savings accounts in banks, building societies and credit unions up to the value of £85,000.

Find out more about the FSCS.


When can I speak to someone on live chat?


Our UK based team are available through our SaveBot, live chat or email on Monday to Friday, from 8am to 6pm. Outside of this, we'll get back to you on the next working day.

Our SaveBot is new to SmartSave and whilst we’re testing out some of its features, it may not always be available. But don’t worry, you can still speak to our support team on live chat and email.

If you’d like to talk to us on the phone, we’ll call you back - so you won't ever have to wait on hold again. We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you the best rates possible.

If you’re a customer of ours, and you’d like to discuss your loan, please log in and click on the Get in touch page before chatting to us or sending us an email. This way, we’ll be able to share personal information with you safely and securely.


Where can I find your phone number?


Our UK support team are available through our SaveBot, live chat or email on Monday to Friday, from 8am to 6pm. 

If you’d like to talk to us on the phone, we’ll call you back - so you won't ever have to wait on hold again. We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you the best rates possible.


Where can I find a full history of your interest rates?


We have a page on our website dedicated to our historical interest rates.


Why don't you have a phone number?


If you’d like to talk to us on the phone, send us an email and we’ll call you back - so you won't ever have to wait on hold again. We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you the best rates possible.

Our UK support team are also available through our SaveBot, live chat or email on Monday to Friday, from 8am to 6pm. 


Why do you have a Barclays sort code?


When transferring your deposit into your SmartSave account, you'll notice that the sort code belongs to Barclays. This is simply because we hold our business account with Barclays.

This is nothing to worry about. All SmartSave deposits are protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
 

When will your interest rates change?


Once you’ve opened a savings account, your rate won’t change as it’s fixed over the term of your account. 

We might change the rates we offer to new customers from time to time, to make sure we’re always offering the best rates we can. 

You can always see our current rates on our homepage and for transparency, we also post all of our historical interest rates.


How can I call someone from SmartSave?


If you’d like to talk to us on the phone, send us an email and we’ll call you back - so you won't ever have to wait on hold again. We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you the best rates possible.

Our UK support team are also available through our SaveBot, live chat or email on Monday to Friday, from 8am to 6pm


When will your rates change?


So that we can make sure we’re always offering the best rates we can, our rates will change from time to time.

You can always see our current rate on our homepage and for transparency, we also post all our historical interest rates.
 

Who is Chetwood Financial?


SmartSave was created by British bank, Chetwood Financial. Chetwood is focused on providing better, safer and fairer products for their customers. You can visit www.chetwood.co to find out more or check our authorisation on the Financial Conduct Register.

During your 14 day deposit window, you must transfer your funds using the payee name ‘Chetwood Financial Ltd’, as well as the other payment details we provide i.e. sort code, account number and unique savings reference number. You’ll be able to see these details on the Overview page when you log in. 


How do I complain?


If you have a complaint, we want to hear it, so please get in touch. Our expert team will review your feedback and come back to you as soon as possible.

For more information on how we handle complaints, you can read our Complaints Policy.

If you're not satisfied with our response to your complaint, you can refer your complaint to the Financial Ombudsman Service (FOS). Please note, that the FOS will not look at a complaint until it has been raised with SmartSave and we've been given a reasonable time to respond. 


Do you offer ISAs?


No, we offer fixed term, fixed rate savings accounts.

Since 6th April 2016, the new personal savings allowance (PSA) was launched. This means you can save tax-free outside of an ISA account. Basic 20% rate taxpayers can earn up to £1,000 interest a year without needing to pay tax on it, higher rate taxpayers (40%) can earn up to £500 interest a year, without paying tax. Top rate taxpayers (45%) always pay tax on savings.

Take a closer look at our savings accounts.


What is the difference between an easy access account and a fixed term savings account?


A fixed term savings account effectively locks your money away for a fixed amount of time.

At SmartSave, you have to put the whole amount that you want to save in up front, and you have to fix it for a minimum of 12 months. You tend to get a better rate on fixed term savings accounts, but you need to be confident that you won't need your savings within your fixed term.

Easy access accounts, in contrast, allow you to take your money out as and when you need it.


What is AER?


‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products.

It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of how often the interest is paid and whether it's added to your savings balance. 

At SmartSave, interest is calculated daily and added to your online savings account annually. Your total savings balance (including interest) will be sent back to your nominated current account on your maturity date. 

If your fixed term is longer than one year, the interest you’ve earned at the end of each year will be added to your savings balance and compounds annually. This means you’ll earn interest on interest, which is a good thing. If this results in your total savings balance going over the maximum balance of £85,000, any excess funds will be returned to your nominated current account as soon as possible. The remaining £85,000 will continue to earn interest for the rest of your fixed term.


How do I speak to someone from SmartSave?


You can get in touch with our UK support team through our SaveBot, live chat or email.

Our SaveBot is new to SmartSave and whilst we’re testing out some of its features, it may not always be available. But don’t worry, you can still speak to our support team on live chat and email.

If you’d like to talk to us on the phone, we’ll call you back - so you won't ever have to wait on hold again. We made the decision not to have a phone number, in order to keep our costs low so that we can offer you the best rates possible.

If you’re a customer of ours, and you’d like to discuss your loan, please log in and click on the Get in touch page before chatting to us or sending us an email. This way, we’ll be able to share personal information with you safely and securely.


View FAQ or get in touch

Have a question?

View our FAQs