During SmartSave’s launch, we're counting on your feedback to help us improve. Let us know your thoughts at [email protected].

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.


Can I have more than one savings account?


We don't offer more than one savings account to our customers at the moment. With our 1 Year Fixed Rate Saver, you can save up to £85,000. Take a look at our fixed term, fixed rate savings account.


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.


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


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, we pay interest annually, so you'll receive your interest at the end of your 12 month term.


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.


How do I speak to someone from SmartSave?


Our UK support team are available to answer your questions by live chat or email. If you'd prefer to speak to someone on the phone, you can fill in our online form and we'll give you a call you back.


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.


When will your rate change?


Our interest rates change from time to time but you'll always be able to see our current rate on our 'Savings' page.

The good news is that both new and exisiting customers will be offered the same great rate.

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


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


When can I speak to someone on live chat?


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

If you'd prefer to speak to someone on the phone, you can fill in our online form and we'll give you a call you back.


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. You can contact the FOS here.


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.
 

How can I call someone from SmartSave?


We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you a great rate. However, if you'd prefer to speak to someone on the phone, just fill in our online form and our UK based support team will always give you a call back.

We're also available on live chat or email from Monday to Friday, 8am to 6pm.
 

Where can I find your phone number?


We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you a great rate. However, if you'd prefer to speak to someone on the phone, just fill in our online form and our UK based support team will always give you a call back.

We're also available on live chat or email from Monday to Friday, 8am to 6pm.

Why don't you have a phone number?


We made the decision not to have an inbound phone number, in order to keep our costs low so that we can offer you a great rate. However, if you'd prefer to speak to someone on the phone, just fill in our online form and our UK based support team will always give you a call back.

We're also available on live chat or email from Monday to Friday, 8am to 6pm.
 

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.


Do you offer ISAs?


No, we offer a 1 year fixed term, fixed rate savings account.

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 1 Year Fixed Rate Saver.


View FAQ or get in touch

Have a question?

View our FAQs

We use cookies to help improve our customer experience. By continuing to use this site, you agree to our use of cookies.

Got it!