Once you open a savings account, your fixed term begins and you have 14 days to transfer between £10,000 and £85,000 from your nominated current account. Once your funds are deposited, you won't be able to withdraw the money for the fixed term.

If you don't fund your savings account with the minimum balance allowed, £10,000, during the 14 day deposit window, we'll close your account.

In exceptional circumstances we may consider an early withdrawal but we're not obliged to do so. Examples of what we consider exceptional circumstances include:

• Bankruptcy
• Insolvency
• Diagnosis of a critical illness

In circumstances like these, we may need evidence from you before allowing you to withdraw your savings early.

You can open a SmartSave Fixed Rate Saver account from our homepage .

Our online application should take just 10 minutes to complete.

It takes less than ten minutes to open a SmartSave account. We just need a few details about you, including the following:

• Your address details for the last three years
• Your National Insurance number
• The sort code and account number of the current account you'll transfer your deposit from

As a 100% digital bank, we use online electronic tools to verify your details.

When submitting your nominated current account details during your SmartSave application, it’s important you check that:
 

• Your bank details are correct
• The bank account is registered in your name and current address
• Your bank accepts faster payments

You have a total of three attempts to submit your bank details. If we haven't been able to match your details during your first attempt, you can try entering a different bank account as long as it fits the criteria above.

If we’re still unable to verify your details, it may be that your bank account is one that hasn’t adapted to the industry standard, that came into effect in 1998, where established banks share useful information directly with credit reference agencies (CRAs) and online financial services like ourselves. Some of the accounts that fit this criteria are listed below.
 

• Bank accounts opened before 1998
• Some of the private banks, such as Coutts
• Some of the new challenger banks

Our digital approach to saving allows our customers to manage their savings account completely online wherever they are but it also means we keep costs low so that we can continue to offer great rates. This does mean, however, that some customers won’t be able to open a SmartSave account, depending on who they bank with, as we mention above.

Unfortunately, if we can’t match your account then you won’t be able to open a savings account right now. We welcome more support from established banks to increase the number of accounts they share with us. Until then, we’re working hard to welcome even more customers to SmartSave.

In order to be eligible for a SmartSave Fixed Rate Saver account, you must be:

• At least 18 years old
• A UK resident only
• A UK taxpayer only

If you don't meet the criteria above, you won't be able to open a SmartSave account at the moment.

You can deposit up to £85,000 into your savings account as long as it is transferred from your nominated current account.

Your current account must be:

• In your name
• A current account, not a savings account
• Able to send and accept faster payments
• From a UK bank or building society

We don't offer ISAs or accept deposits from ISAs.

So we can keep your money safe and protect against fraud, you must transfer your money from the nominated current account you shared with us when you set up your SmartSave account.

If you transfer money from a different current account, we'll send the money back to you. This can take a couple of days to reach your account, depending on your bank.

We verify your identity online when you're opening a savings account with us. We do this through a number of electronic tools, one of which is by confirming your details through a credit bureau. As an online bank, it's really important that we're able to verify your identity before you open your account. If we can't verify your identity, you won't be able to open a SmartSave savings account.

In order to be eligible for our savings account, you must be:

• A UK resident only
• A UK taxpayer only

If you don't meet the criteria above, you won't be able to open a SmartSave account at the moment.

A UK resident is a person who:

• Has their main home in the UK
• Is registered with a medical practitioner in the UK
• Has been resident in the UK for 6 months out of the last 12

If you're a resident of any country other than the UK, you aren't eligible to open a SmartSave account at the moment.

Please note, the Crown Dependencies and Channel Islands are not considered to be part of the UK.

To keep your money safe and protected against fraud, we need two years address history from you to verify your identity when you're opening a SmartSave account.

You must be at least 18 years old.

To keep your money safe and protect against fraud, we verify your identity with Credit Reference Agencies, just to confirm you are who you say you are, when opening a SmartSave account.

We won't be performing a credit search and this won't affect your credit score.

We're sorry that you've not been able to open a SmartSave account right now.

This is usually because we weren't able to verify your information electronically. As an online bank, it's really important that we're able to verify your identity before you open your account.

We’re sorry we can’t help you reach your savings goal today. Keep us in mind as things may change and hopefully we'll be able to offer you an account in the future.

We ask for your National Insurance number when you’re opening an account with us, to make sure you’re a UK citizen.

In order to be eligible for our savings account, you must be:
 

• A UK resident only
• A UK taxpayer only

If you don't meet the criteria above, you won't be able to open a SmartSave account at the moment.

If you’ve lost your National Insurance number, you can find it at: https://www.gov.uk/lost-national-insurance-number

We're here to help you save the smart way.

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.

Or you can search our FAQs for more information.

We currently offer a 1, 2 and 3 Year Fixed Rate Saver account.

Take a closer look at our savings accounts.

The maximum amount you can deposit is £85,000. This means all of your deposit is protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

We don't currently accept applications under a power of attorney. We're sorry for any inconvenience this may cause.

The minimum amount you can deposit is £10,000.

Once you've opened your savings account, you have 14 days to deposit money from your nominated current account into your SmartSave account.

If you don't transfer the minimum balance of £10,000 into your SmartSave account within the 14 day deposit window, we'll close your account and send your deposit back to your current account.

You can manage your SmartSave savings account completely online. When you're logged in, you'll be able to see your savings balance and full transaction history on the Overview page.