Payroll Savings is designed to work alongside your existing methods – not replace them. It’s an easy, set-and-forget way to build up savings straight from your pay, with high interest rates and no need to move money around. Think of it as an effortless top-up to your financial routine.

We only collect the essential information needed to set up and manage your savings account, such as your name, date of birth, address and payroll deduction amount. This data is securely shared with our banking partner to open and maintain your FSCS-protected savings account. Your personal data is never shared or used for marketing purposes without your consent.

Your employer only sees your payroll deductions each payday, but never your savings balance. They do see the total balance across all employees using Payroll Savings (this is to see the positive impact on financial security across the business). Your individual balance amount is private and not shared with your employer.

Your savings are held with a regulated UK bank that’s part of the Financial Services Compensation Scheme (FSCS), which protects eligible deposits up to £120,000. Your money is safe and secure – just like it would be in a traditional savings account.

Yes. It’s your money – withdraw any time, no penalties or hoops to jump through. Just log in to your savings account and select the amount you want to withdraw: the money will reach your current account by 6pm the next working day.

No problem. You can pause your contributions or stop at any time. You’ll still have access to your savings pot and can withdraw your money whenever you need it. If you want to close your account, we’ll make it happen securely and transfer any remaining funds, including interest earned.

This depends on how your employer handle this.

If you maintain access to the Payroll Savings app:
Your savings account remains yours. If you leave your company, you can continue managing your savings through your payroll/benefits app or transfer your funds to another account. In some cases, you may also have the option to set up regular bank transfers to continue saving.

If you don’t maintain access to the Payroll Savings app:
If you leave your company, your savings account will be automatically closed. Your full balance will be automatically returned to your salaried account by 6pm the next working day. Any interested earned will be transferred at the end of the calendar month. You’ll receive a final statement confirming the closure and transfer of funds.

No fees, no charges. Everything you save is yours, plus interest.

No, Payroll Savings comes out of your pay after tax, just like if you moved money to a savings account manually. It won’t change your take-home pay or affect your tax.

We offer consistently high rates: better than most high street current accounts and many standard savings accounts. Unlike limited-time offers, our rates are designed to stay competitive so you don’t need to chase deals.

It’s completely up to you. You can start small: even £10 a month adds up over time. Most people on Payroll Savings save around £100 a month, but there’s no right amount.

You’re free to change or pause your savings whenever you like. The most important step is getting started and building the habit.

Try our savings calculator to see how much you could earn over time.