The Octopus Cash platform has now been switched off and can no longer be accessed.
The Octopus Cash platform is now switched off and can no longer be accessed.
Octopus Cash helped savers get a better interest rate on their cash, without the hassle of regularly switching banks. We spread funds across multiple partner banks, which maximises the protection they get from the Financial Services Compensation Scheme (FSCS).
IMPORTANT: The Octopus Cash platform will be switched off on 31st May 2022
Following our decision 2 years ago to permanently stop all new deposits into Octopus Cash, we are now taking the next step and switching off the platform.
No access before end of term
You should be aware that Octopus Cash has fixed- term and notice account options. Savers who select a fixed-term savings account won’t be able to access their deposits before the end of the term. Savers who require access to their deposits can use our notice account option.
Other accounts at partner banks
Only £85,000 of savings at each partner bank will be covered by the FSCS. If a saver currently saves or chooses to save with any of them in the future, money held directly at the banks will be covered ahead of money held with Octopus Cash.
Fees and charges
Savers pay no direct fee for using Octopus Cash. Octopus Cash takes a fee directly from our partner banks.
6-month, 12-month, 18-month and 24-month fixed-term accounts.
- Savers get a fixed interest rate for the whole term.
- Interest is paid at maturity.
- Available for individuals, businesses, and all entities
35-day or 95-day notice account
No fixed term. Savers can give 35 or 95 days’ notice to access their money.
- The interest rate is variable, meaning it can go up and down. We give the full term amount plus 14 days notice of any interest rate changes.
- Interest is calculated daily, and paid into the Octopus Cash account each month.
- Available for individuals and businesses.
Our partner banks
Contact our team
Got a question?
Email [email protected]