Octopus Cash
Helping savers and businesses find competitive interest rates for their cash savings
Octopus Cash
Helping savers and businesses find competitive interest rates for their cash savings
Octopus Cash helps savers get a better interest rate on their cash, without the hassle of regularly switching banks. We spread their money across multiple partner banks, which maximises the protection they get from the Financial Services Compensation Scheme (FSCS).
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Explore opportunities to earn with Octopus Cash.
Reasons to use Octopus Cash
Simple savings management
Savers can get set up with a single application and use one account to manage all their cash savings.
More FSCS protection for larger deposits
All our partner banks are fully regulated. Splitting large deposits across multiple banks offers increased protection.
Competitive interest rates
We work with some of the UK’s leading challenger banks to find savers a competitive interest rate.
No need to keep switching
At the end of the term, we automatically offer savers the best interest rate available from our partner banks.
Important considerations
No access before end of term
You should be aware that Octopus Cash is a fixed-term savings product. Savers won’t be able to access their deposits before the end of the term.
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.
Compare our accounts
Fixed-term accounts
We offer 6-month, 12-month, 18-month and 24-month fixed-term accounts.
• Savers get a fixed interest rate for the whole term.
• At the end of the term, we automatically offer the best available rate, making it easy to roll over.
• Interest is calculated daily and is paid at maturity.
• Available for individuals, businesses, charities, trusts, power of attorney, and court-appointed deputies.
35-day notice account
No fixed term. Savers can give 35 days’ notice to access their money at any time.
• The interest rate is variable, meaning it can go up and down. We give two months’ 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
Fees and charges
Savers pay no direct fee for using Octopus Cash.
Key documents
| Octopus Cash brochure | Download |
Get started with Octopus Cash
Create a client illustration using our interest rate calculator.
Get started with Octopus Cash
Create an account by filling out a short application form.
We’re here to support you
Need help with our new website, accessing live updates, or looking for general support? We’ll have one of our team give you a call.
Contact our team
Got a question?
Call us at 0800 316 2067