28-03-2025
Flagstone Review 2025
Flagstone is an FSCS-protected online savings platform on which savers can compare, open and manage as many accounts as they like in one place.
Must deposit at least £10,000
Higher rates may be available elsewhere
No ISA options
No smartphone app Open and manage unlimited savings accounts with a single sign-up
100+ exclusive savings rates from 60+ providers
All UK-based banks are eligible for FSCS protection
Flagstone is an online savings platform, which enables customers to browse, open and manage multiple savings accounts using one platform, with one password.
Flagstone has partnerships with more than 60 UK banks and building societies, allowing it to negotiate competitive rates for savers – many of which are exclusive to the platform.
Sign-up is free and savers can open as many accounts as they like with several different types on offer – more on this below.
Since its launch in 2013, Flagstone has helped UK savers place more than £15 billion into savings accounts. In 2024 alone, Flagstone clients earned more than £500 million in interest.
However, since Flagstone does not offer access to the whole savings market, more competitive rates could sometimes be available elsewhere. Does Flagstone charge fees?
Flagstone makes its money by taking a small share of the interest clients earn on savings accounts opened through the platform (up to 0.30%).
This share is already accounted for in the returns offered by Flagstone – so the rate you see is always the one you get. Besides this, there are no admin, management or platform fees for customers to pay. What kind of savings accounts does Flagstone offer?
Savers can open several types of account through the Flagstone platform: instant access – which allow savers access to cash at any time
which allow savers access to cash at any time notice accounts – which require savers to give notice before making a withdrawal, typically of between 30 and 120 days
which require savers to give notice before making a withdrawal, typically of between 30 and 120 days fixed term accounts – which mean savers forego access to their cash for a given period of time in exchange for a fixed rate of interest. Once the account is open, no additional deposits or withdrawals are permitted until the end of the term. Who can open a Flagstone account?
To open an account with Flagstone, you'll need to meet the following criteria: be at least 18 years old
be a UK resident
have a UK current account
make an initial deposit of at least £10,000. How to use Flagstone
To open an account with Flagstone, you'll first need to fill in an online application form. You will be prompted to enter some personal details as well as your email address and phone number.
Next, you'll need to deposit at least £10,000 into your Flagstone holding account, which can be carried out via bank transfer or online payment.
Once the deposit lands in your account, you can then browse more than 200 savings options, and spread your cash between as many different accounts as you like.
Flagstone will pass along your details to each bank on your behalf, so there's no need to make additional applications.
Once up and running, you can view your balances, make withdrawals (where permitted) and open extra accounts at any time.
If you've chosen a fixed rate account, your funds will land back in your Flagstone holding account once it's matured. From here, you can deposit the cash into a new savings product, or withdraw it to your linked current account. How is my money protected with Flagstone?
Every UK bank and building society that offers savings accounts through Flagstone is a member of the Financial Services Compensation Scheme (FSCS). This means money held with each provider are protected up to the value of £85,000 per client, per banking group should the platform fail. This doubles to £170,000 for joint accounts.
Flagstone's holding accounts – provided by HSBC – are also covered by FSCS protection. Is Flagstone right for me?
For time-poor savers, keeping track of multiple accounts and rates can become a hassle, so a platform such as Flagstone could offer a solution.
Its user-friendly interface allows savers to open, manage and monitor accounts with several different providers using a single username and password, and without the need to start an application from scratch every time you need a new savings account.
Through partnerships with banks and building societies, Flagstone can also help savers find competitive deals that might not be available elsewhere.
But, although it works with a wide range of providers, Flagstone does not cover the entire savings market. This means higher rates may be available elsewhere – especially given that Flagstone takes a small amount of interest from each account.
That said, with more than 60 partner banks, Flagstone does work with more of the market than any comparable platform (Raisin, Bondsmith, Hargreaves Lansdown Active Savings or Insignis).
It's also worth noting that cash ISAs, a type of tax-free savings account, are not yet available through Flagstone.
And for digital-first savers, Flagstone's lack of a dedicated mobile app could be a drawback.
Finally, savers with less than £10,000 to deposit will need to look elsewhere. What are the alternatives?
Flagstone could be a great fit for savers who want to open and manage multiple accounts with a single log-in – but it's not your only option. In our guide to the Best savings platforms, we explore a few alternatives and dive into more detail about how they work.
