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Shawbrook Bank Via Flagstone

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steelman99
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Shawbrook Bank Via Flagstone

#511682

Postby steelman99 » July 4th, 2022, 4:30 pm

Ive got a spare £50k for about 7 months , and Im looking to put it somewhere for a few months to get a bit of interest

Ive just looked round and Money Saving Expert has a link to a shawbrook account that pays 2% if opened via Flagstone (only 1.75%) if opened Directly.

Never Dealt with Flagstone and whilst MSE says the cash is protected whilst in Shawbrooks holding account which it says is with HSBC , then Shawbrooks FSCS protection one in shawbrooks account , the actual T&C for Flagstone dont mention HSBS , just they will provide a holding account which could be with anyone

Has anyone had any dealings with Flagstone ? also it says that the money is transfered from holding account to Shawbrook the next day , then the transfer from shawbrook to the holding account then back to me may take a few days - is the extra 0.25% interest going to be taken up whilt the ccash is in their holding account?

Stompa
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Re: Shawbrook Bank Via Flagstone

#511701

Postby Stompa » July 4th, 2022, 7:11 pm

Just a thought, but I wonder if it would be worth considering a 180 day notice account instead (giving notice shortly after opening). For example, this one:

https://www.dfcapital.co.uk/savings/notice-accounts/

offers 2% (variable), so I guess potentially the rate may increase during the 6 months. Mind you, I've never heard of DF Capital.

monabri
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Re: Shawbrook Bank Via Flagstone

#511706

Postby monabri » July 4th, 2022, 8:14 pm

Might be worth a peruse of Trustpilot reviews.

https://uk.trustpilot.com/review/www.flagstoneim.com

And

https://www.thisismoney.co.uk/money/sav ... stone.html


However!!

https://www.fscs.org.uk/check/check-you ... protected/

Flagstone appear to NOT be protected by the FSCS.


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