What is the minimum amount I need to deposit to open a Cash savings hub?

The minimum amount you can deposit into a savings account is £1,000. However, some accounts may have a higher minimum deposit amount, which you can check by reading the fact sheets.

If you’re making a large payment into your Cash savings hub, please check whether your bank will let you do it in one go. Some banks have a maximum daily limit on Faster Payments. You can make several smaller payments into your transaction account if you wish.

Alternatively, you can instruct your bank to make a CHAPS payment to your transaction account. Your bank will generally charge you for this service; please contact them to find out more and arrange the payment. CHAPS payments are usually received the same day, provided they are submitted within the bank's cut-off time.

Please remember that you don’t earn any interest on cash in your transaction account. The maximum you can save with any bank is £120,000 due to the FSCS rules.