That’s why we developed Octopus Cash.
Britain’s savers have it tough. As a nation, we've got £145 billion saved away in
savings accounts earning next to nothing (Source: FCA, 'Cash savings market study report', 2015).
That's a lot of lazy money. But switching accounts regularly may seem like too much hassle for too little reward.
We think something’s got to change. Octopus Cash is our fixed-term savings service that could help to take the stress out of finding a better home for your savings.
We work with some of the UK's leading challenger banks to give you a top-tier savings rate. And, if you're after a fixed term account, you can forget shopping around for better deals, year in, year out: our fixed term service will automatically offer you our best new rate at the end of the term. It's one less thing to worry about.
Meanwhile, if you’re looking to make a large deposit, we’ll even spread your money across multiple banks to make sure more of it is covered by the Financial Services Compensation Scheme (FSCS).
Founded in 2000
£8.6+ billion assets under
Source: Octopus at 30 June 2017
Most companies don’t put their customers first. And when it comes to the things that
matter most to us in life, like financial security, health and wellbeing, that’s a big problem.
We set up Octopus back in 2000 to change this. We set out to build businesses where our customers would feel so strongly about what we did, and how we did it, that they would proactively recommend us to those they were closest to.
So far our approach is working. We’re changing the way people think about their savings, we’re building care homes, hospitals and schools you’d be proud to send your loved ones to, and we’re supplying hundreds of thousands of UK homes with renewable energy.
And there’s much more to come. We call it ‘a brighter way’. Changing today for a better tomorrow.
Did you know the average toddler asks 390 questions a day? Sadly, our gift for boundless
curiosity dims as we get older. But that’s not Octopus.
We apply the same inquisitive approach to every market we enter. Because when you question the way things are, you can start to make them better.
Find out more: octopusgroup.com/a-brighter-way/
8 different banks, one thing in common.
Like us, our partners create straightforward, rewarding products that put the customer first.
What happens when a Cambridge University college and a local pension fund join forces? You get Cambridge & Counties bank: a unique partnership between Trinity Hall, Cambridge and Cambridgeshire Local Government Pension Fund. Specialists in supporting the growth of small and medium size SMEs, Cambridge & Counties has received recognition for their savings accounts, including awards from MoneyFacts and Savings Champion.
OakNorth is the bank for entrepreneurs, by entrepreneurs. Created by entrepreneurs who were frustrated with how the large high street banks treated small and mid-sized companies, OakNorth creates bespoke loans for each borrower based on their specific needs, and completes the loans in days or weeks, rather than the months it takes at larger institutions. OakNorth has raised over £220m of deposits and was named the top challenger bank in the UK by IBS Intelligence in December 2016.
Established in 1878, Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. Its retail savings business, Close Brothers Savings, specialises in providing customers with simple and easy to use deposit products that offer consistently competitive interest rates.
Aldermore is an SME-focused bank which operates with modern, scalable and legacy-free infrastructure. Founded in 2009, we have grown significantly, posting our first year of profits three years after launching, establishing Aldermore as one of the leading alternative banks. We offer simple financial products and solutions to meet the needs of underserved Small and Medium-sized Enterprises (SMEs); across their business and personal lives, as well as homeowners and savers. We focus on specialist lending across four areas: Asset Finance, Invoice Finance, SME Commercial Mortgages and Residential Mortgages. Our lending activity is predominantly supported by the deposits we receive from Britain’s savers.
Metro Bank launched in July 2010 as the first new high street bank in more than 100 years. The revolutionary UK bank offers personal and business banking services, with a focus on providing unparalleled levels of service and convenience. Now, it serves over 1.5 million customer accounts across its network of 63 stores, recording £14.8bn in deposits and £13.1bn in loans (as at the 30th September 2018.)
B&C was formed in 2014 through the merger of two well-established British financial institutions, each regulated by the FCA; Church House Trust, a retail bank founded in 1978; and Ocean Capital founded in 2002. B&C is a privately-owned UK bank combining the skills of retail and corporate banking to support and finance its clients' aspirations. Inspired by the tradition of private merchant banks, B&C has a specialist approach to serving clients and extending loans. We meet the specific needs of each individual client in a way that leads to long-term relationships and trust by providing products to clients who may be underserved and whose requirements are not always met by the mainstream banks. We provide a range of savings and deposit products, mortgages for residential and commercial real estate clients and corporate advisory and lending services; all at competitive rates.
Shawbrook is a specialist UK savings and lending bank founded in 2011 to serve the needs of SMEs and individuals in the UK with a range of lending and saving products. We are a growing UK specialist bank that challenges the conventional approach of the mainstream banks, with our thoughtful and good-sense approach to the way we do business. At 31 December 2017 our total lending reached £4.9 billion and we have now raised more than £4.4 billion in customer deposits.
Teachers Building Society was founded in 1966 by the National Union of Teachers (now the National Education Union) to help teachers and other education professionals onto the property ladder, and to provide a safe haven for their savings. Today, we offer a wide range of mortgage options to teaching professionals as well as a variety of competitive savings options for individuals and for businesses which are available to all.
As a mutual organisation, we are run solely for the benefit of our members, not shareholders. This means that instead of paying dividends to shareholders, we invest our profits back into the products and services we offer, ensuring that our mortgage and savings rates are as competitive as possible.
We will continue to be an agile and mutual building society, know for our exceptional service and dedication to our members.