HOW AN ACTIVE SAVINGS ACCOUNT WORKS

Charges

We do not charge any fees for opening, managing, or closing our savings accounts. Instead, we charge our banking partners. This means the same or similar products offered directly by the banks and building societies may have different interest rates to those available on Active Savings.

How we protect your money

How we protect your money

FAQ's

• Who is eligible to open an account?

  You can only open an account in the name of an individual aged 18 or over.

  You can't apply for an account if you live overseas or aren't a UK resident for tax purposes. Unfortunately, we can't offer joint accounts or those for children or companies.

• What bank account can I withdraw to?

  You'll need a nominated bank account. This is where any withdrawals from HL will go. You usually set one up when you first open an account with us, but you can set one up in your account settings if not.

  We will send a verification code in the post when you set up or change a nominated bank account. Make sure you factor this in when considering timescales for your withdrawal.

• What happens when my fixed rate matures?

  If you have money in a fixed rate, you can pick an easy access product as your default product. That means, when your fixed rate matures, the money will move automatically to your default product to continue earning interest. If you do not have a default product, the money will move to the cash hub.

• How long does it take to withdraw from my Active Savings Account?

  In the Active Savings Account, it takes up to one working day to withdraw cash from an easy access product to the cash hub. To withdraw from the cash hub to your bank account takes up to one working day.