Anyone Used Flagstone
Discussion
Came across these guys when looking for decent deposit rates, and the concept seems to be good https://www.flagstoneim.com/business/
Anyone had any experience with them?
Anyone had any experience with them?
Thanks all - very interesting.
Regarding their fees, it seems that they take them from the Banks - not us. Their website says:
[b]How does Flagstone make money?
For each savings account you open through Flagstone, we receive a small share of the interest (up to 0.30%).
We deduct that share before we feature any savings account on our platform – so the rate you see will always be the rate you receive.[/b]
So their advertised rates are net after the commissions. Considering that the advertised rates are higher than what I can get with the individual banks, that seems impressive. I applied for an account yesterday.
Regarding their fees, it seems that they take them from the Banks - not us. Their website says:
[b]How does Flagstone make money?
For each savings account you open through Flagstone, we receive a small share of the interest (up to 0.30%).
We deduct that share before we feature any savings account on our platform – so the rate you see will always be the rate you receive.[/b]
So their advertised rates are net after the commissions. Considering that the advertised rates are higher than what I can get with the individual banks, that seems impressive. I applied for an account yesterday.
So I opened an account. The things I like so far are:
1. Very easy to use.
2. Interest earned is accrued daily and shown on the account.
3. A good mix of instant access, notice and fixed term accounts.
4. The best savings rates for business I could find.
5. Their fees are deducted at source (not paid by me).
6. I've spread the risk over many banks up to the Govt backed £85k threshold, but see everything in 1 account.
1. Very easy to use.
2. Interest earned is accrued daily and shown on the account.
3. A good mix of instant access, notice and fixed term accounts.
4. The best savings rates for business I could find.
5. Their fees are deducted at source (not paid by me).
6. I've spread the risk over many banks up to the Govt backed £85k threshold, but see everything in 1 account.
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