Case Study: An extra £9k in interest plus FSCS protection

24th July 2015

Case Study: An extra £9k in interest plus FSCS protection

With rates changing frequently and impending changes to FSCS protection, more people have enquired about our cash management service to see if it is suitable for them.

Benefits of the service

  • Expert advice helping to identify the best accounts for your needs
  • Administrative assistance helping to complete forms and open accounts
  • Maximise interest
  • Benefit from FSCS protection
  • Be advised when rates change and action is needed

The following is a case study of a client we have recently helped.


Nigel and Marjorie are married and work as a Barrister and Head Teacher. Due to the nature of Nigel’s work he regularly receives significant cash sums.

The accumulated funds amounted to £720,000 which was held in two private bank accounts with Coutts and C. Hoare & Co. respectively.

The two accounts were paying a rate of interest of 0.15% and 0.20% and total interest earned was £1,190 per annum (before the deduction of tax).

Significantly, £550,000 of this money was exposed to risk outside of FSCS protection.


  • Ensure all funds were protected by FSCS protection
  • Maximise interest
  • Split funds between easy access and notice accounts
  • Minimise their personal input but desire to maintain total control of accounts.


Savings Champion split the funds over 6 separate accounts and increased total gross interest from £1,190 per annum to £13,145 per annum (£9,795 after our fee).

Importantly total funds were protected by the FSCS, with no one account having more than £170,000 deposited (held in joint names).

As you may be aware FSCS protection is changing (see article below) and at the appropriate time we will help Nigel & Marjorie ensure these changes are reflected in their portfolio.

Next Steps

If you have more than £100,000 in cash savings and would like to know more about our cash management service please call 0800 321 3581 or email [email protected]

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