If you’re a UK business with unused cash sitting in your current account, the new Capital on Tap Business Savings Account offers a way to earn interest without locking up your funds. Backed by ClearBank, it combines instant access with a competitive rate and no fees.
Designed for business owners who prioritise flexibility, this account aims to make earning interest as simple as possible.
In this review, I’ll cover how it works, who it’s for, and whether it offers enough value to justify moving your surplus cash.
- Verdict: Is the Capital on Tap Business Savings Account Worth It?
- Capital on Tap at a Glance
- Capital on Tap Business Savings Account Pros and Cons
- Who Should Use Capital on Tap?
- Capital on Tap Business Savings Account Features
- Capital on Tap Business Savings Account Pricing
- How Does the Capital on Tap Business Savings Account Work?
- How Safe is Capital on Tap?
- Capital on Tap Customer Support
- Capital on Tap Customer Reviews
- Capital on Tap Savings Account Eligibility Criteria
- How to Apply for a Capital on Tap Savings Account
- Alternatives to Capital on Tap Business Savings Account
- Capital on Tap Savings Account FAQs
Verdict: Is the Capital on Tap Business Savings Account Worth It?
For small UK businesses with surplus cash and simple needs, this account offers a compelling mix of access, ease, and interest. The 3.74% AER (variable) is competitive, there are no fees or minimum balance requirements, and funds can be withdrawn the same day.
It’s now available without a Capital on Tap credit card, making it more widely accessible. If you do use the card, integration is smooth, but it’s no longer essential.
This isn’t a full cash management solution. There’s no support for pooled funds, automated sweeps, or multi-user access. Businesses with more complex requirements may need to look elsewhere.
But for straightforward savings with flexibility and FSCS protection, it’s a simple, effective option that will meet the needs of many small businesses.
Capital on Tap at a Glance
| Feature | Details |
|---|---|
| Interest Rate | 3.74% AER (variable), paid monthly |
| Access Type | Instant access – withdrawals within 3 hours |
| Minimum Deposit | £1 |
| Maximum Deposit | No cap |
| Fees | £0 monthly fee, £0 withdrawal fees |
| FSCS Protection | Up to £85,000 via ClearBank |
| Account Eligibility | No requirement to be an existing Capital on Tap Business Credit Card customer |
| Application Process | Online setup in minutes through an existing account |
| Account Management | Managed via the Capital on Tap app or online portal |
| Withdrawals | Unlimited, no notice period, back to nominated UK business bank account |
| Number of Accounts per Business | One savings account per business |
| Integration with Credit Card | Yes – linked to Capital on Tap card dashboard |
Capital on Tap Business Savings Account Pros and Cons
- Competitive 3.74% AER (variable) interest rate
- No monthly fees or withdrawal charges
- FSCS protection up to £85,000
- Instant access – withdrawals within 3 hours
- Start saving from just £1
- No cap on deposit size
- Seamless integration with Capital on Tap credit card
- Simple online setup with fast approval
- Interest paid monthly
- Fully managed via app or online portal
- Not available to financial services businesses (e.g. investment firms)
- Must have a UK business bank account in your exact legal name
- Variable rate can change with the Bank of England base rate
- New customers can’t open a credit card and a savings account at the same time
- No inbound payments from third parties (top-ups only via your own business account)
- Only one savings account is allowed per business
Who Should Use Capital on Tap?
Best Suited For
- Small UK businesses with surplus cash: If you’ve got money sitting idle in your current account, this is a smart way to earn interest without locking it away.
- Existing Capital on Tap credit card users: I think it’s ideal if you’re already using their card. Everything’s in one place, and it works seamlessly.
- Startups: With no fees and a £1 minimum deposit, it’s perfect for those just starting to build up savings.
- Businesses that value flexibility: You get full access to your money anytime, no notice periods, no penalties.
- Companies with basic savings needs: No fancy extras or long-term tie-ins. It’s a clean, no-frills way to earn interest.
Least Suited For
- Businesses in finance, insurance or investments: Due to FSCS rules, you’re unlikely to be eligible. I’d check your SIC code before applying.
- Companies needing dual account access (credit + savings): You can’t open both at once if you’re a new customer. That’s a pain if you want an all-in-one solution straight away.
- Firms wanting to receive third-party payments: You can only deposit from your linked business account, so it’s not suitable for managing client payments or pooled funds.
- Larger companies with complex savings needs: There’s no multi-account structure or advanced cash management features—just one savings account per business.
- Sole Traders: Solopreneurs and Freelancers aren’t eligible for a Capital on Tap Business Savings Account at the moment.
Capital on Tap Business Savings Account Features
This account keeps things simple—high interest, no fuss. Here’s what you can expect:
💷 Competitive Interest Rate
You’ll earn 3.74% AER (variable) on your balance. The rate tracks the Bank of England base rate (minus 0.57%) and adjusts automatically. I think it’s a great option for making your spare cash work harder without tying it up.
🏦 FSCS Protection
Your funds (up to £85,000) are protected by the Financial Services Compensation Scheme (FSCS) through ClearBank. It’s the same level of protection you’d get with a high street bank.
🚀 Instant Access
Need your money quickly? Withdrawals are processed within 3 hours, with no limits, penalties, or waiting periods. You can dip in and out whenever you like.
💻 Easy Setup & Management
You can apply online in minutes. Everything is managed through the Capital on Tap app or online portal. If you already use their business credit card, the savings account plugs straight into your existing dashboard.
📱 No Fees or Hidden Charges
There are no monthly fees, withdrawal fees, or deposit limits. You can start with just £1 and top up as often as you like from your linked business account.
🔁 Seamless Integration (for card users)
If you have a Capital on Tap credit card, the same nominated account is used for both, and your funds are visible in one place. It’s genuinely convenient—I didn’t have to set anything up twice.
Capital on Tap Business Savings Account Pricing
There are no hidden fees, minimum balance charges, or penalties for withdrawing money. It’s genuinely one of the most straightforward savings products I’ve encountered for business owners.
Here’s how the costs stack up:
| Cost Type | Amount |
|---|---|
| Account opening fee | £0 |
| Monthly/annual fee | £0 |
| Withdrawal fees | £0 |
| Penalty for closing account | £0 |
How Does the Capital on Tap Business Savings Account Work?
This savings account is built for business owners who want flexibility without faff. You can move money in and out easily, keep tabs on your balance in real time, and earn interest daily—all without locking up your cash.
💸 Paying In & Taking Money Out
- Top-ups must come from your nominated UK business bank account
- Withdrawals go back to the same account and usually land within 3 hours
- No limits, no notice periods, and no penalties—just full access to your funds at all times
I think this setup is ideal for businesses that want to keep cash liquid but still earn a return.
📱 Managing Your Account
- You can use the Capital on Tap app or web portal to view your savings, track interest, and manage transactions.
- Interest is calculated daily and paid monthly.
- You can download monthly statements and get real-time updates as your balance grows.
If you’re already using the Capital on Tap credit card, it’s even more seamless—both accounts show up in one place. I like how everything’s connected without being cluttered.
How Safe is Capital on Tap?
Your money and data are well protected, thanks to strong regulatory backing and secure tech.
🔐 Your Money
- FSCS protection up to £85,000: Your deposits are held with ClearBank, a fully regulated UK bank. This means eligible balances are protected by the Financial Services Compensation Scheme, just like with any high street bank.
- Daily interest, monthly payouts: Interest is calculated and paid directly by ClearBank, giving you transparency and a clear separation between Capital on Tap and the underlying bank.
- You have full control: Only you can move money in or out. Third-party payments are not allowed, and all transfers must go to or from your nominated UK business account.
🔒 Your Data
- Bank-level encryption: All data is protected using the latest security protocols. I like that they use Plaid for open banking connections—so you can stay in control and revoke access anytime.
- No data selling, no dodgy sharing: Your information isn’t passed to third parties (unless required by law), and you’re kept in the loop about any account changes or requests.
- Fast, responsive support: Capital on Tap’s 24/7 support quickly responds if anything looks suspicious. You’re not stuck waiting hours or days for help.
Capital on Tap Customer Support
Capital on Tap provides customer support that suits the needs of busy business owners and is available through multiple convenient channels. You can call their phone line anytime—24 hours a day, 7 days a week—on 020 8962 7401. This round-the-clock access is a real advantage if you need urgent help outside typical office hours.
Email support is also available at contact@capitalontap.com, with a promise to respond within four business hours. For quicker, real-time assistance during the working week, live chat operates from 8:00 am to 8:00 pm, Monday to Friday.
This blend of 24/7 phone access and extended live chat hours is especially useful for small businesses that might require support at different times due to varied working hours. It offers flexibility and reassurance without overwhelming you with unnecessary contact options.
Capital on Tap Customer Reviews
Customer feedback on Capital on Tap is mainly positive, especially from small business owners who value its blend of credit and savings features. On Trustpilot, Capital on Tap holds an impressive 4.7 out of 5 rating based on over 15,000 reviews, with many praising the savings account as a smart extension of the credit card offering.
What stands out is how customers use the account strategically, for example, to earn 4% interest on cash reserved for short-term needs like payroll. I think that’s a clever way to keep funds working for you without locking them away. The £50,000 credit limit and instant transfers between the card and savings account were also frequently highlighted, offering flexibility in spending and saving.
Several reviewers also appreciated the 1% cashback offer for new customers, which sweetens the deal early on. Support staff were described as responsive and professional, particularly during the setup phase.
That said, not all experiences were positive. A few customers, particularly start-ups, felt the monthly 10% repayment rule on high credit balances was tough to manage. One even said the pressure contributed to their business shutting down. Others flagged issues like unexpected card blocks, and one customer was caught off guard by introducing a personal guarantee, which can be a dealbreaker for some.
From my perspective, the product suits established, revenue-generating businesses that want efficient, low-effort cash management. But if you’re just starting out or operating on tight margins, it’s worth weighing the credit terms carefully before diving in.
Capital on Tap Savings Account Eligibility Criteria
You no longer need to be a Capital on Tap credit cardholder to open a savings account. That’s a big shift, and in my view, a welcome one. It means more UK businesses can now access the 3.74% AER savings rate, without having to take on a credit product first.
To qualify, your business must:
- Be based and trading in the UK
- Operate as a limited company
- Have a minimum turnover of £24,000 per year
- Not be part of a restricted industry (e.g. gambling, adult services, or anything illegal)
- Have no active bankruptcies or insolvency proceedings
- Hold a UK business current account registered under your exact legal business name
I think this setup now works just as well whether you’re already using Capital on Tap or coming in fresh. You can move surplus funds into the savings account without needing to switch banks or build a new financial relationship.
And if you do already have the Capital on Tap credit card? It’s even smoother. The savings account sits neatly alongside your existing account, and you can manage both from one dashboard. No extra logins, no fuss.
How to Apply for a Capital on Tap Savings Account
You don’t need to be a Capital on Tap customer to get started. The whole process is online, quick, and built to get you saving without delay.
- Check you’re eligible: Your business needs to be UK-registered and trading under an eligible SIC code (finance-related businesses may be excluded).
- Get your documents ready: You’ll need basic business information, such as your company registration number, address, and some financial details.
- Apply online: Head to the Capital on Tap website and complete the simple application. It only takes a few minutes.
- Verify your identity: You may be asked to upload ID documents or pass digital security checks to keep your account secure.
- Start saving: Once approved, you’ll get your account details immediately. From there, you can top up and start earning interest immediately.
Alternatives to Capital on Tap Business Savings Account
| Capital on Tap Instant Access Savings Account | Monzo Instant Access Savings Pot | Revolut Business Savings Account | Tide Instant Saver Account | Allica Bank Instant Access Savings Pot | |
|---|---|---|---|---|---|
| Variable Interest Rate | Up to 3.74% AER | Up to 1.5% AER | Up to 3.51% AER | Up to 4.22% AER | Up to 4.33% AER |
| Min balance | £1 | No minimum | No minimum | £1 | £1 |
| Max balance | No limit | £500,000 | £500,000 – £2 million, depending on the plan | £1 million | £5 million |
| Account Fees | £0 | £0 | £0, but requires a paid banking plan, starting at £30/month | £0 | £0 |
| FSCS Protected | ✅ | ✅ | ✅ | ✅ | ✅ |
| Learn More | Visit Capital on Tap | Visit Monzo | Visit Revolut | Visit Tide | Visit Allica Bank |
Capital on Tap Savings Account FAQs
Do I need a Capital on Tap Business Credit Card to open the savings account?
No. You no longer need to be a Capital on Tap cardholder to open the savings account. It’s now available to all eligible UK businesses, whether you’re an existing customer or not.
How do I transfer money into the Capital on Tap savings account?
Transfers can be made via your Capital on Tap online account from your linked business bank account.
Does the Capital on Tap business savings account require a minimum deposit or balance?
No, there’s no minimum deposit to open the account and no requirement to maintain a minimum balance.
Is Capital on Tap Business Savings Account FSCS protected?
Funds in the Capital on Tap Business Savings Account are held with ClearBank, which is covered by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Can I manage the Capital on Tap Business Savings Account via the app?
Yes. You can view and manage your savings account alongside your credit card in the Capital on Tap app or online dashboard.
How long does opening the Capital on Tap Business savings account take?
The application process is quick and fully online. Most businesses receive a decision within 2 minutes. Once approved, you’ll get your account details straight away and can start saving immediately. There’s no paperwork or waiting around—just a simple, fast setup.
