Bondsmith

Bondsmith operates a deposit platform where customers place cash in savings accounts at several partner banks through one application and sign-in. Deposits and withdrawals pass through a hub account held at HSBC Bank Plc, and the company states that its partner banks and the holding account are FSCS-protected, with eligible deposits protected up to £120,000 per bank.

Customers include UK-resident individuals, businesses, financial advisers, wealth managers, charities and trusts. The company states it charges no fees to users: it receives a share of the interest from the partner bank, deducted before the rates are shown on the platform. Wealth managers can offer a white-label version of the service to their own clients, and FNZ is described as both an investor in and a customer of Bondsmith.

Bondsmith is authorised by the FCA under the Electronic Money Regulations 2011 (Firm Reference 955601) to issue electronic money. Its registered entity is Bondsmith Savings Ltd (No 13223331, England and Wales), with registered office at 124-128 City Road, London. The company lists Michael Doyle as Founder & CEO and has open roles in London for a part-time Senior Bookkeeper, a Head of Operations and a Finance Manager.

Product: A single account and sign-in for depositing cash across partner bank savings accounts, with a hub account and a white-label option for wealth managers.