| Feature | Hargreaves Lansdown | Raisin UK | Flagstone | | :--- | :--- | :--- | :--- | | | Excellent | Good | Complex (Aimed at Pros) | | Interest Rates | Highly Competitive | Competitive | Competitive | | Withdrawal Speed | Same Day (Up to 4 hrs) | Varies (Can be slow) | Varies | | Minimum Deposit | £1 | Usually £1,000+ | Usually £10,000+ | | Best For | Existing HL Clients & Beginners | General Savers | Professional Landlords/High Net Worth |
HL acts as an agent. Your money is held with the partner banks (e.g., Leeds Building Society, Atom Bank), not directly with Hargreaves Lansdown, which has important implications for protection (more on this below).
It is free to use. The only "cost" is the opportunity cost if a bank not on the HL platform is offering a higher rate elsewhere.
This is a common point of frustration in reviews. With a normal high-street bank savings account, a transfer is often instant. With Active Savings, withdrawals can take during business days. hargreaves lansdown active savings reviews
While HL has big names (like Atom, Aldermore, Cynergy), they do not offer every bank on the market. Some reviewers note that sometimes a challenger bank (like Chip or Zopa) might offer a slightly better rate than what is available on HL.
HL is a member of the Financial Services Compensation Scheme (FSCS). Crucially, . If Hargreaves Lansdown went bust, your money is held with the partner banks, not lost in HL’s accounts. If a partner bank went bust, you would claim via the FSCS (up to £85,000 per banking group).
Active Savings is a "savings marketplace." It allows you to hold cash savings with multiple different banks and building societies through a single HL account. | Feature | Hargreaves Lansdown | Raisin UK
The platform generally offers two types of products:
Instead of opening a separate account with every bank, filling out new forms, and managing multiple login details, HL acts as a hub. You transfer money into HL Active Savings, and then "drag and drop" that money into savings products offered by partner banks.
Active Savings is a (not a bank). It lets you hold cash and distribute it across multiple UK banks and building societies via a single online account. Key features: The only "cost" is the opportunity cost if
When reading user reviews of Active Savings, focus on these common themes:
HL is known for its investment platform fees. However, there is on Active Savings. HL makes its money from the margin between the rate the bank pays them and the rate they pay you, or a commission from the bank. Some users mistakenly believe they will be charged HL’s standard platform fee, but this is not the case.