New benefit

Workplace Savings

A simple, rewarding way to set aside money each month.

Summary

Subtract

Interest: 4.54% AER¹

Added Protection:

image 77 (2) protection for eligible deposits

Maximum Balance: £85,000

Available for: All Wagestream members¹

Interest Payments: Calculated daily

A quarter of UK workers have no safety net, with less than £100 in savings

Source (Money and Pensions Service)

Lacking a financial buffer leads to a reduction in productivity, compounded mental health issues and a poorer quality of life
Source (Martin Lewis' Money & Mental Health Policy Institute)

The latest research confirms the potential of the workplace for getting more people saving
Source (Nest Insight, 2024)

That's why we've launched a workplace savings benefit that unlocks interest rates usually reserved for corporations and the wealthy, for your entire team.

How does it compare?²

Lloyds
Easy Saver		Barclays
Everyday Saver		Natwest
Flexible Saver		HSBC
Flexible Saver		Wagestream
Save		Investec
Flexi-saver
Interest 1.90% AER1.66% AER1.75% AER2.00% AER4.54% AER¹4.60% AER
Interest paidMonthlyMonthlyMonthlyMonthlyDailyMonthly
Min. deposit£1£1£1£1£0£5,000
Sample selection of interest rates, other rates are available
Purple circle icon depicting a stylized representation of money and a payment app interface.
Save with interest

Better interest than the high street banks, paid daily into the Wagestream app. 

Flexible Pay-Nov-05-2024-02-25-22-4185-PM
Save with ease
In as little as three taps, colleagues can start saving. There’s no easier way to save. 
Purple circle with a white smiling face icon; financial wellness app icon.
Save with peace of mind
Deposits are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

¹ 4.54% AER, subject to variability; changing to 4.24% Gross | 4.33% AER on 5th March. Interest-bearing savings are available to all Wagestream members aged 18+ excluding US citizens and those with tax residency outside the UK. ² Comparison against Lloyds Easy Saver, Barclays Everyday Saver, HSBC Flexible Saver and Natwest Flexible Saver as of 16 August 2024. Workplace Savings are  provided through Wagestream Finance Ltd.

For more information about Workplace Savings or any of our financial benefits for your colleagues, speak to a member of our team.