14 May 2025
Quilter expands savings account functionality with new CashHub MultiBank
- CashHub now available for corporates, trusts and charities
- Adds joint accounts
As part of its ongoing platform developments, Quilter, the adviser platform, is pleased to announce the expansion of the CashHub savings service, provided by Bondsmith.
CashHub MultiBank
Initially launched early last year for individual clients, CashHub allows advisers to view their clients’ cash savings alongside their Quilter platform investments.
The service now includes access to CashHub MultiBank which enables deposits to be automatically diversified across multiple banks. This significantly increases FSCS protection and offers a blended interest rate from a panel of leading UK banks.
This functionality is brand new to the UK and ensures clients can benefit from FSCS protection of up to £255,000 (or £510,000 for joint accounts), while maintaining ease of access, a single point of management and a competitive interest rate.
Corporates, trusts and charities
The CashHub is now available to a broader range of clients, including corporates, trusts and charities.
Advisers will benefit from enhanced value in their conversations with corporate clients, as they gain visibility into cash holdings. This transparency allows for more informed discussions about holistic financial planning and allows them to service the saving needs of a broader client base.
Joint accounts
Joint CashHub accounts are now offering customers greater flexibility in structuring their finances. This provides the opportunity for up to double the FSCS protection on one account and removes potential probate barriers upon death.
About CashHub
CashHub, which is powered by Bondsmith and distributed by Quilter, serves as a secure home for emergency funds or to build up funds to cover future liabilities (e.g., tax bills or business asset purchases). The minimum CashHub deposit is £100,000 for all ‘non-personal’ accounts and £1,000 for individual and joint accounts.
CashHub holdings are integrated into platform valuations, providing a more accurate picture of overall wealth, including investments and cash.
As part of the expansion, bulk valuations will now be available. Savings within a CashHub account will be integrated into adviser client management systems, reducing the workload for advisers and enhancing efficiency.
Steve Gazard, chief distribution officer at Quilter, says:
“Following the successful launch of our award-winning CashHub for individual clients, we are thrilled to introduce the next stage of its evolution with the launch of CashHub MultiBank and wider eligibility for trusts, corporates and charities.
“These enhancements significantly boost protection for clients’ cash holdings and demonstrate our commitment to meeting the diverse needs of advisers and their clients, including corporate accounts.
“By providing a robust, integrated cash management solution, advisers have greater visibility of their clients’ cash holdings, enabling informed and holistic financial planning discussions. We are dedicated to continuously improving our platform to support advisers in delivering exceptional value to their clients.”
