How it works


Flagstone’s unique cash platform can meet the specific requirements of businesses, charities, trusts (including SIPPs and SSASs) and individuals for both on-shore and off-shore multi-currency cash deposits.

One simple agreement with Flagstone gives you the ability to quickly and easily place deposits with a number of banks without the requirement to complete time consuming documentation for each one.

Build your deposit portfolio based on your specific liquidity requirements, opening and funding accounts with just a few clicks.

Every account available on the Flagstone platform comes with clear and transparent analysis of the financial strength of the bank providing it, enabling you to easily assess and compare the relative credit strength of each bank before making a selection.

Your deposits are always held in segregated accounts and you maintain beneficial ownership at all times with absolutely no credit exposure to anyone other than the specific banks you choose.

Accounts created on the Flagstone platform with onshore UK banks provide clients with the same FSCS protection as if the client had placed the deposit directly with that bank.

How It Works

One Set your Deposit Criteria

Using a simple filter tool, set the criteria for your deposits based on value, account type (instant access, notice and/or term deposits) and your liquidity needs.

Two Browse Accounts

Review all the accounts that meet your criteria.

Three Clear and transparent analysis

Clear and transparent financial strength analysis is available for each of the banks on the platform. This is distilled down into a simple Financial Strength Score (out of 100) to enable you to make an informed decision.

Four Select and Execute

Select the deposit accounts which meet your needs and simply click on them to add them to your portfolio. View the overall interest that will be payable on your portfolio and when you are happy with your selections click to confirm. Flagstone will then execute these deposits.

Five Reporting

View all your deposits at a glance with 24/7 secure online access. You will receive consolidated monthly statements and an annual summary for tax reporting.

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See Flagstone in Action

The following case studies are based on real client scenarios. Names have been changed for confidentiality purposes.

Case Study A: from £1k interest per annum to over £6.5k

Client profile: Mark is the Finance Director at a manufacturing business.

Deposit size: £400k

Challenge: Mark’s company had £400k saved in an instant access account at a high street building society. When he opened the account he was given an attractive interest rate of 1.75%. However, when a recent interest statement arrived showing interest earnings far below his expectation, he discovered that the rate had dropped to 0.25% almost 12 months prior.

How Flagstone helped: Mark discovered several attractive rates through Flagstone and opted to spread the company’s £400k across three accounts to reduce the firm’s risk exposure at the same time as maximising its interest earning potential. The blended rate across the three accounts, net of fees, was 1.67%.

Result:

  • Mark’s company went from earning a gross annual interest of £1,000 to £6,680 per annum.
  • The company was able to adhere to its low-risk strategy by spreading the funds across accounts, receiving FSCS protection up to the £85k limit on each.
  • Flagstone set up a hub account for Mark’s company within 24 hours with one simple agreement.

 

Case Study B: from zero interest to £120k per annum

Client profile: Rakesh is the CFO at a publicly-listed company.

Deposit size: £15m

Challenge: Rakesh came to Flagstone with two main concerns. Firstly, some of the company’s cash on balance was held in a Euro account at a bank that was charging the company to hold the funds through a negative interest rate. Secondly, the company kept £12m in a Sterling account earning zero interest. Rakesh was also keen to maintain liquidity and ensure the company’s funds were not locked up for the long term.

How Flagstone helped: Rakesh signed up with Flagstone to take advantage of more appealing options from two of our A-Rated banking partners. The first was a 90-day notice Euro deposit account paying 0.5% to which he transferred 1.5m. The second, a 31-day notice Sterling account paying 1% interest in which he deposited £12m.

Result:

  • Rakesh was able to open two new accounts within 48 hours through one simple sign up process.
  • He put a stop to the charges his company was paying on the Euro account, turning a loss into a gross interest income of €7,500 per annum.
  • On the Sterling funds, the company went from earning zero interest to £120,000 per annum.

Case Study C: increased yield by 4x

Client profile: Deborah was the CEO of a successful accountancy software company and sold her business for several million pounds.

Deposit size: £34 million

Challenge: When Deborah sold her company, her bank at the time offered just 0.25% on the funds from the sale. Unsurprisingly, she was unimpressed by this rate and was also concerned about the risk she would be taking in leaving this lump sum in just one account.

How Flagstone helped: Deborah signed up with Flagstone and transferred the £34 million into the new hub account we set up for her within 24 hours. She then used the Flagstone platform to select nine banks with which to deposit her money. All nine accounts were opened and active within three days of her instruction with no further paperwork required on her part. Net of fees, her weighted yield across the nine accounts was 1.10%.

Result:

  • Deborah achieved an increase in yield of just over four times what her bank was offering.
  • Her cash was diversified amongst nine different counterparties matching her risk requirements.
  • The funds were invested across different terms, four months being the maximum, to fit with her projected cash flow needs.
  • The entire process was exceptionally simple – just one account opening process and no further paperwork.

 

 

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