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B is part of a new movement of digital-only banking services that lets you open a bank account with your smartphone.
Unlike many recent digital banking services, B is powered by traditional banks – Clydesdale Bank and Yorkshire Bank. However, it is a purely digital service. There are no physical branches and no trips to the high street. Everything, from registering and applying, to running your account, is done through its app.
As long as you have a tablet or a mobile, you can apply to get a current and instant savings account with B.
There’s only one option for saving – B’s instant savings account, and it doesn’t offer the biggest return on your money.
To open the instant savings account you have to first open a current account with B – which also gives you a small rate of interest on your money.
This lets you quickly move money between your spending and your savings pots – so if you’re in a tough spot at the end of the month, it’s easy to dip into your savings.
Moving money is quick and easy through its app.
Here’s what the app allows you to do:
These banks rarely offer savings accounts, so B’s savings option is a welcome exception. If you’re happy to earn just a small amount of interest and keep your money within spending distance, then B could be for you.
However, if looking to put your money away for a year or two, there are far better options out there that offer a better return.
Get a 5 Year Fixed Rate Savings Account
Click the button and find out more about opening a 5 Year Fixed Rate Savings Account with Aldermore, the winner of Best Fixed Rate Cash ISA Provider 2019.
Apply for Newcastle Five Year Fixed ISA
Click the button and find out how to apply for Newcastle Five Year Fixed ISA or another savings account at Newcastle Building Society.
Open a savings account with Sainsbury's Bank
See what are the benefits of opening a saving account with Sainsbury's Bank and start saving now.
Put your money into a 2 year fixed rate account
Click the button and get to know more about 2 Year Fixed Rate ISA and saving your money with AA.
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