Communion savings app review

There’s a new savings app on the market. We explore what Communion has to offer.

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If you’re looking to get better at saving and want to earn a decent rate of interest on your cash, the newly launched Communion app could be for you.

What is Communion?

Communion is a brand-new savings app designed to help people develop better savings habits and build a financial buffer. The app was recently launched by ex-Habito CEO Daniel Hegarty and is targeted towards those aged between 25 and 35 years old who might be renting and struggling to save for a house deposit.

How does it work?

When you download the Communion app, you can start saving into an easy-access account. This pays a decent rate of interest. However, you can boost your rate each time you refer a friend to the app (up to a limit).

When you sign up, you’ll need to agree to an “initiation phase”, whereby you must deposit £1 a day for 10 days into your account. The idea is to help you get into the savings habit. You’ll then have access to 3 months’ worth of daily 90-second videos, where Daniel Hegarty talks you through savings strategies. You’ll also get unlimited access to Communion’s team of Money Guides and can create your own personalised 12-step plan with tools and support to help you save.

Funds are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). However, when you first make a deposit into your account, the funds are sent to Bondsmith Savings Limited and briefly pass through an e-money account. At this point, your money is protected by separate electronic money regulations rather than the FSCS. Your money is then deposited into an account with Santander and covered by the FSCS.

How to sign up

You can currently only download the Communion app via the App Store, so it’s only suitable for iPhone users. It’s expected to be available to Android users in the near future.

You’ll need to be at least 18 years old, a UK resident and have a UK address. You’ll also need a mobile banking account, have your National Insurance number to hand and take a selfie. It takes around 10 to 15 minutes to sign up.

There is currently no subscription fee for the app, but this will likely change in the future.

Pros and cons of Communion


  • Easy access savings with bonus rate available
  • Can help you build good savings habits
  • Currently no fee for joining
  • FSCS protection


  • Currently only available to iPhone users
  • More competitive rates elsewhere
  • Currently in the early stages, so limited features

Our verdict: Is the Communion savings app worth it?

If you’re looking to establish better savings habits, there’s no harm in downloading the Communion savings app to see what it has to offer. But it’s in the early stages of its launch, which means there are limited features, and you might have to put up with a few glitches.

Also, keep in mind that plenty of other savings apps on the market could be more suitable. These include Chip, Chase and Plum. Take a look at our best money savings apps review for more information.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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