Hargreaves Lansdown Active Savings review
Find out how the Active Savings product from Hargreaves Lansdown works and how you can use it to manage several savings accounts in one place.

Hargreaves Lansdown may be primarily known as an investment management platform, but you can also put cash into a savings account using its “Active Savings” product.
Hargreaves Lansdown offers a product called Active Savings, which allows you to choose between several savings accounts in one platform. These accounts are offered by other banks that are partnering with Hargreaves Lansdown. Using Active Savings, you can move your money between these accounts effortlessly, without having to complete a lengthy application process each time.
Each banking partner has Financial Services Compensation Scheme (FSCS) cover up to £85,000. That means that if that the bank or building society holding your funds goes bust, the FSCS promises to compensate you up to that limit.
Hargreaves Lansdown doesn’t charge its Active Savings customers. Instead, it charges its partnering banks. This may mean the interest rates offered are lower than what you’d get by opening an account with the banks directly.
At the moment, the platform offers cash ISAs, instant access accounts, limited access accounts and accounts with fixed terms to choose from. There are Sharia-compliant accounts available too.
You can apply to open an Active Savings account via the Hargreaves Lansdown website. To apply, you’ll need to share some basic personal and financial details. You’ll also have to nominate the current account you want to make deposits from.
If you already have a Hargreaves Lansdown investment account, there’s no need to fill out a separate application. Just head to the Active Savings tab on the Hargreaves Lansdown website.
Once your account has been created, you’ll make a deposit from your nominated current account into Hargreaves Lansdown’s “cash hub”. This is essentially a holding account, from which you can transfer your savings to any of Hargreaves Lansdown’s partner accounts.
To withdraw your savings or move it to another account, you’ll first have to transfer it back into the “cash hub”. Funds will earn 0% interest in the “cash hub”, so there’s no benefit to keeping money there for too long.
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This product gives you the flexibility to easily move your money to a savings account with a better rate.
However, you’ll often receive a lower interest rate compared to what you’d get by applying directly with the partnering banks.
If you’re happy to sacrifice some interest for this added convenience, you’ll be pleased with Hargreaves Lansdown’s Active Savings product.
Our Finder Awards celebrate brands that truly stand out in their field, creating innovative personal finance products and providing outstanding service to their customers. Hargreaves Lansdown is one of these brands and has won multiple awards!
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