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Leeds Building Society added to Active Savings platform


Active Savings, a savings marketplace from Hargreaves Lansdown, has added one of the biggest building societies in the UK, Leeds Building Society, to its platform, taking the total number of partner banks and building societies to 14, the largest ever number.

Danny Cox, Head of External Relations, Hargreaves Lansdown, says: “Even with interest rates not far off rock-bottom, savers can still make their money work harder for them. Through just one simple application, cash savings platforms can help savers grow their pot, with an easy way to move money between different accounts with different providers, saving the hassle of the traditional way of shopping around.

We’re delighted to add Leeds Building Society to Active Savings and broaden our range of partner banks and building societies to reach the highest number we’ve had. Over 80,000 savers hold over GBP2.9 billion on our cash savings platform in a mix of easy-access and fixed-term savings products available from a range of UK banks and building societies, and all through just one easy-to-use online account. Most savings products can be opened with only GBP1,000 and some are available from just GBP1.”

Andy Moody, Chief Commercial Officer, Leeds Building Society, says: “This is an exciting new opportunity for the Society and a new way for savers to access our products in addition to our well-established and popular branch network.

“Hargreaves Lansdown shares our view that a culture of savings is really important, both for individuals and wider society, and we’ll continue to explore ways we can help more people save.”

Launched in 2018, Active Savings is an online cash savings platform which provides a solution for the 49 per cent of people who haven’t moved their savings in the past fove years, and the 37 per cent who’ve never switched.

Through one single application, savers can move money between accounts with different banks and building societies in just a few clicks, removing the need to ever complete another application. Active Savings means all cash can be kept in one place, and makes it much simpler for savers to choose another product when their fixed-rate comes to an end.

Hargreaves Lansdown chooses to partner with providers that only offer consistently good rates, rather than those offering a high introductory rate which drops to a much lower rate after a short period of time.

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