What does this mean for me?
There will be no change to the way you access and manage your savings, and your annual equivalent interest rate (AER) will stay the same.
However, during the time that your account is being updated, you’ll be temporarily unable to withdraw. This will take no longer than one day to complete.
When will this take effect?
The update will take place on 1st May 2026.
Will the amount of interest I earn change?
The total interest earned over a year will remain unchanged. This is due to your interest rate being based on the Annual Equivalent Rate (AER), which shows how much interest you would earn across a one-year period, regardless of how interest payments are made.
However, you will see a change in your account under Today’s interest. This is because you’ll earn interest based on the money you’ve contributed, interest paid, and interest due (interest that has been earned but not yet credited to your account). Every day you earn interest, your total value will grow, and each day you will earn more interest on the higher amount. The daily rate is calculated so that you keep earning the annual equivalent rate over a year – no matter how often the interest is added to your account (also known as daily compounding).
Will I be able to access my money during the updating window?
During the time that your Business Saver is updating, which may take up to one day, you’ll temporarily be unable to withdraw or move money. This will be signposted within your account and will be available again once the update is complete.