Instant Saver

Yes. The interest rates are variable, so can change from time to time.

You can find information about changes to your interest rate and how we’ll tell you about it in the Instant Saver T&Cs.

This is the amount of money you’ll have in your account after 12 months, if you put £1,000 in on the day you open it.

This illustration assumes that you don’t make any payments in or out during the 12 months and that interest is paid into the account.

You can open and manage this account using the Atom App, which is available from the UK App Store© and the UK Google Play© store.

You must be at least 18 years old and a UK resident to open an account.

Currently, Instant Savers can only be opened as sole accounts and are limited to one per customer.

There’s no minimum deposit to open an Instant Saver account. The Maximum Balance Limit for this account is £100,000. The total balance across all easy access savings accounts you hold with us cannot exceed £100,000. More information can be found within the Instant Saver T&Cs.

You can only make payments in and out of your Instant Saver via your connected account.

Yes. You can use the Atom App to make payments out of your Instant Saver via your connected account at any time.

As long as there’s enough money in your account, there’s no limit on the number or value of withdrawals you can make (though a large withdrawal may need to be split across more than one payment).

From 6 April 2016, the Personal Savings Allowance means basic rate taxpayers can earn up to £1,000 interest tax-free per year; this limit is £500 for higher rate taxpayers.

Where possible, HMRC will automatically collect any tax you owe through a change to your tax code.

Go to https://www.gov.uk/apply-tax-free-interest-on-savings for more information.

If you need this document in another format, please contact us via the App or call 0333 399 0050.

The instant saver T&Cs give you more detail about how the product works, so you can decide if it’s right for you.

Please note that the rates we offer can change at any time.

It’s an app-based easy access savings account that pays interest on the money you put in it. You can save as little or as much as you want up to £100,000. And you can put money in, or take money out whenever you need it — it really is instant.

Anyone who wants to save money whilst having instant access to it!

You’ll need to be 18 years old or over, have the Atom app downloaded to your device and a UK current account registered in your name.

Yes, as it’s an easy-access account, you can withdraw or add money instantly, as many times as you like. You just need the Atom app and a UK current account in your name to get started.

This is the account that you can use to send money to and from your Instant Saver and Saver Reward. It must be a UK personal current account, in your name and registered at your address (it cannot be a business current account).

All your savings with Atom are protected by the FSCS (Financial Services Compensation Scheme) up to a total value of £85,000.

Please note: this is the total protection value across all Atom savings accounts and not applied per savings account.

It’s really easy to add funds to your Instant Saver. Just make a bank transfer from your connected UK current account using the sort code and account number of your Atom account. If you like, you can add a reference to help you spot the transaction on your bank statements.

Your funds will typically land in your Instant Saver almost immediately, though sometimes your current account provider will need to run some checks before they make the transfer, so this can slow things down.

When you add funds to your account, it’s worth keeping in mind that you can’t exceed our Maximum Balance Limit. This stands at £200,000 per customer, split into £100,000 for total funds held in for your easy-access accounts at any time (Instant Saver, Saver Reward and Holding Account) and £100,000 for total funds held in your Fixed Saver accounts at any time.

Not really. Both of these terms describe accounts that give you instant, unlimited access to your money.

You may have heard the term ‘easy-access savings’ used to describe similar products, but it generally means the same thing as instant access.

Many banks choose to describe their products as one term or the other, and there may be some slight differences from bank to bank. But the feature they all should have in common is providing instant, unlimited access to your funds.

Here at Atom, our Instant Saver and Instant Saver Reward accounts are both easy access accounts.

You can close your Instant Saver account directly in the Atom app in just a few minutes, with the following steps:

1. Select your Instant Access account in-app
2. Click on the ‘Close account’ option
3. If you have funds in your account, you will be prompted to move them to your connected external account to empty your Instant Saver balance.
4. Once empty, you can now select to finalise closing your account

Please note, although you will be permanently closing your account, you will still be able to view all of your previous statements and transactions.

If you just want to change your connected account, you don’t need to close your Instant Saver. Just select the ‘Connected account’ option from your account screen.

Looking to move your Instant Saver funds to a Fixed Saver? You can transfer your money straight over to one that’s within its funding window by choosing the ‘Withdraw money’ option from your Instant Saver account screen and selecting your Fixed Saver.