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Open an Active Savings account

Active Savings account application

Filling in the application takes about 10 minutes.

As this will be the first time you’ve paid into your Lifetime ISA in the current tax year, you’ll have to confirm that you agree to the Lifetime ISA declarations. It shouldn’t take any longer than 5 minutes.

This won’t impact your existing account – any contributions to this year’s Lifetime ISA will appear as normal.

What you need to know

  • You can only access and manage your Active Savings account online. We will send any information relating to your account by secure message or email.
  • Active Savings helps you make your own decisions and is not personal advice.
  • Income tax may be payable on any interest received subject to your personal circumstances. See our FAQs for more details.
  • If the rate of interest you receive on your savings is lower than that rate of inflation, the future spending power of your money will be reduced.
  • You’ll have 30 working days to choose savings products once your money has been received in the cash hub or we may return your money to you. Any money in your cash hub is held in a segregated account with Barclays Bank plc where your money will be safeguarded by us until you choose what to do with it. You won’t earn any interest on money held in the cash hub.
  • Any money you have in the cash hub is either protected through the FCA’s safeguarding rules if we (Hargreaves Lansdown Savings Ltd) were to fail, or the Financial Services Compensation Scheme (FSCS), if Barclays were to fail.
  • When your money is in a savings product, the FSCS will protect up to £85,000 of your eligible deposits per banking licence. Read more about protection of your money.

What you need to have to hand

  • Your debit card details to open your Active Savings account with a lump sum. The minimum amount is £1.
  • Your bank details to set up a Nominated Bank Account so you can withdraw your money.

Additional security requirements

When you open an Active Savings account, we’ll apply further security measures to your account which will change the way you log in. These changes will make your account more secure and are in line with recent payment services regulation. There will be two main changes:

  • If you are inactive for five minutes you will automatically be logged out. Unfortunately this cannot be changed
  • You will receive a code via text or call each time you log in to your account

By opening an Active Savings account, you agree to our terms, so please make sure you’ve read and understood our Terms and Conditions (PDF). Please contact us if you have any questions.

If you’re an existing client with online access, you can login first to speed up your application.