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4h ago

Coinbase Starts U.K. Rollout of FSCS-Protected GBP Savings Account Paying 3.75% AER

The phased launch follows FCA VASP registration, using ClearBank custody to bring bank‑style protection to Coinbase balances.

Coinbase launches 3.75% fscs protected uk savings account

Overview

  • Access begins Nov. 11 for selected U.K. customers, with broader availability planned over the coming weeks.
  • The account pays a variable 3.75% AER with interest calculated daily, offering instant withdrawals with no minimum deposit or lockup.
  • Customer funds are held at ClearBank and covered by the Financial Services Compensation Scheme up to £85,000 per eligible person.
  • Balances can be moved back to a user’s GBP wallet to buy crypto, make card purchases, or withdraw to a bank, with interest ceasing on withdrawal days.
  • Coinbase presents the product as a regulated savings account distinct from crypto lending or staking, aligning with its push to expand compliant services in the U.K.