- Experts rate AJ Bell Cash Savings highly, noting its competitive interest rates and the simplicity of its platform. However, they point out the absence of instant access accounts and a limited range of options as significant drawbacks, while praising the clear information provided about each account.
- Across 1103 user reviews on Good Money Guide, averaging 4.2/5, customers frequently commend the platform's user-friendly interface, responsive customer service, and transparent fee structure. Some users express satisfaction with the reliability and ease of use of the app, while a few mention concerns about platform stability and the need for improvements in the app's functionality.
Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated AJ Bell Cash Savings across five key areas of our review framework.
- Rates4.5
- Market Access4.5
- App & Platform5.0
- Customer Service5.0
- Research & Analysis4.5
Pros
- Simple to navigate
- Clear information
- Competitive top rates
Cons
- No instant access accounts
- Limited range of options
- Need AJ Bell account
See full expert review
Our verdict
In 2020 AJ Bell launched its Cash Savings hub, which allows its customers to select from among a range of selected savings accounts from third-party providers. The range directly competes with the Active Savings Account offered by AJ Bell’s chief rival, Hargreaves Lansdown, as well as online marketplace Raisin and savings platform Flagstone.
Is AJ Bell Cash Savings Hub any good?
Currently, the top savings interest rates offered on the AJ Bell Cash Savings hub are among the most competitive.
All accounts on the platform are covered by the Financial Services Compensation Scheme (FSCS) guarantee of up to £120,000 on bank deposits.
By comparison to the alternatives in our table, the AJ Bell Cash Savings hub is relatively limited.
Unlike the others, AJ Bell’s service does not offer any instant access savings accounts, from which savers can withdraw their money without incurring a penalty.
Fixed term savings accounts or bonds typically lock money away for a term of between six months and five years, with a set interest rate for that period.
Notice accounts require you to give a notice of between 30 to 90 days before withdrawing your money.
One point in favour of the AJ Bell Cash Savings hub is its simplicity. The large numbers of accounts offered by its rival comparison platforms can sometimes seem excessive and potentially confusing.
There are usually a few accounts in each category which offer better interest or conditions than the others, so having a wider range of options does not necessarily make a platform superior in all respects.
The hub offers a tool on its website which shows you exactly how much money you will earn in interest from each account when you allocate a set amount of money. Among its rivals, only Raisin offers a similar feature to those browsing their websites.
The main webpage of the hub also clearly summarises the most important information regarding each account: the interest rate, the term length and the minimum deposit. By contrast, Raisin requires you to do a bit more searching to see the minimum deposit.
The filter for the comparison page is also pleasantly simple, allowing savers to select accounts by four different ranges of term length. Its rivals present many more filters, which could be confusing for beginners.
Customer reviews for AJ Bell
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 1,103 reviews
- Excellent46%
- Very good35%
- Basic15%
- Poor3%
- Bad2%
Read customer reviews
Decent service
Decent service
5/5
Pros:
It is so flexible, I can spend anywhere.
Cons:
Nothing.
5/5
3/5
5/5
Pros:
n/a
5/5
Pros:
Great value for money on currency transfers
Cons:
Cut fees further
5/5
3/5
Pros:
Wide selection of fund, trusts and shares to invest in
5/5
Pros:
Convenient
4/5
Pros:
low cost in transferring money
3/5
Pros:
Pension
4/5
3/5
Cons:
Design
1/5
Pros:
Great currency service and easy to use App
Cons:
Keep Fees low
4/5
4/5
Pros:
Free euro transfer
Cons:
Euro
4/5
Pros:
Reasonably user friendly
Cons:
Provide more analysis about companies.
5/5
Pros:
Good exchange rates
Cons:
Prioritise keen rates above all else
4/5
Pros:
Fees
Cons:
Ease of Use
5/5
Pros:
Good for remitting money to India
Cons:
I only used it twice so far. Can't think of improvements.
In this guide review AJ Bell’s Cash Savings Hub and compare it to rival offerings by Hargreaves Lansdown, Raisin and Flagstone.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
