Monument (or the “Bank”) announces the expansion of its savings proposition with the launch of its new Notice Accounts. The introduction of this product follows feedback from the Bank’s savings clients, largely mass affluent individuals, who value a wide range of product options to fit their various savings goals, with greater flexibility. This launch is a further addition to the suite of savings products already offered by the Bank which includes Easy Access Savings and a range of Fixed Term Deposits.
The new Notice Accounts offer clients a balance between competitive returns and the ability to access their funds without long-term commitments. The initial release will be available with a notice period of 7, 35 and 60 days and paying a competitive variable interest rate.
Available via the Bank’s innovative app, the new Notice Accounts can be opened within minutes and managed seamlessly. The Bank has set a new standard for digital banking with its app, which supports live chat, in-app phone and video calls, email, and co-browsing with its UK-based team.
Details of the Monument savings products, eligibility, and terms and conditions can be found on the website www.monument.co. Depositors must hold a minimum balance of £25,000 with Monument across all savings accounts they have at any time. Eligible savings are protected up to £85,000 by the FSCS.
Commenting on the product’s launch, Craig Maddock, Head of Savings at Monument, said: “We are excited to announce the expansion of our savings product range with our new Notice Accounts. Alongside our Easy Access Savings and Fixed Term Deposits, our suite of Notice Accounts offers our clients a comprehensive range of options to manage their savings in a way that works for them. This launch empowers our clients with greater choice to better support their various savings goals, allowing them to tailor their financial approach by spreading their savings across the different account types, each designed to align perfectly with their specific needs for accessing their funds. We developed the new Notice Accounts in just 12 weeks, another demonstration of our ability to respond rapidly to client feedback and deliver propositions that directly meet the needs of our clients.”
Monument remains committed to serving the overlooked ‘mass affluent’ segment in the UK. The release of its Notice Accounts follows a host of innovations launched by the Bank this year to provide clients with modern, digital products and services. Earlier this year, the Bank launched its Monument Lifestyle proposition, offering over 35 services designed to save busy professionals, entrepreneurs and their families’ time and money searching for ways to reach their wealth-creation potential and enjoy life to the fullest.