Capital on Tap, a leading platform for small business credit cards and spend management, has expanded its range of financial services by introducing business instant access savings accounts. This new offering, powered by ClearBank’s embedded banking technology, signifies the company’s growth into a comprehensive provider of financial solutions.
The new business savings account fills a gap in the market by providing an easy, competitive option for businesses traditionally limited in accessing savings products. The Instant Savings account offers businesses the flexibility to make unlimited deposits starting from just £1, with no upper balance limit and zero monthly fees. Additionally, all accounts are safeguarded under the Financial Services Compensation Scheme (FSCS), offering protection of up to £85,000.
“This launch represents a fundamental shift in how small businesses can manage their finances,” says Alex Miles, Chief Operating Officer at Capital on Tap. “By combining high-interest savings with our existing credit solutions, we’re creating a comprehensive financial ecosystem that directly addresses the market gap for integrated business banking services.”
The implementation, completed in just under 6 months from initial agreement to launch, demonstrates Capital on Tap’s agility in bringing innovative financial products to market. Following successful beta testing with selected customers in October 2024, the service is now available through Capital on Tap’s existing customer portal.
This strategic expansion builds on Capital on Tap’s impressive growth trajectory, with customers having processed over £10 billion in spending across the US and UK markets. The company recently achieved notable recognition, ranking #1 in the Fintech, Financial Services & Insurance category and #5 overall in the Financial Times’ inaugural Europe’s Long-Term Growth Champions 2025 list.
Alex Miles, Chief Operating Officer, Capital on Tap, said: “Small businesses have traditionally had to choose between easy access to their money and earning competitive returns. Through our strategic partnership with ClearBank, we’ve created a secure, instant-access savings solution that eliminates this compromise. This successful collaboration demonstrates our commitment to working with best-in-class partners to build the financial operating system that small businesses deserve, combining spending, saving, and rewards in one seamless platform.”
John Salter, Chief Customer Officer at ClearBank, said: “Collaborating with Capital on Tap to integrate secure and reliable savings accounts onto its portal has enabled the company to continue expanding its support to UK SMEs without compromising its seamless user experience. This partnership serves as another example of our growing embedded banking capability and we’re looking forward to building on the great results to date with further collaboration in the future.”