• New business savings accounts will provide Capital on Tap customers market-leading interest rates and eligible funds can be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
• Customers will be able to access accounts through Capital on Tap’s existing user portal and load funds from their nominated bank account.

ClearBank, the enabler of real-time clearing and embedded banking, has launched a new embedded banking service for Capital on Tap, the credit card provider for small businesses. The partnership will see ClearBank provide business savings accounts integrated directly into Capital on Tap’s existing user portal.

The new business savings accounts will be available to new and existing Capital on Tap customers. Businesses using the accounts will benefit from higher interest rates on their savings, as well as eligible deposits protected by FSCS.

Customers will be able to open a business savings account through the existing Capital on Tap portal, providing a seamless user experience. This gives customers the flexibility to deposit funds from their nominated bank account and earn daily interest, with the peace of mind that they can instantly withdraw the funds when they need them.

The solution exemplifies ClearBank’s innovative approach to embedded banking, enabling small businesses to streamline their financial management in a secure manner. ClearBank’s business model ensures that all UK deposits are held with the Bank of England.

ClearBank and Capital on Tap started discussions in 2023, before agreeing heads of terms and beginning the implementation in April 2024. Following initial beta testing in October 2024, the savings accounts are now live for Capital on Tap customers, therefore making this the quickest embedded banking service ClearBank has brought to market. The companies are now in discussions about developing future solutions, that would further enhance Capital on Tap’s offering to its SME client base.