High-Interest School Savings Accounts

Earn £93.59* per day on every million pounds deposited, with zero risk and no need to open hundreds of bank accounts to keep your large cash holdings properly protected.
* Based on a 1-year deposit while the Bank of England Base Rate is 4.50%.
Would you like further information or to open an account?
Peter Hillyard, Customer Operations Manager
Peter Hillyard
Client Operations Manager
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Deposits at the Bank of England.
Security for sums greater than £85,000.
Easy and fast account opening.
Fees in Advance Deposits

Who are these accounts for?

Our School Cash Deposit Manager Accounts are suitable for any school in the United Kingdom.

We support schools in achieving the best returns for any cash balances they are holding, whether Fees in Advance or simply high cash balances at the beginning of term.

In particular, our accounts avoid the risks posed by the £85,000 FSCS limit because all of the funds are simply deposited liquid and unencumbered at the Bank of England, where they are held in cash and never loaned or used by any institution to make money. This means that charities with significant cash holdings can enjoy a great return on those funds but without any additional risk.

How does it work?

We are not a bank, but we have partnered with a technology company that is one - through them, we are able to open savings accounts at the Bank of England which pay a very high rate of interest, and at no risk.

The reason that there is no risk is that we hold your funds as bare trustee, and our banking partners hold those funds at the Bank of England, liquid and unencumbered, so they simply sit there safely, gathering interest.

Every other bank, even those that offer a greater rate of interest, is taking a risk with your money.  It sits on their balance sheet and is loaned out to other banking customers at a higher rate, which is how those banks make money.

What are your current rates?

Our rates are incredibly competitive:

1-year term
Type
Fixed-Term Deposit
Gross
3.85%
AER
3.85%
Annual Return on £10m*
£384,750.00
3-month notice
Type
Notice Account
Gross
3.65%
AER
3.70%
Annual Return on £10m*
£369,512.60
1-month notice
Type
Notice Account
Gross
3.44%
AER
3.50%
Annual Return on £10m*
£349,733.90

How do those rates compare to the private banks in the UK?

We frequently check that we are offering the best value we can. To a great extent, our ability to offer great rates is controlled by the Bank of England base rate - you receive a set share of that rate depending on how long you commit your deposit for, and we charge a small portion of that.

What we find, however, is that because our overheads are so much lower than the big banks, we are able to deliver far better rates on the equivalent basis than they can.

Are there any fees?

The rates we show on our interactive calculator show the return both before and after any fees. The rates shown above are shown after any fees, so that is how much gets paid into your account at the end of each interest period.

Our fee is 10% of the gross interest you earn, or around £9 per day per million that you have deposited.

In addition to this, for some accounts we charge a modest annual account management fee. See our Account Information below for details.

Tell me more about DOS & Co.

DOS & Co. is a well-known name in the private family office space in London.  We support entrepreneurs, wealth families and new and young wealth in all aspects of their 'back of house' lives, from legal services to escrow services, consolidated wealth-management reporting and third-party managed payments.

We are a Certified B Corporation and a founding Member of We are PRIME.

Our offices are in Central London and we are regulated by the Financial Conduct Authority for the provision of payment services.

In Action

Interactive Returns Calculator

Choose your deposit amount (from £1m+)
Enter the forecast Bank of England Base Rate
See your projected returns live in the calculator
There is no need to provide any email address or personal information. This illustration is for comparison purposes only - our rates flex with the Bank of England base rate, so your actual return may be less.

This is a zero-risk deposit at the Bank of England, and not an investment, so your money is not at risk.
Dashboard mockup

Private Bank-Beating Rates

Our interest rates consistently beat every single private bank in the UK, but with none of the hassle or risk.

Flexible Deposits

We offer various different deposit durations and work with you to plan your liquidity, maximising your returns with the right blend of accounts.

High-Value Protection

Your funds are held liquid and unencumbered at the Bank of England, giving you peace of mind on sums greater than the £85,000 FSCS limit.

White-Glove Service

Our service, while enhanced by our online 24/7 portal, is delivered on a white-glove basis, as private banking clients would expect to be treated.
Fees in Advance Deposits

Account Information

High-Interest School Savings Accounts
Fees
We charge an annual account management fee of £7,500 +VAT.
Eligibility
Any school in England and Wales, Scotland, or the Channel Islands may open an account.
See our Eligibility FAQ's for more information
Minimum Deposit
We require a minimum deposit of £1 million to open the account. This minimum balance must be maintained for a minimum of 3 months, after which you may withdraw some or all of your funds at any time, in accordance with the account's terms and conditions.

Still have questions?

Can’t find the answer you’re looking for? Please chat to our friendly team.