Best savings apps in the UK – how to build a savings pot using your smartphone

5 min Read Published: 19 Feb 2020

The best savings account apps in the uk

Building up a sizeable savings pot can seem almost impossible at times and often the biggest hurdle is understanding your finances and knowing exactly how much you can put aside. Luckily, there are apps that are able to automate this process, providing a safe, simple and stress-free approach to saving money. In this article, we look at the best savings apps in the UK and provide a summary of the best features.

Best free apps to help you build savings

(that connect to your existing bank account)

Below is a list of apps that can help you to save money by connecting to your existing bank account. The apps analyse your spending habits and can automatically put money aside based on an algorithm. If you choose to save with any of the below apps, your money is saved in an account with the app and not with your bank.

Plum - Great for large savings targets

  • Analyses spending and suggests amounts to save
  • Saves money automatically
  • Set savings goals
  • Can adjust savings amounts based on 'moods'
  • Easily withdraw your money when goals are reached
  • Chat with Plum via Facebook or an App
  • Your money is kept in a virtual bank account with Payrnet
  • No interest on savings

Check out our Plum review

Tandem - Great for saving spare change

  • Automatic saving
  • Round up transactions to the nearest pound and save the change
  • Analyses and predicts a safe amount to save and moves it to your Tandem savings account and earn 0.5% AER
  • Set up a regular payment amount to save

Check out our Tandem review

Chip - Great for automatic saving

  • Automatically save money
  • Save without thinking using Artificial Intelligence (AI)
  • Set savings goals
  • Withdraw money at any time
  • Money isn't FSCS protected but is 'ring-fenced' in a Barclays account

Check out our Chip review

Cleo - Great for making saving fun

  • Automatically save money
  • Get notified when you're near your overdraft
  • Analyses spending patterns
  • Chat with Cleo via Facebook or an App
  • Set savings goals

Check out our Cleo review

Best paid-for app to build a savings pot

(connects to your existing bank account)

Squirrel saves your money in a Squirrel account that is separate to your existing bank account. It's a paid-for service (unlike the apps above) as it manages your cashflow for you ensuring your bills are paid, your savings goals are achieved and you don't overspend.

Squirrel - Great to stop overspending

  • Set savings goals
  • Automatic saving
  • No interest on savings
  • Withdraw money easily
  • Monthly subscription of £9.99 with the first 8 weeks free

Build up savings with an app-only bank account

(requires you to open a new bank account)

App-only banks allow you to save money via the app and even allow you to save whilst spending if you hold a current account with them. Below we have listed banks that have similar features to the savings apps listed above. As they are fully-fledged bank accounts, you also have the reassurance that your money is protected by the Financial Services Compensation Scheme (FSCS) or the German deposit protection scheme (in the case of N26).

N26 - Great for saving for a rainy day (no longer opening UK accounts)

  • Save money into 'Spaces'
  • Set saving goals
  • Track your spending
  • Saving money into spaces means you cannot access immediately
  • Easily withdraw money when you need it

Check out our N26 review. 

As of 15th April 2020, N26 is no longer operating in the UK so no new accounts are being opened and existing users have until the cut off date to move their money out of their account. Find out more information here.

Starling bank - Great for round-up saving

  • Set savings goals
  • Save in separate pots
  • Round up spare change from spending transactions
  • Analyse spending habits

Check out our Starling bank review

Monzo - Great for competitive interest rates

  • Set savings goals
  • Easily withdraw money
  • Round up spare change
  • Track your spending
  • Save with a fixed account and earn up to 1.54% in interest
  • Save with an easy access savings account and earn up to 1.15% interest

Check out our Monzo review

Looking for a financial adviser near you?

Do you need financial advice? An independent financial adviser can show you how to make the most
of your money. Find your nearest qualified and regulated adviser using this VouchedFor search tool.

Alternatively, Hargreaves Lansdown, one of the UK’s largest firms providing restricted financial advice, is offering a £200 John Lewis voucher* to new clients.