From Yahoo Finance: 2025-06-11 10:41:00

Paragon Bank and Moneyhub have launched a new savings app called Spring to combat “current account coasting” in the UK, where 29 million adults keep money in low-interest accounts. Spring offers a competitive 4.30% AER rate, integrates with existing accounts through Open Banking, and features no hidden fees or restrictions.

The app allows users to view balances, transfer funds seamlessly, and utilize savings pots and unlimited withdrawals. Paragon Digital Proposition head Guy Simmonds praised the app’s simplicity and app-to-app redirects. Moneyhub’s partnership provides connectivity and payment technology for a secure user experience with Open Banking payments.

Moneyhub Chief Commercial Officer Dan Scholey expressed excitement about partnering with Paragon Bank for Spring, emphasizing the importance of effortless money management. Standard Life collaborated with Moneyhub in 2023 to create a pensions dashboard for four million customers, accessing various pension types. The news was originally published by Retail Banker International.



Read more at Yahoo Finance: Paragon Bank launches new savings app