Want £2,000 towards your summer plans?
Welcome to the Summer Savings Challenge, my 3-step plan to build a savings habit and get more out of Snoop. PLUS you could win £2k if you complete the challenge!
Step 1
For the first task I’m asking you to open a Snoop Easy Access Savings Account (4% AER variable, more detail below) and set a savings goal. You can apply to open the savings account through the app.
When you set an intention to put aside a certain amount each week or month, it can really help shift your mindset and keep you on track to reach your savings target.
Tip
If you don’t want to set aside the same amount regularly, you could try using my new Roundups feature, which lets you automatically round up your weekly transactions to the nearest pound and save that money.
Step 2
The second step is to build your budget. Set a budget in the app and make sure your savings are included in it.
A budget is useful because it can show you where your money's going, helping you feel more in control and making sure your important bills are covered.
Step 3
The third step is to activate Bill Protector in the app.
Bill Protector is a handy tool that helps ensure all your monthly bills are covered. I’ll monitor your connected bank accounts and expected income and bills. Then I can warn you if I don’t think you’ll have enough to cover payments that are coming out soon.
When you complete all 3 steps, I’ll put you in the draw to win a cool £2k in cash.
If you have a Snoop savings account and already have all the steps sorted, just login to Snoop at least once before the end of March and we’ll make sure you’re in the draw.
The competition closing date is 31 March 2026 and the winner will be picked in early April.
18+ and UK residents only. T&Cs apply.
Good luck!
Meet the Snoop Easy Access Savings Account (Issue 4)
- Earn 4.00% AER / 3.92% gross (variable)
- Set up and manage it all in the app
- Open an account from £1, save up to £120,000
- Interest calculated daily - watch your balance grow
- Easy access – get your money the same working day if you request before 11am, next working day if after 11am
- Set a savings target and make regular payments towards it, if you want to
- Financial Services Compensation Scheme protected – up to £120,000
- Your deposits will be held with Vanquis Bank Limited, which is part of the Vanquis Banking Group
- This account doesn’t come with branch access, so if that’s important to you this might not be the account for you
- 18+ and UK residents only
Summary box
Please read this Summary Box alongside the Snoop terms and conditions and Savings terms and conditions before applying.
Account name
Snoop Easy Access Savings Account (Issue 4)
What is the interest rate?
4.00% AER / 3.92% gross (variable)
Once your money is deposited, you earn interest daily. We credit this to your account each night or sometimes we credit a few days' interest at a time. But remember, you still earn interest daily even if it's not added to your account daily.
If the daily interest is less than 1p, we’ll include it in the next day's interest and add it to your account once the total reaches at least 1p.
Can Vanquis Bank Limited change the interest rate?
Yes, the interest rate is variable, so it can go up or down. This might be due to changes in market conditions (e.g. change in the Bank of England base rate, changes in competitors’ rates), costs of running Vanquis Bank Limited’s business or for ensuring consistency with new customers’ rates.
• If the rate increases, we’ll make the change immediately and then let you know.
• If the rate decreases, we’ll let you know at least 14 days before the change takes effect.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Original deposit: £1,000
Interest rate: 4.00% AER / 3.92% gross (variable)
Balance after 12 months: £1,040.00
This estimate is for illustrative purposes only. It assumes £1,000 is deposited in the account at the time it’s opened and no other deposits, withdrawals or interest rate changes are made.
How do I open and manage my account?
Via the Snoop App.
To open the account, you’ll need to be:
• 18 years or over • Tax resident in the UK only • Not a US Citizen
Joint accounts are not available.
The maximum balance for this account is £120,000 at any given time.
The minimum deposit is £1.
When applying, you’ll need to ‘nominate’ a current account that you’ve connected to Snoop and you’re named on. All deposits into your Snoop savings account must be made from this account and all withdrawals will be sent to this account. You can change which account is nominated via the Snoop App.
Deposit or withdrawal instructions made before 11am will be actioned the same working day. Any deposit or withdrawal instructions made after 11am will be actioned the next working day. No deposit or withdrawal instructions will be actioned on non-working days.
If you need more help – including how to open an account – email us at hello@snoop.app.
Can I withdraw money?
Yes. There’s no minimum withdrawal amount, and you can withdraw at any time without paying a fee.
When you withdraw, you’ll be shown the balance available to be withdrawn at that given moment. Any interest which has been calculated but not yet added to your account will not be withdrawn.
Additional information
The AER (Annual Equivalent Rate) shows the interest you could earn from a savings account over a year. It includes interest on the interest that’s added to your account over the year too (known as compound interest). The gross rate is just the flat rate of interest you’d earn and doesn’t factor in compound interest.
AER is useful because it allows you to compare savings accounts that pay interest at different times (e.g. daily vs annually).
Depending on your circumstances, you may have to pay tax on the interest you earn. You’re responsible for paying any tax due to HMRC. For more info go to gov.uk/apply-tax-free-interest-on-savings.
Your money will be held with Vanquis Bank Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
To provide the Snoop savings account, Snoop works with a partner called Bondsmith Savings Limited, which will manage the account for you behind the scenes. This means it will:
• arrange for any money you add to your account to be deposited with Vanquis Bank Limited • arrange for any withdrawals to be returned to you • calculate and add interest to your account in Snoop
Bondsmith is the trustee, and all money held in your Snoop savings account is held in trust for you (subject to the Snoop terms and conditions and the Savings terms and conditions).
You have the right to cancel and can close your account without charge at any time. You can cancel or close your account in the Snoop App or by emailing us at hello@snoop.app.
