Introducing Depoway — A Savings App Build with You in Mind
Are you keeping your savings in a traditional savings account with an unsatisfactory interest rate or worse, under your bed? Time to change that!
Depoway is a free savings app that launches at the end of 2020. You can join our waiting list right now. You’re probably asking yourself, why would I do that? 🤔 And you’re right to do so! Let’s take a look at the many ways Depoway is going to change the way you think about saving money💰
You want to actually save money by depositing funds in a savings account
It might sound glaringly obvious, but the main goal of a savings account is to actually earn some money from the funds you’ve deposited. In reality, high-street banks savings accounts give customers the lowest possible interest rates, meaning that they earn next to nothing.
We were frustrated with that approach, which is exactly why we figured out a way to let Depoway users earn much more with our app. How much more, you may ask? With Depoway you’ll be able to earn up to 100x more interest. The current average AER (Annual Equivalent Rate) in high-street banks is 0,01%, but you’ll earn up to 1,20% AER with Depoway.
Want to learn more about how it’s possible? Check out our FAQs.
You want a solution that’s always accessible
In a period when social distancing has become the new norm, we have become cautiously selective about leaving the house. Visiting the bank to take care of a savings account is hardly a top priority. While developing Depoway we took that into account (pun intended).
Every action that’s possible with Depoway, whether it’s setting up your free account, connecting your bank accounts or depositing money, can be done from the comfort of your sofa . The easy setup process allows you to create a Depoway account and start saving money within minutes.
The best part is that we won’t put any restrictions on the deposit amount required. You can start off with just £1.
You want to sleep soundly, knowing that your savings are safe
Ensuring the safety of our users’ funds has been our top priority since day 1. We want to provide the type of protection that would make us feel safe when using Depoway, especially given that the economy has taken a hit due to the pandemic.
Each user of Depoway has their funds protected by the Financial Services Compensation Scheme (FSCS). Our AI algorithm distributes your savings across different partner banks, each one of them is covered by FSCS protection with up to £85,000. Moreover, Depoway is in the process of becoming an agent of an e-money institution that is authorized and regulated by the by the UK Financial Conduct Authority (FCA),
Considering we are processing your sensitive data, we want to make sure it stays safe, which is why we have implemented 128-bit encryption that provides protection whatever you’re doing while using Depoway.
You want to do something good for the world
During the development process of Depoway, we came to the conclusion that we wanted to take this opportunity to do something good for the world. Consequently we have joined forces with One Tree Planted on a project that aims to improve the current situation in Australia, where the natural habitat was severely impacted by wildfires at the beginning of 2020.
Each person that joins our waiting list will ensure one tree is planted in Australia. It’s that simple. If you want to help further, we’ve got you covered — each social media share and friend referred via your unique link means another tree will be planted on your behalf.
Let’s help Australia together 🌱
These are the main features of Depoway, but there’s much more to love about our app! How about free deposits/withdrawals and smart recommendations for your savings goals?
Join our waiting list — get access to the latest news and plant a tree in Australia.
