Individuals aged 18 or older residing in the United Kingdom can open a LemFi Instant Access Savings account if they have a valid ID. This account, powered by ClearBank and specifically for UK residents, allows users to earn interest on GBP deposits with no fees.
What this means
To open a savings account, you must:
- be 18 years or older.
- be a resident of the United Kingdom
- have UK tax residency
- be a verified LemFi customer
- Have an active LemFi Remittance account to open a savings account.
Important to know
- It is not a current account for daily spending; it is for savings only.
- Funds can only be moved between your LemFi GBP wallet and your savings account.
- It must be in your name.
- If you meet the requirements, you’ll be able to open a savings account in the app.
- If you’re not eligible yet, you may need to complete verification.