Who can open a savings account?

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.