Adding funds to your bank account is very fast and simple. You can do it in two steps.
Using our AI smart algorithms and your spending habits we will advise you how much you can safely put away on Depoway account. Of course, you are free to decide to follow our recommendation or to decide for yourself how you want to build your savings.
Adding funds to Depoway account is done by our payment processing partner TrueLayer.
TrueLayer is regulated by the UK Financial Conduct Authority under the Payment Services Regulations 2017 as an Authorised Payment Institution to provide account information services and payment initiation services (Firm Reference Number: 793171) and under the Electronic Money Regulations 2011 as an authorised Electronic Money Institution (Firm Reference Number: 901096).
Depoway and TrueLayer never store any information that can be used to access user bank account. If you want to learn more about TrueLayer please look here.
With us you will have the possibility to withdraw your money instantly, no matter which account type your money is held (easy access a/c, notice a/c, or fixed rate a/c). To do this we will realise part, or all, of your withdrawal request before we actually receives your money from the savings accounts in which this money is held. If, for any reason, we will not be able to provide this service to you, your withdrawal request will be realised on the maturity dates of these accounts.
We won’t charge you any fees for withdrawals and there are no restrictions on the numbers of times you can withdraw. It usually takes about one business day for your withdrawal to arrive in your bank account.