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Metro Bank is named St. James’s Place’s cash savings provider

14th November 2016

Metro Bank, the UK’s leading challenger bank, has today announced the launch of a direct savings offering for clients of St. James’s Place Wealth Management, strengthening the disruptor’s partnership with the UK’s largest wealth management group.

The new cash savings range is available online for clients and offered through the St. James’s Place Partnership. Clients will benefit from their banking information feeding directly into their wealth reports, providing them with not just a holistic view of their savings, but a convenient way to manage their whole savings portfolio.

Both St. James’s Place Partners and their clients will benefit from direct access to Metro Bank’s specialist SJP Service Centre, based in the City of London, which will manage the day-to-day service requirements.

The products available include:

  • St. James’s Place Instant Access Savings Account
  • St. James’s Place Fixed Terms Savings Account 
  • St. James’s Place Cash ISA (Instant Access and Fixed Rate)
  • St. James’s Place Trust Account (Instant Access and Fixed Term Deposit)

Paul Riseborough, Chief Commercial Officer at Metro Bank commented: “We’re delighted to be extending our partnership with St. James’s Place, by supporting their clients to manage their cash savings in a more convenient and straightforward way. Our ongoing relationship with St. James’s Place really demonstrates how new challenger brands can complement established players, in order to enhance customers’ experiences. We look forward to continuing to innovate alongside SJP over the coming years.”

Iain Rayner, Joint Chief Operating Officer at St. James’s Place said: “At St. James’s Place we recognise the importance of banking to our clients and are committed to developing a range of banking services to provide holistic wealth management.  We see Metro Bank to be an innovative banking Partner and have already developed the Money Management Account and Intergenerational Mortgage. We are excited to now offer a savings range that provides clients with a convenient way to manage their savings.”

The announcement follows the launch of the SJP-Metro Bank intergenerational mortgage earlier this year. The innovative mortgage range enables clients of St. James’s Place to support their children and grandchildren with purchasing a property, by increasing their relatives’ deposit through either gifting money or by providing extra mortgage security with a Secured Deposit Account. It also provides clients with the option of jointly applying for a mortgage with their relative, without being registered on the property deeds.