Beehive Money
Last Rated in Sep 2024
Beehive Money is a financial platform designed to help consumers save efficiently towards their financial goals. It offers a variety of savings accounts, including ISAs and fixed-rate options, supported by a user-friendly app. This institution is protected by the Financial Services Compensation Scheme, ensuring customer deposits are secure up to £85,000.
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Key Facts
Type: Building Society
Mobile Banking: Yes
Environmental Policy: No
Founded: 1849
Serving: Consumers
Local Branches: No
Products
Checking Accounts: No
Savings Accounts: Yes
Credit Cards: No
Mortgages or Loans: Yes
Business Lending: No
ISAs: Yes
Fees
Overdraft Fee: No
Account Maintenance Fee: Yes
Free ATM Network: No
Impact
Beehive Money focuses on savings and homebuying financial products. They offer a range of savings accounts including Lifetime ISAs aimed at assisting customers with saving for their first home, enhancing their commitment to long-term financial goals. Beehive Money is part of The Nottingham Building Society, which emphasizes ethical saving and support for financial growth.
Security
As a trading name of Nottingham Building Society, Beehive Money provides security under the same regulatory framework. Customers' funds are insured up to £85,000 by the Financial Services Compensation Scheme (FSCS). Their digital platforms promote secure account management features, safeguarding user data and transactions.
Service
Beehive Money offers a user-friendly app designed to manage savings on the go, featuring tools like goal trackers to help customers reach financial milestones. Customer service includes a comprehensive help center and various support channels, including social media interactions for a modern customer experience.
Accessibility
Beehive Money has a digital-first approach, allowing customers to open accounts and manage their savings online through a dedicated app. This may be particularly beneficial for tech-savvy users and younger demographics who prefer online banking solutions.
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