Capital on Tap, a leading all-in-one small business credit card and spend management platform, today announced a major expansion of its financial services with the launch of business instant access savings accounts. The move, powered by ClearBank’s embedded banking technology, marks the company’s evolution into a comprehensive financial solutions hub.
- Capital on Tap launches business savings accounts, offering market-leading interest rates
- Savings accounts are powered by ClearBank, and eligible deposits are FSCS protected up to £85,000
- Strategic expansion powers credit provider’s transformation to financial solutions hub
The new offering addresses a critical gap in the market where businesses traditionally face barriers to accessing competitive savings products. Capital on Tap’s Instant Savings account features unlimited deposits starting from £1, with no maximum balance restrictions, and zero monthly fees. All accounts are protected by the Financial Services Compensation Scheme up to £85,000.
“This launch represents a fundamental shift in how small businesses can manage their finances,” says Alex Miles, Chief Operating Officer at Capital on Tap. “By combining high-interest savings with our existing credit solutions, we’re creating a comprehensive financial ecosystem that directly addresses the market gap for integrated business banking services.”
The implementation, completed in just under 6 months from initial agreement to launch, demonstrates Capital on Tap’s agility in bringing innovative financial products to market. Following successful beta testing with selected customers in October 2024, the service is now available through Capital on Tap’s existing customer portal.
This strategic expansion builds on Capital on Tap’s impressive growth trajectory, with customers having processed over £10 billion in spending across the US and UK markets. The company recently achieved notable recognition, ranking #1 in the Fintech, Financial Services & Insurance category and #5 overall in the Financial Times’ inaugural Europe’s Long-Term Growth Champions 2025 list.
Alex Miles, Chief Operating Officer, Capital on Tap, said: “Small businesses have traditionally had to choose between easy access to their money and earning competitive returns. Through our strategic partnership with ClearBank, we’ve created a secure, instant-access savings solution that eliminates this compromise. This successful collaboration demonstrates our commitment to working with best-in-class partners to build the financial operating system that small businesses deserve, combining spending, saving, and rewards in one seamless platform.”
John Salter, Chief Customer Officer at ClearBank, said: “Collaborating with Capital on Tap to integrate secure and reliable savings accounts onto its portal has enabled the company to continue expanding its support to UK SMEs without compromising its seamless user experience. This partnership serves as another example of our growing embedded banking capability and we’re looking forward to building on the great results to date with further collaboration in the future.”
Capital on Tap makes it easy for small businesses to manage their business spending, access funding, and earn cashback, travel, and gift card rewards. Over 200,000 small businesses have spent more than £10 billion on their Capital on Tap Business Credit Cards across the US and UK. The company has achieved remarkable recognition, ranking #1 in the Fintech, Financial Services & Insurance category and #5 overall in the Financial Times’ inaugural Europe’s Long-Term Growth Champions 2025 list.
ClearBank is a purpose-built, technology-enabled clearing bank. Through its banking licence and intelligent, robust technology solutions, ClearBank enables its partners to offer real-time payment and innovative banking services to their customers.
ClearBank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 754568).
ClearBank Europe N.V. is authorised by the European Central Bank (ECB) and supervised by the De Nederlandsche Bank (DNB).
