Cater Allen Private Bank savings rates — compare every account, plus switch offers and guides

Who they are

Cater Allen is one of the longest-established private banking institutions in the United Kingdom, founded in 1816. It remained independent for around 180 years before being purchased in 1997 by Abbey National. Since 2004, Cater Allen has been a wholly owned subsidiary of Santander UK.

It operates as a specialist banking division within Santander UK, providing current accounts, savings accounts and deposit products - with a significant part of its activity conducted through professional intermediaries such as accountants, solicitors and financial advisers. Cater Allen also offers a wide range of specialist banking services designed for charities, clubs, trusts, pensions, executors and wrap platforms. It is not really a high-street name, and that is by design.

Savings and accounts

The bank provides banking and savings products to individuals, businesses and professional intermediaries. On the personal side, customers opening current accounts must make a minimum opening deposit of £5,000, and the private bank account is available exclusively to customers who have more than £100,000 deposited.

Although owned by Santander, Cater Allen has no physical branch presence. You cannot manage your account over the counter at a Santander branch, and all your needs must be managed online - and only through the bank's website, as there is no smartphone or tablet app. That is worth bearing in mind if you are used to app-based banking.

We do not currently hold any live savings rate data for Cater Allen on DepositScout, so we are not able to compare their rates here right now. The live figures shown on this page are always the most up-to-date source.

FSCS protection

Cater Allen Private Bank has its own banking licence , which is an important detail. Cater Allen is covered by the Financial Services Compensation Scheme guarantee, separately to Santander UK plc. In practice that means the money you deposit with Cater Allen Private Bank is protected by the FSCS up to a total of £120,000 per customer. For a joint account, that protection applies to each customer separately, giving a combined £240,000.

Is it right for you?

Cater Allen occupies a specific niche. It suits people who need specialist trust, executor or pension banking, or those working with a professional intermediary who introduces them to the bank. It is less suited to everyday savers who want a slick app experience or easy branch access.

If you are simply looking for the best rate on an easy access or fixed-term savings account, it is worth comparing what is available across the market. Use the live rates on this page to see how Cater Allen stacks up against the current best buys.