Squirrel - Worth it? or DIY?

[nanos]

@TheSilentHarp

The savings account is an E-Wallet hosted by Barclays. In the unlikely event that Barclays was to go bust, the FSCS protection would kick in.

Hm. They must open an account in your name with Barclays then? That would be extraordinary. Or is there another mechanism under which this would work?

[TheSilentHarp (Kenneth C Lawrence)]

To use it, you have to get your salary paid into a separate account (run by Barclays so don’t worry, it’s all legit) and it then releases the money gradually back into your current account so you don’t spend it all at once.

Eight money-saving apps you need in 2018 | The Independent | The Independent

I’m beginning to think they might, only they store the online banking details maybe? I don’t know, but Independent seem to think its all “legit” too, and “Provided by companies such as O2, London City Airport [4] and the NHS as an employee benefit[5][6]” - Squirrel (personal finance company) - Wikipedia