Flagstone Expands Foreign Currency Savings Accounts for UK SMEs

Flagstone, a London-based cash deposit platform, has expanded its services to include US dollar and euro business savings accounts for its UK SME client base. The launch extends Flagstone's product range beyond sterling, enabling businesses to manage their GBP, USD, and EUR cash holdings simultaneously through a single platform.

The new accounts are provided by Bank partners National Bank of Egypt and IsBank, with available terms ranging from one month to seven years and a top rate of 3.83% AER as of August 12, 2026. All accounts are held with UK-licensed, FSCS-authorised institutions, ensuring the same depositor protection ceiling applies to foreign currency balances as sterling savings.

According to Katie Horne, bank partnerships manager at Flagstone, the company is addressing a well-documented commercial pain point in UK SME finance. Businesses that transact internationally often accumulate working cash in multiple currencies, held across separate banking relationships, resulting in operational burdens and idle foreign currency cash in low or zero-interest current accounts.

Flagstone's consolidation proposition enables businesses to manage their foreign currency cash through a single login, reporting view, and spread-and-stagger mechanism for optimising deposits across multiple institutions. The company estimates that approximately 1.05 million UK SMEs hold some portion of cash in foreign currencies, with 72% holding US dollars and 65% holding euros.