Scalable Capital review

The account pays a variable rate of 2.6%. Because the rate is variable, the headline figure moves with the bank's interest rate adjustment rather than being locked for a term. The savings category median on the comparison is 3.08%, so the offer sits below the middle of the field.

The easy access account has a minimum deposit of €0 and an unlimited balance, so you can open it with any amount and grow it without a cap. Interest is worked out daily and paid monthly, and the account carries no term to serve.

Deposits sit under EU DGS up to EUR 100,000, and the account is provided by Scalable Capital Bank GmbH, based in Germany and supervised by the Federal Financial Supervisory Authority (BaFin). The banking licence means the money is held as a bank deposit rather than a wallet balance or an investment.

Access is real time in the app, around the clock, and interest is worked out daily and paid monthly. The account is listed as easy access, so money can move as soon as it arrives instead of waiting out a term.

It suits euro savers who want a bank licence, deposit protection and app-based access, and who are content with a variable rate of 2.6%. It also suits people who keep a deposit fund for a while rather than chasing the highest headline rate in the category.

Scalable Capital was founded in 2014 and operates as Scalable Capital Bank GmbH from DE. The banking entity carries the Federal Financial Supervisory Authority (BaFin) registration, and the account is offered through the Scalable app rather than a branch network.

The 2.6% rate ranks 276 of 473 on headline rate, below the category median of 3.08%. On deposit size it ranks 1 of 370, so the account is among the easiest in the field to open.

Support runs on chat, email and help centre, so you reach the team by chat, email or the help centre rather than by phone. That suits people who prefer writing or chatting during the day, and it keeps every conversation inside the app.