Summary
Sidekick's Auto Deposit Rate Boost scheme allows customers with a Multi Shield Savings account to earn an additional 0.2% interest rate boost on their full balance (up to a maximum of £60,000) when they set up and maintain a qualifying auto deposit of £100 per month into their account.
The 0.2% rate boost applies to your Multi Shield Savings balance up to a maximum of £60,000 from the date your first auto deposit lands in your account, and continues for as long as you maintain the auto deposit arrangement. Once you cancel your auto deposit, the rate boost ends and cannot be reclaimed. However, you will have a 7-day grace period to reinstate your auto deposit and restore the rate boost.
Eligibility
This scheme is available to all Sidekick customers, whether new or existing. You must hold a Multi Shield Savings account to be eligible. There is no minimum opening balance requirement. You can only benefit from this scheme once per customer. If you cancel your auto deposit and do not reinstate it within the 7 day grace period, you are permanently disqualified from this scheme and cannot reclaim the rate boost or open a new account to qualify again.
How It Works
Set up an auto deposit for £100 per calendar month into your Multi Shield Savings account. From the date you activate your auto deposit, the 0.2% rate boost is applied to your Multi Shield Savings balance up to a maximum of £60,000. The rate boost is applied to your balance for 12 months as long as the auto deposit remains active and £100 is deposited each calendar month. You do not need to maintain a minimum balance; the boost applies to whatever balance you hold at any time (up to the £60,000 cap), provided the auto deposit continues. The rate boost is applied to interest calculations daily and paid in accordance with your standard Multi Shield Savings terms.
Maintaining Your Rate Boost
To keep your 0.2% rate boost active, you must:
Keep your auto deposit active and set to £100 per month
Ensure the auto deposit is successfully processed each calendar month
If your auto deposit fails to process (for example, due to insufficient funds in your linked account), the boost will remain active. However, if your auto deposit fails to process twice or more within any 6-month rolling period, we may disqualify you from this scheme.
If you cancel your auto deposit arrangement deliberately, the boost ends immediately. You will have a 7-day grace period from the date of cancellation to reinstate your auto deposit. If you reinstate within this period, the boost will be restored. You will maintain any interest earned up to the point of cancellation but will not earn additional interest during the grace period. If you do not reinstate within 7 days, the boost ends permanently and you are disqualified from this scheme.
You may deposit additional funds to your account at any time beyond your auto deposit without affecting your eligibility.
Cancelling Your Auto Deposit
If you cancel your auto deposit, you have a 7-day grace period to reinstate it and restore your rate boost. During the grace period, your rate boost is suspended but not permanently lost. You will retain any interest earned up to the point of cancellation but will not earn additional interest. If you reinstate your auto deposit within the 7-day grace period, the 0.2% rate boost is immediately restored. If you do not reinstate within 7 days, the rate boost ends permanently and you are disqualified from this scheme. You cannot requalify or reclaim the boost. If you deliberately cancel more than once, we may treat this as misuse of the scheme and disqualify you entirely.
Anti-Gaming and Misuse
One Sidekick account per customer. If we find multiple accounts held by the same person, that person will be disqualified from this scheme.
You must not have previously held an active Multi Shield Savings account with Sidekick, regardless of whether that account has since been closed.
You must not use this scheme in a manner intended to circumvent, exploit, or game the terms. This includes, but is not limited to:
Cancelling and restarting auto deposits to reset eligibility or extend the scheme's application
Manipulating deposit patterns to avoid maintaining the auto deposit requirement
Using coordinated accounts, third-party arrangements, or any other method to obtain multiple rate boosts
Any attempt to duplicate, share, or misuse the scheme for purposes other than legitimate personal savings
We may withhold, withdraw, or correct the rate boost, including recovering any additional interest already paid, if we reasonably believe you're not eligible, there's been an error, or there's fraud, gaming, or misuse involved. We reserve broad discretion to identify and disqualify accounts engaging in any conduct we reasonably believe is contrary to the spirit and intent of this scheme, even if such conduct is not explicitly described above.
Withdrawing or Changing This Promotion
We may withdraw or change this scheme at any time. Customers will receive notice of any changes. Rate boosts already paid will not be affected, but changes may apply to new or continuing enrollments.
Other Important Terms
Tax: the tax treatment of this reward depends on your individual circumstances. We make no representation as to its tax treatment, and you're responsible for your own tax affairs. Seek specialist advice if you're unsure.
Sidekick's standard terms and conditions continue to apply in full and aren't affected by this scheme.
We aren't liable for delays, failures, or technical issues affecting the referral process, except where the law requires otherwise.
These terms are governed by the laws of England and Wales. If something goes wrong, we'll try to resolve it directly - this doesn't affect your right to complain through Sidekick's complaints procedure, or to refer a complaint to the Financial Ombudsman Service.
Sidekick Money Ltd is a company registered in England and Wales (No. 13882980). Sidekick Money Ltd is authorised and regulated by the Financial Conduct Authority (FRN 984829). Our address is 6-7 St Cross Street, London, EC1N 8UB.