Zero launches 'Planet Safe Saver' ethical savings account

MSE_Ben_T

Fintech app Zero's new 'Planet Safe Saver' account pays 3.66% AER (variable). It's currently the highest-paying easy-access 'ethical' saver, meaning it avoids funding fossil fuels, weapons, tobacco and similar sectors. It's not a top market rate, but 'ethical' accounts are something we're often asked about, and the rates are normally awful – so Zero having an OK rate is an improvement.

Read the full story here:

New top-paying 'ethical' savings account at 3.66% launched by Zero – here's how it compares

If you haven’t already, join the forum to reply.

ircE

It seems a bit odd to me the article repeatedly refers to this account as being the "top" account but makes no mention of other ethical accounts i.e. what it has beaten to be regarded as the top account.

The article defines ethical as not funding XYZ sectors, but surely this definition would also apply to most building societies? Yorkshire BS has a 3.90% account at the moment. 

Some banks not only exclude certain sectors, they also actively invest in "good" ones, like LHV Bank, which recently launched a 4.25% account.

Also, calling the rates on such accounts "normally awful" is quite harsh given the interest is often not the point. Some savings providers like Ecology BS explicitly say they avoid paying higher rates because they would rather attract savers who believe in what the institution is trying to do rather than rate-tarts.

I'm glad to see an article about ethical savings but if you are going to do stuff like this it would be nice to see more thought put into them.

WillPS

ircE said:

The article defines ethical as not funding XYZ sectors, but surely this definition would also apply to most building societies? Yorkshire BS has a 3.90% account at the moment. 

Would love to know your thoughts on this @MSE_Ben_T

j.p

The most rudimentary "current account" ever! But at least I can confirm that I managed to get money in and out, and that the virtual debit card works.

I'm not sure if I'll do the savings bit, though… Afraid that that'd require larger sums than dipping my toes into it, if it's gonna yield any interest, and I wasn't "screened" (investigated) as I applied for the account, I just sailed through, but perhaps when some money starts flowing around my savings I will… And who knows what they'll ask for, to unlock my money? LHV asked lots of questions about income upfront and then, when I refused to produce the long list of documents, they've refused my account. Would Zero also take KYC to that extreme? Who knows. I think I'll wait until I can find more reviews… Let someone else go through it first.

j.p

Selected highlights from today's Festive Greetings email from Zero:

• 20,500 registered customers

• £730K deposited in Planet Safe Saver accounts

• £4.89M current account inflows

• 97,000+ card payments, totalling £2.1M

• 1350 investors including crowdfunding, raising £2.2M

To whom I'm warming up very slowly... With no losses so far.
As so far they haven't had the audacity to freeze my account with my funds in it, as the likes of LemFi did!
At least LHV refused to open an account before I could put any money in it—kudos to them (though I don't have the honour).

Who knows? Zero might grow up to be the next Kroo.

j.p

Received an email regarding the closure of Zero, for everyone not just me, but not rushing to action in case it's an scam.

happybagger

Well their homepage says they are

"Zero has ceased trading and will be closing. Customers have been sent emails with more information"

j.p

Got to be double-careful these days… Pagers, traffic cameras, Zero apps… All can be hacked. Nowhere and no one is safe.

happybagger

Quite. Is it not possible to withdraw in the normal way, or is that now blocked?

gt94sss2

https://forums.moneysavingexpert.com/discussion/comment/81929378#Comment_81929378

From 23rd March 2026, you will be unable to spend any funds with your card. For ease, we advise you to use your card to withdraw your funds before this date. You should also notify any third parties who regularly credit your Personal Account with funds to make alternative arrangements as soon as possible.

We expect the Zero mobile app (where you log in to view and use your Account) to close on or around 31st March 2026. This means you will be unable to use the Zero app to manage your funds in any way once it closes and no incoming payments will be accepted into your Account. However, you will still have access to your funds after the Zero app stops working and you can arrange to have them sent to you by emailing Customer Services at zero@transactpay.com.