UK savings accounts for US citizens
UK savings accounts mostly open for US citizens. The interest is simple, the account is simple, and the only homework is on your side: the US taxes the interest and may want it reported.
A plain savings account holds cash and pays interest. Nothing about it troubles a US person at the provider end, so acceptance is wide; the same FATCA reporting that applies to a current account applies here, and most banks handle it without comment.
The catch sits on your tax return, not the application. The US taxes savings interest as ordinary income wherever the account is, and once your foreign accounts cross a combined balance the US wants to see them. Those reporting rules are the FBAR and Form 8938; the verdicts below are about who opens the account, and the tax pages explain what you owe and file.
See the FBAR for the $10,000 reporting line and FATCA for why the bank asks your US status.
Who accepts US citizens
Last checked 9 August 2026| Provider | Verdict | What to know | Last checked |
|---|---|---|---|
| Atom Bank | Opens | Atom opens its app-based savers to any UK resident aged 18 or over, with no US-person bar in the terms, and reports interest to HMRC and overseas tax authorities as required. The US taxes the interest as ordinary income. | 9 August 2026 |
| Chip | Opens | Chip opens its savings accounts to any UK tax resident aged 18 or over, with no US-person bar; the 'tax only in the UK' rule that blocks its cash ISA does not apply here. The US taxes the interest as ordinary income. | 9 August 2026 |
| NS&I | Opens | NS&I is backed by HM Treasury, and a UK-resident US person can hold Direct Saver, Income Bonds or Premium Bonds provided you keep a UK sterling account; Premium Bonds cannot be held while you are physically in the US. The US taxes the interest, and any prizes, as income. | 9 August 2026 |
| Tandem Bank | Opens | Tandem opens its savers to UK residents aged 18 or over who also hold a UK current account in their own name, with no US-person exclusion. The US taxes the interest as ordinary income. | 9 August 2026 |
| Chase UK | With strings | Chase opens its saver to a UK-resident US person but may follow up for more information after your tax self-certification, and you must be UK resident only; the pot sits behind a Chase current account. The US taxes the interest as ordinary income. | 9 August 2026 |
| HSBC Online Bonus Saver | With strings | HSBC opens this saver to a US person, but you need an existing HSBC UK account and must apply by phone rather than online because you hold more than one tax residency. Any withdrawal in a month forfeits that month's bonus, so it suits money you can leave untouched; the US taxes the interest as income. | 9 August 2026 |
| Marcus by Goldman Sachs | Skip | Marcus declines anyone who is a US tax resident, since it cannot meet the US reporting that would follow, so a US person is turned away at application. | 9 August 2026 |
| Zopa | Skip | Zopa requires sole UK tax residency and says applicants must not be a US citizen, so it will not open a savings account for a US person. | 9 August 2026 |
Provider by provider
Atom Bank
OpensAtom opens its app-based savers to any UK resident aged 18 or over, with no US-person bar in the terms, and reports interest to HMRC and overseas tax authorities as required. The US taxes the interest as ordinary income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with Atom Bank, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveChip
OpensChip opens its savings accounts to any UK tax resident aged 18 or over, with no US-person bar; the 'tax only in the UK' rule that blocks its cash ISA does not apply here. The US taxes the interest as ordinary income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with Chip, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveNS&I
OpensNS&I is backed by HM Treasury, and a UK-resident US person can hold Direct Saver, Income Bonds or Premium Bonds provided you keep a UK sterling account; Premium Bonds cannot be held while you are physically in the US. The US taxes the interest, and any prizes, as income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with NS&I, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveTandem Bank
OpensTandem opens its savers to UK residents aged 18 or over who also hold a UK current account in their own name, with no US-person exclusion. The US taxes the interest as ordinary income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with Tandem Bank, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveChase UK
With stringsChase opens its saver to a UK-resident US person but may follow up for more information after your tax self-certification, and you must be UK resident only; the pot sits behind a Chase current account. The US taxes the interest as ordinary income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with Chase UK, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveHSBC Online Bonus Saver
With stringsHSBC opens this saver to a US person, but you need an existing HSBC UK account and must apply by phone rather than online because you hold more than one tax residency. Any withdrawal in a month forfeits that month's bonus, so it suits money you can leave untouched; the US taxes the interest as income.
Source on file; last checked 9 August 2026.
If momo earns a commission when you open an account with HSBC Online Bonus Saver, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveMarcus by Goldman Sachs
SkipMarcus declines anyone who is a US tax resident, since it cannot meet the US reporting that would follow, so a US person is turned away at application.
Source on file; last checked 9 August 2026.
Zopa
SkipZopa requires sole UK tax residency and says applicants must not be a US citizen, so it will not open a savings account for a US person.
Source on file; last checked 9 August 2026.
Why this is the rule
FATCA
FATCA makes UK banks report accounts held by US persons to the IRS. It is not a tax; it is a reporting trail. Where it bites is access.
TaxFBAR
If your foreign accounts top $10,000 combined at any point in the year, you file an FBAR. What counts, when it is due, and what happens if you miss it.