Leanne Macardle

Leanne Macardle

Editor
Published: 07/12/2018

At a glance

  • Ethical savings allow you to invest your money with organisations that will not place your savings with organisations or projects that may damage the environment, in gambling or in weapons.
  • You can also choose to save with organisations that actively invest in projects that make a positive difference to local communities and the environment.

Ethical banks and building societies in the UK

There is a small minority of truly ethical banks and building societies in the UK that offer such transparency and ethical lending commitments. They are:

  • Charity Bank
  • The Co-operative Bank
  • Ecology BS
  • Triodos Bank

 

However, it’s worth pointing out that Sharia’a compliant accounts also tend to operate under ethical principles, with the money held never being used to fund businesses that engage in unethical activities. These banks include:

 

  • Al Rayan Bank
  • Bank of London and the Middle East (BLME)
  • Gatehouse Bank

 

It is generally the case that you don't earn as much interest in an ethical savings account as in a non-ethical alternative – the exception being with Sharia’a compliant accounts, which often boast the top (or near-top) rates for their terms – but what you do get is peace of mind that every penny of interest you receive has been earned ethically.

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

stack of coins

At a glance

  • Ethical savings allow you to invest your money with organisations that will not place your savings with organisations or projects that may damage the environment, in gambling or in weapons.
  • You can also choose to save with organisations that actively invest in projects that make a positive difference to local communities and the environment.

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