UK Money App News: June 2026

A quieter fortnight than the spring rate scramble, but three stories matter if you keep your money in an app. Cash ISA rates from the fintechs are holding firm, the FCA has switched on a new open banking payments scheme, and one of Revolut’s two founders is leaving the executive team.

Trading 212 holds the top easy access cash ISA at 4.76%

Moneyfacts’ weekly ISA roundup for 9 June shows the best easy access cash ISA rates still sitting with the apps rather than the high street: Trading 212 leads at 4.76% AER, Moneybox is a whisker behind at 4.75%, and Plum pays 4.46%. All three rates include a 12-month bonus, so the headline figure drops after the first year unless you move. Lifetime ISA rates have also pushed above 5% this week. With the annual cash ISA allowance due to be cut for under-65s from April 2027, savers have been filling ISAs early: £12 billion went in during April alone. If you are weighing an ISA against a taxable account, our cash ISA vs savings calculator does the after-tax sums, and our Plum review covers what the bonus-rate small print looks like in practice. Source: Moneyfacts weekly ISA roundup.

FCA launches the UK Payments Initiative for open banking payments

On 2 June the FCA announced the launch of the UK Payments Initiative (UKPI), an industry-led scheme built around commercial variable recurring payments (cVRP). In plain terms, it lets you authorise a provider to take payments that vary in amount, with limits you control, as an alternative to Direct Debits and stored card details. For users of budgeting, auto-savings and bill management apps this is the plumbing that future features will sit on: more flexible sweeps into savings, and recurring bills paid by bank transfer rather than card. The FCA also confirmed it will consult on a long-term regulatory framework for open banking before the end of 2026. Open banking already powers the account connections behind the apps in our budgeting apps roundup. Source: FCA statement.

Revolut co-founder Vlad Yatsenko steps down as CTO

Revolut’s chief technology officer and co-founder Vlad Yatsenko is stepping down from the role, the company confirmed on 4 June. He moves to a non-executive director seat on Revolut’s board from 1 July, with head of technology Donato Lucia taking over engineering as vice president of technology. Yatsenko was Revolut’s first employee and has run its technology since 2015, so this is the end of an era for the app’s original engineering leadership. For customers nothing changes day to day, but leadership stability is worth watching at a bank holding your money, especially one still bedding in its UK banking licence. Source: The Irish Times.