Two more banks, Investec and Arbuthnot Latham, have joined Octopus Investments’ cash management platform, Octopus Cash.

This takes the total number of banks on the platform up to ten, offering a diverse range of providers and an improved level of Financial Services Compensation Scheme (FSCS) coverage.

Launched in 2017, Octopus Cash offers fixed-term deposits of between 35 days and 24 months and now FSCS coverage of up to £765,000 or £1,530,000 for married couples.

The solution places customer deposits, with a minimum of £1,000, across multiple banks to get greater FSCS cover. At the end of the fixed-term ...