- Hundreds of thousands face new NS&I tax billon May 11, 2021 at 9:11 pm
The tax trap was caused after state-backed National Savings & Investments changed the way its popular Guaranteed Growth Bonds worked two years ago.
- Act fast to bag a better bond: Handful of banks return to the marketon May 11, 2021 at 9:08 pm
Yesterday, Atom Bank raised the rate on its one-year fixed-rate bond to 0.85 per cent, while Shawbrook improved its deal to 0.75 per cent. At the start of May, the best rate was 0.63 per cent.
- Bellringers and bowlers caught in HSBC crackdown on money launderingon May 11, 2021 at 9:01 pm
Meg Hostler, founder of a Berkshire village club, the Finchampstead Handbell Ringers (pictured), says she was recovering from a throat infection when HSBC rang last year to clarify some information.
- Barclays shuts down reward scheme for customers who aren’t onlineon May 11, 2021 at 9:01 pm
Barclays announced that only customers who are signed up to online banking or the mobile app can benefit from the ‘Blue Rewards’ programme which offers cash prizes to members every month.
- Can app rescue the millions of us who still rely on cash?on May 9, 2021 at 3:19 pm
Using a phone app, the service – provided by Swiss company Sonect – allows someone to order up to £200 of cash that they can then pick up at a local shop.
- NS&I: Could a 2019 terms tweak cost you hundreds of pounds in tax?on May 7, 2021 at 3:23 pm
Hundreds of thousands of savers face the prospect of handing some of their savings interest to the taxman after two-year-old terms and conditions changes by NS&I begin to bite.
- Britain WILL keep its lockdown savings habit in 2021on May 7, 2021 at 6:45 am
Britons are expected to partially keep up their lockdown savings habit in 2021, the Bank of England said today, but in a blow for savers the base rate could stay at an all-time low for another two years.
- Packaged current accounts: Was yours useless in the pandemic?on May 6, 2021 at 6:29 am
There were more than 25,000 complaints about packaged bank accounts last year as Britons were left with monthly fees for perks rendered useless by the pandemic.
- How to save around the world: We share money tips billions swear byon May 5, 2021 at 2:09 pm
Around the globe you’ll find an exotic mix of theories on how best to manage your cash. Here we explain the different money-management methods millions swear by.
- Savers missing out on £1bn a year by leaving cash in current accountson May 5, 2021 at 7:52 am
The amount in bank accounts has soared by nearly 30 per cent over the past year after ‘accidental savers’ benefited from spending far less during the pandemic.
- Saver wins Premium Bond jackpot after just two months of waitingon May 4, 2021 at 2:22 pm
A Surrey saver has become only the 21st Premium Bondholder in the 64-year history of the draw to win the £1million jackpot within the first two months of buying one.
- Barclays clears the way for new fees if
rates go negativeon May 2, 2021 at 3:23 pm
Under the changes, Barclays can introduce a new cap on the amount of money customers can hold fee-free in any account. It can then start charging customers who hold deposits above that level.
- Proof a cash machine can help boost businesseson May 2, 2021 at 2:00 pm
Thanks to requests from local firms and residents along Bishopthorpe Road, a high street just outside York’s city walls, a new cash machine was installed – and everyone is reaping the benefit.
- Queues at half-open banks continue to blight Britonson April 30, 2021 at 11:01 am
Britons have had to queue at their local bank for up to an hour with death certificate papers and to pay in coins as reduced opening hours and branch closures cause havoc in some towns.
- Will Sainsbury’s supermarket bank bounce back after £21m loss?on April 30, 2021 at 6:43 am
The banking arm of Britain’s Sainsbury’s delivered a rotten set of results as it revealed the previous year’s £48million profit had turned into a £21million
- Which banks are winning the current account switching war?on April 29, 2021 at 10:52 am
The number of people swapping current accounts between January and March using the official switch service fell by over 27 per cent on the previous three months, data shows.
- Royal Mint carves a 10kg gold coin which sells for ‘six figure sum’on April 29, 2021 at 1:06 am
The Royal Mint has unveiled the largest ever coin in its 1,135-year history, a gold-plated piece with a hefty weight and an even heftier price tag.
- Banks begin sharing locations with a different branch opening each dayon April 28, 2021 at 8:08 am
Rather than their bank having a 24/7 presence on the High Street, residents of the Essex market town of Rochford have been given their local branch back for one day a week.
- The banks that grow trees as well as your savingson April 28, 2021 at 8:02 am
National Savings & Investments will launch an account that helps the planet this summer, but other banks and building societies have been quicker off the mark.
- Protect cash by law – or it could be history in monthson April 26, 2021 at 12:26 pm
Some experts now fear that unless the Government acts soon, the country’s cash system could collapse within the next 12 to 24 months.
- The search is on to find the best children’s personal finance teacherson April 26, 2021 at 12:20 pm
A prize pot of £25,000 will be shared among the winning teachers’ schools, and the first 250 teachers who enter the awards will receive a £50 Amazon shopping voucher.
- When will the bank branch opening hours go back to normal?on April 26, 2021 at 8:46 am
Business and personal banking customers have reported queues as they cram trips to bank branches into short periods of time, despite shops reopening their doors since 12 April.
- How the pandemic is changing how we save and investon April 23, 2021 at 4:09 pm
The past year of lockdowns and job losses is having an impact on people’s attitudes towards their hard-earned money – they plan to save more but also gamble a bit more with those savings.
- Cambuslang pins cash hopes on a shared bank branch run by the Post Officeon April 23, 2021 at 10:43 am
Cambuslang, 6.5 miles outside Glasgow, is one of eight areas across the UK taking part in a six-month experiment to determine how to safeguard access to physical cash for those who need it.
- Best inflation-beating savings rates: Make your money work harderon April 21, 2021 at 11:40 am
Inflation is very important for everyday savers. If the rate paid on savings is below consumer price inflation, savers are almost certain to be losing money in ‘real’ terms. We crunch the numbers each month.
- Cash savings websites offer huge rates booston April 21, 2021 at 11:31 am
Cash savings websites have become increasingly popular among starved savers. But City watchdogs warned last week that firms are not being clear enough about exactly how these services work.
- More misery for embattled savers with rates at an all-time lowon April 21, 2021 at 9:02 am
Savers have the choice of just 1,340 accounts while average rates have fallen yet again. The average easy access account now paying 0.16 per cent, against 0.51 per cent a year ago.
- HSBC boosts its £125 current account switching offer with Uber Eats voucheron April 20, 2021 at 4:10 pm
Current account users considering a change will be tempted this week by HSBC’s improved switching offer.
- Three in four Britons don’t trust online bankingon April 18, 2021 at 11:30 am
Some 76 per cent said they ‘lack trust towards using their banking services online’, according to a survey by security software company SmartSearch.
- Kent Reliance launches best buy 0.45% cash Isa after Marcus launchon April 16, 2021 at 4:06 pm
Kent Reliance this morning launched a best buy easy-access cash Isa as banks and building societies begin to react to Marcus Bank’s move 48 hours ago.
- Best savings: How to get Chip’s 1.25% easy access rate and a £10 bonuson April 16, 2021 at 2:24 pm
Savers with £10,000 can get access to a savings deal paying more than three times the best buy rate available on an easy-access account with a This is Money bonus.
- Markets addicted to inflationary monetary policy have central banks over a barrelon April 16, 2021 at 11:42 am
Markets have become so dependent on ultra-loose monetary policy, so hyper-sensitive to any possible change in conditions, that there is little authorities can now do to avoid the dreaded taper tantrum.
- Government refuses to back proposals to try and fix Child Trust Fund lockouton April 16, 2021 at 10:05 am
Plans to make it easier for the parents of disabled children to access locked CTF and Junior Isa savings suffered a setback after the Government refused to back them in Parliament.
- Best cash Isas: Marcus Bank opens its doors to everyone a week after launchon April 14, 2021 at 3:26 pm
All rate-starved savers can now benefit from Marcus Bank’s near-best buy Isa after it launched a full-scale assault on the Isa market.
- Best cash Isa rates: Marcus Bank fails to spark a tax-free rate waron April 13, 2021 at 2:00 pm
The new tax year and the launch of Marcus Bank’s Isa has failed to spur a revival in tax-free savings rates, with returns actually lower than they were at the start of March.
- Save our cash by letting banks share abandoned high street branches, says banking guruon April 11, 2021 at 11:13 am
Four in 10 bank branches could close by the end of the year – but Natalie Ceeney says turning some into shared ‘banking hubs’ could breathe life back into struggling communities.
- Plan for stores to offer cashback without shoppers having to buyon April 11, 2021 at 9:37 am
An amendment to the Financial Services Bill, due to be debated tomorrow in the House of Lords, could pave the way for people to get cashback from local retailers without first having to buy something.
- Tory and Labour peers put forward plan to fix Child Trust Fund lockouton April 10, 2021 at 6:47 am
An industry-devised workaround to allow the parents of disabled children access to otherwise-locked Child Trust Fund savings without having to go to court could be given legal backing.
- Oxbury Bank launches savings account to plant trees with your interest paymentson April 8, 2021 at 6:46 am
Britain’s first agricultural bank in 100 years has launched a new best buy one-year fixed-rate bond, except for one catch: None of the interest will be paid to savers.
- Maximise your £20,000 Isa allowance by ditching the big bankson April 7, 2021 at 8:09 am
For those keen to invest in cash savings accounts, it’s slim pickings as far as top rates are concerned. But there is a wide disparity between the best and the worst deals available, so it pays to shop around.
- Would you spy on granny’s financial transactions? Debit card launched to prevent financial abuseon April 6, 2021 at 2:05 pm
GuardianCard has launched a debit card that can be used by a trusted family member or carer to manage an elderly person’s finances. But is it the cheapest on the market and is it fool-proof?
- Best cash Isas 2021: Where to get the best cash Isa rates and dealson April 6, 2021 at 10:22 am
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
- Yorkshire BS boss Mike Regnier nets £226,000 bonuson April 4, 2021 at 8:13 am
Our research shows that 23 building society bosses received bonuses last year, ranging from £3,000 to a staggering £226,000. These were paid when many customers were struggling financially.
- Could you get lucky with a lottery-style savings account?on March 31, 2021 at 8:29 am
With interest rates close to zero, a savings account that offers the chance to win big is sorely tempting – but it may not pay in the long run.
- Best cash Isas: Marcus Bank finally launches a tax-free savings accounton March 30, 2021 at 11:01 pm
Marcus Bank has livened up Isa season by announcing it will launch a tax-free cash savings account, nearly two years after it first hinted it would enter the Isa market.
- Small banks have the happiest customerson March 28, 2021 at 10:30 am
Analysis of feedback and complaints data conducted by Fairer Finance shows that big brands such as Halifax, Nationwide, HSBC and NatWest have struggled to meet customers’ expectations.
- Government says it’s up to the courts to fix disabled Child Trust Fund lock outon March 26, 2021 at 11:58 am
Justice minister Lord Wolfson told Parliament on Thursday the Government believed ‘working through the Court of Protection’ was the way to resolve the problems affecting up to 200,000 disabled children.
- CTFs: Government faces another grilling over disabled children lock outon March 25, 2021 at 8:44 am
Former Tory ministers Baroness Altmann and Lord Young are among those questioning the Government’s progress towards fixing Child Trust Fund problems affecting 200,000 disabled children.
- Santander savers set to lose out as bank announces string of rate cutson March 24, 2021 at 8:54 am
Santander is slashing the rate on its Easy Isa from a lowly 0.1 per cent to a derisory 0.01 per cent. The move will hit loyal customers who have built up £40,000 in savings.
- Tips to save more: Work out your hourly salary, budget and automateon March 22, 2021 at 3:52 pm
Households have built up £180billion in extra savings this year. But now we’ve got into better savings habits, how can we maintain them for the long term?
- Junior Isas: How to save for a child to give them a bumper pot of cashon March 20, 2021 at 8:25 am
33-year-old Ben Geldeard and his wife, Laura, have opened a tax-free investment account for their newborn baby, George, to save for his future.
- A Lifetime Isa could give your savings a boost but beware the traps on March 18, 2021 at 10:22 pm
You can save up to £4,000 a year and get a 25 per cent bonus worth up to £1,000, but unless you are buying a first home you cannot get your cash until you are 60 without penalty.
- Cash Isas: Are they still worth having?on March 18, 2021 at 10:41 am
While savings rates may have fallen, it would be unwise to abandon cash altogether. Each year, savers plough millions into tax-free cash Isas. But the once-popular accounts have lost their sparkle.
- NS&I reveals full scale of customer service woe during the pandemicon March 17, 2021 at 5:12 pm
Chief operating officer Matt Smith provided the figure during a hearing that saw three of NS&I’s most senior employees grilled over the beleaguered Treasury-backed bank’s performance last year.
- Watch your children’s savings grow: Junior Isas are now more generouson March 17, 2021 at 9:25 am
Britain’s children have a total of about £5bn in 954,000 Junior Isa accounts. And this is set to grow after the Chancellor doubled the annual allowance to £9,000 last April
- Banks pull together to stay open with shared brancheson March 17, 2021 at 8:47 am
Experts hope the new bank hubs will provide a lifeline for customers and small businesses in some of the worst-hit areas. They will offer counter services run by the Post Office.
- Best savings rates: Nationwide pays 1% on a cash Isaon March 16, 2021 at 3:16 pm
Britain’s largest building society is single-handedly trying to save Isa season with the launch of a new best buy tax-free savings account which offers those transferring in £10,000 a £50 welcome bonus.
- Best savings rates: Marcus Bank cuts market-leading account to 0.4%on March 16, 2021 at 10:42 am
The Goldman Sachs-backed bank has cut the rate from 0.5 to 0.4% this morning for newcomers and will do the same for its over 500,000 existing savers in a fortnight’s time.
- Cash machine withdrawals fall 43%, but Britain no cashless societyon March 16, 2021 at 10:28 am
The pandemic has seen three quarters of Britons use less cash, but millions still rely on physical money to pay for things, new data suggests.
- How you can ensure you select the best cash Isaon March 14, 2021 at 2:23 pm
Cash Isas have been a favourite among British savers since their launch 22 years ago. More than eight million people pay into one every year.
- Savings rates: One in five think they have risen in the last yearon March 13, 2021 at 7:59 am
It may be a year on from the deepest Bank of England base rate cuts on record, but only a third of Britons know that savings rates have fallen since then, and more than a fifth think they’ve risen.
- What has happened to mortgage and saving rates since the base rate cut?on March 11, 2021 at 5:16 pm
Bread and butter savings rates have fallen by seven tenths, but many mortgage borrowers have barely benefited since the Bank of England cut its base rate to an all-time low last year.
- Lifetime Isas: Penalty to go back to 25% again soonon March 11, 2021 at 2:29 pm
Hard-up first-time buyers who need to raid their Lifetime Isa savings will be charged their own money to do so to ‘discourage withdrawals’ and ‘protect its status as a long-term savings product’.
- 16m NS&I customers will lose their Premium Bond postal prizeson March 10, 2021 at 9:00 am
In justifying the decision to stop sending prizes in the post, National Savings and Investments had said that nearly three-quarters of its prizes were paid directly into bank accounts or reinvested.
- Britain will ditch its lockdown savings habit as it goes on £45bn spending spreeon March 9, 2021 at 5:07 pm
British households could be set to save less money than they did before the pandemic over the next five years as the country embarks on a £45billion spending spree, it has been forecast.
- Wyelands Bank ordered by Bank of England to pay back all 4,000 saverson March 5, 2021 at 12:34 pm
Holders of Wyelands’ 35 and 95-day notice accounts will be paid until the end of the notice period and savers who held fixed-rate accounts will be paid up to the end of their term.
- New NS&I ‘green bonds’ likely won’t pay savers best buy rateson March 4, 2021 at 2:37 pm
The Treasury’s much anticipated ‘green savings bonds’ look set to be a major disappointment for rate-starved savers, amid projections that they could raise just a few billion pounds.
- M&S Bank current account closures: Where to head nexton March 4, 2021 at 2:09 pm
The bank, half-owned by the supermarket and HSBC, said a small percentage of its 3m customers will be affected by the change, which has come out of the blue to account holders.
- Treasury plans to reintroduce Lifetime Isa withdrawal penalty in Aprilon March 4, 2021 at 9:14 am
Aspiring first-time buyers will again be charged their own money to raid their house or retirement deposits if they run into financial difficulty and need access before they can claim benefits.
- NatWest boosts regular savings account with £10,000 prize drawon March 3, 2021 at 9:01 am
Savers opening its Digital Regular Saver this month and adding between £1 and £50 in April, May and June will qualify. There will be ten prizes of £1,000 each. You can earn 3 per cent on the first £1,000.
- Would you tell your bank when you go jogging? Welcome to ‘wellness banking’on March 3, 2021 at 8:56 am
Would you want your bank to know how many steps you’ve walked today or whether you got around to going for your weekly jog? What if it was promising you vouchers or cash as a reward?
- Green savings account from NS&I: What rate could they pay?on March 1, 2021 at 10:02 pm
The Chancellor will use some of Britain’s £143billion worth of lockdown savings to fund the country’s green recovery from the coronavirus pandemic, the Treasury has revealed.
- Isas: Rishi Sunak urged to use the Budget to fix Britain’s broken systemon February 25, 2021 at 9:35 am
The Chancellor should use next week’s Budget to simplify the Isa system and scrap the trend of having one for ‘almost every day of the week’, savings industry experts have said.
- Mobile wallets like Apple Pay made up more online purchases than debit cards in 2020 on February 25, 2021 at 8:35 am
An eye-opening new report from the payment processor Worldpay found so-called ‘mobile wallet’ payments were used for just under a third of all online transactions in 2020.
- TSB’s new ‘Premium’ current account pays customers less cashback than its free versionon February 24, 2021 at 2:37 pm
TSB has launched a new cashback-paying current account with a monthly fee which wipes out 60 per cent of what its holders can earn.
- £400m in Child Trust Funds opened 18 years ago waiting to be claimedon February 24, 2021 at 9:06 am
Teenagers are sitting on £400m in childhood savings they may not know exist. Around 200,000 Child Trust Funds are still waiting to be claimed – with an average of £2,000 in each, figures reveal.
- Yorkshire Building Society offers loyal members a top rate of 3.5%on February 24, 2021 at 9:01 am
The society’s Loyalty Regular Saver, launched yesterday, runs for 12 months but allows you limited access to your money. You can make withdrawals during the term on one day only.
- Don’t get locked in to a dud deal when your fixed bond matureson February 24, 2021 at 8:58 am
Most banks and building societies move your cash into an easy access account when your bond matures. But some reinvest your money in new fixed bonds which pay as little as 0.1 per cent.
- NS&I power outage left savers locked out of online banking on Mondayon February 23, 2021 at 2:12 pm
A ‘technical issue’ which affected the Treasury-backed bank for most of yesterday meant many of its 25m savers were locked out, while customer services could not help over the phone either.
- Lifetime Isa: Petition for penalty to be reduced permanently gets 16,000 signatureson February 22, 2021 at 11:19 am
The Government has been forced to address plans to begin charging aspiring first-time buyers their own money to raid their house deposits if they run into financial difficulty.
- How could Sir Keir Starmer’s British Recovery Bonds work?on February 19, 2021 at 11:58 am
In an attempt to channel the spirit of Clement Attlee’s Labour Government in 1945, Sir Keir Starmer announced a proposal to allow Britain’s savers to fund the coronavirus recovery.
- Why do I have to wait to go to court to access my daughter’s Child Trust Fund?on February 19, 2021 at 8:10 am
Tammie Squire has saved thousands of pounds for her daughter Hollie, who has a rare gene mutation, which neither will not be able to access when she turns 18 in October.
- Aviva Save: Investment giant launches a cash savings platformon February 17, 2021 at 12:12 pm
Britain’s largest insurance firm’s answer to the likes of Hargreaves Lansdown Active Savings and Flagstone has opened with 15 fixed-rate bonds offered by Aldermore, Oaknorth and Paragon Bank.
- Inflation unmasked: How it affects your savings and why it matterson February 17, 2021 at 11:56 am
Savers with cash languishing in accounts with dismal interest rates will be all too aware that times are tough at the moment, and rising inflation is not helping.
- New Mr Men coins: How much do they cost and will they be in your change?on February 16, 2021 at 10:45 am
The Royal Mint has kicked off its latest commemorative coin collection featuring characters from children’s books with the launch of a £5 piece picturing Mr Happy from the Mr Men.
- Best current accounts: First Direct brings back £100 switching bonuson February 16, 2021 at 8:25 am
First Direct has brought back its £100 switching bonus for newcomers as the bank looks to snap up current account customers after closing to new applicants for a large portion of last year.
- Ministers again refuse to back proposals aimed at helping disabled trust fund saverson February 15, 2021 at 12:22 pm
Justice minister Lord Wolfson said the Government would not be giving its blessing to private sector schemes after the new proposals were unveiled late last week.
- Save money AND win a cash prize while you’re doing iton February 14, 2021 at 9:31 am
‘Prize draws can make saving sexy in a way it really isn’t at the moment’, says behavioural scientist Joe Gladstone. Growing numbers of savers are now winning cash sums in monthly prize draws.
- Is click and collect money the answer to Britain’s cash crisis?on February 14, 2021 at 9:28 am
In Switzerland – where access to cash is a similar challenge – an innovative solution has been found, and it is set to be trialled in the UK from next month.
- Oxbury Bank opens its doors to savers with competitive rateson February 11, 2021 at 8:49 am
Britain’s first bank in 100 years to lend money solely to farmers has opened its doors to everyday savers with a range of competitive deals, This is Money can reveal.
- How the banks are betraying start-up firms just when we need them moston February 10, 2021 at 9:10 am
Aceil Haddad (pictured), a businesswoman who has banked with Santander for 20 years, was ‘flabbergasted’ when the bank refused to allow her to apply for a business account this month.
- Best savings rates: Marcus re-opens paying a top rate of 0.5%on February 10, 2021 at 8:44 am
The Marcus rate is more than double what you can earn with the average easy-access deal on offer. Experts hope its re-entry could help revive returns elsewhere.
- Child Trust Fund proposals offer hope to families of disabled childrenon February 8, 2021 at 8:56 am
The parents of as many as four in five disabled children currently unable to access their Child Trust Fund savings may no longer have to go to court to get access to the money.
- HSBC current account switching bonus of £125 returnson February 8, 2021 at 8:40 am
HSBC has relaunched its banking bribe after suggesting in October it could start charging for basic banking services in Europe.
- Record amounts of money pulled from cash Isas in second half 2020on February 6, 2021 at 9:27 am
In my early days as This is Money savings reporter, cash Isas were launched at a frenzied pace, especially either side of the new tax year in April. It was hard to keep up.
- Britons trying to make overseas payments find them blocked after Brexiton February 6, 2021 at 8:33 am
Britons trying to pay overseas direct debits and send money to banks and companies in Europe are having their transactions blocked as Brexit continues to cause hurdles and headaches.
- Five families reveal how they’re going to spend lockdown savingson February 4, 2021 at 12:27 pm
As lockdown life continues to take its toll, there is a silver lining for some, at least. With little for us to spend our money on, many people’s bank balances have received a welcome boost.
- How Covid has been the nail in the coffin for many local bank brancheson February 3, 2021 at 10:10 am
Our survey of more than 1,000 customers reveals most of us still rely on our High Street bank but we are being driven away by branch closures and a push towards online banking.
- Savings have beaten investing with every High Street lender since 2011on February 3, 2021 at 9:44 am
A £10,000 investment made with Britain’s banks in January 2011 would now be worth £6,254.24. The same amount put in the average easy-access account would have now grown to £10,577.55.
- Why was I left waiting for a £5,000 transfer from Barclays for months?on February 2, 2021 at 7:17 am
Loretta Marshall, from Worcestershire, began trying to get the money back from a dormant savings account last August, but Barclays continued changing its mind on how she could.
- Sending money overseas: The currency mark-ups by big banks revealedon February 1, 2021 at 4:53 pm
HSBC, Nationwide Building Society, NatWest and Santander were accused of not making it clear that they charged mark-ups on payments which could cost up to €51 when converting £1,000.
- Premium Bond winners: Saver scoops 1,900% return on lockdown investmenton February 1, 2021 at 12:12 pm
Turning £50,000 into £1m, which three out of the last four jackpot winners have done, represents a 1,900% return for the lucky lockdown saver.
- Banks defy watchdog’s plea – and just carry on shutting brancheson January 31, 2021 at 1:17 pm
Barclays, Lloyds and TSB have all confirmed that their plans to shut between them more than 160 branches in the first three months of this year will not change as a result of the regulator’s appeal.
- What could JP Morgan’s new digital bank pay British savers?on January 30, 2021 at 7:59 am
The new bank set to be launched in the UK by JP Morgan Chase over the next few months could upend Britain’s current account market but is unlikely to be a saviour for savers, experts suggested.
- US lender JP Morgan to launch a digital bank in the UKon January 28, 2021 at 1:15 pm
It will be JP Morgan’s first banking product in the UK for normal current account holders, and it follows in the footsteps of its major rival Goldman Sachs, which launched its Marcus bank in 2018.
- How are Sharia banks Al Rayan and Gatehouse paying the best savings rates?on January 28, 2021 at 1:04 pm
Al Rayan tops our one-year fixed-rate tables with a 0.85% deal that beats its closest competitor by 0.2 percentage points, while it and Gatehouse compete for the top spot on other savings accounts.
- Halifax gains 22,000 current account customers after £100 summer sweeteneron January 28, 2021 at 12:31 pm
Current account switching continued to bounce back in the last three months of 2020 as customers took advantage of three-figure switching bonuses from Britain’s biggest banks.
- Fill your car up with contactless? Limit could soon be upped to £100on January 27, 2021 at 4:41 pm
The proposed move would mean British families would be able to pay for their average weekly grocery bill, £56.60 in 2019, or fill up a 55-litre Ford Focus, which costs around £65, without a Pin.
- How NS&I failed to give older savers a voice over Premium Bond chequeson January 27, 2021 at 8:58 am
The state-backed savings giant has been accused of abandoning older customers in its drive to axe prize warrants to save money and paper by only consulting customers with an email about the change.
- A lost decade for cash Isa savers as inflation outstrips interest on January 27, 2021 at 8:50 am
Savers who put £10,000 in the average tax-free cash Isa ten years ago would now have £9,772, new research shows. This is because inflation has outstripped the interest earned on savings.
- NS&I boss apologises to savers for customer service meltdownon January 22, 2021 at 8:03 am
Ian Ackerley blames an increase in customers, the pandemic, cuts to interest rates and the decision to phase out Premium Bond prize cheques for soaring wait times and a rise in complaints.
- Best savings accounts: Where can I beat inflation?on January 21, 2021 at 9:57 am
The new year has brought the same old problems for savers as they continue to struggle to find accounts which keep up with the rising cost of living.
- Building societies paying up to 1.65% while big banks offer just 0.01%on January 20, 2021 at 2:27 pm
Money is still pouring into easy-access accounts, figures showed this week. In November, the nation’s savers added a further £12.9 bn, boosting the total in easy-access accounts to £858bn.
- Forget diets, here’s clever ways to pile on pounds! on January 20, 2021 at 12:12 pm
If you want to become a better saver this year, we’ve outlined some innovative ways to help the pennies and pounds stack up. Stick to them and you could save between £668 and £1,456.
- Santander cuts interest rate on its 123 current account againon January 18, 2021 at 9:43 am
Customers will earn just 0.3% interest, down from 0.6% currently and from 1.5% this time last year, although the bank has not made any cuts to the cashback it pays customers this time.
- European banks hike international payment fees for British expatson January 18, 2021 at 9:02 am
Customers of some of Britain’s biggest banks living in Belgium, Italy (pictured) and the Netherlands have either had their accounts closed or will see them shuttered in the next few weeks.
- The five rarest 50p coins revealed including Kew Gardens and Olympics oneson January 18, 2021 at 8:51 am
The Royal Mint has struck a special 50p coin to celebrate 50 years since decimalisation. This coin won’t be released into circulation, but what are the rarest and most valuable ones which have?
- Business deposits at the Post Office fall 27.4% in Decemberon January 12, 2021 at 11:56 am
Some £788m was paid in over the counter by businesses last December, down 27.4% on the nearly £1.1bn deposited in the same month in 2019.
- Year in Monzo: Bank’s customers reveal how they’ve saved moneyon January 12, 2021 at 11:32 am
Rachel Jobes, Roberto Dias and Jade Hilder are among the millions of Monzo customers who’ve used the bank’s budgeting features to stash away spare change and save money.
- Britain predicted to keep saving record sums during the third lockdownon January 12, 2021 at 8:04 am
Britain’s transition into a nation of accidental savers will continue during the third national lockdown, experts predicted, although rising unemployment may mean the amount saved is lower than last year.
- New cash fear as 167 bank branches set to be axedon January 11, 2021 at 5:38 pm
Experts fear that unless urgent action is taken by banks, payment providers, regulators and the Government, the country’s network of free-to-use high street banking facilities will disintegrate.
- Savers withdrew staggering £6.2bn from NS&I accounts in Novemberon January 4, 2021 at 4:43 pm
Deposits with the Treasury-backed bank were ‘historically weak’ in November, the Bank of England said as it unveiled its latest money and credit report.
- Fear of bank closures as lockdown lessens use of cashon January 3, 2021 at 9:26 am
Research shows that nearly a third of consumers have stopped using cash since the initial lockdown was introduced last March.
- Will 2021 see the end of free banking as banks struggle to turn a profit?on January 2, 2021 at 7:47 am
HSBC hinted it could start charging for basic banking services and new Lloyds boss Charlie Nunn has been tasked with expanding the bank’s income, so could we soon face current account fees?
- Cards for carers: New breed of bank accounts cuts the risk of fraudon December 30, 2020 at 9:19 am
Thousands of people now depend on others to do their shopping, withdraw cash and pay bills on their behalf because of the pandemic. But this has put them at a greater risk of fraud.
- Save smarter in 2021: ‘Autosave’ apps can analyse bills and spendingon December 30, 2020 at 9:11 am
This year proved just how important a savings safety net is. And if your New Year resolution is to save better, there are plenty of apps to help you do so without thinking.
- New Year’s resolutions: I’ll save cash by shopping the old fashioned wayon December 29, 2020 at 11:46 am
Mail on Sunday’s Deputy Personal Finance Editor Rachel Rickard Straus (pictured) plans to avoid wasteful supermarket trips.
- What has the pandemic done to the future of payments in Britain?on December 28, 2020 at 8:52 am
QR codes and smartphone payments have boomed in 2020 as the coronavirus has accelerated the surge toward contactless payments, but where does this leave millions of people who rely on cash?
- 10 simple ways to get richer without raising a finger in 2021on December 27, 2020 at 9:52 am
Here are ten easy ways to save more, get extra from your investments, and free up money to allow you to think about your finances.
- Savings rates: Will they rebound from an all-time low in 2021?on December 26, 2020 at 10:21 am
It is a truly bizarre paradox that while Britain has saved like never before this year, the returns on those savings have never been lower.
- NS&I DID abandon the elderly by axing Premium Bond chequeson December 23, 2020 at 9:27 am
National Savings & Investments had intended to start phasing out the popular payment method this month and instead credit customers’ bank accounts with the winnings directly or reinvest them.
- HMRC taxes interest savers haven’t received after plunging rateson December 23, 2020 at 8:33 am
HMRC estimates how much tax savers need to pay, based on how much interest they earned in previous years. But plunging rates mean savers have pocketed far less than usual this year.
- What will happen to FSCS protection on savings after Brexit?on December 21, 2020 at 12:49 pm
British savers will still have up to £85,000 of cash savings safeguarded after Brexit, but a slump in the pound means those in the UK could have less money protected compared to those on the continent.
- Minister urged to protect access to cash on high streeton December 21, 2020 at 8:35 am
In particular, they want to ensure that none of the big banks is allowed to withdraw from either the Link cash machine scheme or the Post Office’s ‘banking framework’.
- Big banks paid just 38 pence interest on £1,000 on cash Isas this yearon December 16, 2020 at 9:38 am
Our analysis reveals that it has been the worst ever year for cash Isas since they launched 21 years ago. And things are set to get even worse with some accounts expected to pay just 10 pence next year.
- How on Earth did NS&I get savings rates SO wrong?on December 13, 2020 at 10:21 am
Arguably the biggest mistake was made in April when it did a U-turn on planned cuts to savings rates and Premium Bond prizes. In theory, it was a good move. But in practice, it wasn’t.
- Teach our children about finance at school say parentson December 13, 2020 at 9:57 am
Financial literacy has been part of the National Curriculum since 2014. But many schools still do not teach standalone money lessons, although though 95 per cent of parents surveyed want it.
- Child Trust Funds: Are investment fees eating your savings?on December 10, 2020 at 4:16 pm
Thousands of young savers are facing sky high investing costs because they cannot access their CTFs as they are having trouble proving the money is theirs.
- How you can still earn 1.25% interest on an easy-access savings dealon December 9, 2020 at 5:46 pm
Chip was launched in 2017 and helps customers work out how much they can afford to save every few days. Its account will accrue interest worth up to £62.50 a year on the full £5,000.
- How to send loved ones cash smartly and safely this Christmason December 9, 2020 at 9:25 am
Money can be the perfect Christmas present and with fewer people visiting the shops and travelling this Christmas, it will no doubt prove a popular choice.
- Best savings rates: Regular savings deals offer up to 3% intereston December 9, 2020 at 9:23 am
There is a record £1 trillion languishing in easy-access and current accounts. Yet the average easy-access rate is now just 0.19 per cent, with all major banks paying a pathetic 0.01 per cent.
- Fintech start-up Lanistar drops celebrity backer claims as Instagram influencers promote debit cardon December 8, 2020 at 5:52 pm
Lanistar signed up Premier League footballers like Kevin de Bruyne and former Love Island contestants Amber Gill and Tommy Fury in a viral advertising campaign last month.
- Best savings rates: JN Bank UK and DF Capital launch top dealson December 8, 2020 at 5:31 pm
Savers have the hint of a better outlook in the form of two new banks offering competitive savings rates – JN Bank UK and DF Capital.
- Big Issue backs Big Exchange Junior Isa to back companies doing goodon December 8, 2020 at 4:24 pm
Parents can open the savings account through The Big Exchange, co-founded by the Big Issue Foundation, and invest from £25 a month on behalf of their child.
- NS&I gives Premium Bond prize cheques temporary reprieveon December 6, 2020 at 10:12 am
The decision comes eight weeks after we warned National Savings & Investments boss Ian Ackerley that axeing the cheques would cause inconvenience and distress to customers.
- Labour ‘never envisaged’ CTF problems hitting disabled childrenon December 4, 2020 at 1:37 pm
Lord Blunkett, who helped set up the savings scheme nearly two decades ago when he was Education and then Work and Pensions Secretary, said Labour had no idea of the problems in store.
- NS&I customers demand it ditches plan to scrap cheques for good on December 2, 2020 at 3:29 pm
This week, we will send NS&I a dossier containing hundreds of your heartfelt letters and emails detailing how upset you are about its decision to stop sending prizes in the post.
- Everything you need to know about savings! This is Money podcaston January 25, 2019 at 4:41 pm
When savings is mentioned, the first thought that springs to mind for many is: rates are low, what’s the point? We take a look in the latest This is Money podcast special.
- How to invest and save for your children – the This is Money podcaston December 7, 2018 at 4:47 pm
It might not be on the top of your to-do list when you have a child, but investing and saving for them to build a tidy nest egg for when they reach adulthood is best done sooner rather than later.
- Savings compensation and protection: Bank ownership and licenceson September 20, 2018 at 12:12 pm
The way you spread out your savings with banks is crucial in terms of protection and compensation. We show you how to get protected.
Wednesday, May 12, 2021