Hounslow thriving due to ten bank branches
on September 19, 2020 at 8:50 pm
Banks claim branches are increasingly redundant. But the queues outside Hounslow’s branches reveals what is lost when face-to-face contact is snatched away.
Royal Mint could go a decade without making any 2p or £2 coins
on September 17, 2020 at 11:01 pm
Britain’s coin makers could go more than a decade without producing any new 2p or £2 coins after cash usage slumped over the last 10 years and the country handed back its old change.
How do I find out if I have a child trust fund?
on September 17, 2020 at 4:19 pm
The funds were launched 15 years ago with every child born between September 1, 2002 and January 31, 2011 given a helping hand from the Government in the form of a voucher worth £250.
NS&I to stop sending Premium Bond winnings as cheques
on September 17, 2020 at 12:10 pm
A quarter of Premium Bonds customers who still receive winnings through the post will have to provide bank details from December, as NS&I phases out prize cheques.
HSBC launches welcome bonus meaning bank account switchers could earn £325
on September 17, 2020 at 6:35 am
Customers willing to spend a few hours buried in banking paperwork could potentially earn themselves £325 in one-off switching bonuses, after HSBC became the latest to launch a switch bonus.
Just 11 of 661 inflation-beating savings accounts offered by big banks
on September 16, 2020 at 12:51 pm
The low savings rates on offer from Britain’s biggest banks have been laid bare even more today, thanks to a sharp fall in the consumer prices index.
Bonds battle lifts interest: Secure Trust now offering best buy of 1.25%
on September 16, 2020 at 8:03 am
OakNorth Bank is raising its one-year bond to 1.23 per cent while Aldermore Bank has reappeared among the top pays with a rate of 1.2 per cent joining Allicia, Paragon and United Trust.
Banks resort to sneaky tricks as they try to compete with NS&I
on September 16, 2020 at 7:55 am
Banks and building societies have launched a host of accounts with sneaky catches in a bid to compete with the Government’s savings arm, National Savings and Investments.
Top easy-access savings account now offered by Skipton BS not NS&I
on September 16, 2020 at 7:46 am
There is a new name at the top of our savings tables for the first time in four months after the mutual launched a best buy easy-access account.
Starling becomes the first British bank to charge customers interest on savings
on September 11, 2020 at 6:41 am
Starling is the first British bank to introduce negative interest rates for personal current account customers, although only for those who hold money in euros.
1,200 year old Anglo-Saxon coin could sell for record £80,000 at auction
on September 10, 2020 at 11:17 am
The penny, found by a treasure hunter in Pevensey, East Sussex, during a hailstorm six years’ ago, will be sold off by London auction house Spink next Tuesday, one of 32 dating back to 700.
Halifax will close its £100 switch offer a week early but you can still snap it up
on September 8, 2020 at 6:49 am
Consumers after money for switching bank accounts have until midnight tonight to take advantage of one of the most generous offers around.
Family BS savings lottery with better odds of £50k than Premium Bonds
on September 7, 2020 at 11:16 am
Family Building Society has brought back its Windfall Bond savings account and upped the number of monthly prizes to 21.
The town that lost ALL of its six banks in four years
on September 6, 2020 at 8:30 am
Brydie Taylor (pictured) wanted to open a savings account for her one-year-old son Onyx but found that all the banks in Ware were gone.
How did it take three months to get back the £50,000 I had invested in Premium Bonds?
on September 6, 2020 at 8:30 am
Easy access was important to my wife Helen and me, as we had earmarked our hard-earned £50,000 nest egg for a more permanent home in an equity-based investment bond.
Could NS&I cut savings rates after another record month of Premium Bond buys?
on September 4, 2020 at 10:01 am
Every month of record buys takes NS&I closer to its fundraising target for the whole of 2020-21, requiring it to make the decision as to whether to once again increase the £35bn fundraising goal.
Best bank accounts: RBS follows Halifax and offers £100 bribe to open an account
on September 2, 2020 at 12:40 pm
The cash is available to new and existing customers until November 19, but is it worth switching.
How an offset mortgage can beat pitiful savings rates
on September 2, 2020 at 12:39 pm
An offset deal is where you stash your savings with the same bank or building society you have your mortgage with and use the money to reduce how much interest you pay.
Monzo will charge customers to withdraw more than £250 from ATMs
on September 2, 2020 at 11:58 am
Monzo is set to become the first major UK bank to charge its customers to make withdrawals from a cash machine, amid fears Britain is increasingly going cashless.
The shops who don’t want your money if you try to pay in cash
on September 2, 2020 at 10:50 am
We have been flooded with emails and letters from readers who say they had to walk out of shops empty-handed after being told they are no longer allowed to use cash.
Grab a fixed rate savings deal before they go: Banks now offering over 1%
on September 2, 2020 at 8:26 am
One-year fixed savings rates have crept up above 1 per cent in recent weeks. Competition has improved slightly because savers know they can earn 1.15 per cent with National Savings & Investments.
Santander to extend branch openings by two hours from next week
on September 2, 2020 at 8:14 am
Branches will be open from 9.30am until 4.30pm on Monday to Friday as of September 7. The bank had restricted its weekday hours to 10am until 3pm due to the pandemic.
Savers trapped in frozen property funds until 2021
on September 1, 2020 at 9:41 pm
Experts are predicting that open-ended property funds, which were suspended in March as the coronavirus crisis rocked the property market, may not be unfrozen for several more months.
TSB is no longer the bank that likes to say yes
on August 30, 2020 at 8:58 am
TSB is blowing a rude raspberry in the face of customers wanting to be served at its branch counters. The bank has started pulling down the shutters at 14 branch counters at 2pm.
Student bank accounts with perks that make the grade
on August 30, 2020 at 8:57 am
There is no need for dodgy algorithms and grade predictions when choosing a bank. Students are eligible for an account that comes with benefits and interest-free overdrafts.
What should I do with my Child Trust Fund money next?
on August 29, 2020 at 7:51 am
From next Tuesday, around 6.3m children born between 1 September 2002 and 2 January 2011 will begin to be able to access millions of pounds paid into Child Trust Funds when they turn 18.
Why didn’t Barclays text me about a payment I was about to miss?
on August 28, 2020 at 7:04 am
Adrian, 28, from Lancashire, wrote to This is Money earlier this month after he was charged £11 for missing the June payment on his Asda card, after a text alert from Barclays failed to arrive.
Best student current accounts in 2020 for freebies and large interest-free overdrafts
on August 27, 2020 at 7:38 am
Every year Britain’s biggest banks seek to sign up freshers with large overdrafts and freebies, and this year is no different, even if most other things have been. Which accounts are best?
First teenagers to get their hands on freebie child trust fund cash from next month
on August 26, 2020 at 8:08 am
They will be the first to get their hands on Child Trust Fund cash given to them when they were born. Emily Fletcher (pictured) plans to keep her money invested when her child trust fund matures.
Metro Bank joins current account competition with £50 refer a friend bonus
on August 25, 2020 at 10:20 am
Existing customers of the bank and up to five friends can each earn £50 if they open an account and switch through the Current Account Switch Service.
What different savings challenges are there and are they any good?
on August 25, 2020 at 6:42 am
Many Britons have managed to squirrel away extra cash during lockdown, perhaps saving on commuting costs, going out and memberships they no longer needed.
Zopa enters the cash savings competition as the new bank launches its first fixed-rates
on August 24, 2020 at 12:19 pm
Zopa, the peer-to-peer lender turned bank, has entered the cash savings competition, announcing a range of fixed-rate bonds paying up to 1.3% which can be opened online.
Want better savings rates? Ditch the Big Six banks
on August 22, 2020 at 9:00 pm
If you have hard earned money sitting in an easy-access account with any of the major high street banks, you are more than likely to be earning no more than 0.01 per cent in annual interest.
Best cash Isas 2020: Where to get the best cash Isa rates and deals
on August 20, 2020 at 8:33 am
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
Number of savings accounts that beat inflation fall 80% in a month
on August 19, 2020 at 2:19 pm
Inflation jumped to its highest level for four months in July, with the CPI increasing from 0.6% to 1%, according to the ONS.
Savings rates slashed by nearly two thirds during pandemic
on August 17, 2020 at 9:55 am
Easy-access savings accounts rates and Isa equivalents have been severely hit by the coronavirus pandemic, and each month are setting new lows, data shows.
Customers forced to wait THREE HOURS to talk to their bank
on August 12, 2020 at 1:12 pm
Banking customers unable to visit a branch are being forced to wait hours on the phone, our probe has revealed. It is the latest blow for people struggling to get a basic banking service in the pandemic.
Child savers missing out on £3m a year as Junior Isa rates are axed
on August 12, 2020 at 12:09 pm
Families poured around £555m into cash Junior Isas last year. But the average rate is now down at 1.91 per cent from 2.46 per cent at the start of the year, according to data firm Moneyfacts.
Cash deposits at the Post Office return to pre-coronavirus levels
on August 12, 2020 at 8:23 am
The amount of money paid into Post Office branches rose 27 per cent to £1.8bn, while withdrawals totalled £607m – up 13 per cent. Many shops stopped accepting cash for fear it could spread the virus.
New short-term best buy fixed-rate savings deals and cash Isas
on August 11, 2020 at 11:26 am
Challenger banks have continued to increase their rates on short-term fixed-rate deals while best buy tax-free Isas have also been launched.
Best savings rates: QIB UK and United Trust Bank launch best buy fixed-rate bonds
on August 6, 2020 at 8:06 am
Savers have been handed some rare good news as smaller challenger banks have raised the rates they pay on fixed-term deposits over the last few weeks.
Why are so many banks still only open part-time?
on August 5, 2020 at 8:14 am
Many branches restricted services during lockdown as they battled staff shortages, with some closing doors altogether. It has meant customers have been forced to queue around the block.
Best current accounts: Halifax launches £100 switch offer
on August 5, 2020 at 7:52 am
Those who earn hundreds of pounds from regularly switching accounts will hope the move from one of Britain’s biggest banks will spur others into action and lead to a resurgence in welcome bonuses.
Billions pour into Premium Bonds lengthening odds of winning £1m
on August 3, 2020 at 2:21 pm
There were a record 1.745bn more Premium Bonds in this month’s prize draw as Treasury-backed NS&I continued to hoover up billions of pounds from savers.
Coronavirus UK: Bank account switching slumped April to June
on July 30, 2020 at 2:01 pm
The number of people who switched bank account between April and June fell by two-thirds compared to the first three months of the year, as the coronavirus decimated the battle over bank accounts.
LEE BOYCE: Top cash Isa rates are falling fast, what next for tax-free rates?
on July 30, 2020 at 7:47 am
Rates haven’t just fallen off a cliff – they’ve somersaulted into the Mariana Trench, and are sinking so fast, it’s hard to see them bobbing back anytime soon.
What does the future hold for Metro Bank on its tenth birthday?
on July 29, 2020 at 3:22 pm
Metro Bank tonight celebrates 10 years of its first branch in London on 29 July with Heather Small of M People. But the bank with big branches appears to be facing big challenges in the years ahead.
Savers urged not to be fooled by ‘teaser rates’ on notice accounts
on July 29, 2020 at 7:57 am
Some accounts promise up to 1.45 per cent, but will be more than halved within weeks. The teaser rates come from little-known notice accounts which pay more interest than easy-access deals.
The cyber banking converts who went digital during lockdown
on July 29, 2020 at 7:54 am
For years, Roger Jewitt had no interest in banking online. But he is now among a group of retired internet banking converts who were forced to get to grips with the technology during lockdown
Help to Save scheme: £2m withdrawn between March and June
on July 28, 2020 at 1:43 pm
Hard-up savers withdrew almost £2m in three months from a tax-free government savings scheme aimed at helping those on low incomes build a rainy-day fund, official figures have revealed.
Best savings rates: Barclays becomes the last high street bank to pay just 0.01% interest
on July 28, 2020 at 8:36 am
Barclays has followed HSBC, Lloyds Bank, NatWest and Santander in slashing the rate on its everyday saver today from 0.25 per cent to 0.01 per cent, a drop in interest of £24 a year.
Best bank accounts: Club Lloyds to cut interest rate to 0.8%
on July 24, 2020 at 2:01 pm
Customers will earn less interest from October, with Lloyds Bank slashing how much Club Lloyds and Bank of Scotland Vantage customers earn by around £21.
The 20 items bought by most Britons during lockdown
on July 22, 2020 at 11:01 pm
Holed up in their homes, it it clear that some Britons went to great lengths and expense to up the fun factor in their households, including the Ellison family (pictured)
Santander ups monthly Lite fee and cuts cashback on phone and internet bills
on July 22, 2020 at 2:49 pm
The bank is upping the Lite fee from £1 a month to £2 and cutting cashback on internet, phone and television packages from 3% to 1% – many will be asking, is it still worth it?
Nationwide Building Society’s Start to Save account proves popular
on July 22, 2020 at 2:22 pm
The lottery-style savings product offers £100 prizes and an underlying rate of 1%, which now looks attractive given that rates have dropped elsewhere.
The kids who cashed in on lockdown and learned the value of saving
on July 22, 2020 at 8:26 am
Many struggling families have had to halt pocket money payments after losing their income. But others say pocket money has become a bargaining chip as they attempt to juggle childcare and jobs.
NS&I offers a ray of hope for savers
on July 22, 2020 at 7:52 am
The bank already offers some of the best savings rewards on the market as interest rates have plummeted to an all-time low. Experts now believe NS&I could maintain its rates for a while.
Attack of the clones: Fake investment sites posing as genuine firms
on July 21, 2020 at 10:07 pm
Starved savers seeking a decent return are being targeted by fraudsters posing as genuine investment firms. Reports of investment scams soared by 45 per cent over lockdown.
More Britons have picked up the savings habit says Nationwide Building Society
on July 20, 2020 at 12:34 pm
Despite many people losing their jobs or living on reduced incomes – and falling savings rates – 37 per cent said they had put more into a savings account than normal since lockdown began.
Having a clear-out can boost your finances by £4,300
on July 20, 2020 at 7:03 am
Coronavirus has impacted everyone’s finances one way or another, but fortunately there are ways to give your bank balance a much-needed boost.
Are Britons’ spending habits gradually returning to pre-pandemic levels?
on July 17, 2020 at 3:41 pm
Lloyds Bank suggests that a ‘return to normal’ for both essential and non-essential goods and services is still a long way off, with money forked out for fuel and commuting still pitifully low.
Number of inflation-beating savings accounts falls to 450
on July 16, 2020 at 9:45 am
Some 450 savings accounts now match or beat June’s inflation reading, but that is nearly 100 fewer than last month after inflation rose and savings rates fell.
NS&I now aims for £35bn of savers’ cash this financial year
on July 16, 2020 at 9:14 am
The Treasury-backed bank now has a number of best buy savings deal and says the move has been made to ‘reflect government finance requirements arising from Covid-19.’
Monzo brings back £5-a-month Plus account with holographic blue card
on July 16, 2020 at 7:13 am
Monzo has brought back its packaged premium ‘Plus’ bank account after an extensive revamp, with a £5 monthly price tag and a new holographic blue card.
Best savings rates: Junior Isa and children’s account rates tumble
on July 15, 2020 at 10:22 am
Some of Britain’s biggest banks are slashing the returns on children’s savings accounts just months after the Chancellor handed parents a boost to the tax-free Junior Isa allowance.
Beware the easy-access deals that pay no interest at all
on July 15, 2020 at 8:15 am
With interest rates at record lows, it is vital savers seek out the very best deal. And the majority of the £814.6bn in easy-access accounts is with big banks that typically pay the worst rates.
Lloyds announces in-app service to let customers cancel subscriptions
on July 13, 2020 at 11:03 am
Millions of Lloyds customers who signed up for new subscription services during the coronavirus lockdown will be able to cancel them in their banking apps under a new update, the bank said.
Laws set to force banks to have local ATMs
on July 13, 2020 at 8:05 am
Link said that 12 per cent of Britain’s 60,000 ATMs were shut during the coronavirus lockdown and more than 5,000 ATMs have not been turned back on, raising fears that many may never reopen.reopen.
Lockdown taught us to spend less…and save more
on July 12, 2020 at 1:02 pm
As lockdown restrictions finally ease and life begins to feel more ‘normal’, a number of financial lessons have been learnt along the way.
Best bank accounts: Tesco Bank to axe in-credit interest from September
on July 9, 2020 at 3:30 pm
Holders currently earn 1% on balances of up to £3,000. The cut will come on 22 September and is the second reduction in 13 months.
Best savings rates: Dismal Isa returns mean you earn more elsewhere
on July 8, 2020 at 8:07 am
The amount of money deposited into the tax-free accounts has dropped for three months in a row, according to Bank of England figures. Savers withdrew £366 million between March and May.
Londoners come out top of the lockdown savers
on July 8, 2020 at 8:00 am
More than a quarter of Britons stopped or cut back on saving in the pandemic, according to the survey by pension firm Aegon. Yet 31 per cent of people said they had managed to save more.
Marcus Bank will launch a cash Isa in the near future
on July 7, 2020 at 2:19 pm
Goldman Sachs’ Marcus will soon launch a cash Isa, This is Money has learned, but it plans to make it available only to existing customers.
Banks will soon start charging nearly 40% for overdrafts again
on July 7, 2020 at 10:02 am
The city regulator today effectively gave the green light to banks to reintroduce overdraft rates of nearly 40%, despite the coronavirus pandemic expected to leave millions struggling.
Savings rates will still fall even further experts predict
on July 7, 2020 at 7:07 am
Experts have warned that hard-up savers face more misery and that savings rates could fall even further, despite the worst six months of interest rate cuts in more than a decade.
Royal Mint warns collectors after Battle of Hastings 50p sells for £63,000
on July 3, 2020 at 8:37 am
The Royal Mint has urged coin collectors to avoid paying huge sums for common coins on the basis of ‘farfetched’ reports, after a 2016 Battle of Hastings 50p reportedly sold for more than £63,000
Savers pounce on NS&I after it ditched plans to slash rates
on July 1, 2020 at 8:29 am
Money flooded iwent into NS&I’s Direct Saver, which pays 1 per cent, in the year to the end of March – the most since the account was launched in 2010. A further £3bn poured into Income Bonds.
How to make your children’s savings grow while they do
on July 1, 2020 at 8:16 am
Young savers are losing out because of a failure to invest for their future, it is warned today. Experts are calling on the regulator and the industry to act now to ensure children get the most out of their savings.
One in ten Britons do not live within a mile of a free cash machine
on July 1, 2020 at 8:08 am
In some rural areas more than half of the population have to travel more than a mile to get it, according to the Financial Conduct Authority and Payment Systems Regulator.
Savers see worst six months in a decade as easy-access rates fall 0.35%
on July 1, 2020 at 7:54 am
Easy-access rates have plummeted by 0.35 per cent since the start of the year, while longer-term fixed Isas are down by 0.56 per cent, according to Moneyfacts.
Households save a record amount of money last month
on June 29, 2020 at 2:05 pm
Britons spent a little more, paid back a little less and tucked away a lot more last month, with savings increasing a record £25.6bn, figures from the Bank of England show.
Find out if your Isa pot matches up to your peers
on June 27, 2020 at 9:56 am
HMRC has published a stash of data giving people the chance to discover how their Isa stash compares with people all over the country.
NS&I reveals savers cost it £887m last year as borrowing costs were so low
on June 25, 2020 at 6:42 am
Rock-bottom borrowing costs mean it is increasingly expensive for the government to raise cash from savers, raising concerns NS&I’s market-leading savings rates could be cut.
Major providers set to pay just 0.01% interest with easy-access deals
on June 24, 2020 at 9:19 am
Savings rates have plummeted to record lows since the Bank of England base rate fell to 0.1% in March. But experts warn that customers with big providers are suffering the worst of the rate cuts.
Rise in savings accounts that now beat inflation
on June 24, 2020 at 9:15 am
The fall means there are now 440 savings accounts which beat inflation, says Moneyfacts., including 35 easy-access accounts. The top rate on offer is 1% from NS&I with its Direct Saver.
Bank staff accused of ‘interrogating’ elderly customers
on June 24, 2020 at 8:31 am
In one case, a grandmother was denied entry to her local Halifax branch after taking a taxi to deposit a large amount of cash she felt unsafe keeping at home.
Savers add £11bn to easy-access savings accounts during lockdown
on June 23, 2020 at 1:14 pm
Savers piled 303% more money into easy-access accounts during March and April, according to industry data showing how savers opted to keep their cash on hand.
Online savings platforms see continued interest from savers with big pots
on June 23, 2020 at 6:34 am
Platforms which allow savers to spread their money across multiple accounts with one application are continuing to see heavy demand from savers, even after stock market turmoil subsided.
Is banks sharing buildings the way to save cash?
on June 21, 2020 at 9:54 am
Natalie Ceeney (pictured) has sanctioned the launch of eight ‘cash pilot’ schemes designed to test new ways of cash remaining available to consumers and businesses.
Best savings rates: Top catch-free Isa pays just 0.65%
on June 19, 2020 at 9:42 am
Three months of historically brutal cuts to savings rates mean the best cash Isa which comes with no strings attached pays just £130 interest a year on the full £20,000 tax-free allowance.
Will anyone take cash? We visit shops to check virus fears
on June 18, 2020 at 10:18 am
Our research suggests half of all retailers plan to go cashless because of the virus. Miles Dilworth (pictured) sees if his high street still takes cash.
Best savings rates that now beat inflation
on June 17, 2020 at 1:35 pm
The CPI measure of inflation stood at 0.5% in May, a four-year low and the fourth successive month in which inflation has fallen, according to the ONS.
Savers forced to turn to NS&I after ‘devastating’ month of rate cuts
on June 17, 2020 at 8:17 am
In just three months, the average easy-access rate has plummeted from 0.6 per cent to a record low of 0.27 per cent.
Cash campaign set to name eight pilot communities
on June 14, 2020 at 9:27 am
We understand that the ‘Community Access to Cash Pilots’ board, chaired by cash champion Natalie Ceeney, has selected eight communities to participate in the project.
Kew Gardens 50p is worth 2,733% more than it was in 2009
on June 11, 2020 at 6:34 am
Numismatists who snaffled the Kew Gardens 50p when it was released into circulation in 2009 and still hold onto it now could have seen the value of that ‘investment’ skyrocket over the last decade.
TSB revamps £50 sign-up bonus’s terms after they were called unclear
on June 11, 2020 at 6:34 am
TSB has finally clarified the terms of a £50 current account cashback offer it launched last October which were decried by some of its customers as ‘unclear’ and left others out of pocket.
Goldman Sachs closes Marcus account to new customers
on June 10, 2020 at 8:52 am
Marcus, the bank’s easy-access account, has been near the top of best buy tables since 2018
Savers abandon cash Isas as interest rates plunge
on June 10, 2020 at 8:28 am
Around £1bn was withdrawn from cash Isas between March and April this year. By comparison, £21bn flowed into easy-access accounts. Experts say plummeting interest rates are partly to blame.
How now £5,000 in Nationwide Isa will earn you just 50p
on June 8, 2020 at 12:33 pm
Cuts applied to savings rates in the wake of the Bank of England’s decision to cut the Base Rate to 0.1 per cent are bringing criticism.
Best savings rates: Marcus launches one-year fixed-rate paying just 1%
on June 5, 2020 at 6:41 am
Goldman Sachs-backed Marcus Bank has brought back its one-year fixed-rate deal, but the account actually pays 1% now, a lower rate than its easy-access deal which pays 1.05%.
Cash made up just 23% of transactions in 2019 as contactless boomed
on June 3, 2020 at 1:21 pm
Cash was used for less than a quarter of all payments last year for the first time ever, new figures show, as consumers continue to choose debit cards and contactless payments instead.
How to track down old bank accounts to see if you’re due a windfall
on June 3, 2020 at 8:22 am
Culture secretary Oliver Dowden said the government would take millions from dormant bank accounts, meaning some may be looking to see if they are due a windfall too. We reveal how.
Best buy savings accounts continue to disappear
on June 3, 2020 at 8:18 am
Big banks and building societies have already slashed one-year deals to below 0.5%, but newer banks are now following suit with devastating cuts of their own.
Are you an accidental lockdown saver?
on June 3, 2020 at 7:43 am
Despite the doom and gloom, many have found themselves saving hundreds of pounds in lockdown and becoming more financially secure.
Premium Bonds jackpot winner’s 7000% return on investment
on June 2, 2020 at 3:24 pm
A saver from Stoke-on-Trent might have secured the best investment of the coronavirus lockdown, securing a 7,000% return on their Premium Bonds in just five months.
It is safe to use physical cash despite coronavirus says ATM boss
on May 29, 2020 at 1:34 pm
One of Britain’s largest cash machine providers is launching a campaign to convince people to continue using cash after the coronavirus lockdown, saying it wants to dispel ‘fake information’
Will coronavirus result in the death of cash in Britain?
on May 28, 2020 at 7:49 am
‘Sorry, we don’t accept cash.’ That will be a familiar phrase for the rest of 2020 as major retailers begin to reopen on mass in mid-June.
MPs demand Chancellor take action to save cash system from collapse
on May 27, 2020 at 7:51 am
A letter signed by 37 cross-party MPs have written to Rishi Sunak urging him to bring forward legislation that would revive free-to-use cash machines for local communities.
Savers desperate to switch Isa deals lose out over costly delays
on May 27, 2020 at 7:46 am
Many savers are now stuck in an account paying almost nothing and urgently want to transfer. But branches have asked customers not to visit unless it is an emergency.
TSB customers say they’ve been unfairly denied a £50 cashback offer
on May 25, 2020 at 7:26 am
Some customers of TSB have complained the bank has left them out of pocket by denying them a £50 cashback bonus they were entitled to, despite appearing to follow the rules of the offer.
The banks paying savers zero interest and just £1 on £10,000 of savings
on May 21, 2020 at 7:06 pm
More than 200 savings accounts now pay savers just 10p of interest each year for £1,000 tucked away, while one building society has recently cut its rate to zero.
NatWest/RBS staff member reveals lockdown target pressure
on May 21, 2020 at 6:39 am
RBS and NatWest have been accused of using sales target pressure for branch staff under coronavirus-lockdown at home.
Best savings rates: Government-backed NS&I now offers the best rates
on May 20, 2020 at 8:06 am
While most other top deals require you to be online, you can open NS&I accounts by post or phone, too. Savers should prepare for delays and long waiting times due to the coronavirus chaos.
Banks squeeze savers as one-year fixed-rates hit three-year low
on May 18, 2020 at 10:43 am
One-year fixed-rate bonds and tax-free Isas now pay an average of 0.99% and 0.91%, both three-year lows, as banks cut savings deals and pulled offers from sale.
NatWest customers had accounts suddenly shut
on May 17, 2020 at 11:54 am
In recent months, a steady trickle of NatWest customers, like Adam Siddle, pictured, have had accounts closed and contacted us for help.
How are neobanks Monzo and Starling attracting current account customers?
on May 16, 2020 at 11:29 am
Millions of people have chosen to open an account at one of the nimble new banks which don’t have a bank branch presence: Consumer Trends looks at what is behind the surge.
Savers at the mercy of inflation as RCI Bank’s easy-access rate is slashed from 1.20% to 1.05%
on May 15, 2020 at 10:48 pm
With consumer inflation running at 1.5 per cent in March that means savers who want access to their deposits are suffering rapid declines in the value of their savings.
Those on Universal Credit can get up to £1,200 in free Government savings
on May 14, 2020 at 8:05 am
With 1.8million people signing up to Universal Credit since 16 March, many more people could be eligible for Help to Save, which offers those on low incomes up to £1,200 over four years.
Lifetime Isa penalty could still be 25% until HMRC updates systems in June
on May 13, 2020 at 10:48 am
Some Lifetime Isa holders forced to dip into their housing or retirement funds at short notice could still be penalised their own money for another month because the taxman needs to update its systems.
Best savings rates: Marcus cuts rate again from 1.2% to 1.05%
on May 13, 2020 at 9:59 am
The lower rate comes into effect for new customers immediately and for existing customers from May 30. It is the second cut in a month after it trimmed the rate to 1.2% from 1.3% on 17 April.
Best savings rates: fixed-rate regular savers pay up to 2.75%
on May 13, 2020 at 8:43 am
Analysts at Moneyfacts say the best deals for drip-feeding spare cash are fixed-rate plans linked to current accounts. The top easy-access accounts currently pay 1.2 per cent.
Refund call for package bank account perks that cannot be used
on May 13, 2020 at 8:39 am
Customers pay £156 a year on average in fees, and around two-thirds of package accounts offer travel insurance. But many UK customers are now unable to travel and are driving less.
Heartbreak and hope in Santander’s coronavirus hotline call centre
on May 13, 2020 at 8:33 am
Currently Santander bank’s coronavirus call handlers answer around 400 calls a day. That’s down from a peak of more than 1,000 in the first week after lockdown began.
Banks turn customers away from branches if visits are not ‘essential’
on May 13, 2020 at 8:08 am
Lloyds, Halifax and Bank of Scotland are now providing only ‘essential’ services in branches. Nationwide customers may also be asked to come back again another time.
Fixed-rate savings accounts continue to fall thanks to coronavirus
on May 12, 2020 at 10:54 am
Aldermore Bank led a bank holiday barbecue of fixed-rate savings deals, scrapping all non-easy-access accounts as savings rates continue to tumble.
Best current accounts: Santander announces 123 interest rate cut
on May 11, 2020 at 8:37 am
Santander has handed 123 current account customers further misery with the news they will receive 0.6% interest on their balances from August 2020.
Is my NHS 10p coin worth more than face value?
on May 11, 2020 at 7:59 am
Change Checker’s latest scarcity index revealed the N for NHS coin, released alongside 25 others as an A-Z of Britain in 2018, is now the most in-demand 10p around.
What do low Bank of England interest rates mean for savers?
on May 7, 2020 at 4:28 pm
Savers were handed more bad news today with the Bank of England suggesting its base rate could remain close to historically low levels over the next few years.
Easy-access savings customers urged to check their rates
on May 7, 2020 at 7:37 am
A number of challenger banks and building societies are making cuts to their bread and butter savings accounts – and it’s time to check you won’t be hit.
Treasury lifeline to Lifetime Isa savers facing financial difficulties
on May 6, 2020 at 8:48 am
In a welcome move, HM Treasury has finally agreed to reduce the punishing exit fee it previously charged anyone wanting to withdraw money from a Lifetime Isa for an unapproved reason.
Can you be infected by cash and will it be a virus victim?
on May 6, 2020 at 8:06 am
Last month cash withdrawals fell by 60 per cent compared with April 2019, according to ATM operator Link, whose chief exec says the pandemic is ‘speeding up’ the decline of cash.
Nationwide savers forced to wait weeks to transfer Isas
on May 6, 2020 at 8:02 am
Nationwide has cut the rate on its Future Saver, Loyalty Saver and Isa customers, but jumping ship is proving tricky.
Millions dip into their savings or take on debt amid coronavirus crisis
on May 4, 2020 at 3:45 pm
Nearly a third of people in the UK have had to dip into their savings while a fifth have taken on debt, with the younger generations the worst hit, a new survey has showed.
Should you cash out as NS&I makes cuts to fixed-rate savings deals?
on May 4, 2020 at 3:03 pm
While NS&I announced it was reversing planned cuts to some of its variable rate savings accounts, including Premium Bonds, it still pressed ahead with cuts to 10 fixed-rate deals.
Treasury will reduce Lifetime Isa penalty to 20% until next April
on May 1, 2020 at 3:13 pm
In a major victory for This is Money, who raised the issue with the Treasury on Monday, minister John Glen said the Lifetime Isa withdrawal penalty would be reduced to 20% until next April.
Nationwide loses current account switching crown to Monzo
on April 30, 2020 at 8:00 am
Nationwide lost its switching crown to Monzo in the final three months of last year, new figures show, as the highest number of people in four years switched their bank accounts in March.
We waited 60 years to win £50,000 in the Premium Bonds draw
on April 30, 2020 at 6:46 am
Last month retired school site manager Ken Medlycott (pictured with wife Sally) won a huge £50,000 – doubling his savings. The odds of him winning such a prize in a year were one-in-7,466.
Banks cut savings rates for loyal savers by four times the base rate chop
on April 29, 2020 at 8:05 am
The official base rate was reduced by 0.65 percentage points last month to 0.1 per cent, but savers face bigger cuts.
Last chance to open a Nationwide account offering 5% interest
on April 28, 2020 at 10:54 am
From the start of May, 5% savings deals will be as dead as a dinosaur, with Nationwide cutting FlexDirect from 5% to 2% and lowering the balance you can earn interest on. But you can sign up now.
Call to stop Lifetime Isa penalties in Universal Credit trap
on April 28, 2020 at 7:45 am
Thousands of first-time buyers in financial trouble in the coronavirus pandemic must pay the Government big penalties to raid their house deposits.
HSBC and Lloyds report thousands more are digitally scanning cheques
on April 28, 2020 at 7:44 am
Figures from two of Britain’s big four high street banks revealed the numbers of cheques being digitally deposited using mobile banking apps has surged, while branch footfall has plummeted.
What next for savings rates? Banks tap into new funding scheme
on April 27, 2020 at 1:00 pm
A Bank of England scheme designed to provide banks with cheap money to lend to small businesses has handed out an enormous £6billion in its first week, official figures reveal.
Saving money in the lockdown? How to use the cash
on April 26, 2020 at 7:40 am
While a lot of people will sadly have found themselves furloughed on reduced pay or even out of a job as a result of the coronavirus, some will actually have found themselves with more cash
NS&I reverses savings cuts to fund Government war on coronavirus
on April 22, 2020 at 7:53 am
Despite interest rates plunging to record lows, National Savings and Investments has gone against the grain and abandoned plans to cut rewards which would have cost savers £200 m.
Record 180 savings deals vanish as Nationwide cuts
on April 21, 2020 at 7:52 am
There were 1,768 available savings accounts and Isas at this time in March, Moneyfacts said. By April this had fallen to 1,588, and average savings rates from 0.56% to 0.44%.
Build a £240,000 savings pot for your child by the time they reach 18
on April 19, 2020 at 10:33 am
The increase in the allowance means a parent starting a Junior Isa this month for a newborn child could build a tax-free pot of more than £240,000 by the time their child reaches 18.
Initiative aimed at improving financial education among young children extended online
on April 19, 2020 at 10:30 am
The KickStart Money programme, funded by 20 financial companies and overseen by charity MyBnk, will start delivering money education into the homes of children aged between five and 11.
Everything you need to know about savings! This is Money podcast
on 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 podcast
on 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 licences
on 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.
Sunday, September 20, 2020