- 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.
- New short-term best buy fixed-rate savings deals and cash Isason January 25, 2021 at 9:55 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.
- 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.
- Small victory in the struggle for locked Child Trust Fund savingson December 2, 2020 at 9:26 am
The parents of up to 200,000 disabled children who need to go to court to access locked Child Trust Fund savings may no longer have to pay fees in order to do so, in a partial victory for campaigners.
- Glimmer of hope for families with frozen child trust fundson December 2, 2020 at 9:11 am
Families with disabled children will no longer have to pay costly court fees to access child trust fund cash. Under current rules, only the child can access these tax-free accounts at 18.
- Short-term bonuses are hiding real saving rateson December 1, 2020 at 12:31 pm
Analysis, carried out for the banking group Investec by Andrew Hagger of MoneyComms, also found that seven of the top 50 easy access savings accounts have short-term bonuses.
- NS&I Premium Bond payouts fall by £31m in December drawon December 1, 2020 at 12:29 pm
NS&I slashed Premium Bond payouts by more than £31m this month as it brought in hefty cuts to Britain’s best-loved savings product.
- Snowman 50p: Royal Mint launches third version of the coinon December 1, 2020 at 12:22 pm
The Royal Mint has started the countdown to Christmas by launching a new range of festive 50p coins featuring the characters from the iconic film The Snowman.
- Can you claim universal credit when you have savings?on December 1, 2020 at 7:47 am
Many people are being forced to seek universal credit for the first time due to the Covid-19 crisis, and those who have savings may see their entitlement to the benefit reduced. Kay Ingram of LEBC explains.
- Marcus Bank easy-access savings rate to fall to 0.5%on November 26, 2020 at 2:58 pm
The UK savings arm of Goldman Sachs will cut its easy-access rate from 0.7% to 0.5% in just over a fortnight on 11 December, just two months after it cut the rate from 1.05%.
- New debit card launches with initiative to help hunger charity FareShare. But how does it compareon November 26, 2020 at 9:02 am
A new debit card is promising to donate to a food redistribution charity backed by England footballer and free school meals campaigner Marcus Rashford every time customers spend.
- FCA takes down warning notice about debit card start-up Lanistaron November 25, 2020 at 3:14 pm
The regulator said the company was ‘carrying on regulated activities which require authorisation’ but took down the warning late last week after Lanistar promised to make changes to its marketing.
- Goodbye NS&I! Customer service shambles continues as rate cuts hiton November 25, 2020 at 9:18 am
National Savings and Investments yesterday slashed rates for its 25 million customers. But customers trying to move their money are having to wait weeks as they struggle with the website.
- How I won access to my disabled son’s frozen Child Trust Fund savingson November 24, 2020 at 2:36 pm
Catherine and her husband John, from Worcestershire, this month won the right to access their son Oliver’s CTF savings, which he cannot access because he is disabled.
- Best savings accounts for savers hit by NS&I rate cutson November 24, 2020 at 12:34 pm
Up to 25m savers with National Savings and Investments are likely to see the interest paid on their money plummet today, if they haven’t already shifted it elsewhere.
- Regular saver accounts: HSBC and First Direct slash rates againon November 24, 2020 at 12:32 pm
The bank and its offshoot First Direct have today cut the rate on its regular saver, which lets current account customers save between £25 and £250, from 2.75% to 1%.
- NS&I tries to get on top of cheque-axing Premium Bond prize problemson November 23, 2020 at 1:18 pm
Under-fire National Savings & Investments is seeking to make it easier for customers who need to provide their bank details as it prepares to stop sending out physical Premium Bond cheques.
- Starling Kite and HyperJar Kids: What’s the best account for children?on November 23, 2020 at 7:38 am
The traditional piggy bank is being ditched in favour of digital payments. But what is there on offer for children under 11 who want to bank like mum and dad?
- Banks offer to deliver cash to homes of vulnerableon November 22, 2020 at 10:53 am
Our research shows that customers of both Barclays and Tesco Bank can get £500 sent to their homes via Royal Mail special delivery – at no cost. NatWest also offers a cash-to-home service.
- Lanistar: Debit card start-up attracts attention of the FCAon November 20, 2020 at 8:33 am
Manchester City midfielder Kevin de Bruyne and Love Island winner Amber Gill were among the 3,000 paid to promote the new debit card, which the FCA said was operating without authorisation.
- Best cash Isas 2020: Where to get the best cash Isa rates and dealson November 19, 2020 at 9:38 am
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
- Best savings accounts: Now just two easy-access deals beat inflationon November 19, 2020 at 6:53 am
Savers can barely stop their money being eaten away by the rising cost of living if they leave it an easy-access account, but those with Britain’s biggest banks could be losing £69 a year after inflation rose.
- Short-term savings deals hit an all-time low of just 0.61%on November 18, 2020 at 9:49 am
Just a year ago, British savers could improve the returns on their deposits by locking away their cash for a year with a fixed-rate account or bond paying an average of nearly 1.3 per cent in interest.
- A fixed-rate savings deal could help protect your cash from inflationon November 18, 2020 at 8:59 am
Rates are set to continue drifting downwards, but a one or two-year fix could help protect your cash from inflation. A typical 12-month fixed deal now pays less than half what it did a year ago.
- NS&I’s prize mess! Phone lines in meltdown as savers are forced onlineon November 18, 2020 at 8:57 am
National Savings and Investments wants more customers to use its website, and will soon stop sending Premium Bond prizes in the post after more than 60 years.
- Best current accounts: Virgin Money offering wine rewardon November 17, 2020 at 2:51 pm
Those who make the move to Virgin Money’s digital current account, launched last December, can earn themselves 15 bottles of wine as a welcome bonus, which the bank claims are worth £180.
- Best home for your savings may be a bank you’ve never heard ofon November 15, 2020 at 2:32 pm
With interest rates across the market being slashed to near zero, the nation’s savers are urged to embrace providers and companies they may never have considered before.
- Customer service fiasco at National Savings & Investments rumbles onon November 15, 2020 at 1:26 pm
Phone waiting times at the Government-backed savings organisation are still breaching 40 minutes and customers are waiting weeks for complaints to be resolved.
- ATM usage slumps after Britons rush to withdraw cash before lockdownon November 12, 2020 at 8:41 am
The value of cash withdrawn between Friday and Sunday last weekend, the first one of Britain’s month-long lockdown, fell 41 per cent on the same three days in 2019, and withdrawals 47%.
- Last chance to bag M&S Bank’s top-rate 2.75% regular savings dealon November 11, 2020 at 8:48 am
Savers can pay up to £250 a month into the Monthly Saver and earn a fixed 2.75 per cent interest. Those who save the maximum £3,000 over the year will pocket around £45 by the end of it.
- Returns on Coventry Building Society’s Poppy Bond hit an all-time lowon November 10, 2020 at 1:03 pm
Britain’s second-largest building society Coventry has launched the latest version of its Poppy Bond, which sees 0.15 per cent of all money saved into it donated to the Royal British Legion.
- Current account savers miss out on more than £1bn a year in intereston November 4, 2020 at 9:20 am
Tesco Bank, which offered 1 per cent at the start of the year, now doesn’t pay anything. TSB’s Classic Plus account which paid 3 per cent on £1,500 at the start of the year will pay no interest from December 2.
- Will Brexit close your bank account? Britons abroad left in the darkon November 2, 2020 at 6:16 pm
When the UK leaves the EU after December 31, some British banks will no longer be able to offer accounts and credit cards to the more than one million expats living on the Continent.
- Could NS&I further squeeze savers and cut Premium Bonds again?on November 2, 2020 at 12:42 pm
Savers poured a net £23.8bn between July and September into NS&I as they continued to be attracted to its best buy rates after it decided to hold them up in May while other providers cut theirs.
- Should banks axe our free accounts? Our experts argueon November 1, 2020 at 12:40 pm
Jeff believes, like fish, chips and mushy peas, they are an integral part of this country’s DNA. While Rachel argues that her ‘free’ account is being paid for by someone else.
- Overdraft rates hit all-time high as interest-free buffers will soon disappearon October 31, 2020 at 9:42 am
Bank overdraft rates hit an all-time high last month and have more than doubled since March, according to figures published days before support for customers ends.
- Could banks charge you for looking after your money with negative rates?on October 30, 2020 at 6:25 pm
Banks are reluctant to say whether they would respond to negative interest rates by charging ordinary savers a fee to keep their money with them.
- Starling and Monzo top the charts for current account switcheson October 30, 2020 at 7:28 am
The number of people swapping bank accounts between July and September using the official switch service rose almost two-fifths on the previous three months, data shows.
- Free banking UK: Will we soon be paying for current accounts?on October 29, 2020 at 10:39 am
A perfect storm is brewing which could potentially see customers charged a monthly fee for having a current account.
- Prize problem for Premium Bond holders without emailon October 28, 2020 at 9:10 am
From December, NS&I is phasing out posting warrants – a type of cheque – to winners. It instead wants bondholders to provide bank details so it can pay the money into their account.
- Government urged to change rules over disabled Child Trust Fund injusticeon October 27, 2020 at 12:26 pm
Child Trust Fund providers and trade bodies handed the Ministry of Justice proposals last month which would let those with up to around £5,000 access money in certain cases.
- Santander making more changes to perks on 123on October 26, 2020 at 9:04 am
From Tuesday, the bank will alter the rate of cashback it pays on some bills – while doubling the monthly fee on its 123 Lite account to £2. The changes are disguised cutbacks.
- No savings account from Britain’s biggest banks even matches inflation of 0.5%on October 22, 2020 at 10:36 am
While 444 savings accounts match or better the latest inflation rate of 0.5% (down from 661 last month), not a single one is offered by a major name, according to figures from Moneyfacts.
- Savers endure over 160 cuts in a month as banks follow NS&Ion October 21, 2020 at 7:42 am
The 160 cuts come after last month’s announcement by National Savings & Investments of rates so low that the Treasury-backed bank is no longer seen as a major player.
- Principality Building Society offers NHS staff top rate savings dealon October 21, 2020 at 7:38 am
The Thank You Saver account aims to thank NHS employees for the role they perform in its heartland. The lender has 70 branches and agencies across Wales and in the borders.
- Monzo Premium costs £15 but offers 1.5% interest and a metal cardon October 20, 2020 at 11:03 am
The account will cost £180-a-year and fans should weigh up not just the metal card but whether they can get cheaper and better insurance elsewhere.
- Could the UK recreate China’s digital currency trialled in Shenzhen?on October 19, 2020 at 12:21 pm
As the UK Treasury announced new proposals to help people maintain access to physical cash, around 50,000 people in China have been handed £23 each in digital money.
- Get cashback at shops without having to buy anythingon October 18, 2020 at 8:58 am
The new Government proposal comes amid fears Britain is sleepwalking into a cashless society. A lack of access to cash hits two million Britons who still rely on coins and notes.
- Top tax-free rates are squeezed after NS&I’s cuts to savings rateson October 17, 2020 at 8:16 am
British savers have been dealt yet another blow after the government-backed NS&I took an axe to savings rates , throwing returns across the board into reverse.
- Post Office deposits top £2bn last month for the first time in 2020on October 15, 2020 at 6:37 am
The 7.7% annual rise in the total amount deposited and a more than 10% jump in the number of trips to pay in cash was largely driven by a rise in personal deposits.
- Best savings accounts: Have people stopped chasing better rates?on October 12, 2020 at 11:12 am
When it comes to hunting a good savings rate, it’s safe to say that since the pandemic unfolded in March, it has been an increasingly difficult endeavor.
- Is the posted paper bank statement a thing of the past?on October 12, 2020 at 9:59 am
The once-a-month paper bank statement could potentially be heading for the shredder as younger people opt for banking apps and digital budgeting tools instead.
- NS&I boss ‘really, really sorry’ for meltdownon October 11, 2020 at 9:24 am
We decided it was time NS&I told us what on earth was going on. So we invited chief executive Ian Ackerley to explain – and tell us what is being done to put things right.
- Green money guide: How to make your finances greeneron October 9, 2020 at 8:29 am
Caring about climate change and using your money to help rather than harm the planet is increasingly important to many of us.
- I accidentally sent £1,000 to the bank of William Hill and couldn’t get it backon October 8, 2020 at 6:52 am
Jane, 60, emailed us at the end of April after her bank TSB were originally unable to recover the money she had sent to the wrong account.
- Three strikes and you lose with Newcastle BS’s easy-access top buyon October 7, 2020 at 3:56 pm
Newcastle BS’s Triple Access Saver pays a top 1.05 per cent but limits you to taking money out just three times a year. It also guarantees the rate will not be slashed during the next 12 months.
- Best buy savings rates disappear in days as offline savers can’t keep upon October 7, 2020 at 8:23 am
Online savers can pick up as much as 0.8 per cent on easy-access money with Principality BS Web Save 3 , or 1.18 per cent fixed for one year with Atom Bank – but they need to act fast.
- Best savings rates: Coventry launches fourth best buy deal in a fortnighton October 6, 2020 at 3:34 pm
Building societies have continued to roll the dice at the top of the best buy savings tables, after Newcastle followed Coventry by launching a 1.05 per cent paying account with two catches.
- Banks set for ‘mass branch closures’ as pandemic pushes more people online on October 4, 2020 at 11:22 am
Derek French, founder of the Campaign for Community Banking Services, believes the biggest banks are keen to shrink their high street networks even further
- Complaints over NS&I service keep pouring in as savers are hit with delayson October 3, 2020 at 9:16 pm
Customers say waiting times for calls to be answered are frequently up to an hour.
- Household saving hit an all-time high during the coronavirus lockdownon September 30, 2020 at 4:13 pm
Britons stashed away more than ever before between April and June this year, official figures revealed, as the coronavirus lockdown kept the country at home and prevented spending.
- Accounts that offer prize draws could be savers’ only hope on September 30, 2020 at 8:01 am
This week, Nationwide has launched a rival account to NS&I’s highly popular Premium Bonds giving savers the chance to win £10,000, on top of ordinary interest.
- Savings rate cuts come thick and fast after brutal NS&I blowon September 30, 2020 at 7:46 am
Last week NS&I announced savage cuts to its Income Bonds, Direct Saver and Direct Isa, which will pay just 0.01 per cent, 0. 15 per cent and 0.1 per cent respectively from November.
- Lockdown saw 60,000 Britons cut off from cash machines on September 30, 2020 at 7:42 am
Up to 12 per cent of all branches and ATMs closed between April and June, according to the Financial Conduct Authority and Payment Systems Regulator.
- Nationwide launches savings lottery: Is it a better bet than Premium Bonds?on September 29, 2020 at 2:59 pm
Britain’s largest building society has launched another savings lottery, giving those who lock at least £100 away for 18 months a one-time shot at winning £10,000.
- NS&I to make ‘savage’ cuts to interest rates and Premium Bonds from Novemberon September 29, 2020 at 12:15 pm
There are fears that a recent recovery in savings rates could be thrown into reverse after National Savings & Investments today took a wrecking ball to its accounts this morning.
- Best buy savings rates already starting to fall in NS&I aftermathon September 29, 2020 at 10:20 am
Some 11 savings accounts were cut in two days at the end of last week while a further five closed their doors to new customers, with rate reductions almost certain to continue into this week.
- NS&I plunges into meltdown: Delays as rates tumbleon September 27, 2020 at 2:31 pm
We have been bombarded with emails and letters from customers who are at their wits’ end after tortuous dealings with call centres. The Bishops (pictured) are trying to transfer their Isas.
- Child Trust Funds: 200,000 disabled children may be locked outon September 26, 2020 at 7:15 am
As many as 200,000 severely disabled children over the next eight years could potentially be locked out of their Child Trust Funds unless their families pay hundreds or even thousands of pounds.
- Marcus Bank cutting its easy-access rate to 0.7%on September 25, 2020 at 11:32 am
Marcus, which launched to much fanfare in summer 2018, has cut the rate from 1.5% and the beginning to 1.3, 1.2 and then 1.05%, and this marks its deepest change yet.
- TSB to abolish current account interest from Decemberon September 25, 2020 at 6:52 am
TSB will be hoping its customers really don’t care about the interest paid on their savings after it announced its Classic Plus current account would no longer pay anything at all from December.
- Bank overdraft rates double from 12.34% to almost 27% in a yearon September 23, 2020 at 8:56 am
Regulators banned banks from charging extra fees for borrowing from April and required them to price overdrafts using an annual interest rate, with most high street names pricing rates as almost 40%
- Savers lose out on up to £7bn in interest by sticking with big bankson September 23, 2020 at 8:38 am
While smaller banks and building societies have been tentatively raising rates, big banks continue to pay virtually no interest at all. Yet money has been pouring into the big banks.
- Winnie the Pooh 50p coin launches today – could it be in your change?on September 22, 2020 at 11:18 pm
Winnie the Pooh is the latest character from a children’s book to appear on a 50p coin, complete with a jar of honey, although those hoping to find one in their change will be left feeling sour.
- 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.
Friday, February 26, 2021