NS&I tries to get on top of cheque-axing Premium Bond prize problems
on 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 vulnerable
on 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 FCA
on 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 deals
on 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 inflation
on 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 inflation
on 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 online
on 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 reward
on 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 of
on 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 on
on 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.
Blow for loyal savers as plan for minimum interest rates is scrapped by banking regulator
on November 13, 2020 at 10:08 pm
The Financial Conduct Authority announced earlier this year that it planned to shake up the savings market to stop banks rewarding new customers at the expense of long-standing savers.
ATM usage slumps after Britons rush to withdraw cash before lockdown
on 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 deal
on 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 low
on 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 interest
on 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 dark
on 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 argue
on 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 disappear
on 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 switches
on 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 email
on 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 injustice
on 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 123
on 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.
Post Office to scrap a THIRD of its 2,000 ATMs in new blow to elderly and vulnerable
on October 26, 2020 at 12:03 am
The Post Office is retaining 1,400 machines and has promised to invest £16million to equip them with technology. Cash can still be withdrawn over the counter at 11,500 post offices.
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&I
on 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 deal
on 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 card
on 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.
Best savings rates: JN Bank UK and DF Capital launch good deals
on October 20, 2020 at 7:38 am
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.
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 anything
on 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 rates
on 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 2020
on 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 meltdown
on 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 greener
on 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 back
on 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 buy
on 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 up
on 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 fortnight
on 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 delays
on 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 lockdown
on 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 blow
on 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 November
on 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 aftermath
on 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 tumble
on 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 out
on 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 December
on 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 year
on 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 banks
on 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.
NS&I cuts: Where are the best savings rates now?
on September 22, 2020 at 9:53 am
Some 25million savers have been dealt with a hammer blow after National Savings & Investments announced savage cuts to its rates from the end of November.
Banking in Britain: Hounslow thriving due to ten bank branches
on September 21, 2020 at 9:25 am
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.
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.
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.
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.
Tuesday, November 24, 2020