moneysaving

No savings account from Britain’s biggest banks even matches inflation of 0.5%

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Savings shame of the big banks: High Street savers see their money waste away as inflation devours the meagre returns of rock-bottom rates The Consumer Prices Index more than doubled to 0.5% in September  This cut the number of inflation-matching accounts by around a third to 444  Even after the rise, inflation is still historically … Read more No savings account from Britain’s biggest banks even matches inflation of 0.5%

Will Brexit close your bank account? Britons abroad left in the dark

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Thousands of Britons living abroad may still not have been told that their bank accounts will be shut before the end of the year. When the UK leaves the European Union after December 31, some British banks will no longer be able to offer accounts and credit cards to the more than one million expats … Read more Will Brexit close your bank account? Britons abroad left in the dark

Rate rewards for NHS heroes with new account from Principality

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Rate rewards for NHS heroes with new account from Principality Building Society By Money Mail Reporter For The Daily Mail Published: 22:01 BST, 20 October 2020 | Updated: 22:23 BST, 20 October 2020 Principality’s Thank You Saver aims to thank NHS employees for the role they perform in its heartland. Principality Building Society, the sixth … Read more Rate rewards for NHS heroes with new account from Principality

Monzo Premium costs £15 but offers 1.5% interest and a metal card

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Monzo has embraced the industrial revolution in banking by following Apple and Revolut in launching a debit card made of white steel. Its new Premium account costs £15 a month and comes with features including phone and travel insurance, making it more like a packaged bank account than Monzo Plus, its previous attempt at a … Read more Monzo Premium costs £15 but offers 1.5% interest and a metal card

Best savings rates: JN Bank UK and DF Capital launch good deals

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Savers haven’t been handed much good news in 2020, even before National Savings & Investments made heavy cuts to its best buy rates three weeks ago. The planned reductions from the Treasury-backed bank, which come in next month, have effectively pulled the rug out from underneath what had looked like a slight recovery in savings … Read more Best savings rates: JN Bank UK and DF Capital launch good deals

Could the UK recreate China’s digital currency trialled in Shenzhen?

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In the same week the British Treasury announced new proposals to help maintain access to physical cash, around 50,000 people in China were handed 200 digital yuan, around £23, each. Much in the way the UK government handed out ‘helicopter money’ to those eating out to help out in August, China’s version last week had … Read more Could the UK recreate China’s digital currency trialled in Shenzhen?

Banks could charge you for looking after your OWN cash

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Just over two years ago, it seemed the UK economy had at last turned a corner. An end to austerity post the 2008 financial crisis was in sight, the economy was in growth mode, unemployment was falling and wages were rising. The nation was smiling again.  Although Brexit remained an ‘issue’, the positive signs were … Read more Banks could charge you for looking after your OWN cash

Top tax-free rates are squeezed after NS&I’s cuts to savings rates

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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.   The average rate paid by the best five easy-access cash Isas had risen from 0.78 per cent to 0.92 per cent between the start of September and 21 September, when National … Read more Top tax-free rates are squeezed after NS&I’s cuts to savings rates