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The last 5% savings deal goes up in smoke: Nationwide cuts its FlexDirect current account interest to 2% – and 22 other rates are also hit FlexDirect paid 5% interest for a year on balances of up to £2,500 It helped the building society gain nearly 550,000 switchers in 6 years It will be cut … Read more
Controversial new overdraft rules come into force today which would have seen some banks increasing overdraft rates to nearly 40 per cent. The changes, announced before the coronavirus outbreak, mean banks can only charge one single annual interest rate for both arranged and unarranged borrowing. But with more households’ under financial strain thanks to Covid-19, … Read more
Britons are visiting supermarkets less often but spending more, and shopping at local newsagents more regularly as the coronavirus upturns the country’s usual shopping practices, banking data suggests. Transaction data provided to This is Money by digital banks Revolut and Starling, who between them have 4.25million UK customers, found newsagents like Nisa and McColl’s have … Read more
It’d be fair to say that Isa season 2020 has been somewhat overshadowed by more pressing global events. But although two cuts to the Bank of England base rate, a cheap funding scheme for banks and an economic shutdown mean any hope of new top tax-free savings rates has vanished, the underlying rules remain the … Read more
How did Agent Million deliver the jackpot news to April’s Premium Bond winners during coronavirus? NS&I confirms ‘secret plan’ Every month, two Premium Bond holders win £1m They are given the good news in person by an Agent Million We asked NS&I whether it was still visiting people in person to let them know It … Read more
Nine High Street banks and building societies have pledged support for overdraft customers after Money Mail demanded action. We called on banks last week to halt overdraft charges for households struggling in the wake of the coronavirus crisis. With the cost of borrowing at a record low, we asked them to postpone planned fee hikes … Read more
Just five days until Isa deadline… and with bank opening hours slashed you may need to open an online account By Sylvia Morris For The Daily Mail Published: 22:01 BST, 31 March 2020 | Updated: 22:52 BST, 31 March 2020 Savers have just five days left to use this year’s cash Isa allowance and earn … Read more
Investec relaunches a best buy Notice Plus savings account which pays up to 1.65%… 20% of which can be accessed instantly Investec’s Notice Plus account is a notice account with an easy-access element The rate paid depends on how long the notice period is and the easy-access size A saver who wanted to access 10% … Read more
Savers are braced for a round of brutal rate cuts: Make sure you are ready to switch to a better account By Lindsay Cook, Financial Mail On Sunday Published: 22:58 BST, 28 March 2020 | Updated: 09:09 BST, 29 March 2020 Many savers can expect a round of brutal interest rate cuts to their accounts … Read more
Get ready to switch accounts…your savings rates are set to fall By Lindsay Cook, Financial Mail On Sunday Published: 22:58 GMT, 28 March 2020 | Updated: 22:58 GMT, 28 March 2020 Many savers can expect a round of brutal interest rate cuts to their accounts from this week – after the Bank of England base … Read more