Number of savings accounts that beat inflation fall 80% in a month

The number of savings accounts that now beat inflation have dropped four fifths thanks to a surprise rise in the cost of living. Inflation jumped to its highest level for four months in July, with the Consumer Price Index increasing from 0.6 per cent to one per cent, according to the Office for National Statistics. … Read more

Savings rates slashed by nearly two thirds during pandemic

Already pitiful savings rates have been slashed by nearly TWO THIRDS during the coronavirus pandemic and continue to set record lows Average savings rates have been slashed for the fifth consecutive month Coronavirus pandemic has seen fewer savings options available Easy-access accounts tumbled from 0.56% in March to 0.22% this month  By Grace Gausden For … Read more

Customers forced to wait THREE HOURS to talk to their bank

Banking customers unable to visit a branch are being forced to wait for hours on the phone, a Money Mail investigation reveals. It is the latest blow for customers struggling to get a basic banking service in the pandemic, thanks to heavily restricted hours at High Street branches. Lloyds and NatWest have also paused or … Read more

Customers forced to wait THREE HOURS to talk to their bank

Banking customers unable to visit a branch are being forced to wait for hours on the phone, a Money Mail investigation reveals. It is the latest blow for customers struggling to get a basic banking service in the pandemic, thanks to heavily restricted hours at High Street branches. Lloyds and NatWest have also paused or … Read more

Child savers missing out on £3m a year as Junior Isa rates are axed 

Child savers are missing out on £3 million a year after High Street banks took the axe to Junior Isa rates. Families poured about £555 million into cash Junior Isas (Jisas) last year. But the average rate is now down to 1.91 per cent from 2.46 per cent in January, according to data firm Moneyfacts. … Read more

New short-term best buy fixed-rate savings deals and cash Isas

More green shoots have appeared in the savings market as the recent revival in fixed-term savings rates has continued over the last week. Challenger banks have continued to increase their rates on short-term fixed-rate deals while best buy tax-free Isas have also been launched. Experts said the presence of Treasury-backed National Savings & Investments at … Read more

Best savings rates: QIB UK and United Trust Bank launch best buy fixed-rate bonds

Signs of ‘slight green shoots’ amid savings gloom as challenger banks launch new best buy fixed-rates Savings rates on all accounts have collapsed since March due to coronavirus  Over the last few weeks some banks have upped their fixed-rates Experts say these ‘baby steps’ suggest a ‘slight revival’ in fixed-rate bonds By George Nixon For … Read more

Best current accounts: Halifax launches £100 switch offer

Current account customers who switch to Halifax using the official service can get a £100 bonus from today, in a move that might help revive competition among banks and building societies.   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 … Read more