The amount of cash poured into Individual Savings Accounts by Britons across the country fell by 6 per cent to an average of £6,049 between the last two tax years, fresh data from HM Revenue & Customs has revealed. For people on an average salary, total adult Isa pots are typically coming in at around … Read more
Rock-bottom borrowing costs mean it is increasingly expensive for the Government to raise cash from savers, according to National Savings & Investments, raising concerns its market-leading savings rates could be cut. It cost the Treasury-backed bank almost £887million more to raise money from savers between April 2019 and March 2020 than if the Treasury borrowed … Read more
The £6.8bn High Street savings robbery: All major providers set to pay just 0.01% interest with easy-access deals from next month By Sylvia Morris For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 23:47 BST, 23 June 2020 Loyal savers are missing out on billions of pounds in interest by sticking with … Read more
Bank staff accused of ‘interrogating’ and turning away OAPs who travelled miles claiming their visits weren’t essential By Amelia Murray and Fiona Parker For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 22:01 BST, 23 June 2020 Bank branch staff have been accused of ‘interrogating’ elderly customers at the door, then turning … Read more
Some rare good news for savers as rise in the cost of living falls to a four-year low of 0.5% By Money Mail Reporter For The Daily Mail Published: 22:01 BST, 23 June 2020 | Updated: 22:01 BST, 23 June 2020 The rise in the cost of living fell to a four-year low of 0.5 … Read more
Savers piled 303 per cent more cash into easy-access accounts during March and April compared to the same period last year, as banking industry data shows how people opted to keep cash at hand as the coronavirus pandemic unfolded. Some £11billion was poured into easy-access accounts over the two-month period, compared to just £2.7billion in … Read more
Surge of wealthy savers turn to platforms to spread their cash and risk since coronavirus pandemic hit in March The likes of Hargreaves Lansdown and Raisin saw a surge of interest in March That was in the immediate aftermath of dramatic stock market falls Since then platforms have continued to see interest from savers as … Read more
Economic lockdown has dealt a big blow to those fighting against the drive towards a cashless society. Payment by plastic and mobile phone has become more popular than ever. But some hardy campaigners are determined to keep cash on the high street. No one is battling more than Natalie Ceeney, author last year of an … Read more
Three months of brutal cuts to savings rates means the best cash Isa with no strings attached pays just £130 interest a year on the full £20,000 tax-free allowance. And falls in tax-free rates mean the best Isa available anywhere at the moment – a two-year fix – pays less interest than the best easy-access … Read more
More than 600 savings deals now match or beat inflation after prices rose by their lowest level in May since the 2016 Brexit referendum, but with rates at record lows the news will bittersweet for savers. The consumer prices index measure of inflation stood at 0.5 per cent in May, a four-year low and the … Read more