The Bank of England suggests raising savers’ protection to £1 million. What are the implications and why now?
The Bank of England has released a proposal paper to help better protect savers and smooth concerns in the savings market. Among the four proposals are details to increase depositor’s protection from £85,000 up to £1million but only for temporary … Read More
The financial watchdog the Financial Conduct Authority has issued an interim report into the savings market. The findings though unsurprising highlight the key issues in the savings market and the extent of the problem savers face. A key concern is … Read More
At last the New ISA (NISA) has arrived today, but with it comes the inevitable confusion. The main problem arises from the fact that fixed rate ISAs once closed for new business usually restrict savers from adding to their investment. … Read More
National Counties Building Society to cut rate on its 45-day notice cash ISA just months after featuring in the best buy lists
Savers were dealt a fresh blow this week after it was announced that the rate on a best buy Cash ISA, which has only just been withdrawn from sale and featured in the best buy tables in April, will be … Read More
The Budget brought with it some positive news for savers, not least the increase to the total ISA allowance from £11,880 to £15,000 from 1st July 2014, but better still allowing savers to invest the total amount into cash. This … Read More
Savings rates have been on a downward spiral for years, not least since the Bank of England base rate hit 0.5% over 5 years ago, but also following the introduction of the Funding for Lending scheme in 2012. The continual … Read More
It may make sense to save with Co-operative Bank/Britannia. Just don’t save more than £85,000 with one bank
The losses announced by Co-op Bank will no doubt leave some savers cold, not least its members, including savers with Britannia. However, they are not the first to show signs of financial difficulty in recent years. Unsurprisingly Britannia has recently … Read More
The Budget took many of us by surprise, none more so than the banks and building societies that now have to scramble in preparation for the new ISA rules coming into force on 1 July. Some providers were quick to … Read More
With just days left until the end of the 2013/14 tax year, savers would be wise to move fast if they don’t want to miss out on this tax year’s ISA allowance. That’s why we’ve worked up a handy guide … Read More
Look for cash Isa fixed and variable rate best buys (listed below) After all just topping up could cost savers dearly
As we near the end of the current tax year, we expect the usual rush of savers looking to maximise this years’ ISA allowance. However choosing the wrong account could cost savers over time, as some existing ISAs pay derisory … Read More
Anna Bowes is one of the founders of Savings Champion a no-nonsense, simple to use website that helps everyone to pick the best savings account for them and then, if they sign up for Rate Tracker, ensures that they could always stay on the best savings rate. She is a regular contributor to the BBC's Money Box and other news programmes as well as the national press, providing expert analysis and commentary on the UK savings market. Anna shares this passion for great savings advice with her long-time colleagues and friends Sue Hannums and Chris Shaw with whom she developed the idea for Savings Champion.