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6 Comments

  1. 19th February 2020 / 4:01 pm

    I only keep some of my emergency cash in TSB so not expecting huge returns for instant access, but the rate reduction, first from 5% and now down to 1.5% is particularly annoying with inflation at 1.8%.

    Nationwide have just introduced a new ‘prize-draw’ type savings account called Start to Save. Saving regularly between £50-£100 per month, earn 1% interest and be entered into 4 draws to win £100. Apparently, there’s a 1 in 67 chance of winning, which is quite high.

    It’s aimed at people who probably have no savings whatsoever but could be an alternative to other accounts.

    • Faith
      Author
      21st February 2020 / 8:54 am

      Hi Weenie – Share your frustration about TSB. I wonder how many people will open the new Nationwide account? When I saw the news I kind of lumped it in with Premium Bonds – nice if you do win something, but can’t bank on it. At least Nationwide’s Start to Save means you definitely get 1% interest, unlike zip all guaranteed from Premium Bonds!

  2. 20th February 2020 / 7:00 pm

    It’s a shame to see that high-interest current accounts are disappearing! Would love them to make a return eventually – such a savvy way of saving money! Thanks for sharing.

    • Faith
      Author
      21st February 2020 / 8:54 am

      Yup sadly missed. Fear the higher rates are unlikely to return, if the banks are backing away from using them to entice new customers.

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