Savers have stashed away almost £200billion since the pandemic began, according to the latest Bank of England figures. Households deposited an additional £10.7billion with banks and building societies in April, bringing the total deposited since 31 March 2020 to £193billion. Savers currently have almost £1.7trillion locked away in bank accounts, according to the Bank of … Read more
National Savings & Investments forced to pay out almost £1m in compensation as result of customer service meltdown By Rachel Rickard Straus, Financial Mail On Sunday Published: 21:50 BST, 19 June 2021 | Updated: 21:50 BST, 19 June 2021 National Savings & Investments was forced to pay out almost £1million in compensation as a result … Read more
Savings habit slump: Britons continued to stash money away as lockdown eased – but the average amount dipped by 29% People are still saving after lockdown restrictions have eased, new data shows However, the average amount being saved is 29% less than in March More people are found to be spending on eating out and … Read more
Savers pull billions from NS&I accounts after the Treasury-backed bank slashed its rates to as little as 0.01% Savers have pulled £24.5bn out of NS&I accounts in just eight months However, they have also invested £9.8bn into the bonds over the same period This brings NS&I’s the withdrawal figure between November and April down to £14.7bn … Read more
A quarter of Britons have less than £500 saved despite a recent surge in people tucking cash away in the pandemic Some 13% of UK adults have no savings at all whilst 26% have less than £500 The figures indicate a widening of the financial wellbeing gap Many adults are saving less as spend more … Read more
A quarter of Britons have less than £500 saved despite a recent surge in people tucking cash away in the pandemic Some 13% of UK adults have no savings at all whilst 26% have less than £500 The figures indicate a widening of the financial wellbeing gap Many adults are saving less as spend more … Read more
The amount of money saved into Lifetime Isas more than doubled last year as deposits into tax-free accounts aimed at first-time buyers topped £1billion for the first time. In a sign the Lifetime Isa is becoming increasingly popular, the number of accounts which received deposits in 2019-20 also more than doubled to 545,000, according to … Read more
Collection of more than 400 piggy banks to be exhibited at the Museum of Savings in Norwich By Toby Walne, Financial Mail on Sunday Published: 21:51 BST, 12 June 2021 | Updated: 21:51 BST, 12 June 2021 The piggy bank has been introducing youngsters to the idea of saving cash for more than a century … Read more
Metro Bank cuts interest it pays on its savings accounts – and experts advise customers to shop around By Jeff Prestridge, Financial Mail on Sunday Published: 21:50 BST, 12 June 2021 | Updated: 21:50 BST, 12 June 2021 Metro Bank has taken an axe to the interest it pays on its savings accounts. In a … Read more
Thousands of savers left waiting as long as three months for Nationwide Isa transfer bonuses after loyalty deal sparked stampede for top-rate offer The Isa paid 0.75% on an 18-month term and came with a £50 transfer bonus That bumped the rate up to close to the best buy 5-year fix Some 250,000 savers applied … Read more