MSE News: Sick of low savings rates? Switch and get up to 6% 17 January 2014 at 2:31PM in Savings & Investments 3 replies 1.9K views

Former_MSE_Helen

"While many savings accounts offer dismal sub-1% rates, there are always tricks to squeeze out better deals..."

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Sick of low savings rates? Switch and get up to 6%




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Rollinghome

Yes, and, to be frank, even more sick of misleading Daily Mail style headlines by journos. The 6% you refer to is for a regular saver's account only available to current account customers of that bank which allows payments of just £300 per month for only one year.

Why doesn't MSE have you do something useful with your time and present an authoritative analysis on how users can save hundreds or thousands of pounds by choosing the best investment platform in the light of RDR2?

Are you aware of the announcement this week by Hargreaves Lansdown and of how many of your users are extremely unhappy at what they see as the imposition of unfair terms accompanied by high exit penalties if they find the new terms unacceptable?

That is surely what a half-decent consumer finance journalist should be investigating?

innovate

MSE does savings but is not up there on anything to do with investing. Different skills and knowledge required.

Also, there is nothing in the article that hasn't been discussed on the forums for months. In fact, there are more options on the forum than in the article, strangely.

This comment probably earns me a ban.

jimjames

innovate wrote: »

MSE does savings but is not up there on anything to do with investing. Different skills and knowledge required.

Also, there is nothing in the article that hasn't been discussed on the forums for months. In fact, there are more options on the forum than in the article, strangely.

This comment probably earns me a ban.

Very true and also very frustrating.

There have been a number of posts recently giving details of how to get the best savings rates but this one doesn't really cover it.

For example I'd previously shown how you can get the equivalent 12.5% on £1000 by using 2 current accounts and moving money once a month. That doesn't need a regular saver with the restrictions that brings. Considering a majority of people have below that amount of savings it might be quite a useful explanation for MSE users.