HIGHEST Interest Savings Account

quark

A few weeks ago on BBC Radio (I think it was Moneybox) they had a feature about a new savings account where the cash is switched very frequently by the savings company (It wasn't a bank) into whichever bank is offering the highest interest rate at any particular time. All the switches are done by the company; the account holder doesn't have to do anything (except pay an annual service charge - presumably a percentage of the amount involved).

Does anyone remember the name of the company involved or any other bank or company that offers this service. At present I switch savings accounts several times a year to try and chase the highest interests rates but it is very boring to keep switching.

liitleblackcat

It was called Intelligent Money. You can download the programme transcript here. It starts on page 9.

quark

Thank you Littleblackcat. I've looked up the BBC transcript. It was useful. It sounds like a good idea and I am sure that the service would save me more than the 0.5% annual fee. However, I think I will wait until one of the larger firms offers something similar.