Banking & Savings

Navigating the world of banking can be overwhelming with the vast array of services available. From current accounts to credit cards and savings options, it can be challenging to identify which ones best suit your needs.

Security is also a key consideration when managing your finances. Currently, banking institutions in the UK offer protection for your deposits up to £85,000 per person under the Financial Services Compensation Scheme (FSCS). While it's unlikely that a bank would fail, it's wise to ensure your money is safeguarded, especially when dealing with larger amounts.

In this section, we'll explore some of the accounts we've used over the years that not only provide peace of mind but also offer rewarding benefits.

Is American Express the top choice for a credit card with excellent customer service and no annual fee?

American Express (AMEX) has made significant strides in the UK over the years, establishing itself as a standout option in the credit card market. We recall a time when many retailers were hesitant to accept AMEX, but today, such instances are rare.

There are several reasons why American Express credit cards are highly regarded. While they carry a premium image, the exceptional customer service truly sets them apart. Given the rise in online shopping, encountering issues with orders is not uncommon. In such cases, AMEX’s dispute resolution process shines. If you are unable to resolve a purchase issue with a retailer, you can file a dispute with AMEX. They will act as an intermediary, directly contacting the retailer on your behalf. For lower dispute amounts, AMEX often resolves the issue quickly by crediting your account, a level of service that is rare among credit card companies.

Two standout AMEX cards are the "Cashback Everyday" and "British Airways American Express" credit cards, both of which come with no annual fees. The Cashback Everyday card offers cashback on your purchases, such as 1% back when you spend over £10,000 in a membership year. The BA AMEX card, on the other hand, is tailored to British Airways enthusiasts, offering a companion voucher after spending £15,000 in a membership year, which can be used for a 2-for-1 offer or 50% off airfare in specific classes. While both cards have premium versions with additional benefits, they do come with annual fees, so be sure to consider that.

If you’re interested in applying for either of these cards, click the links below to receive a special signup reward from us!

Is Chase the Top Online Bank for UK Customers?

Since its launch in the UK in 2021, Chase Bank has quickly become a favourite for those seeking an efficient and secure banking experience. As a fully app-based bank, it offers a sleek, numberless debit card, prioritising security and convenience.

• Ease of Use & Excellent Service: Chase combines intuitive app navigation with top-tier customer service available 24/7, ensuring seamless banking.

• Competitive Rates: Enjoy attractive savings rates of 3.50% on easy-access savings accounts, perfect for those who prefer to manage both current and savings accounts in one place.

• 1% Cashback on Everyday Spending: Earn cashback on all your purchases, helping your money go further.

• Zero Transaction Fees Abroad: Ideal for traveler's, Chase offers zero fees on foreign transactions, making it cost-effective to use your card globally.

• 5% Round-Ups: Save effortlessly with a 5% bonus on round-ups to the nearest pound on your everyday spending.

• Numberless Debit Card: Enhanced security is at the forefront, with a numberless debit card you can freeze via the app in just a few taps.

  With its combination of innovative features and a customer-first approach, Chase Bank is reshaping the UK banking landscape.

Optimise Your Savings with Easy Access, 90-Day or One Year Fix Accounts for Balances Up to £250,000

Investec's Standout Savings Accounts: "Online Flexi", "90-Day Notice" and "1-Year Fixed Rate Save".

Investec, a trusted name in banking for over 50 years, offers three standout savings accounts: the Online Flexi Saver, 90-Day Notice Saver and the 1-Year Fixed Rate Save Headquartered in London, Investec combines stability with competitive interest rates, providing excellent options for savers.

• Online Flexi Saver: Offering a competitive 4.4% variable interest rate, this account provides the flexibility to access your funds anytime, making it ideal for those who value liquidity without compromising on returns.

• 90-Day Notice Saver: For savers seeking higher returns, the 90-Day Notice Saver is a great option, offering an attractive 4.84% variable interest rate. While you’ll need to provide 90 days' notice to withdraw, the enhanced rate makes it a smart choice for those with longer-term savings goals.

• 1 Year Fixed Rate Saver: For investors seeking a stable, long-term option, this offer provides an attractive fixed interest rate of 4.5%. Please note, however, that early withdrawal is not permitted, and your funds will remain locked until the end of the investment term.

It's important to consider the Personal Savings Allowance: any interest earned above this limit may be subject to tax, requiring you to complete a Self Assessment Tax form for HMRC.

Explore these accounts today—one of them may be the perfect fit for your savings strategy.

Cash ISA from Goldman Sachs: A Solid Option for High-Rate Taxpayers Seeking an Alternative to Stocks & Shares ISA

For high-rate taxpayers seeking a secure savings option, the Goldman Sachs Cash ISA, currently offering a 4.3% interest rate, could be an excellent choice. While Goldman Sachs is well-known as a leading investment bank, they introduced their UK consumer product, Marcus, in 2018. Keep in mind that your savings are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS), and any gains are tax-free.

Please note that the annual limit for contributions to any individual type of ISA (Individual Savings Account) is currently capped at £20,000 for the tax year.

Ready to learn more? Click the link below for additional details.

Looking for the Best Easy Access Savings Account for Up to £2M, Guaranteed by the Government?

If you’re in the fortunate position of having more funds than the average saver, it may be worth considering the National Savings & Investments (NS&I) "Direct Saver." As a government-backed institution, NS&I ensures that your money is fully protected, offering you complete peace of mind.

The NS&I Direct Saver offers an Easy Access account where you can deposit up to £2 million with a competitive interest rate of 3.50%. While the rate is attractive, the real benefit lies in the security of knowing that your entire investment is safeguarded. However, do remember that any interest earned above your Personal Savings Allowance will be subject to tax, you will need to fill in a Self Assessment Tax form to declare to HMRC.

NS&I also offers other Easy Access options, including a Cash ISA, but the Direct Saver currently provides the best interest rate for high deposit amounts. We highly recommend exploring their full range of products, including premium bonds, which are detailed in our "Invest" section.

Ready to secure your savings? Click below to learn more.