Moneynet in The Press

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beware of the hidden catch

Published: 21/02/2009

The Times (Main) – 21st February 2009

  

Savers are receiving an average of only 0.29 per cent interest on notice accounts and 0.51 per cent on instant access accounts, according to the latest Bank of England figures.

 

If you want to open a best-buy current account for your savings but not for your day-to-day banking, you still have to meet the minimum monthly deposit requirements.  The best way to do this is to set up a standing order from your regular current account.  Andrew Hagger at Moneynet.co.uk, the price comparison website, says: “Each month, use this standing order to deposit the required minimum into your new account, and then set up a reverse standing order to have it transferred back into your original account a day or two later.”

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