Banks slammed by savings experts for treating customers with ‘scornful disdain’ following failure to pass on latest Bank of England base rate rise
Greedy high street banks have been slammed by savings experts for treating their customers with ‘scornful disdain’ – following their failure to pass on the latest Bank of England base rate rise.
The base rate now stands at 1 퍼센트, but most high street instant access savings accounts still pay a paltry 0.1 퍼센트.
HSBC Flexible Saver, NatWest Instant Saver, Lloyds Standard Saver and Santander Everyday Saver all pay 0.1 퍼센트. Barclays pays just 0.01 per cent on its Everyday Saver. 안나 보 우스, co-founder of rates scrutineer Savings Champion, 말한다: ‘It is unethical the way that high street banks are allowed to treat their customers with such scornful disdain.’
Hard going: The base rate now stands at 1 퍼센트, but most high street instant access savings accounts still pay a paltry 0.1 퍼센트.
그녀는 추가: ‘Barclays stands out as particularly despicable for not passing on any savings this year – paying just 10p for every £1,000 saved.’ Rachell Springall, finance expert at data firm Moneyfacts, 말한다: ‘Loyal savers with an instant access savings account held in one of the major banks will see little benefit from the rate rises – so should consider switching.
‘Perhaps then high street providers might take notice.’
The base rate has increased four times since the start of December, 였을 때 0.1 퍼센트.
The Mail on Sunday asked the five major high street banks why – ten days since the latest rise – they haven’t passed it on to savers. Lloyds says ‘savings rates remain under review’, and HSBC stated ‘we continually review our savings products range’. Barclays says it plans to increase savings rates by between 0.09 과 0.4 per cent – but only in June.
Santander said: ‘Savings products linked to the Bank of England base rate will increase by 0.25 per cent from June 1.’ It made no mention of its easy-access account.
NatWest did not reply.
THIS IS MONEY’S FIVE OF THE BEST SAVINGS DEALS
Gatehouse bank pays 1.3% on its easy access savings account. It can be opened online with £1,000. Enjoy unlimited free withdrawals. This rate is the ‘expected profit rate’ under Sharia compliant accounts.
Aldermore pays 1.25% to holders of its ‘Double Access account’. The account can be opened with £1,000. It limits savers to only two withdrawls per year. If exceed this, the rate will drop to 0.1%.
Al Rayan Bank pays a market-leading rate of 2.28% on its one-year fixed rate savings account. The minimum deposit required is £5,000.
Atom Bank pays an extremely competitive 2.4% on its two-year fixed rate savings account. It can be opened with just £50 online.
Marcus Bank pays a tax-free 1% interest on its easy-access cash Isa. It requires £1 to open. You can’t transfer your existing cash Isas into this account. The rate includes a 0.1 percentage point bonus payable for the first 12 개월.
