Thousands of Barclays customers face account changes coming into effect on January 31, 2025, with interest rates on savings, investment, and current accounts set to decrease. The impact will vary depending on the account balance, with those holding less than £32,000 seeing the most significant changes. Other banks, including Starling and First Direct, are also making adjustments to their savings account rates, highlighting a trend of decreasing returns on savings.
The changes affect a mixture of savings, investment and current accounts and thousands of customers - so it's good to be aware of what's coming up.Bank account change for thousands of Barclays customers coming in WEEKS
If you have more than £32,000, you'll already meet the £4 monthly minimum anyway, so you won't need to pay any more. This means that a customer with the maximum amount in their account could earn an extra £162.50 a year inCustomers who currently have a sole or joint current account with Starling will continue to benefit from the perk, as well new customers, until this date.
The change could mean First Direct customers are forced to wait in lengthy queues to speak to someone at the counter.Many savings accounts offer miserly rates meaning that money is generating little or no return.Easy access savings accounts offer flexibility for customers, meaning they can dip in and out of cash when needed. However, the caveat is that rates can change at any time.
BANKACCOUNTCHANGES SAVINGSACCOUNT INTERESTRATES FINANCIALMARKET CONSUMERFINANCE
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