MoneySavingExpert has had its say on the top current accounts to switch to
Savers have been urged to consider switching bank accounts if you feel you're not getting your money's worth from your bank. Martin Lewis' MoneySavingExpert team have picked out the best current accounts to switch to right now to benefit from freebies and better interest on savings.
In reaction to news the Bank of England was fixing interest rates, Martin Lewis told savers in his newsletter, that you should be getting at least five per cent interest or you're "being diddled". He wrote: "Banks are likely making billions, from millions of people earning diddly-squat on savings. Yet it only takes a few minutes to turn this around."
With a current account, you can put money in and take money out as you please and you are given a debit card. Your money is secure thanks to the Financial Service Compensation Scheme, which guarantees up to £85,000 per person, per financial institution. This means that if your bank ever went bust, you would be guaranteed your money back up to £85,000. When it comes to the top current accounts, the MoneySavingExpert team have had their say on the best accounts to switch to.Top for free sign-up cash Before you switch before switching, MSE have picked out five handy things to know, to ensure you make the right decision. They are:
Bank account need-to-knows There are a few points you need to think about when choosing a new bank account to ensure you make the right selection:
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