Qualified advisers answering your
Financial Questions
call 0800 092 1245

Online bank accounts recommended for savers

Savers looking to secure a high rate of interest for their cash should consider an online savings account, according to Halifax. Figures from payments company Apacs show that the number of adults using online banking increased by 174 per cent between 2001 and 2006, bringing the number of users from 6.2 million to 17 million. The appeal of the accounts is in part down to their convenience, but they are also winning custom through the increasingly competitive rates they offer. Jason Clarke of Halifax said that banks are able to offer the competitive rates "because it cost them less to run those accounts and they pass that on to the customers". However, savers looking to accumulate cash for a particular event such as a wedding, would be best off with a "fixed-rate product…something that will tie your money up for a couple of years ", according to Mr Clarke.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details