A troublesome time for savers in this mid-week blog
As if the Government proposals for child benefit cuts weren’t enough to worry about, the mid-week money sections only further served to dampen the spirits of savers.
Simon Read at The Daily Mirror centred on that other Government cash cut debate – ISAs. Experts warn that if the Treasury decides to reduce the ISA allowance in its spending review, savers may start to feel disinclined to set their money aside. Read advises customers to head for accounts that pay high rates and provide interest as soon as they are opened.
At the Daily Mail Sylvia Morris looked at the changing circumstances surrounding savings, concentrating on how to get the best fixed-rate bonds before banks and building societies make further interest rate cuts. Morris urged savers to scan the best bonds in the market quickly in order to make a wise move now.
Further wise words of advice came from Holly Thomas at the Daily Express who reminded us that it’s still important to watch out for banking fraud, which totalled £186.8 million in losses for the first half of this year alone. The industry is increasing its fraud recognition tools but Thomas offers consumers top tips on how to stay safe when banking online or on the telephone.
The rest of the scores on the board this week were as follows:
Credit cards 10%