Running a savings account
Don't just save your money and then forget about it - interest rates change all the time.
Check your accounts regularly to see if you're still getting the best deal. Don't be afraid to move your money but beware of any interest penalties that might be applied. Although loyalty is an admirable quality, it can mean that you could be missing out on stacks of deals on the market.
Top tips
- Review your savings account every six months or so to see whether you can get a better deal elsewhere.
- Before moving your money, ask your provider if they can offer you a better deal.
- If you're someone who prefers to deal with people face-to-face, check out how many local branches there are.
- Keep an eye on your provider. New products are launched all the time and these could offer better rates than your current savings account. Their purpose is to attract new customers so existing customers are not always made aware of them.