MONEY Virgin Money Ditches Foreign Currency Fees for Debit Cards Savers

The Sunday Times March 8, 2020 15 MONEY Best Buys CURRENT ACCOUNTS FOREIGN MORTGAGES CREDIT INTEREST CURRENCY 2-YEAR FIXED RATES Provider Account name Account fee Interest rate 1 Balance Contact Lender Rate Scheme Deposit Fee Notes Contact These are the interbank Co-operative Bank Current with Everyday Rewards None £4 a month – 0345 721 2212 Barclays 1.21% Fixed to 30.04.22 60% £999 LV 0333 202 7580 rates at 5pm on Friday, 2 Nationwide FlexDirect None 5% £0.01-£2,500 0800 302 010 which show where the HSBC 1.44% Fixed to 30.06.22 20% £999 LV 0800 494 999 Halifax Reward None £2 a month – 0345 720 3040 market is trading. Coventry 1.75% Fixed to 30.06.22 10% £999 LV 0800 121 8899 They are not indicative OVERDRAFTS * 3-YEAR FIXED RATES of the rate you will be Provider Account name Account fee Interest rate 3 0% overdraft limit Contact able to get. Lender Rate Scheme Deposit Fee Notes Contact First Direct 1st Account None 15.9% £250 0345 600 2424 HSBC 1.34% Fixed to 30.06.23 40% £999 LV 0800 494 999 M&S Bank Current Account None 15.9% £100 0800 756 7777 EURO Coventry 1.79% Fixed to 30.06.23 15% £999 LV 0800 121 8899 Starling Current Account None 15% £0 starlingbank.com GBP>EUR Virgin Money 2.08% Fixed to 01.07.23 10% £0 CR 0345 605 0500 FUND FOCUS 1 Based on funding of £1,000 a month. 2 Introductory rate for one year, then 1%. 3 Equivalent annual rate. * Based on overdraft of £500 for 15 days a month. LONG-TERM FIXED RATES SVM UK GROWTH Some accounts require minimum funding/direct debits to open or receive rates shown. Source: Moneyfacts.co.uk Lender Rate Scheme Deposit Fee Notes Contact HSBC 1.44% Fixed to 30.06.25 40% £999 LV 0800 494 999 What it is This £168m fund aims to 1.15 Yorkshire BS 1.9% Fixed to 31.05.25 15% £495 V 0345 166 9510 produce long-term capital AMERICA HSBC 2.24% Fixed to 30.06.25 10% £0 LV 0800 494 999 growth through holding a CREDIT CARDS GBP>USD Barclays 1.79% Fixed to 30.04.27 40% £999 LV 0333 202 7580 portfolio of UK stocks. INTRODUCTORY RATES TRACKERS */ DISCOUNTS What it invests in Provider Card type Introductory purchase APR 1 Reward Contact Lender Rate Scheme Deposit Fee Notes Contact More than 50% of the Sainsbury’s Bank Dual Offer Mastercard 0% for 27 months 20.9% Yes 0808 540 5060 HSBC 1.39% Tracker +0.64% for 2 years 40% £999 ELV 0800 494 999 fund is in industrial and Barclaycard Platinum All-rounder Visa 0% for 27 months 21.9% No 0800 731 0200 Nationwide 2.14% Tracker +1.39% for 2 years 10% £999 AELV 0800 302 010 services companies, 1.30 with smaller amounts in MBNA 0% Transfer and Purchase Mastercard 0% for 26 months 20.9% No 0345 606 2062 Newbury 1.99% 2.46% discount for 5 years 25% £850 LV 0163 555 5777 consumer and technology SWITZERLAND Coventry 1.95% Variable for term 35% £999 ELV 0800 121 8899 BALANCE TRANSFERS GBP>CHF stocks. The biggest FIRST-TIME BUYER / LOW DEPOSIT holdings are in Unite Provider Card type Introductory purchase Transfer fee 2 APR 1 Contact Lender Rate Scheme Deposit Fee Notes Contact Group, a developer of Sainsbury’s Bank Mastercard 0% for 29 months 2.74% (min £3) 19.9% 0808 540 5060 Yorkshire BS 2.77% Fixed to 31.05.22 5% £250 BV 0345 166 9510 student accommodation; MBNA Long 0% Mastercard 0% for 29 months 2.75% (no min) 20.9% 0345 606 2062 Johnson Service Group, a Monmouthshire 2.95% Fixed for 5 years 5% £0 PV 01633 844 351 Halifax Longest 0% Mastercard 0% for 29 months 3% (no min) 19.9% 0345 944 4555 supplier of workwear and 1.22 Barclays 1.74% Fixed to 30.04.25 25% £749 FPV 0333 202 7580 protective wear in the UK; CASHBACK CARDS BUY TO LET and JD Sports, the retailer. 1 Provider Card type APR Cashback Contact AUSTRALIA Lender Rate Scheme Deposit Fee Notes Contact American Express Platinum Cashback 28.2% 1%-1.25%. Intro 5% for 3 months 0800 917 8047 GBP>AUD Performance Loughborough 2.39% 2.95% discount for 2 years 20% £1,499 01509 613 950 The fund has produced a American Express Platinum Cashback Everyday 22.9% 0.5%-1%. Intro 5% for 3 months 0800 917 8047 Skipton 1.49% Fixed to 31.05.22 40% £995 LV 0345 850 1755 return of 7.7% in the past Santander All in One Mastercard 21.7% 0.5% 0800 389 9905 Virgin Money 2.04% Fixed to 01.07.25 25% £1,995 DR 0345 605 0500 12 months, placing it 33rd 1 APR = annual percentage rate, dependent on credit rating. 2 Fee charged on the amount of each balance transfer during the introductory period. Early repayment charge applies unless otherwise stated. * Most deals track Bank of England base rate. of the 220 funds in its Source: Moneyfacts.co.uk Notes: SVR = Standard variable rate; A = £500 cashback for first-time buyers; B = £500 cashback; C = £300 cashback for purchases; sector. Over five years it 1.96 D = £500 cashback for purchases; E = No early repayment charge; F = Help to Buy or shared-equity scheme; L = Free legal work for remortgages; P = Purchases only; R = Free valuation and legal work for remortgages; V = Free valuation. has returned 30.1%, Source: landc.co.uk — 0800 373 300 putting it 47th out of 200. The annual charge is 1.8%; the yield is a modest 0.4%. SAVINGS ACCOUNTS INSTANT ACCESS The manager’s view Co-manager Margaret Provider Account name Min deposit Interest rate Contact CASH ISAS Lawson said: “We look for Yorkshire BS 1 1 Year Limited-access Saver (Issue 4) £100 1.32% ybs.co.uk INSTANT ACCESS [young] best-in-class Cynergy Bank 2 Online Easy-access Account (Issue 27) £1 1.31% cynergybank.co.uk Provider Account name Min deposit Interest Transfers in Contact companies . that are Virgin Money 3 Double Take E-Saver (Issue 14) £1 1.31% uk.virginmoney.com Virgin Money 1 Double Take e-Isa (Issue 14) £1 1.31% Yes uk.virginmoney.com going to grow substantially because Leeds BS 2 Double Access Cash Isa £5,000 1.3% Yes leedsbuildingsociety.co.uk NOTICE ACCOUNTS they capture themes, FIXED RATE enjoy improving returns, Provider Account name Notice period Min deposit Interest rate Contact Provider Account name Term Min deposit Rate Transfers in Contact grow their top line and Shawbrook Bank 120-Day Notice (Issue 42) 120 days £1,000 1.55% shawbrook.co.uk OakNorth Bank Fixed-rate Cash Isa 1 year £1 1.41% Yes oaknorth.co.uk generate lots of cash. We Wyelands Bank 95-day Notice 95 days £5,000 1.47% wyelandsbank.co.uk aim to get under the skin OakNorth Bank Fixed-rate Cash Isa 2 years £1 1.51% Yes oaknorth.co.uk Bank and Clients 90-day Notice 90 days £1,000 1.45% bankandclients.com of companies we are 1 Maximum two easy-access withdrawals a year. 2 Maximum two penalty-free withdrawals a year, further withdrawals subject to 30 days loss of interest on amount withdrawn. thinking of buying.” FIXED-RATE BONDS Source: Savingschampion.co.uk — 0808 178 5354 Provider Account name Term Min deposit Interest rate Contact What the experts say Atom Bank Fixed Saver 1 year £50 1.6% atombank.co.uk Jason Hollands of Tilney, the wealth manager, said: Punjab National Bank Fixed Deposit Account 2 years £1,000 1.75% pnbint.com “The portfolio is very Punjab National Bank Fixed Deposit Account 3 years £1,000 1.85% pnbint.com different in composition 1 Withdrawals allowed on one day in each account year, based on anniversary of opening date. 2 Rate includes 0.56% bonus for first 12 months. 3 Maximum of two withdrawals a year. CHILDREN’S ACCOUNTS to a bog-standard UK DEALS ARE LISTED ONLY IF THEY ARE COVERED BY THE UK FINANCIAL SERVICES COMPENSATION SCHEME (FSCS) OR A EUROPEAN EQUIVALENT Provider Account name Account type Min deposit Interest rate Contact equity fund, with much Source: Savingschampion.co.uk — 0808 178 5354 Halifax Kids’ Monthly Saver Regular saver £10 4.5% halifax.co.uk higher exposure to Santander 1 123 Mini Current Account Current account £300 2.96% santander.co.uk smaller companies (23%) and mid-caps (33%) than Cambridge 3-year Fixed-rate Bond Fixed-rate bond £1,000 2% cambridgebs.co.uk the main UK indices. It has 1 Interest rates are tiered: 1% on balances of £100-£199; 1.98% on £200-£299; 2.96% on £300-£2,000. zero exposure to oil and JUNIOR ISAS gas stocks and nothing in ENERGY DEALS Supplier Average annual bill Rate Contact Provider Account name Min deposit Interest rate Rate Contact utilities either. Although Table shows the cheapest tariff from the 3three cheapest Gulf £808 Fixed 0800 830 3670 Coventry Junior Cash Isa (1) £1 3.6% Variable coventrybuildingsociety.co.uk volatile, the longer-term suppliers.Excludescheapest suppliers. fixed Excludes tariffs fixed of less tariffs than of 12 performance of this months’less than duration. 12 months’ Excludes duration, tariffs tariffs that that do not have Yorkshire Energy £835 Fixed 0113 451 0700 NS&I Junior Isa £1 3.25% Variable nsandi.com minnow is impressive.” nationaldo not have coverage.

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