14 The Sunday Times March 15, 2020 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 1.21% Fixed to 30.04.22 40% £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 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 Starling Current Account None 15% £0 starlingbank.com HSBC 1.34% Fixed to 30.06.23 40% £999 LV 0800 494 999 1st Account None 39.9% £250 0345 600 2424 EURO Coventry 1.79% Fixed to 30.06.23 15% £999 LV 0800 121 8899 M&S Bank Current Account None 39.9% £250 0800 756 7777 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 INVESTEC UK Some accounts require minimum funding/direct debits to open or receive rates shown. Source: Moneyfacts.co.uk Lender Rate Scheme Deposit Fee Notes Contact EQUITY INCOME TSB 1.44% Fixed to 31.05.25 40% £995 RS 0800 056 1088 What it is 1.11 Yorkshire BS 1.9% Fixed to 31.05.25 15% £495 V 0345 166 9510 This £117m fund invests in AMERICA HSBC 2.19% Fixed to 30.06.25 10% £999 LV 0800 494 999 UK companies. Its aim is CREDIT CARDS GBP>USD Leeds 2.08% Fixed to 31.07.30 35% £999 LV 0345 045 4049 to generate a decent level of income combined with INTRODUCTORY RATES TRACKERS */ DISCOUNTS some capital growth. Provider Card type Introductory purchase APR 1 Reward Contact Lender Rate Scheme Deposit Fee Notes Contact Sainsbury’s Bank Dual Offer Mastercard 0% for 27 months 20.9% Yes 0808 540 5060 HSBC 0.89% Tracker +0.64% for 2 years 40% £999 ELV 0800 494 999 What it invests in Barclaycard Platinum All-rounder Visa 0% for 27 months 21.9% No 0800 731 0200 HSBC 1.59% Tracker +1.34% for 2 years 10% £999 ELV 0800 494 999 The fund focuses heavily 1.23 on consumer products MBNA 0% Transfer and Purchase Mastercard 0% for 26 months 20.9% No 0345 606 2062 Newbury 1.89% 2.56% discount for 5 years 25% £850 LV 0163 555 5777 (30% of the portfolio), SWITZERLAND Coventry 1.95% Variable for term 35% £999 ELV 0800 121 8899 BALANCE TRANSFERS GBP>CHF services (19%) and FIRST-TIME BUYER / LOW DEPOSIT financials (15%). It is Provider Card type Introductory purchase Transfer fee 2 APR 1 Contact Lender Rate Scheme Deposit Fee Notes Contact mostly invested in the UK, 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 with a small amount in MBNA Long 0% Mastercard 0% for 29 months 2.75% (no min) 20.9% 0345 606 2062 cash. Top holdings are 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 Unilever, publisher Relx 1.18 Barclays 1.74% Fixed to 30.04.25 25% £749 FPV 0333 202 7580 and Reckitt Benckiser, the CASHBACK CARDS BUY TO LET consumer goods giant. 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 Barclays 0.99% Tracker +0.74% for 2 years 40% £1,795 R 0333 202 7580 The fund has lost 10.9% American Express Platinum Cashback Everyday 22.9% 0.5%-1%. Intro 5% for 3 months 0800 917 8047 Leeds 3.25% Fixed to 31.05.22 20% £999 LV 0345 045 4049 over one year, putting it 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 62nd of the 269 funds in 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. its sector. Over five years Source: Moneyfacts.co.uk Notes: SVR = Standard variable rate; = £500 cashback; C = £300 cashback for purchases; D = £500 cashback for purchases; it is 55th out of 239 with a 2.01 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; S = Remortgage only; V = Free valuation. return of 11,1%. The yield is Source: landc.co.uk — 0800 373 300 2.6% and the annual charge is 0.82%.

SAVINGS ACCOUNTS The manager’s view INSTANT ACCESS Ben Needham said: “We are wary of income Provider Account name Min deposit Interest rate Contact CASH ISAS strategies that are Cynergy Bank 1 Online Easy-access (Issue 27) £1 1.31% cynergybank.co.uk INSTANT ACCESS focused on high starting Virgin Money 2 Double Take E-Saver (Issue 14) £1 1.31% uk.virginmoney.com Provider Account name Min deposit Interest Transfers in Contact yields. We look for Marcus Online £1 1.3% marcus.co.uk Virgin Money 1 Double Take e-Isa (Issue 14) £1 1.31% Yes uk.virginmoney.com sustainable dividend growth and attractive Cynergy Bank Online Isa (Issue 2) £1 1.29% Yes cynergybank.co.uk NOTICE ACCOUNTS long-term returns. We FIXED RATE believe the stocks that are Provider Account name Notice period Min deposit Interest rate Contact Provider Account name Term Min deposit Rate Transfers in Contact most likely to achieve this 120-day Notice (Issue 42) 120 days £1,000 1.55% shawbrook.co.uk Ford Money Cash Isa 1 year £500 1.37% Yes fordmoney.co.uk are ones that are high- Wyelands Bank 95-day Notice 95 days £5,000 1.47% wyelandsbank.co.uk quality, cash-generative Hampshire Trust Bank Isa Bond (Issue 8) 2 years £1 1.46% Yes htb.co.uk Bank and Clients 90-day Notice 90 days £1,000 1.45% bankandclients.com and capital-light, with 1 Maximum two easy-access withdrawals a year. sustainably high or FIXED-RATE BONDS Source: Savingschampion.co.uk — 0808 178 5354 improving profitability.” Provider Account name Term Min deposit Interest rate Contact SmartSave Fixed Saver 1 year £10,000 1.56% smartsavebank.co.uk What the experts say Darius McDermott of RCI Bank Fixed-term Savings 2 years £1,000 1.65% rcibank.co.uk FundCalibre, the fund Investec Fixed-term Deposit 3 years £25,000 1.8% investec.com research website, said: 1 Rate includes 0.56% bonus for first 12 months. 2 Maximum of two withdrawals a year. CHILDREN’S ACCOUNTS “The managers want 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 businesses with a ‘moat’ — Source: Savingschampion.co.uk — 0808 178 5354 Halifax Kids’ Monthly Saver Regular saver £10 4.5% halifax.co.uk strong economic barriers Santander 1 123 Mini Current Account Current account £300 2.96% santander.co.uk to entry — so the portfolio is full of quality income Cambridge 3-year Fixed-rate Bond Fixed-rate bond £1,000 2% cambridgebs.co.uk names such as Unilever 1 Interest rates are tiered: 1% on balances of £100-£199; 1.98% on £200-£299; 2.96% on £300-£2,000. and Diageo. This is a small JUNIOR ISAS fund, so it will be nimbler ENERGY DEALS Supplier Average annual bill Rate Contact Provider Account name Min deposit Interest rate Rate Contact than many of its rivals. It Table shows the cheapest tariff from the 3three cheapest Gulf £818 Fixed 0800 830 3670 Coventry Junior Cash Isa (1) £1 3.6% Variable coventrybuildingsociety.co.uk has held up better than suppliers.Excludescheapest suppliers. fixed Excludes tariffs fixed of less tariffs than of 12 the stock market so it’s months’less than duration. 12 months’ Excludes duration, tariffs tariffs that that do not have Yorkshire Energy £820 Fixed 0113 451 0700 NS&I Junior Isa £1 3.25% Variable nsandi.com one to keep an eye on.” nationaldo not have coverage. national Excludes coverage tariffs and tariffswhere payments Scottish Power £838 Fixed 0800 027 0072 arewhere taken payments in advance are takenof the in customer advance coming of the on TSB Junior Cash Isa £1 3.25% Variable tsb.co.uk Mark Atherton supply.customer F=Fixed coming rates on supply.V=Variable rates Source: TheEnergyShop.com — 01259 220 270 Source: Savingschampion.co.uk — 0808 178 5354 ICONS BY JAMIE JONES

Kenza Bryan one-time passcodes to current account they have landline phones. But customers’ mobile phones. with Nationwide. Santander, which has 14.4m A couple who live on the These codes have to be input Following all three customers, sends codes only Poor phone southern tip of the British via internet banking to incidents, the couple’s joint via text or a smartphone app. mainland have had to change authorise transactions. Santander current account, Last year, Money reported bank because they kept being However, customers living which they first opened in on a 70-year-old reader from locked out of their account in parts of the country with a 2013, was blocked for days. Gloucester who had to wave signal locks after Santander refused to poor phone signal complain Tim said: “In the name of his mobile in the air at the send their security codes by that they have, in effect, been security, Santander’s system bottom of his garden to email or over a landline blocked from online seems designed to provide receive one-time passcodes. instead of by text message. shopping or setting up new appalling customer service. Some remote areas may Barbara Eaton, 79, a payees because the text We just don’t do any online have to wait until 2025 for a couple out historical biographer, and her messages do not get transactions unless we are reliable mobile phone signal, husband Tim, 80, a retired through to them in time. away from home.” the Treasury said last week, architect, live at Lizard Point Barbara and Tim share a An EU directive required after it committed £1bn to in Cornwall. mobile phone for use when Santander would not call the Eatons on their landline banks to introduce one-time extending rural coverage. of account Long-time customers of travelling, but they cannot get passcodes for online Santander said it would Santander, they had been a signal at home. Despite this, them a one-time code by text was also blocked. transactions from last start allowing one-time using internet banking the bank refused to let them to authorise the transaction, Tim was asked to visit his September. However, there passcodes to be received by without problems, but use another method for but they never received it. nearest Santander branch — was no ruling as to how the email this month, and would difficulties arose when the verifying payments. The following month, the 20 miles away — to complete codes should be sent. extend the service to all bank responded to EU rules Last August, the couple’s same thing happened with a the payment. To avoid losing Customers of HSBC and customers by the summer. requiring extra fraud £7,480 booking for a trip to £558 reservation with a hotel the flights, which were being Barclays can generate codes The move comes too late protection. India was declined by in London. In February, a held for him by a travel using card readers provided for the Eatons, though. They As an extra layer of Santander for security £9,000 booking for business- company, he had to transfer by the banks, while Lloyds have shut their account and security, the bank texts reasons. The bank had sent class flights to New Zealand funds from a cash Isa to a will read out codes over are using Nationwide instead.