The Sunday Times March 24, 2019 17

12 MONEY 14 PUZZLES HAVE MOVED NEWS, PAGE 38 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 1.59% Fixed for 2 years 40% £490 LV 0800 482 448 rates at 5pm on Friday, TSB Classic Plus None 5% £1-£1,500 0345 975 8758 which show where the Post Office 1.81% Fixed to 31.05.21 15% £495 LV 0800 077 8033 Nationwide FlexDirect None 5% 2 £0.01-£2,500 0800 302 010 market is trading. 1.78% Fixed to 30.04.21 10% £999 LV 0333 202 7580 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 £10 a month 4 15.9% £250 0800 242 424 HSBC 1.69% Fixed to 31.07.22 40% £999 LV 0800 494 999 M&S Bank Current Account None 15.9% £100 0345 900 0900 EURO Coventry 1.89% Fixed to 30.06.22 15% £999 LV 0800 121 8899 Starling Current Account None 15% £0 starlingbank.com GBP>EUR Barclays 2.09% Fixed to 30.04.22 10% £999 LV 0333 202 7580 FUND 1 Based on funding of £1,000 a month. 2 Introductory rate for one year, then 1%. 3 Equivalent annual rate. 4 Fee waived if minimum funding of £1,000 is met. * Based on overdraft of £500 for 15 days a month. LONG-TERM FIXED RATES FOCUS Some accounts require minimum funding/direct debits to open or receive rates shown. Lender Rate Scheme Deposit Fee Notes Contact Source: Moneyfacts.co.uk JUPITER ASIAN HSBC 1.84% Fixed to 31.07.24 40% £999 LV 0800 494 999 INCOME FUND 1.17 M&S 2.04% Fixed to 30.04.24 15% £1,094 LV 0800 923 1536 Barclays 2.29% Fixed to 30.04.24 10% £999 LV 0333 202 7580 AMERICA What it does CREDIT CARDS GBP>USD Coventry 2.35% Fixed to 30.06.29 35% £999 LV 0800 121 8899 Invests in companies across Asia, Australia and INTRODUCTORY RATES TRACKERS */ DISCOUNTS New Zealand, with the aim 1 Lender Rate Scheme Deposit Fee Notes Contact Provider Card type Introductory purchase APR Reward Contact of delivering growth and MBNA 0% Transfer & Purchase Mastercard 0% for 28 months 19.9% No 0345 606 2062 Skipton 1.59% Tracker +0.84% for 2 years 40% £0 LV 0345 850 1755 income for investors. Virgin Money 28-month Purchase Mastercard 0% for 28 months 19.9% No 0800 389 2875 Leek United 2.09% SVR -3.6% for 2 years 10% £199 EV 0800 783 3534 Manager Jason Pidcock 1.32 Nationwide 2.14% Tracker +1.39% for 5 years 40% £999 AELV 0800 302 010 gained a strong reputation Sainsbury’s Bank Dual Offer Mastercard 0% for 28 months 20.9% Yes 0808 540 5060 SWITZERLAND Hanley Economic 1.99% SVR -3.45% for term 40% £999 ELV 01782 255 000 at the fund house Newton, BALANCE TRANSFERS GBP>CHF where he ran an Asian FIRST-TIME BUYER / LOW DEPOSIT income fund for almost a Provider Card type Introductory purchase Transfer fee 2 APR Contact Lender Rate Scheme Deposit Fee Notes Contact decade. He moved to Barclaycard Platinum 29-month Visa 0% for 29 months 1.99% (no min) 19.9% 0800 731 0200 Newcastle 2.54% Base +1.79% to 31.07.21 5% £0 E 0345 606 4488 Jupiter three years ago Sainsbury’s Bank Platinum 29-month Mastercard 0% for 29 months 3% (min £3) 19.9% 0808 540 5060 Virgin Money 2.99% Fixed to 01.07.21 5% £0 BR 0345 605 0500 to launch this product. M&S Bank Transfer Plus Mastercard 0% for 28 months 0.99% (min £5) 19.9% 0800 997 996 1.31 Barclays 2.02% Fixed to 30.04.24 25% £749 FPV 0333 202 7580 What it invests in CASHBACK CARDS BUY TO LET Stocks across Hong Kong, Provider Card type APR 1 Cashback Contact AUSTRALIA Lender Rate Scheme Deposit Fee Notes Contact Australia and Singapore, American Express Platinum Cashback 28.2% 1%-1.25%. Intro 5% for 3 months 0800 917 8047 GBP>AUD among other countries. Leeds 1.46% Tracker +0.71% to 30.06.21 40% £999 LV 0345 045 4049 The fund focuses on American Express Platinum Cashback Everyday 22.9% 0.5%-1%. Intro 5% for 3 months 0800 917 8047 Ipswich 3.15% Fixed to 31.03.21 20% £1,149 R 0330 123 0773 dividend-paying firms and Santander All in One Mastercard 21.7% 0.5% 0800 389 9905 Post Office 2.55% Fixed to 31.05.24 25% £995 LV 0800 077 8033 its top holdings include 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. the casino group Sands Source: Moneyfacts.co.uk Notes: SVR = Standard variable rate; A = £500 cashback for first-time buyers; = £300 cashback for purchases; E = No early repayment charge; China, the investment 1.86 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. bank Macquarie and the Source: landc.co.uk — 0800 373 300 Korean electronics company Samsung.

SAVINGS ACCOUNTS Performance INSTANT ACCESS Over three years this fund has returned 43.4%, Provider Account name Min deposit Interest rate Contact CASH ISAS compared with a sector Online Only Easy Access (Issue 33) £1,000 1.5% kentreliance.co.uk INSTANT ACCESS average of 48.6%. New 1 Virgin Money Double Take E-Saver 10 £1 1.5% uk.virginmoney.com Provider Account name Min deposit Interest Transfers in Contact funds can take a while 2 to get going, however. Marcus Online Savings £1 1.49% marcus.co.uk Yorkshire BS 1 Single Access Saver Isa (Issue 5) £100 1.46% Yes ybs.co.uk It yields 3.9% and the Paragon Limited edition Isa (Issue 5) £1 1.45% Yes paragonbank.co.uk NOTICE ACCOUNTS ongoing charge is 0.98%. 1 Access allowed on only one day a year. Provider Account name Notice period Min deposit Interest rate Contact FIXED RATE What the manager says Charter Savings Bank 95-day Notice (Issue 22) 95 days £5,000 1.9% chartersavingsbank.co.uk Provider Account name Term Min deposit Rate Transfers in Contact Pidcock said: “Asian 3 90-day Notice 90 days £1,000 1.81% securetrustbank.com equity markets are among Shawbrook Bank Cash Isa Bond (Issue 30) 1 year £1,000 1.77% Yes shawbrook.co.uk Charter Savings Bank 60-day Notice (Issue 9) 60 days £5,000 1.61% chartersavingsbank.co.uk the most exciting — there Charter Savings Bank Cash Isa 2 years £5,000 1.95% Yes chartersavingsbank.co.uk are many large, liquid FIXED-RATE BONDS Source: Savingschampion.co.uk — 0808 178 5354 market-leading Provider Account name Term Min deposit Interest rate Contact companies that have Shawbrook Bank Fixed-rate Bond (Issue 58) 1 year £1,000 1.97% shawbrook.co.uk room to grow. I aim to blend holdings that pay Axis Bank UK Fixed Deposit Account 2 years £1,000 2.26% axisbankuk.co.uk high dividends with those Fixed-rate Account 3 years £1,000 2.4% aldermore.co.uk that have a lower yield but 1 Maximum of two easy access withdrawals a year. 2 Rate includes 0.15% bonus for first 12 months. 3 Maximum three capital withdrawals a year. CHILDREN’S ACCOUNTS higher growth.” 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 Source: Savingschampion.co.uk — 0808 178 5354 Kids’ Monthly Saver Regular saver £10 4.5% halifax.co.uk What the experts say Rob Morgan at Charles Santander 1 123 Mini Current Account Current account £300 2.96% santander.co.uk Stanley Direct said: Cambridge 3-year Fixed-rate Bond Fixed-rate bond £1,000 2% cambridgebs.co.uk “Jason Pidcock has a 1 Interest rates are tiered: 1% on balances of £100-£199; 1.98% on £200-£299; 2.96% on £300-£2,000. highly selective and JUNIOR ISAS pragmatic approach ENERGY DEALS Supplier Average annual bill Rate Contact Provider Account name Min deposit Interest rate Rate Contact with a focus on stable companies, which could Table shows the cheapest tariff from the 3 cheapest Utility Point £930 V 0345 557 7878 Coventry Junior Cash Isa (1) £1 3.6% V coventrybuildingsociety.co.uk suppliers.Excludessuppliers. Excludes fixed fixed tariffs tariffs of of less less than than 12 12 help provide protection months’ duration. Excludes tariffs that do not have First:Utility £970 F 0192 632 0700 NS&I Junior Isa £1 3.25% V nsandi.com when markets fall.” national coverage. Excludes tariffs where payments iSupply Energy £977 F 0330 202 0298 are taken in advance of the customer coming on TSB Junior Cash Isa £1 3.25% V tsb.co.uk Holly Black supply. F=FixedV=Variable rates rate V=Variable rates Source: TheEnergyShop.com — 01259 220 270 V = variable rate. Source: Savingschampion.co.uk — 0808 178 5354 ICONS BY JAMIE JONES

Bank scammers use fake ID to steal £29m

Ali Hussain open or take over an account have increased by 119% to Banks are failing to spot 63,793, according to data fake documents that allow published by UK Finance, an criminals to open accounts industry body. in someone else’s name. Banks say third parties Losses from so-called have to protect customer application fraud jumped data better. Katy Worobec, to £29.4m last year, up 159% managing director of on 2017, according to data economic crime at UK published last week. Finance, said: “Every Banks are obliged to business, from online know the identity of their retailers to social media customers under anti-money- companies, and the public laundering rules. They are sector, has a duty to work breaking the law if they allow together to beat fraud and someone to open an account prevent stolen data getting with fake documents. into the hands of criminals.” Last year Money Martyn James of the highlighted the case of Agi dispute resolution service Gamski, who lost £74,000 Resolver said: “Our users are after a criminal was able to becoming increasingly open an account with Metro concerned by the failure to bank using what police said investigate how fraudsters was a fake passport and a were able to access their bogus student visa. Gamski private details and accounts.” was tricked into transferring Conmen stole £1.2bn from funds to the conman’s bank accounts last year. account, instead of to one of About £845m of this was her business suppliers. down to unauthorised fraud, The bank refused to refund in which scammers hacked the loss, insisting its systems into online banking or used a were robust enough to spot stolen card. Losses from such fake documents and blaming frauds are up 16% in a year. Gamski for transferring the The other £354m was money. She is taking legal down to authorised scams, action against Metro. in which the victim is tricked Cases where criminals into transferring funds to a fraudulently obtain card criminal, believing they are details, along with stolen following instructions from personal information, to their bank or the police. These losses are up 50% from the year before. On May 28, a voluntary code comes into effect that will reimburse victims of authorised scams. However, the payments will be made only if the bank is at fault and the customer has met the Agi Gamski lost £74,000 but standards expected of them Metro has refused to repay it under the code.