The Sunday Times January 14, 2018 15 MONEY Best Buys CURRENT ACCOUNTS FOREIGN MORTGAGES MONEY CREDIT INTEREST CURRENCY 2-YEAR FIXED RATES Provider Account name Account fee Interest rate 1 Balance Contact Lender Rate Scheme Deposit Fee Notes Contact MADE EASY These are the interbank TSB Classic Plus None 3% + £10 a month 2 £1-£1,500 0345 975 8758 Sainsbury’s 1.19% Fixed to 31.3.20 40% £745 LV 0345 111 8010 BRUSSELS BANS rates at 5pm on Friday, Reward None £3 a month £1+ 0345 720 3040 which show where the Nationwide 1.34% Fixed for 2 years 20% £999 GV 0800 302 010 CARD FEES Nationwide FlexDirect None 5% 3 £1-£2,500 0800 302 010 market is trading. 1.94% Fixed to 30.4.20 10% £999 LV 0333 202 7580 They are not indicative Customers will no longer OVERDRAFTS * 3-YEAR FIXED RATES of the rate you will be be charged a fee when Provider Account name Account fee Interest rate 4 0% overdraft limit Contact able to get. Lender Rate Scheme Deposit Fee Notes Contact paying for goods or 1st Account £10 a month 5 15.9% £250 0800 242 424 Nationwide 1.59% Fixed for 3 years 40% £999 GV 0800 302 010 services by debit or credit M&S Bank M&S Current Account None 15.9% £100 0345 900 0900 EURO HSBC 1.64% Fixed to 28.2.21 25% £999 LV 0800 494 999 card, after EU rules Post Office Money Standard Account None 14.9% £0 0345 266 8977 GBP>EUR Barclays 2.19% Fixed to 31.4.21 10% £999 LV 0333 202 7580 banning the practice came into force yesterday. 1 Based on funding of £1,000 a month. 2 To receive £10 you must have two direct debits and make 20 card payments a month. 3 Introductory rate for one year, then 1%. 4 Equivalent annual rate. 5 Fee waived if minimum funding of £1,000 is met. * Based on overdraft of £500 for 15 days a month. Some accounts require minimum funding to open or receive rates shown. LONG-TERM FIXED RATES However, companies Source: Moneyfacts.co.uk Lender Rate Scheme Deposit Fee Notes Contact can instead add booking Coventry 1.75% Fixed to 31.3.23 35% £999 LV 0800 121 8899 or admin fees to all forms of payment, raise prices HSBC 1.99% Fixed to 28.2.23 20% £999 LV 0800 494 999 1.13 or even refuse to accept AMERICA Principality 2.55% Fixed to 30.4.23 10% £0 LV 0800 678 1000 cards at all. CREDIT CARDS GBP>USD First Direct 2.69% Fixed for 10 years 25% £0 LV 0800 482 448 Last week the takeaway food app Just Eat replaced INTRODUCTORY RATES TRACKERS */ DISCOUNTS its 50p surcharge on debit Provider Card type Introductory purchase APR 1 Reward Contact Lender Rate Scheme Deposit Fee Notes Contact and credit card payments Sainsbury’s Bank Purchase Mastercard 0% for 31 months 18.9% Yes 0808 540 5060 HSBC 1.24% Tracker +0.74% for 2 years 40% £999 ELV 0800 494 999 with a 50p service charge Halifax 30-Month Purchase Mastercard 0% for 30 months 18.9% No 0345 944 4555 1.37 Leek United 2.02% SVR -3.42% for 2 years 10% £199 EV 0845 219 0250 on all orders. Sainsbury’s Bank Dual Offer Mastercard 0% for 30 months 18.9% Yes 0808 540 5060 Nationwide 1.94% Tracker +1.44% for 5 years 25% £999 EGV 0800 302 010 SWITZERLAND What has changed? GBP>CHF Hanley Economic 1.75% SVR -3.44% for term 25% £950 ELV 01782 255 000 BALANCE TRANSFERS Retailers, airlines, Provider Card type Introductory purchase Transfer fee 2 APR Contact FIRST-TIME BUYER / LOW DEPOSIT government departments Barclaycard Platinum 38-Month Visa 0% for 38 months 1.4% 19.9% 0800 731 0200 Lender Rate Scheme Deposit Fee Notes Contact and others used to levy a fee for paying with plastic, MBNA Platinum 38-Month Visa 0% for 38 months 1.44% 19.9% 0345 606 2062 Yorkshire BS 3.29% Fixed to 29.2.20 5% £995 DP 0345 166 9510 in some cases as much as Nuba Transfer Mastercard 0% for 38 months 2.49% 19.9% 0345 606 2062 1.33 Hanley Economic 3.1% SVR -2.09% for 2 years 5% £250 PV 01782 255 000 3%. This is now outlawed 3 £3 minimum. AUSTRALIA Barclays 2.69% Fixed to 30.4.21 0% £0 FP 0333 202 7580 across the EU. The ban CASHBACK CARDS includes PayPal, Apple Pay GBP>AUD BUY TO LET Provider Card type APR 1 Cashback Contact and other payment Lender Rate Scheme Deposit Fee Notes Contact methods linked to a card. American Express Platinum Cashback 28.2% 1%-1.25%. Intro 5% for 3 months (up to £125) 0800 917 8047 Virgin Money 1.79% Tracker +1.29% to 1.5.20 40% £995 D 0345 605 0500 American Express Platinum Cashback Everyday 22.9% 0.5%-1%. Intro 5% for 3 months (up to £100) 0800 917 8047 Barclays 1.84% Fixed to 30.4.20 25% £1,950 R 0333 202 7580 How are businesses and Santander World Elite Mastercard 49.8% 0.5% 0800 389 9905 Leeds 2.19% Fixed to 31.3.23 40% £1,999 LV 0345 045 4049 agencies responding? 1 APR = annual percentage rate, dependent on credit rating. 2 Fee charged on the amount of each balance transfer during the introductory period. 1.74 The Driver & Vehicle Source: Moneyfacts.co.uk Early repayment charge applies unless otherwise stated. * Most deals track Bank of England base rate. Notes: SVR = Standard variable rate; Source: timescurrencyservices.co.uk D = £500 cashback; E = No early repayment charge; F = Family Springboard, 10% deposit must be in a Barclays Helpful Start account; Licensing Agency has 020 7294 7970 G = £500 cashback for first-time buyers and remortgages; L = Free legal work for remortgages; P = Purchases only; R = Free valuation and legal work for remortgages; V = Free valuation. dropped its £2.50 fee for Source: landc.co.uk — 0800 373 300 credit cards, while Ryanair has scrapped its 2% fee. HM Revenue & Customs SAVINGS ACCOUNTS replaced its credit card INSTANT ACCESS charge of up to 0.6% with Provider Account name Min deposit Interest rate Contact a blanket ban on personal CASH ISAS credit cards; corporate AA 1 Easy Saver — Issue 6 £100 1.32% theaa.com INSTANT ACCESS cards are still accepted. Post Office Money 2 Online Saver Issue 28 £1 1.3% postoffice.co.uk Provider Account name Min deposit Interest Transfers in Contact “Some merchants may RCI Bank Freedom Savings £100 1.3% rcibank.co.uk increase their prices Paragon Bank Limited Edition (Issue 3) £1 1.16% Yes paragonbank.co.uk 1 Rate includes 1.12% bonus for first 12 months. 2 Rate includes 1.05% bonus for first 12 months. or refuse to take card Leeds Limited Issue Online (Issue 4) £1,000 1.16% Yes leedsbuildingsociety.co.uk NOTICE ACCOUNTS payments to compensate for the lost revenue but, Provider Account name Notice period Min deposit Interest rate Contact FIXED RATE overall, customers will 1 180-day notice 180 days £1,000 1.65% securetrustbank.com Provider Account name Term Min deposit Rate Transfers in Contact benefit,” said Stephen Secure Trust Bank 1 120-day notice 120 days £1,000 1.55% securetrustbank.com Post Office Money 1-Year Fixed Rate Issue 11 1 year £500 1.45% Yes postoffice.co.uk Ley, UK head of payments Bank and Clients 90-day notice 90 days £1,000 1.45% bankandclients.com at the accountancy firm West Brom BS Fixed Rate Isa 2 years £1,000 1.65% Yes westbrom.co.uk 1 Maximum three capital withdrawals a year subject to required notice. Deloitte. Source: Savingschampion.co.uk — 0808 178 5354 FIXED-RATE BONDS What happens Provider Account name Term Min deposit Interest rate Contact after Brexit? 1 Fixed Saver 1 year £50 1.8% atombank.co.uk The EU regulations have The Access Bank UK Fixed Rate Bond 2 years £5,000 2.05% sensiblesavings.co.uk already been written into The Access Bank UK Fixed Rate Bond 3 years £5,000 2.25% sensiblesavings.co.uk CHILDREN’S ACCOUNTS UK law, so the ban will 1 Atom Bank accounts are available only via an app, which can be downloaded from the Apple App Store or Google Play Store. continue. 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 Halifax Kids’ Regular Saver Regular Saver £10-£100 4.5% halifax.co.uk Top tip If you spot a company Santander 1 123 Mini Current Account Current Account £300 1%-2.96% santander.co.uk charging a fee for paying Cambridge 3-year Fixed Rate Bond (Issue 1) Fixed Rate Bond £1,000 2% cambridgebs.co.uk by card, report it to 1 Interest rates are tiered: 1% on balances of £100-£199; 1.98% on £200-£299; 2.96% on £300-£2,000. Trading Standards JUNIOR ISAS (tradingstandards.uk/ ENERGY DEALS Supplier Average annual bill Rate Contact Provider Account name Min deposit Interest rate Rate Contact consumers or 0345 404 0506). You can claim a Table shows the cheapest tariff from the 3 cheapest Tonik £842 F 0333 344 2686 Coventry Junior Cash Isa £1 3.5% V coventrybuildingsociety.co.uk suppliers.Excludessuppliers. Excludes fixed fixed tariffs tariffs of of less less than than 12 12 refund or take legal action months’ duration. Excludes tariffs that do not have Bulb £855 V 0300 303 0635 Nationwide Smart Junior Isa £1 3.25% V nationwide.co.uk to recover charges. national coverage. Excludes tariffs where payments People’s Energy £868 V 0131 285 5510 are taken in advance of the customer coming on Junior Cash Isa £1 3.15% V tescobank.com Ruth Emery supply. F=Fixed rates V=Variable rates Source: TheEnergyShop.com — 01259 220 270 V = variable rate. Source: Savingschampion.co.uk — 0808 178 5354 ICONS BY JAMIE JONES JAMIE BY ICONS

I use my banking app at least I too have experienced the darling. Not until I’ve filed my once each weekday and use shameful behaviour of energy tax return . . .”, last week). other apps for credit card companies. I am in dispute The self-assessment and savings accounts. with my new LPG [liquefied website is clunky and sloppily However, I would not be petroleum gas] supplier. The written. It also required happy sharing data between firm was keen to get my several bits of ID. I didn’t HAVE accounts. I have already business when my contract expect to need a passport had trouble with my main was up for renewal last April. and driving licence in my credit card, with the bank It was a two-year contract — hands when I sat down to YOUR SAY having to contact me to the price was fixed for the fill in the blasted form. verify a transaction that first 12 months and in the HM Revenue & Customs would have taken me over second year the increase was obviously doesn’t have the EDITED BY my credit limit. capped at 3p a litre. bandwidth to cope with the MONEY’S RUTH EMERY I had no knowledge of the However, last month I numbers trying to complete transaction so had to cut up received a letter informing forms on the last Saturday GOLD my card and wait for a me of a price rise effective of the year — mine crashed MEDALLIST Open to fraud replacement. Then a Netflix immediately of 4p. I queried several times and I had to subscription appeared on this, but was told the contract log back in. When it wasn’t If you have a story to There is no way I would agree my account that I had not did not mean anything and a crashing, saving the page tell, email money@ to my details being freely initiated. I had to ring the “surcharge” price had to be was very slow. sunday times.co.uk circulated to other banks — as bank twice and Netflix once imposed on a temporary What should have been a proposed under “open to stop further charges after a basis. We are in discussion 15-minute task took almost Money’s Gold Medallist is to meet them and one to banking” (“Fraud fears over second transaction appeared with the supplier, but so far three hours — all to prove the your chance to tell us about bring the car around so my ‘open banking’ revolution”, the following month, despite to no avail. My concern is Revenue owed me £5.21. the businesses — from banks husband would have the last week). I use my current a stop supposedly having they might refuse to supply RD, Old Windsor, Berkshire and department stores to least time and distance to account banking app to been applied. ‘Open banking’, which came into force yesterday, allows gas through the winter. energy suppliers and travel walk,” she said. transfer funds between my I read the Money pages in consumers to share account details with budgeting apps MW, Kirklinton, Cumbria In November I registered for companies — that have The company said the accounts, but I only do this The Sunday Times and am a online self-assessment. Once I treated you well. drivers would not only take on my secure wi-fi in my member of Which? so feel security (“You can try ‘open and saw pop-ups on my iPad I am very disturbed by my had my user ID, it was simple. This week’s winner is her husband to the entrance own property. I also prefer well-informed. I can hunt banking’, but my account is saying I could save money energy supplier. The monthly If you made a mistake, you Maine Exotics, a chauffeur of St Andrew’s, but would to enter my Pin than to wave for the best banking and for my eyes only”, last week). by switching energy firms payments increased from could amend at any time — service in Birmingham. It also help him to reach his my bank card at a contactless savings deals myself. If it goes wrong it will (“I have never seen such £130 to £260 as my meter and many of the pages did not was nominated by Karen seat in the stadium. terminal. I know this takes NB, Crawley, West Sussex invariably be our fault. appalling service”, last week). readings were ignored and a apply to me. Total time? Lockley, who lives in York. “They charged no extra longer, but reporting funds We are regularly So I contacted a small energy £300 credit turned into an Thirty minutes. Simple. She told us: “My husband for all this, which was missing from my account The government and bombarded with “Changes provider to transfer to them. £800 debit overnight. I had MS, Chigwell, Essex was a Birmingham City very kind,” said Lockley, and getting new cards also Competition and Markets to terms and conditions” However, we did not to send a photograph of my supporter and when he was who paid up front. take time. Authority have got this correspondence about our receive the paperwork and meter and I even had the diagnosed with terminal Sadly, her husband died PR, Shrewsbury, Shropshire wrong: there is no such thing accounts and credit cards. when I tried to phone I had pressure checked to make We love to receive your lung cancer, he wanted to before he could attend as 100% security. Financial These are presumably a great difficulty getting a sure I did not have a leak. feedback on stories and see them play at home with the match. Open banking is the most fraud is on the increase. From legal “tick box” exercise in response. We did not want After selling my house I your views on any issues his son one last time.” Lockley let Maine Exotics stupid and potentially what I have read, open informing the consumer. to proceed with the switch, tried to close the account. I you would like us to After booking tickets know that she needed to dangerous financial banking will leave the door I suspect 99.9% of these but then we got a letter from supplied final meter readings investigate. Always for a match at St Andrew’s cancel and, again, was development I have ever open to even more fraud. communications go straight British Gas, our previous but they were lost. I then include your name and stadium, as well as a hotel pleasantly surprised by heard of. The old and the Last week you also in the bin. However, I supplier, saying our gas had received two “final” account address when contacting room, she wanted to ensure its response. vulnerable have enough to reported on customers being recently read one indicating been transferred to the new totals — I paid the first one, us. Letters may be edited. her husband could get to “Not only did they refund contend with — and now this. erroneously transferred to a that if I authorised a third firm. How do they do this but have received another the game easily. my money immediately, I can hear the scam factories power company — if it can party to see my bank details, without meter readings? bill for £148. “I knew he wouldn’t be which I did not expect, tooling up already. What on happen in the energy sector, the bank could not be held Then we received a letter Am I being robbed or are WRITE TO able to walk far so thought they also sent flowers and earth possesses anyone to it can happen in the finance responsible for things such from the new supplier saying they incompetent? Money, The Sunday Times a car to the stadium would a card to me, which I was think this is a good idea? industry. What are the as transfers going wrong. we could not move our MH, Bideford, North Devon 1 London Bridge Street make it special as well as extremely touched by,” A lot of unfortunate safeguards? I don’t think the There is going to be a lot of electricity as we were in debt. London SE1 9GF practical,” said Lockley. she said. individuals are going to be government is even looking trouble with this. We have never been in debt. She contacted Maine The experience has made fleeced of their savings and — ministers are too busy TN, Angmering, West Sussex It took a lot of phone calls and Taxing task Exotics and explained the Lockley feel that “kind endure misery as a result, fighting among themselves. letters to say we did not want EMAIL situation. “They couldn’t people do still exist in the with the banks saying it’s PF, Orpington, to be with the new supplier, Like Ruth Emery, I was one of [email protected] have been more helpful. world”. She would like to not their fault. And then the southeast London Waste of energy but finally it was settled. We the sad individuals trying to They agreed to pick up my thank the company and authorities will try to put the are both in our eighties and fill in their self-assessment husband and his son at the would recommend it genie back in the bottle. I couldn’t agree more with Last year I heard really do not need this hassle. form before the end of the TWITTER hotel with two drivers, one wholeheartedly. SC, by email Peter Conradi’s column on advertisements on the radio EH, Ramsbury, Wiltshire year (“No champagne for me, @ST_Money