The Best Savings Account May Not Require Internet Access

UK Banks apparently were saving the best deals for internet only bank customers and ignoring those most likely to save: pensioners who may not want or be able to access internet banking accounts.

Their pleas have been heard...
From ThisIsMoney.co.uk

Pensioners can earn more than 5.8% before tax from next week on their saving in the High Street and still have easy access to their money.

Nationwide will increase the rate on its Monthly Income 60+ account to 4.57% after 20% savings tax (5.71% before tax) from August 1. Interest is paid out each month, giving an annual equivalent rate of 4.49% (5.86%).

Skipton's rate goes up to 4.68% (5.85%) on July 31, a rise of 0.5% following the 0.25% rise in base rate to 5.75% earlier this month.

Money Mail campaigned for better deals in the High Street for pensioners. Banks and building societies kept their top rates for internet customers, ignoring the need of those pensioners who wanted a branch-based account with a passbook.

Within weeks Nationwide, the largest building society, launched its Monthly Income 60+, joining the ranks of building societies offering special accounts.

Best Savings Accounts Protect From Overdrafts

As noted before, the best savings account for you may be the one that let's you have overdraft protection.

One reader contacted us to say that after following up with her bank, she could do the following:

1. Pay $35 per overdrawn check OR
2. Pay $10 for a transfer from her savings account in the event of an over draft

She noted that the bank requires a that transfers be in $100 increments. A $1 overdraft requires a $100 transfer. That still saves $25 after the $10 transfer fee.

The sad thing is that this service could be offered automatically and promoted better by the banks. This customer had to inquire.

As do you!

So check out your savings account options now to see if you can save money by savings account transfers in the event of an overdraft. That may be your best strategy for saving money in the event you're over drawn.

Huntington's High Interest Online Savings Account Offers A 5.20% Annual Percentage Yield* - Best Savings Account News

From a Press Release

Huntington's High Interest Online Savings Account Offers A 5.20% Annual Percentage Yield*

In addition to a highly competitive APY, the high yield online savings account features:

* $1,000 minimum opening balance
* ATM Card
* No minimum balance fees when your balance is $1,000 or more

*Annual Percentage Yield (APY) is accurate as of the date of publication. Rates may change after account is opened. Fees may reduce earnings. The regular interest rate on balances of $0-$999,999.99 is 5.10% (5.20%APY); and the regular rate on balances of $1,000,000 and up is 3.94% (4.00%APY). Member FDIC.

Note: We're just running this as a press release. Best Savings Account News is a media outlet and not directly affiliated with this savings institution. Advertisements and affiliate links appearing on this site should not be considered an endorsement. Please do your own due diligence as discussed in our terms of service.