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Compensation scheme to be promoted more heavily to savers

Compensation scheme to be promoted to saversBanks, building societies and credit unions will have to display signs telling customers their savings are protected by the Financial Services Compensation Scheme (FSCS), according to The Financial Services Authority (FSA), the financial regulator for the UK. The move from the FSA comes after research found consumer awareness of the FSCS was extremely poor, despite a national TV ad campaign which cost £4m. The signs will say "Your deposits are protected up to £85,000 by the Financial Services ...

5 tips for choosing the right deposit account for your SIPP

Choosing the right deposit account for your SIPP can be a tricky and time consuming task. We produce what we believe is the most comprehensive table of ‘sippable’ deposit accounts and we have a wealth of experience in this area. Having seen an increase in the number of enquiries recently for deposit accounts in SIPPs we thought we would put our experience and knowledge to good use with five tips for choosing the right deposit account for your SIPP. 1. Type of accounts As with personal accounts there are a range of deposit accounts for SIPPs available, offering options from instant access ...

8 tips to help make your savings work harder

In these times of low interest rates and rising inflation it has never been more important to get your savings working as hard as possible for you. We have put together eight simple tips to help your savings do just that. 1. Minimise tax Paying less tax will mean you get a better return from your savings, but not everyone’s savings are as tax efficient as they possibly can be. Start by using your Cash ISA allowance (£5,340 in the current tax year) the interest paid on a Cash ISA is not taxed, making them an attractive starting point for most savers. Next, think about ...