Savings: Revealed, the mistake nearly 50% of savers make with their cash

Revealed, the mistake nearly 50% of savers are making with their cashA new survey has found that almost 50% of people hold their savings in deposit accounts, preferring the security of a bank or building society to investing. With interest rates still at an all-time low, and well below the rate of inflation, holding so much capital in deposit accounts could be a costly mistake for many savers. The survey of 2,000 people, conducted by True Potential found that: Only 11% of people invest their spare capital in stocks and shares More men, 14%, ...

SIPPs: Where now for SIPP deposit accounts?

Crumpled question marks heapPeople using deposit accounts in their Self-Invested Personal Pension (SIPP) have had it tough for a number of years. Interest rates, which were already at record low levels following the financial crisis, fell even further when the Funding for Lending scheme was introduced, some banks and building societies have withdrawn their accounts and for much of the last few years inflation has been higher than interest rates. But SIPP deposit account savers are nothing if not a patient bunch. In our ...

In the spotlight: Richard Dunn from Metro Bank

Metro BankWe recently caught up with Richard Dunn, Partnership Director at Metro Bank; the latest and very welcome addition to our best buy table for SIPP (Self-Invested Personal Pensions) and SSAS (Small-Self Administered Schemes) deposit accounts. Investment Sense: Richard, Metro Bank is relatively new to the UK, perhaps you could start by explaining a little more about the bank and its history.   Richard Dunn (right): Of course....

SIPPs: SIPP providers, interest rates and cash accounts – the debate continues

HiResSIPPs (Self-Invested Personal Pensions) are big business in the UK with more than one million in existence. Investors would be forgiven for thinking that SIPP providers make the majority of their income from the fees paid by investors. For many SIPP providers that is indeed the case, but some take a cut of the interest paid on the mandated SIPP bank account, which is designed to move money between investments, receive contributions, pay income and hold money in the ...