Banks calling halt to credit interest on current accounts

Current accounts hardly or - in most cases –  even stopped paying credit interest to their customers.  Especially the high-street banks decided to no longer pay credit interest to cut the costs, which should be hardly tangible for the individual customer because the average paid interest rate is a shabby 0.77%. Savers would be better off moving their money to a savings account or they can transfer it to the fixed-rate bond market, f.i. The Tesco Bank offers 2,95% gross for one year and 3,5% gross for two years, with a minimum of £2000. One can easily switch to the Tesco Bank by opening an account over the phone, the transfer can be done with a cash card. (The Guardian)

Evelyn Stalpaert