I've banked with Santander for years (back to when it was Alliance and Leicester) and I've never been tempted to switch banks. The 123 account pays for itself in interest and cashback (which cover the account fees). The website and app are easy to use, and telephone support is great when you need it. They have increased interest rates swiftly after Bank of England rate rises, unlike some other banks out there. Oh, and they don't make hidden bank charges when I receive payments from abroad.
Reviewed on: 22nd February 2023
Abundance offers ethical investments for ordinary people. You can invest as little as £5, and there are a range of investments across different sectors, from green energy to forestry to housing, allowing you to build a diverse portfolio and spread your risk. Each new debenture comes with a comprehensive offer document, detailing the backgrounds of the individuals involved, the business model, what your money will be spent on, how it will be repaid, and the risks - both general and peculiar to that project. If the company ends up in difficulties - which does happen - Abundance are proactive in supporting them, negotiating with government bodies (Ofgem being the most useless of these) and renegotiating repayment terms where necessary. They also provide regular updates. Returns are well-adjusted to the level of risk, with a range of high-interest/ high-risk vs lower-interest safer investments. As long as you remember this IS NOT a savings account and that your capital is at risk, and don't invest more than you can afford to lose, it's a great way to put your money to work for good.
Reviewed on: 22nd February 2023
I use Wise for my proofreading business. I work for many clients around the world. Wise means that they can pay me in a variety of currencies (Euros, Dollars, Romanian Lei) or send money in UK Pounds while avoiding massive bank charges at their end. The fees are completely transparent (which means I always know what to charge to cover any fees) and also very low compared to the competition. The fact I can hold foreign currency means I can also time my transfers back to my UK account, to take advantage of fluctuating exchange rates: something that's probably earned me a couple of hundred quid since opening the account and at least reap some advantage from the plummeting pound due to Brexit, N. Ireland, Liz Truss and Kamikwasi Kwarteng, etc. etc.
Reviewed on: 20th February 2023
Without a doubt, the best savings account I've ever had! I can move money in and out at will, designated to an unlimited number of different pots, and choose the level of interest depending on how soon I might need the money. So if a client pays for a year's work in advance, I can pop that money in a higher-interest pot and 'pay' myself into my current account as and when the work comes in. If I want to save up for a nephew's driving lessons? Just make a pot. Transfers of funds to and from my bank are handled smoothly and swiftly, and I get an email to notify me of any actions. I'm not one to exaggerate, but I've never felt so in control of my savings. This is banking for the 21st century.
Reviewed on: 20th February 2023
