Revver has become the first new bank to be authorised by the Bank of England and Prudential Regulation Authority in 2019, having been granted ‘authorisation with restrictions’ late in June.
If you keep an eye on best buys, you’d be forgiven for thinking that last month was a quiet month in the market, as headline rates have barely changed in the past few weeks.
Having been starved of new savings bank launches since the high water mark of 2017, aside from Marcus in September 2018, we have now seen two in a matter of weeks.
Thursday 21st February saw Arbuthnot Direct become the 42nd new entrant, by our calculations, to enter the UK banking or savings market since the market opened up in 2009.
Smart Save Bank return with best 1 Year Fixed Rate, Best business savings rate for a year, HSBC offers £175 cash bonus to switchers, Billericay Summerfest and the World’s Fastest Tuk Tuk
In the third episode of Savings Guru TV, James talks to Brian Bartaby of Proplend about the P2P investment market, Innovative Finance ISAs, and the potential impact of Brexit.
The Savings Guru help start up/challenger banks apply for a licence, build their savings business and attract savers and they provide consumers insight to the savings market.
They set up and launched Shawbrook and Clydesdale Bank International in to the savings market, and their recent clients include Arbuthnot Latham, Zopa, Cambridge Building Society, Harrods Bank Ltd and Cambridge & Counties Bank.
In the latest episode of Savings Guru TV, James Blower discusses the latest savings news with Julian Hynd, previously with Ford Money and National Savings & Investments.
Each month, James writes columns for Around Town and BeauLieu Magazines, which are delivered to 60,000 homes and businesses in Essex.
It’s been a very quiet month at the top of the best buy tables with no changes to the headline rates, with the exception of notice accounts where Secure Trust Bank have leapfrogged Hampshire Trust Bank with their 90 day notice account paying 1.92%.
It’s been a busy few weeks in the savings market and at Savings Guru HQ with a host of rate changes, two new banks entering the market and an awards evening!
As we approach the end of the tax year, we increasingly get asked by savers whether it is still worth their while saving in a cash ISA.
Each month, James writes a column for Around Town Magazine, which goes out to 60,000 homes and businesses in Essex. His January column is reproduced here: