Overview

• More than half of UK savers hold £297 billion in zero-interest current accounts, eroding spending power as inflation outpaces returns.
• Analysis finds over 80 percent of easy-access savings accounts carry strings like tiered rates, withdrawal caps or bonus periods that reduce yields after the introductory phase.
• Nationwide has rolled out £100 Fairer Share payments to four million members and a £200 switch reward for customers opening a current account.
• NatWest and Santander are offering switching bonuses up to £180 alongside perks such as high-rate digital savers and bill cashback to win new clients.
• Online banks and savings platforms now offer rates of 4.5 percent or more, including Atom’s 4.75 percent easy-access account and cash ISAs paying up to 4.92 percent.