Tag Archives: Great Savings Robbery

Giant Insurer Joins Savings Fray As Mainstream Chases ‘Excess’ £125 Billion

If the Bank of England’s Monetary Policy Report is right, there’s some £125 billion lying around the back of the UK’s savings sofa. During the pandemic crisis, we’ve stayed in and done little. Those households with income have found themselves with accumulated cash. We reported here on Goldman Sachs’ attempt to get some of that, […]

Savers Get a Boost, Of Sorts – But Great Savings Robbery Continues

Savers are still suffering in the UK. Retail price inflation is currently 1.4 per cent. Meanwhile, this news nugget, as carried by our friends at Finextra is as close as savers have got to good news after many years of such accounts underperforming inflation. This rate is relatively good… Marcus by Goldman Sachs has re-opened its […]

Negative Deposit Rates Pile On Misery For Income-Deprived Investors

We hate to say it, but we told you so. Negative deposit rates have finally arrived – albeit as a way of charging for forex transactions. The Daily Mail reports: Starling has become the first British bank to introduce negative interest rates for personal account customers, though only those who hold high balances in euros […]

Great Savings Robbery Revisited: Savers ‘Earning A Pittance’

It’s not just us talking about the Great Savings Robbery, even if others don’t use the same terminology. See this from the Daily Mail. Thousands of savers are earning a pittance on cash languishing in more than 1,400 closed easy-access accounts. Banks and building societies routinely launch accounts and withdraw old ones from sale. They […]

High-Street Robbery Latest – Cash ISA Providers Restrict Investor Choice

The news for Cash ISA (Individual Savings Account) investors keeps getting worse. A year ago in February, we did a bit of number crunching. See an extract from our report from that time: Cash ISAs – Depressing, Dismal – Or Daylight Robbery? Our objective was to calculate the average return on Cash ISAs. Bear in […]

Modern Savings Market: Great Savings Robbery Or ‘Betrayal’?

The language may be emotive but the loss is real. We have over the years often referred to the terribly low savings rates offered by banks and building societies to investors as the Great Savings Robbery. The point is simple: savings rates are consistently low, and borrowers find themselves paying higher rates. See some of […]

Cash ISA Returns: Dismal, Depressing – Or Just Daylight Robbery?

We have spent hours doing some important numbers. Our objective was to calculate the average return on Cash ISAs. Bear in mind that the current rate of retail price inflation in the UK stands at 3 per cent. The average Cash ISA yield came out at… 1.03 per cent. Money&Co. looked at 233 ISA-investable cash accounts. […]

Savers Suffer Petrol Pump-Style Pricing Policy On Cash Accounts

It may seem a somewhat bizarre analogy, but the cash-based savings market operates like petrol-pump pricing. Think of it as a case of commodity pricing. Motorists often complain that reduction in the price of the underlying commodity – oil, in this case – is frequently not passed on. In October, base rates increased by 0.25 […]