Silver savers lose on web deals: Some 34% of easy-access accounts cannot be opened in a bank branch
34% of easy-access accounts cannot be opened in a bank branch
Older savers may be missing out on the best-earning accounts because a third of easy-access deals are online only.
A total of 62 per cent of the easy-access market now offers online access according to research by Moneyfacts.
But 34 per cent of accounts cannot be opened in a bank branch — leading to concerns older and vulnerable customers may miss out.
So-called ‘silver savers’ may think that they are getting the best deal with over-50s accounts — but some of the best rates require online access.
ICICI Bank UK offers the best easy access rate at 1.54 per cent, but savers have to apply online.
Yorkshire Building Society offers the best earning account with branch access, paying 1.41 per cent.
However SAGA’s telephone access saver, designed for the over-50s, comes with a rate of just 0.7 per cent.
THIS IS MONEY’S FIVE OF THE BEST SAVINGS DEALS