| Plus... 29mths 0%, EE & BT warning, birthday freebies, Clubcard deals, Next sale  THE TOP TIPS IN THIS EMAIL
| | Martin: At last. Firms fight for business again
1. New FREE £125 bank switch bribe
2. A new longer, longest 0% debt shift card
3. New higher rate, top easy-access savings
 In March, life changed. The pandemic hit, as did a financial crunch. And we're still all heavily impacted by the ongoing and knock-on medical, societal and economic results.
Yet there is a copper lining peeking through the clouds. One of the more prosaic pandemic problems (try saying that aloud three times) was a cooling of financial competition as banks, building societies and others focused on dealing with the most vulnerable.
For months, all free-cash bank-switching bonuses were pulled, and most new 'top deals' for savings or credit cards have been top by attrition - ie, the new best was only best because other better deals were withdrawn. That was frustrating at a time when many were desperate to bolster their finances.
Today it looks like the temperature is again increasing. We've three new money best buys, all top as they're better than the prior best. So if you've waited to sort your savings, bank account or credit card... kick into gear. The big beasts of the banking world usually want your custom, and they're finally again willing to pay you a decent whack for it. So if you need some cash, grab it - the process is far easier and quicker than it used to be. It takes 7 working days and the new bank moves all payments (incl direct debits), closes your old account, and ensures all payments you receive there are forwarded. If owt goes wrong, you're protected.
Though you must pass a not-too-harsh credit check, and you need to use the banks' official switching services to get the protection and perks. You'll also usually need 2+ active direct debits to be switched over. -
 New. Biggest upfront cash - HSBC: FREE £125 + linked 2.75% savings. Newbies to HSBC can switch to its Advance account*, and you'll get £125 roughly 30 days after the switch. It also then gives you access to its 2.75% fixed regular saver, where you can save up to £250/mth. Its customer service rating from our Aug 2020 poll is a decent 47% 'great'.
- How do I qualify? Open the account and start a switch within 30 days. You'll need to pay in a min £1,750/mth, which is really just its way of saying "pay your salary in" (equiv to a min £25,600/yr). But I've a way round this below.
To qualify as a newbie you also can't have held an HSBC account (or opened a First Direct or M&S Bank account - they're part of the same group) since 1 Jan 2017.
- RBS: FREE £100 + £3/mth back. RBS is now offering customers who switch accounts to it from elsewhere a free £100 on a couple of its accounts. The standout is RBS Reward which bizarrely charges a £2/mth fee but then pays most people £5/mth, so you're £3/mth up. Yet its customer service rating is only 35% 'great'.
- How do I qualify? To get the bonus, you must pay in £1,500+ and log in to online/mobile banking by 30 Dec 2020. To grab the extra £3/mth on the Reward account, you must pay in £1,250/mth (equiv to a £17,000/yr salary) and log in monthly to its mobile app.
You can qualify even if you have an existing RBS Reward account (though you need to be switching in an account from elsewhere), unless you've had switching cash from RBS or its sister banks NatWest and Ulster Bank since Oct 2017.
- New. Lloyds: FREE £100 + choice of freebies, eg, 12 movie rentals. Those switching accounts from other banks to Club Lloyds get £100, interest of up to 1.5% on balances up to £5,000, and a choice of four annual benefits:
- 12 digital movie rentals (that would normally cost you c. £55)
- OR six cinema tickets (that'd cost £30-65, depending on location)
- OR a magazine subscription (that'd cost £35-45)
- OR a Gourmet Society membership (that'd cost c. £40)
Its customer service rating is a stronger 56% 'great'.
- How do I qualify? Open an account and complete a switch by Mon 9 Nov. You need to pay in at least £1,500/mth (equiv to a £21,500/yr salary) - if not there's a £3/mth fee, so if you can't make the pay-in, probably best to avoid this account.
You can qualify even if you have an existing Club Lloyds account provided you haven't had switching cash from Club Lloyds or Club Lloyds Platinum since April 2018.
- Looking for great customer service or got a strong APP-etite? The deals above are all about the free cash and perks - if you're looking for the top customer service ratings or highest rated apps, see our full Best Bank Accounts and Digital Banking guides.
How to cheat the minimum pay-in to qualify. Say the pay-in is £1,500 but you only have £1,000 coming in. Pay in the £1,000, withdraw £500 specifically to an account at another bank (or in cash) and then pay it back in, and BINGO - you'd qualify with all the accounts above.
Though there is a chance those on much lower salaries may not be accepted in the first place.
 A balance transfer is a key weapon to cut costs as you get a new credit card that pays off debt on other cards - so you owe it instead, but it's interest-free, so your repayments clear the actual debt rather than serving the interest - savings you £100s or £1,000s.
As MoneySaver Keith told us: "After paying some large vet bills I eventually followed your advice and switched to a 0% balance transfer, going from paying over £400/mth interest to paying off over £400/mth. This will see me debt-free this time next year and ready to start saving for a good holiday. I can't thank you enough, stay safe." And here too, there's some good news as the new TSB up to 29mth 0%* beats the prior longer 28mth deal. I explain which card to choose in the table below, but if unsure...
- Go for the LOWEST fee in the 0% period you're SURE you can repay in. If unsure, play safe and go long.
- Normally I'd say first go via our Balance Transfer Eligibility Calc to see which cards are likely to accept you. Sadly we've only data on one of our top 3 in there, but it's still a good precaution if acceptance could be an issue. | Top-pick 0% new cardholder debt-shift credit cards | | CARD | 0% & FEE (1) | HOW GOOD IS IT? | New. TSB 29mths 0%
(apply*) | - Up to 29mths 0%
- 2.95% fee | LONGEST 0% but an 'up to'. That means some with poorer credit scores may be accepted and offered 26 or 23mths at 0% - still pretty decent. After the 0% ends, it's 19.9% rep APR. | M&S Bank 28mths 0%
(apply) | - 28mths 0%
- 2.85% fee (min £5) | Longest non-'up to' 0%. If you're accepted, here you'll definitely get the full 28mths 0%. After, it's 19.9% rep APR.
Note: NatWest/RBS custs can get 28mths 0% + a lower 2.75% fee with another card. | Santander 18mths 0% NO FEE
(eligibility calc / apply*)
| - 18mths 0%
- NO FEE | Longest NO FEE 0% - easy winner if you can clear debt in 18mths. Plus all accepted customers get the full 18mths 0%. After the 0%, it's 18.9% rep APR.
Note: NatWest/RBS custs can get a 20mth 0% NO FEE card. | | (1) As a percentage of debt shifted. |
Always follow the Balance Transfer Golden Rules:
a) Never miss the min monthly repayment, or you could lose the 0%.
b) Clear the card (or shift again) before the 0% ends, or the rate rockets.
c) Don't spend/withdraw cash - it usually isn't at the cheap rate.
d) Balance-transfer within 60/90 days to get the 0% - check your card.
e) You can't balance-transfer between two cards from the same banking group with any of the cards above.
Full step-by-step help, Q&A and more card options in our Best Balance Transfers ( APR Examples) guide. Savings rates have been uglier than a blobfish with a cold this year - no surprise as UK interest rates are at a 300yr low. For the last few months, rates have been propped up by state-owned NS&I - which, as it's been trying to raise money, has offered rates far higher than all others.
Now some are finally playing catch-up. So CHECK YOUR SAVINGS RATES NOW. If they're lower than the rates below and you're free to move, then ditch and switch.
All accounts below have full UK savings safety protection of up to £85k per person, per institution. -
 New. Top easy-access savings - 1.2%. The top easy-access deals let you put money in and withdraw it whenever you want - so why earn less? Yesterday Skipton launched an easy-access account paying 1.2% AER (min £1 deposit) - this includes a 0.5% interest boost that will last for 12mths - I doubt the account will be around that long though.
That's pipped NS&I's Income Bond which had been top of the table for months. It pays a straight 1.16% AER (min £500) though it's a bit more complex as deposits and withdrawals need to be in chunks of £500 or more, and the interest doesn't compound. It does have the advantage that it must give 2mths' notice to drop rates though - and as the Govt still wants to raise money that's unlikely.
As with all easy-access accounts, the rates are variable, so keep your eye on them. More info and options in top easy-access savings. -
Fixes have also slightly improved - new top 1.25% 1yr fix. If you're happy to lock money away without access, there's a new player at the top of the table. Secure Trust Bank pays 1.25% AER on its 1yr fix (min £1,000).
Bigger savers can beat it via this Charter Savings Bank* 1.22% link. It's only avail via savings marketplaces, and this link takes you via Raisin which is one of them, though you still get Charter's full £85,000 savings safety protection.
Via that link, Raisin gives newbies £5 to £50 cashback on £5,000+ savings, which for all amounts from that up to £85,000 (except £33,000-£40,000 bizarrely) beats Secure Trust if you factor in the cashback. Full info and options in Top Savings. -
Can you UP the interest? A few things to check...
- Low income? Get a 50% savings bonus. Check the Help to Save scheme to see if you qualify.
- First-time buyer? Get a 25% boost on savings via a Lifetime ISA.
- Get up to 2.75% interest by saving monthly. See Regular Savings.
- Paying off debts and mortgages can be more lucrative. See Repay debt with savings? and Repay mortgage with savings?
- Pay tax on savings? See if a cash ISA is more suitable.
- Earn 2.02% on up to £1,000. See interest-paying bank accounts.
- Not sure how much to put away? An array of autosaving apps can decide for you. -------------------------------------- NEW. The Martin Lewis Money Show, 8.30pm Thu, ITV
Back every week for your 30min must-watch financial briefing
It's a new series of the week's must-watch financial briefing (if I say so myself, and I do regularly, so it must be right). We're live, so you set the agenda - tweet question suggestions to @MartinSLewis but you must use the show hashtag #MartinLewis. Plus I'll have the latest must-know news and we reveal the new "SHOULD I?" project. Do tune in or set the Betamax.
PS: Watch last week's 1hr financial ed special especially if you've teenage children (technically a different series, so I'm still claiming this week's the start). | | DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning. | New MSE special energy tariff
We've blagged the UK's cheapest energy + it has good service + it's 100% green. Save £200+/yr - but act ASAP, as other cheap deals are disappearing Energy prices for switchers have been rising due to an increase in the wholesale prices suppliers pay. In the last week, the three cheapest deals (all from tiddlers) have been pulled. And replacements aren't coming soon. Yet millions of people are overpaying, and winter's on its way, even if it doesn't feel it this week, so act quick. To help you get it sorted, we've blagged what on average is the UK's cheapest deal (it varies regionally). It's a fix, so the rate is locked in for the next year too. Here's how it rates among other hot deals - all for new customers only and all include £25 MSE dual-fuel cashback... CHEAPEST ENERGY DEALS - ALL FOR NEWBIES ONLY
Prices are avgs based on typical use. Your winner depends on region & use, so links go via our comparison | | BENCHMARK: Energy price cap (applies to 50%+ of homes) over next year on typical dual-fuel use | £1,042/yr (1) | | New. Pure Planet 1yr fix. MSE Blagged. Cheapest on market | It's Pure Planet's normal fix + our usual £25 dual-fuel cashback + an extra £22 bill credit after 3mths that we've blagged from Pure | 100% renewable elec & offset gas | Dual-fuel only | A good 3.9/5 service rating | Scheduled to be avail for the next 10 days | £836/yr (save £206/yr) | | Utility Point 1yr fix. Cheap 1yr fix & may win for some as it's only just behind Pure on price | Not renewable | Avail in Eng & Wal, but only in some of Scot | Dual-fuel only | A middling 3.1/5 service rating | £837/yr (save £205/yr) | | E.on 1yr fix. Cheapest Big 6 tariff | 100% renewable elec, but not gas | Dual-fuel and elec-only | Smart meters required where possible | A middling 3/5 service rating | £854/yr (save £188/yr) | | Deals not avail in NI, sadly. (1) Savings are versus that figure. | - Switching is easy - little changes apart from service and cost. Switch firm and it's the same gas, same elec and same safety. The only thing that changes is customer service and price. Your supply isn't cut off, while no one visits your home unless you're having smart meters installed. See our switching FAQs for more help.
- Do we make money from this? Yes. Like all energy comparison sites, we're paid each time you switch through us, yet we give you roughly half (that's £25 dual-fuel, £12.50 single-fuel cashback). This is money you wouldn't get if you went direct - not that the deals above are available directly anyway. So it's a win-win. The rest helps cover our costs and hopefully makes us some profit.
| Update. Work from home, EVEN just part of the week? Claim tax back on additional expenses. We've had a huge response since Martin first blogged this. Now he's updated it with news that even those back at their workplaces for part of the working week may still be able to claim for the rest. Full info in Martin's claim tax back for working from home blog. Adidas code - rare 30% off full-price items OR 15% off its already discounted outlet. Works on most of its stock online. Adidas code Warning if renewing or signing a new BT or EE deal - it plans inflation-busting hikes. See full BT and EE hike help and your rights. 40+ FREEBIES for your birthday, incl Krispy Kreme/Greggs doughnuts and free Body Shop £5. Sep is the most common birthday month (it's, er, 9mths after Christmas/New Year), and some brands let you claim freebies on your big day, while a few let you backdate it if your birthday was in early lockdown. Here are 40+ birthday freebies. It's 100 days till Christmas TODAY (Wed) - act now to save then. Sadly, it's likely Christmas will be different this year - smaller, but maybe less costly and with less pressure. Either way, early preparation (not early celebration) saves. Our Christmas MoneySaving Tips guide has scores of ways to prepare - here are three as a tease... 1) Agree to not give unnecessary presents , even if you're not struggling - it stops others who are needing to buy back. 2) If you will spend, earn 5% cashback on Christmas shopping. 3) Become a tactical shopper and set up a Christmas cupboard. New mortgage deals specifically for mortgage prisoners - MSE campaign victory. A building society has just launched two mortgages based on the affordability assessment changes we lobbied for. It's far from a cure-all, but it will help some trapped in mortgage misery with inactive lenders. Mortgage prisoner help | Back to uni? It's a new year but all change, incl...
Are you entitled to tuition refunds if teaching is online? | What about accommodation? | Don't believe debt myths | Top student bank accounts
Whether you (or your kids) are heading off to uni this autumn for the first time or continuing your studies, things are likely to be quite different this year. Here's the important financial information you need to know: -
 'Am I due a refund on £9,000 tuition fees if my course is now mostly online?' We've been swamped with angry questions like this - to help, Martin's bashed out a 10min video briefing on this, but don't hold out too much hope (he touches on the accommodation issue below too).
- The Govt expects most parents in Eng, Scot & NI (not Wales) to contribute - find out how much. Students are given money towards living costs. For most though, the amount is means-tested based on family income - a proxy for parental income. And even with total family income as low as £25,000/yr, you won't get the full loan, implying parents should fill the gap (but bizarrely you're never told this or even what the gap is). For help, see Martin's blog: How much the Govt expects parents to give children for uni.
- No special refund rights on accommodation, though you might get some flexibility. If classes are all online and you don't need your halls room or student house anymore, sadly there's no obligation on universities or private accommodation providers to refund costs. Yet some are offering flexibility - for full info see Can I get an accommodation refund?
- DON'T think of student loans as a debt - they're misnamed. They're far more like an additional tax. Discussions about student finance have been distorted by parties using it as a political football. This puts many off for the wrong reasons (on Martin's financial ed special last week, one 11-year-old girl was in such a panic she was trying to get a job to pay her loan now). So tool yourself up with our Student Loans Mythbusting guide, and spread the word.
- Free 60-minute student finance TV show for pupils & parents. Check out our free TV show for a full 60-min easy-to-watch guide from Martin. Student Loans Decoded
- New top student bank accounts 2020/21 - FREE 4yr railcard or up to £3,000 0% overdrafts. This year's top student accounts.
- 50+ MoneySaving tips incl freebies & discounts (eg, £10 off Ikea, free 6mths' Amazon Prime & Apple Music, 10% off Macs & iPads). We've a full checklist for students in our 50+ Student MoneySaving Tips plus loads more hidden student deals.
| Tesco 'Clubcard Prices' are back - up to 50% off 200 frozen food items, but is it any good? See Clubcard Prices analysis. Holland & Barrett 25% off code, incl free delivery. MSE Blagged. Works on most items, and you can stack it with other offers, eg, its 'up to half-price' sale. Ends Sun. Holland & Barrett £60 Boots beauty box for £20, incl No7, Soap & Glory, L'Oreal etc - can you find it? This six-piece set also includes Burt's Bees, Garnier and Face Halo items - eg, lip balm, clay mask and vitamin C cream. But stock is VERY limited. Boots set Next 50% off sale rumour. Unconfirmed, but we've done some digging and we're almost certain it's this week. See Next sale updates. Insurers must pay out for coronavirus cover - test case WIN(ish). In a complex judgment, the courts said many business insurers should pay out for coronavirus interruption, though it depends on the wording of policies. This may have an impact on similar insurance, eg, weddings. See insurance test case news. | Tell your friends about us They can get this email free every week | 6 new CORONAVIRUS financial need-to-knows, incl... Mortgage help extended, but... | Refunds if 'rule of six' stymies your plans | Rental evictions ban ends | Virgin to PAY OUT | And more...
Alongside worrying reports of rising case numbers, there have been a slew of financial and consumer coronavirus-related developments. So as always, here's our round-up of this week's need-to-knows... Remember, there's lots more help in our constantly updated coronavirus guides:
Travel rights | Employees | Self-employed & ltd co | Finance & bills | Benefits | Lockdown life  1) Mortgage holders to get 'tailored' further help - but additional payment holidays or reductions WILL go on your credit report. Currently you can ask for a first or second 3mth payment hol until Sat 31 Oct. After that, the regulator's now confirmed support - 'tailored' to your circumstances rather than the current 'one-size-fits-all' approach. So if you're struggling, it could mean further payment hols, reduced payments, or longer-term measures such as extending the mortgage term.
But the big change is this WILL GO ON YOUR CREDIT REPORT, likely a deliberate disincentive for people not to take help unless they really need it. Though if you do need it, do get help - a mark on your credit file is nothing compared to the financial cataclysm that ensues if you can't meet your bills. Full info in mortgage payment help . 2) New 'rule of six' limits social gatherings - if you have to cancel a UK holiday, you should get a full refund. Groups of more than six people are no longer allowed to meet socially in most of the UK (who counts as part of the six varies), which means some will have to cancel, say, a trip if two families of four had a holiday cottage booked. If so, you should be due a full refund, and big firms we've checked with so far say they WILL pay up. Full info in 'rule of six' refunds. 3) Rental evictions ban in Eng & Wal ends Sun - but landlords must now usually give 6mths' notice. The ban on court eviction hearings in Eng & Wal is ending, but some other protections have been put in place. In most cases landlords must now give 6mths' warning that they wish to terminate your contract, plus you can't be evicted between 11 Dec 2020 and 11 Jan 2021 as part of a "winter truce". Full details of what's happening across the UK and what to do if behind on payments in rental evictions to restart. 4) Run a business forced to close by a local lockdown in Eng? Get up to £1,500 every 3wks. New payments have been announced for businesses in England that are forced to close due to local lockdowns, in addition to existing support available - you can claim up to £1,500 per premises for every 3wk period your business has to shut. See How do I claim my lockdown grant? 5) Virgin promises to pay outstanding refunds by end of October. It's said Virgin Atlantic and Virgin Holidays customers with outstanding claims should be paid by then, while those who make a new claim by the end of Sep should be refunded within 60 days. See Virgin refunds latest. 6) Portugal's joined the quarantine list in Eng & NI - travel restrictions latest. The rules on overseas travel continue to change every week. See the latest developments and your refund rights if you have a booking or need to quarantine in travel disruption help. | THIS WEEK'S POLL Have you changed your pension contributions during the pandemic? Coronavirus has had a significant impact - sometimes negative, sometimes positive - on many people's finances. This week, we want to know how pension contributions may have changed as a result. So have you altered what you put in, and if so, how? Online shopping has surged in popularity - among MoneySavers of all ages. Last week, we asked you how much of your shopping (excl groceries) you do online vs in store, to see how habits have changed during the pandemic. Almost 6,500 responded, and 70% say they now do the majority of shopping online - a huge jump from 44% a year ago. And while younger MoneySavers then were keenest on buying online, this time round it beat buying on the high street in EVERY age group. See full online shopping results. | MONEY MORAL DILEMMA Should I pay to replace the sink I damaged? A friend was replacing their bathroom basin and, having recently done the same myself, I offered my (amateur) assistance. I successfully completed all the plumbing and so on, but when it came to fitting the basin, I dropped and chipped it. It'll cost £70 to replace, and while I'm sorry to have damaged it, I don't think it's right that I should be out of pocket for trying to help. Should I pay for it? Enter the Money Moral Maze: Should I pay to replace the sink I damaged? | Suggest an MMD | View past MMDs | Birthday freebies - 40+ incl free Krispy Kreme, Body Shop £5
Holland & Barrett - 25% off most items code, incl free delivery
Adidas - 30% off most full-price items code or extra 15% off outlet
Boots - £60 beauty set for £20, incl No7, Soap & Glory. Ltd stock
Next - 50% off sale starting this week? Asda - £5 for five selected items, eg, four-pack Magnum ice creams
Walkers - 2for1 at Pizza Express, Yo and more via £1ish crisps
Deliveroo - £5 off £20+ code for independent restaurants
Leon - Free criss-cross fries (norm £2.45) on Thu/Fri via O2
Shopmium - 'Free' £2ish Lindt choc for cashback app newbies | M&S - 'Up to 70% off' sale
Free football - Sessions for 5-11 yr olds with FA-qualified coaches
Beano - Free monthly digital comics
Vue - Two cinema tickets for £7 any day via Vodafone or Voxi
Mario Kart Tour - Free game for Android and iOS phones | | MARTIN'S APPEARANCES (WED 16 SEP ONWARDS) Thu 17 Sep - This Morning, phone-in, ITV, 10.55am
Thu 17 Sep - The Martin Lewis Money Show, ITV, 8.30pm
Mon 21 Sep - Ask Martin Lewis, BBC Radio 5 Live, 12.20pm. Listen again MSE TEAM APPEARANCES (SUBJECTS TBC) Thu 17 Sep - BBC Three Counties Radio, Mid-morning with Jonathan Vernon-Smith, from 11.45am
Mon 21 Sep - BBC Radio Manchester, Drive with Phil Trow, from 2.25pm
Tue 22 Sep - BBC Radio Cambridgeshire, Lunchtime Live with Jeremy Sallis, from 12.25pm | HOW SOON IS TOO SOON FOR CHRISTMAS ON THE HIGH STREET? That's all for this week, but before we go... we know Christmas may not be the same this year but we've spotted shops already selling Christmas goodies - and it's caused quite a stir on our social channels. While some welcome it and say it's a good chance for those who are buying presents to stock up gradually to spread the cost and help them budget, others want the 'C' word banned until after Bonfire Night (especially this year). Join the debate in our Is it too early for Christmas? Facebook post. We hope you save some money, stay safe,
The MSE team | |
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