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5 shares 8 View comments Savvy savers always need to be on the look-out for the best available deals for their cash. But how you save matters too and that's why it makes sense to take advantage of tax-free accounts. That opportunity comes in the form of cash Individual Savings Accounts (Isa) - but make sure you shop around to ensure the one you pick pays out the best returns on your nest egg. Top tips: Five things you need to know about cash Isas 1. What is a cash Isa? If you've got any savings, the rules are simple - you should have an Isa. The reason? You can avoid handing over a huge portion of your savings interest to the taxman. Unlike a normal savings account, Isa interest does not incur tax - and that means an extra 20 per cent or 40 per cent of the return on your nest egg is kept by you. An Isa can be used by anyone aged 16 or older for their tax-free savings allowance each tax year. In the 6 April 2012 to 5 April 2013 tax year the cash Isa all

9 shares 29 View comments Current accounts that pay out interest on your balance are few and far between nowadays - but once you know where to look, there are some good options available. Savings rates are at an all-time low, providing a good incentive for checking out alternative ways to make your money work harder - you could be earning as much as 5 per cent on your in-credit bank balance every month. We have scoured the small print to round-up the best interest-paying accounts. This page is kept up-to-date throughout the year - bookmark it for the very latest developments. Free money: We pick the best of the interest-paying current accounts Nationwide - 5% interest Nationwide is offering the highest available interest rate on a current account. Best interest rate Nationwide's FlexDirect account pays out 5 per cent in-credit interest on balances up to £2,500 for the first year - not bad considering most easy-access savings rates have slid in recent years to

0 View comments In the so-called good old days, a consumer who felt they had been treated unfairly by a financial institution such as a bank or building society, basically had to lump it. But the fairly recent introduction of the Financial Services Authority (FSA), the Financial Ombudsman and a whole host of regulatory bodies, has meant that today's consumer has some clout. The FSA was replaced for consumers by the Financial Conduct Authority (FCA) in early 2013. The standard grumble about your bank, which often includes being charged for exceeding your overdraft limit or having to spend your entire lunch break in the branch queue, is one matter. But being treated unfairly by a financial institution is another. Typical examples of mistreatment might include unreasonable delay, neglect, inefficiency or discourtesy of staff, failure to follow policy or proper procedures, unfair discrimination, inconsistency, inaction, mistakes of the law or giving inaccurat

13 View comments Choices: The likes of Co-op and Nationwide offer a sizeable alternative to the biggest High Street names, meanwhile smaller banks and building societies have lots to offer Consumers have had a lot to complain about when it comes to their banks in recent years. Slipping customer service standards mean that a fifth of all complaints are never resolved. Add to that the mistrust that has arisen from the mis-selling scandal and it is clear why people are looking to ditch and switch. The good news is that changing banks is a far easier process than it used to be, and new rules mean it is set to get even easier in the second half of the year. You can pick a bank that will pay better rates of interest and top service and it should do most of the switching work for you. Some will even give you free money. You can also decide to fight back against the stranglehold of big banking by picking a building society or smaller player. Thinking of switching to a better

10 shares 21 View comments Fed-up savers are shunning high street banks to boost their returns. They are using services that allow them to lend their money directly to borrowers and earn a premium income. It also means that loans are offered at competitive rates. But peer-to-peer lending is not without risks. The Mail on Sunday investigates. Growing returns: Keen gardener Lynne Oak earns £1,000 a month in interest from peer-to-peer lending firms DEALS FOR SAVERS I'M WILLING TO TAKE THE RISK One saver who decided to try peer-to-lending is Lynne Oak, 59, of St Albans, Hertfordshire. Lynne, who used Zopa, says: ‘I saw an advertisement online saying, “How to beat your own bank” and thought that’s a great idea. I’d just been given my Christmas bonus at work so I thought I would give it a go.’ That was in 2006. Now she is a committed lender. The former City worker, who runs her own foot care business, gets about 6.5 per cent annual interest after defaults and f

13 shares 25 View comments How hard does your bank account work for you? Hard enough to give you free travel insurance, cashback on your household bills, or simply standout customer service? Although it is only natural to have reservations over switching from a well-worn account that has seen you through your financial life - possibly since you were a teenager - this is no reason to stay put if you could be getting a better deal elsewhere. Here we look at some of the best options available to help you to make your money work harder, cut down on fees, or get free stuff. This is not an exhaustive list of all current accounts around, but as with our Five of the best Cash Isas round-up, we have chosen accounts that we feel stand out for some reason. Free insurance: Nationwide is offering European travel coverage with its current account Account for...free overall perks: Nationwide FlexAccount While many accounts have individual perks that make them stand out over oth

7 shares 27 View comments Savers are being warned not to tie their money up in a long-term fix. Experts say it would be ‘madness’ to hand over your money for five years with rates at their current low levels. In the past week, Halifax, Santander and Nationwide have all cut rates for those taking out fixed-rate bonds or tax-free fixed-rate cash Isas. Money to burn: In the past week, Halifax, Santander and Nationwide have all cut rates for those taking out fixed-rate bonds or tax-free fixed-rate cash Isas Halifax now pays a miserly 1.6 per cent after tax (two per cent before) to savers willing to lock their money up for five years. Fixed-rate bonds and Isas usually pay a decent premium if you are willing to go without use of your cash for five years, rather than just one or two. But the amount of extra interest you currently earn as a trade-off for leaving your money untouched for these extra years is so small it is not worth doing it.   More... Best savings