Page 72 - Benjamin Franklin\'s The Way to Wealth: A 52 brilliant ideas interpretation - PDFDrive.com

stealer—inflation. Remember that when hunting for great rates, the worst
place to look is almost certainly your own bank. Banks tend to reward loyal
customers by doing the dirty on them when they’re not looking. They rarely
offer the best deals because they don’t have to—they have a semi-captive
audience of existing customers who use them for savings accounts and other
financial products because that seems easiest.

Don’t let inertia steal your precious savings; shop around and be prepared
to be adventurous because the best offers are usually from places you
haven’t heard of. For example, in the UK at the time of writing the best
deal is a savings account from Kaupthing Edge. Who?! Precisely. Unless
you’re a fan of Icelandic finance, Kaupthing Edge has probably passed you
by. It’s signed up to the UK Banking Code, though, so if it disappeared
tomorrow up to £35,000 of your savings would be safe.

HERE’S AN IDEA FOR YOU…
The best deal available at any one time varies from month to month so
be prepared to move your money at any time to make the most of it
(introductory offers often end after a fixed period). To save surfing all
the bank websites, use comparison agents.