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Five minute guide to treating savers fairly ‘Basically a good idea’

SAVERS have struggled to get a decent return on cash for a decade, but some have struggled more than others.

  • Harvey Jones
  • Express

The Bank of England’s move to slash base rates to 0.5 per cent at the peak of the financial crisis in March 2009 is primarily to blame.

Muv 4dBanks, and to a lesser extent building societies, have made a bad situation worse by abandoning loyal savers who have kept the same account for years.

The average closed branch-based savings account pays just 0.1 per cent, while some pay a scandalously low 0.01 per cent.

This is hardest on loyal, older savers who do not want the…

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