Wednesday, 2 December 2015

Tips and tricks - 6% interest on savings, cashback and Apple Pay

For those who do not know yet, M&S start a current account which can give option of one savings account, limited at 250 pounds/monthly, for one year, with 6% interest. This is slightly better than TSB offer, which despite 5% interest and 250 pounds monthly, you can used only once, for one year. M&S one, you can make a new one after the older one is finished, every 12 months. It is not much, only 100 per year, but i like M&S, and i can use the debit card for cashback too.

I plan to use this on top of TSB one, having 250+250 in savings each month, one with 5%, one with 6%, as super secret emergency fund, just in case. If you need you can take the money right away. Of course, if you closed early, no interest for you and no savings account at preferential interest rate until the 12 months term is finished.

Speaking about banks, 5% cashback if i use Apple Pay for TSB and Santander, up to 100 pounds monthly. TSB use contactless card cashback 5% up to100 pounds too.

I hope it will help.

P.S. TSB and M&S current account are free, Santander is 2/month, going to 5/month in January 2016.

P.S.2 The IMF voted ‘yes’ to adding the Chinese currency to a VIP group of reserve currencies. A nice thing to follow up, but i will not invest in Chinese finance yet.

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