Birmingham Midshires Direct Savings Account "will undoubtedly woo savers

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www.moneynews.co.uk > Banking > Birmingham Midshires Direct Savings Account "will undoubtedly woo savers

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Birmingham Midshires Direct Savings Account "will undoubtedly woo savers

The independent personal finance information provider Moneyfacts has given its verdict on the new Birmingham Midshires Direct Savings Account.

Its "very competitive rate" of 4.75 per cent is expected to make an impact in the savings market, given that the rate is guaranteed to stay 0.25 per cent above the popular ING Direct Savings Account.

Moneyfacts has said that any good deal on a new product is good news for the customer and it expects many people to realise they could be getting a better rate elsewhere.

Andrew Hagger, head of news and press at moneyfacts.co.uk, said: "It is certainly refreshing to see another player in the savings market introducing a 'no strings' account paying a decent rate of return."

“The link to an established and extremely popular account such as ING is an interesting marketing approach," he added.

Birmingham Midshires savings accounts can be managed either by telephone or via the internet.

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