Every Thursday we look at a different savings option, explain the pros and cons, and reveal the best deals on the market . This week we're talking about the top interest-paying current accounts. Savings Champion founder Anna Bowes writes...From time to time there are plenty of incentives available to attempt to encourage people to switch their current accounts - but switching is not always necessary.
These accounts are usually more complicated than a traditional savings account and there are a number of hoops to jump through and potential hazards to avoid, in order to get the returns on offer. Potential traps to look out for are: low maximum balances, introductory rates, monthly fees, a requirement to set up direct debits, a minimum amount to pay in each month and a minimum amount to maintain in the account.
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