Jo M. Watson Bowman Offshore Bank Transfers on Ten Tips | Page 2

6. Profit by comparisons – it pays to research the rates paid by deposit-takers. Be sure to
compare like with like and don’t be taken in by a new rate offer that is well above the market
average. Those tempting percentages could be slashed once savers have been caught in the net.
7.
Profit from a competitive market – Today’s market is more competitive than ever. To put it
bluntly, financial companies want savers more than they do borrowers. Select a handful of
consistent top league payers and do your research to find out which one really wants to reward
your customer loyalty.
8. Profit by tracking market movements – Rates paid are still pegged to a currency’s base rate
set by central banks. If you saving in sterling, euros and US dollars, make sure you stay abreast of
these currencies’ base rates to gauge the rate offers on your accounts.
9. Profit by locking away for longer – Recent economic conditions aside, the best paying
accounts are those that lock savers into a fixed term – we’re talking a couple of percentage points’
difference. Calculate how long you can manage without accessing your savings pot and match that
period with a provider’s best fixed term offer.
10. Profit by saving regularly – Get the best from regular savings with products that encourage
and reward such good habits.