Current account holders with Julian Hodge should consider moving their cash elsewhere. The Cardiff-based bank has responded to the Bank of England’s 1% cut in the base rate by removing all interest on some of its accounts.
Customers with less than £4,999 in a Julian Hodge eight-day notice deposit account will earn 0% interest. Savers with between £5,000 and £10,000 will earn 0.4% interest (net) AER. Customers who have a Julian Hodge high interest cheque account will earn 0% on savings under £50,000.
Which? would recommend anyone with a Julian Hodge current account that is paying 0% move their money to a Which? Best Buy current account, such as the Alliance and Leicester Premier Direct account, paying 6.5% interest.
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