Frequently Asked Questions

Does Savings Champion give financial advice?

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At Savings Champion we are dedicated to savings and savings accounts and can only advise on those savings accounts that aren’t regulated by the FSA (this includes Cash ISAs). However we can talk you through the different types of savings accounts available and the rates offered.

If you’re looking for more tailored savings advice, our Concierge Managed Savings Service gives you the best rates whilst spreading the risk so your money is always protected by the FSCS or equivalent.

 

Why use Rate Tracker, surely I can diarise changes myself?

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Rate Tracker is a free service that not only reminds you when your bonus is about to expire, or your bond is due to mature, but also alerts you to any changes to your savings rates. Your diary can't alert you to any unanticipated changes, that's why we monitor your account. Banks and building societies have been happily slashing rates in recent months and we’ve been eagerly tracking and monitoring these account changes to ensure our users are kept fully informed and always know if they’re getting a good deal on their money.

How does Savings Champion make money?

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Savings Champion offers all savers a completely free and independent savings advice service. For those looking for a more tailored savings advice service, our Concierge Managed Savings Service gives you the best rates whilst spreading the risk so your money is always protected by the FSCS or equivalent.

The Concierge Service offers a tailored advice service for anyone with more than £100,000 of cash in savings accounts.

The fee for the service is as follows:

  • Implementation Fee of 0.1%
  • Quarterly Management Fee of 0.05% (Paid in advance)

Prior to any commitment Savings Champion will be happy to illustrate the enhanced income achieved in order that clients can evaluate the financial benefit gained.

We are occasionally paid by some providers if you click through from our Best Buy Tables and open a savings account with them. We will never accept a payment that compromises in any way our independent, whole of market approach to providing information on savings products. For clarity we will indicate those companies (in the Best Buy Tables) who remunerate us with an asterisk *.
  
It is important to us that we run a business that meets the highest standards of professionalism and delivery for you the customer and also covers its costs.
And so you should be reassured to know that:

  • We have chosen not to take advertising as this clutters the site and could imply a recommendation from us and we believe that this would detract from your experience.
  • We will never pass your details to another organisation without your specific request or agreement to do so.

What we do know is that if we deliver a valuable and trustworthy service to you then ultimately that will be a profitable business for us.

 

Is it easy to cancel my account if I don't like the service?

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You can cancel your account at any time by accessing the “Your Account” section once you’ve logged in.  You can then click “delete your account” and your account will be closed.

Are there any hidden costs?

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No.  Rate Tracker is a completely free service. For savers with a large fund who want the best rates and full FSCS protection, without the hassle, we do offer our Concierge Managed Savings Service.

Are the rates always correct?

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Rates are monitored daily by our dedicated savings research team and we do our best to ensure all the rates listed are up to date and correct. From time to time there may be errors due to misinformation from providers, or simply human error, so please do let us know if you feel we need to correct our data so that we can continue to provide the best service for our customers.

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