One such choice is being offered by Chip, a smartphone banking app which is perhaps less familiar to Britons.
Nonetheless, the reputable provider is offering a 1.25 percent interest rate through its Chip+1 account.
Offering one of the top returns at present, individuals will be able to earn this interest rate on an easy access basis.
Thankfully, the provider has offered further details to help curious savers.
Its website explains: “Why/how are we doing this? We’re simply giving our advertising budget directly to our savers in recommending Chip to their friends.
“We think you deserve it more than Facebook and Google do.”
An existing Chip customer must share a VIP code with a friend who doesn’t yet have the banking app so both can benefit.
The fact this account is different to others means Britons are generally encouraged to undertake research to see if this will work for them.
All money a person deposits into their Chip account is protected by the Financial Services Compensation Scheme (FSCS).
In the event a regulated financial business is unable to pay for claims against them, the FSCS will step in to pay the compensation.
Under Chip’s association with the scheme, all money deposited is held in a segregated trust account with UK authorised bank ClearBank.
This means savers know their money is in safe hands and do not have to worry, as this is a valuable safety net.
This post originally appeared on Daily Express :: Finance Feed