Martin Lewis says everyone should switch to these 4 banks to boost their bank balance

ok.co.uk:

BBC Sounds personality and ITV star Martin Lewis is dishing out some savvy financial advice to bank account holders, suggesting it's high time they considered making a switch.The money-saving guru is highlighting the importance of securing top-notch rates amidst fluctuating easy-access rates across the UK.Tweeting his top tip, Lewis shared: "The top easy access savings now beat fixes.

Check what yours pay, you can still get 5% or more." In his now must-read newsletter, he went into greater detail, stating: "What's happening to savings is a mirror of mortgages, except here higher rates are good, lower bad." He further explained the shift in the market: "The rate you can fix at has dropped, as they're based on longer-term interest-rate predictions, while the top paying variable (easy-access) rates haven't, as they're based on the UK base rate, which the Bank of England held last week. "So while normally you tend to get better rewarded for locking money away in a fix, right now you don't.The market consensus is the UK base rate will be cut in November, so easy-access rates are likely to drop 0.25 percentage points then, but that'd still leave the best of them on par with current fixes, so it's looking good, especially if you want access to your cash." According to a financial guide: "Though the benefit of fixing is long-term rate surety, so if you want to ensure a certain rate, and not risk big future drops, fixing and fixing longer does that (and as fixed rates may creep down a touch over the coming months, sooner is likely safer).

For everyone though, the key rule is there are HUGE variances between the best and the bog-standard rates in each category, so check what you earn, and ditch and switch if you can," as reports.