Why your bank could be costing you more than you think (aff)
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From low interest to limited perks, more people are realising their bank may not be working as hard as they are
Most people don’t think twice about their bank until it starts costing them money.
Whether you’re running a growing company or just keeping your household ticking over, it’s easy to assume your bank is doing its job in the background.
But more often than not, it’s doing the bare minimum – offering low returns, limited perks, and support that feels distant when you actually need it.
A new generation of banking is putting more focus on rewarding everyday use, not just holding your money. That means better returns on cash sitting in your account, cashback on spending, and tools that actually make managing money simpler rather than more complicated.
Current accounts from a new challenger bank called Allica now include an instant access savings element offering up to 4.08% AER, giving users a way to earn more without locking money away.
Allica's rewards account also offers up to 1.5% cashback on card spend – turning regular outgoings into something that gives a little back each month.
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It’s not just about the numbers, either. There are features like app-based management, real-time insights, and integrations with tools people already use are becoming standard.
And in a shift back to how banking used to be, there’s also a renewed focus on having an actual person to speak to when something needs sorting.
All of it adds up to a simple idea: your bank should be working for you, not just sitting there in the background.
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