For those who want to weather some economic uncertainty by keeping their savings locked away for two years – while crucially being able to manage it online – here are the top deals currently available.

• Zenith Bank (UK) Ltd pays the top rate among internet-operated two-year bonds, with the Raisin UK – 2 Year Fixed Term Deposit account offering a rate of 0.93% AER paid on maturity. It requires a minimum investment of £1,000 and, as is common in the sector, no further deposits or withdrawals will be allowed. The account is exclusively available via the Raisin UK platform, and as an added perk, Raisin UK is offering a bonus or Amazon gift card of up to £50 for new customers (terms and conditions apply).

• Next up is Hampshire Trust Bank, with 2 Year Bond (Issue 47) paying a rate of 0.91% AER on its anniversary from a minimum initial deposit of £1,000. Further additions are allowed for 14 days from account opening, after which there is no access to funds prior to maturity.

• Several accounts pay the next-best rate of 0.90%, one of which is United Trust Bank’s UTB 2 Year Bond. This account pays interest on its anniversary and requires a minimum investment of £5,000, with neither further deposits nor earlier access permitted.

To find more two-year bonds that can be managed online, head to our savings chart.

Top products – At a glance

How to give to charity through your savings

Consumers who are fortunate to have spare money to put into savings in the run up to Christmas this year may want to give something back by choosing a savings account that donates money to charity.

There are a number of accounts available that do this, whereby they give a percentage of the balance held to a charitable cause, which can be a great way to donate to charity while building up a savings fund at the same time. However, savers should keep in mind that none of these accounts offer competitive rates, with the highest-paying charity savings account offering a rate of just 0.40%.

“Charity savings accounts permit the provider to donate on the consumer’s behalf. For example, for savers who want instant access to their cash, Coventry Building Society has a Supporters Account that pays 0.25% to the saver and the society will pay a yearly rate of 1% to a chosen charity, such as Willow Trust,” explained Rachel Springall, finance expert at Moneyfacts.co.uk.

“Sadly, charity savings accounts have been hit by rate cuts just like the rest of the market, so consumers will need to weigh up their options and compare deals carefully.”

An alternative way for consumers to donate to charity can be through their current account, as some offer the chance to donate rewards gained to charity. As Springall explained: “Banking customers can help good causes with a simple donation by forgoing a reward payment on some current accounts and instead giving it straight to charity. For example, The Co-operative Bank offers its Everyday Rewards scheme that pays a monthly reward of £2, plus up to £3 in debit card rewards, all of which can be donated to one of its five chosen charities: Amnesty International, Hospice UK, Oxfam, Refuge or Woodland Trust.”

You can read more of this story online, or head straight to our savings charts to see if you can find a charitable deal.

Product Spotlight: How to improve your credit score in 2021

With the new year approaching, many will be looking at how they can improve their finances for the months ahead, and one of the best ways to do that is to improve their credit score. The first step to achieving this goal is for consumers to check their current score, either through free credit check providers such as Totally Money, Check My File or Experian, or through those that charge a fee (after a free trial) in return for more features, such as UK Credit Rating and UK Student Credit Checker. Compare credit check services and find out more about the different services and how they work in our full guide.

Then it’s time to focus on improving the score. Ways to do this include paying off debts as quickly as possible (and in the case of credit cards, by making more than the minimum repayment each month), closing unused credit accounts, keeping balances as low as possible, and for those who already have poor credit, taking out a credit repair card to prove to lenders that you can be a responsible borrower. There are plenty of other methods besides; you can find out more by reading our guide, and see if you can start 2021 with a better financial footprint.

How to send money abroad this Christmas

What is the easiest way to send money abroad?

The best way to send money abroad for Christmas will depend on factors such as the amount being sent and how regularly payments would be made. For a one-off payment of a few hundred pounds, the sender may find it easier to use their existing high street bank, although they should be aware that they will likely be charged a fee.

A notable exception to this is HSBC, which currently does not charge a fee for transfers made within the European Economic Area, or to another HSBC account, no matter where in the world it is located. However, those who do not bank with HSBC and who are looking to transfer a significant amount of money or send money overseas regularly, should consider a specialist money transfer company.

Often, these companies offer much better exchange rates than high street banks and charge a small fee or no fee at all. In addition to this, the money is sent securely and can sometimes be received on the same day, though the downside is that the money must be deposited into a bank account and cannot be transferred into cash. For those who want to send cash, Western Union may be a good option, but there must be a local branch available to the receiver.

How to get the best exchange rate when transferring money

To get the best value when sending money abroad, senders should look to get the most competitive exchange rate on offer, and it’s advisable to have an idea of the mid-market exchange rate before sending. This can be found using a currency converter calculator, which will give a rough idea of what to expect when comparing exchange rates. Ideally, the sender should shop around and compare rates of several different money transfer companies and banks to find the best option.

There’s more to this story online, and for more information about transferring money abroad, read our guide on international money transfers.

Home insurance gives valuable peace of mind that your home and its belongings are financially secure, and if you’re looking for a policy with an ethical slant, SAGIC could be well worth considering. SAGIC Home Insurance is owned by the Salvation Army and offers building and contents cover for homeowners, tenants and landlords – making it a great choice for property investors – with optional extras including accidental damage cover, personal possessions outside the home and even family legal protection. There are no amendment fees, credit card charges or costs for postal confirmations, and no interest on monthly payments either. Cover is increased by an additional 30% over the Christmas period – ideal for this time of year – and all profits are gifted straight back to the Salvation Army.

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