A new hybrid “personal” account has come onto the market from Egg, and the company hopes it will change the way people think about money.
The online bank’s new offering is basically a current account with some of the features of a savings account thrown in.
The account separates direct debits and other monthly charges from “spending” money ñ the money left over.
The account offers four per cent interest on positive balances, a debit card and an ATM cash withdrawal facility
Egg chief financial officer Mark Nancarrow said: “Current accounts have become a melting pot of all our money matters, but they do not give us an accurate picture of where we stand financially at any one time.
“Liberating our spending money from the more mundane things in life would not only save us money, but would enable us to understand, control and budget more efficiently.”
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