Are we seeing a shake-up in the savings world?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 6 July 2018
⏱️ 52 minutes
🧾️ Download transcript
Summary
The world of savings could be set for a shake-up when a new player comes to town – Marcus.
Marcus is an online challenger bank and an offshoot of investment banking giant Goldman Sachs, and may just put a bit of welcome pressure on rates in the savings market.
But that’s not the only change afoot in savings.
Virgin Money is launching an account where interest is earned in air miles, best-buy fixed rate deals are at a two-year high and Monzo has seen losses quadruple. There’s a lot going on.
On this episode of the This is Money podcast, consumer affairs editor Lee Boyce and assistant editor Rachel Rickard Straus join presenter Georgie Frost to discuss all this and what it means for savers.
They also talk through hotel booking websites, their tricks and whether they work for or against holidaymakers.
The trio also discuss how much we need to save for retirement, why a raffle to win a Brixton flat has just been extended, and finally… could success in the World Cup really boost the economy?
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to This Is Money podcast in partnership with NS&I. I'm your host Georgie Frost, |
| 0:06.3 | and joining me today is Personal Finance Editor Rachel Rickard Strauss and Consumer Affairs Editor Lee Boyce. |
| 0:12.3 | And coming up, hotel booking sites told to sort themselves out by the competition watchdog. |
| 0:17.3 | But one woman, she sat in this studio, doesn't mind the pressure cell. |
| 0:21.8 | Also today, whisper it softly, but we have some exciting news for savers, including from |
| 0:26.7 | something called Marcus. |
| 0:28.9 | It's a bank, but don't be fooled by the friendly sounding name. |
| 0:32.1 | Plus, raffling home, are we bored with this latest quirky idea already? |
| 0:36.7 | How much do you really need to save for retirement? |
| 0:38.7 | Does having a figure in mind help you get there? And the winners and the losers of the World |
| 0:43.3 | Cup are not only those on the pitches of Russia. Don't forget him's up to date. With all the latest |
| 0:48.4 | breaking money news, just go to this ismoney.com.uk or download the app. |
| 0:53.8 | This is Money. Brought to you in partnership with NS&I, where safer savings set you free. |
| 1:01.2 | Right, your last chance to listen. Download right now. |
| 1:04.1 | There is at least one other person listening to this podcast. Maybe you get the message. |
| 1:09.1 | And now it seems so too has the competition's watchdog, not about |
| 1:11.9 | podcasts I might add, but about hotel booking websites. Now the competition of markets authority |
| 1:17.3 | has been investigating a number of issues, including these sorts of pressure sales tactics over the last |
| 1:22.4 | nine months. And it seems they're sufficiently unhappy to issue legal warnings, but they aren't naming names. |
| 1:29.3 | So firstly, I'm just going to come to you, Lee, about these websites. |
| 1:34.3 | Why do people use them? Like, what are they? |
| 1:36.3 | Well, people these days like to have a look at a hotel that they're going to book online first, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.