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February 6, 2023   |   Articles

MVNOs: The piggyback hack that’ll cut hundreds from your mobile phone bill

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Mobile Virtual Network Operators (MVNOs) give the same signal at lower prices.

It’s easy to ditch EE, O2, Three and Vodafone and save money without compromising on the quality of your service. That’s thanks to cheaper networks which piggyback off the big four networks to deliver their services.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is a Mobile Virtual Network?

There are four main networks. EE, Vodaphone, O2 and Three. And these are actually the only real networks. The rest are what are known as mobile virtual networks operators (or MVNO). And that includes big names such as Virgin Mobile, Giffgaff and ID Mobile.

Essentially these MVNOs have agreements in place to lease the infrastructure and technology of the main networks to offer their own branded services – and their own prices.

Benefits of switching to a virtual network

There are two key reasons not to be scared of switching your provider.

They usually have the lowest prices

You will get much, much lower prices from the virtual networks. This is even the case for those owned by the big networks such as Giffgaff (owned by O2’s parent company Telefonica), BT Mobile (which actually owns EE) and Voxi (owned by Vodafone).

Here’s a good example. Right now 5GB of data and unlimited texts and minutes with EE will cost you £18 a month. But 10GB of data from BT Mobile is half that price for BT customers. That’s a saving of £108 a year and double the data!

A handful of MVNOs are also changing how you’re charged – which could make them the cheapest option for you. Sky Mobile will let you carry over unused data, while Smarty will give you credit back on each full GB of data.

Or you can get extra discounts thanks to your existing contacts. BT, Sky, Virgin and TalkTalk all offer their customers special deals for adding a mobile SIM to their existing TV and broadband packages.

You can get the same signal

You won’t see any difference to reception as long as you move to one which operates on the same service as your current main network.

So that could be Virgin Mobile instead of EE, Tesco Mobile instead of O2, ID rather than Three or Voxi rather than Vodafone. There’s a decent list of the main virtual networks and the network they use further down the page.

There might be some minor differences. Though most will be offering 4G service, not all will provide 5G. And they don’t all allow wi-fi calling via your number – though you can get around this by using alternatives such as What’sApp to make calls via the internet.

Benefits of sticking with the big networks

Of course, it doesn’t mean the main networks don’t have benefits. The following can mean you’re better off sticking with the likes of EE and O2 – but only if you’re able to get those prices down.

You can really haggle down prices

This is true for most, if not all, mobile networks – but especially with the big four. Use your research on the virtual networks to find the price you want to pay and then see if your existing network will match or beat it. 

Until recently I was with Three one and off for years. And every time I went to cancel they came back with an even lower price than what was advertised on their website.

Third parties often have cheaper deals

You can also get new contracts or upgrades via comparison sites and mobile phone shops that can be significantly cheaper than going direct, though they don’t always include extras, such as those listen in the next point.

You often get extra features, services and freebies

Free streaming

The big networks offer all sorts of discounts, such as £2 off Disney+ via O2, or free Paramount+ via Three. However, these offers are usually restricted to certain tariffs. – and they might work out no cheaper than finding a different deal elsewhere and paying for the streaming direct.

Now these can be great value for money IF you are already planning to pay for these services. But they certainly shouldn’t be the main reasons to choose one of the main networks. 

Loyalty apps

The same goes for Vodafone’s VeryMe, O2 Priority and Three+. These popular loyalty apps do have the occasional great freebie or discount – but you need to check just how much extra these are costing you.

Use them a lot on things you’d get anyway then great – e.g. the free Odeon tickets and Greggs from O2. But in my experience these are nice to have extras rather than essentials.

And there’s a hack that’ll get you access to each one even if you’re with different networks.

“It’s understandable people are nervous of switching – but it’s costing them a fortune”

One of the families I filmed with for the Channel 5 series Shop Smart Save Money was Christine and James. Christine was paying a fortune with O2 but she didn’t want to change her provider. She knew O2 gave a signal in the locations she needed it and didn’t want to risk bad reception with another mobile company.

And I think that’s quite a common feeling. We rely on our phones all day, whether at work or at home. Yes you might be able to get a signal with another big network, or you might be able to hop on to some wi-fi at those locations. But sometimes you just want to stick with what you know works.

However I was able to convince Christine that not only would she save a shed load of cash by moving away from O2, but also that switching provider isn’t actually much of a risk. All thanks to finding an alternative virtual network that still used the O2 network.

Which Mobile Virtual Network Operators use each network

There are a number of providers out there, but here are some of the main ones you will see. Some are very familiar names!

MVNO for EE

  • BT Mobile
  • Plusnet
  • Your Co-op
  • Utility Warehouse
  • 1pMobile

MVNO for O2

  • Virgin Mobile
  • Giffgaff
  • Lyca
  • Sky
  • Tesco Mobile

MVNO for Three

  • ID
  • Smarty
  • Superdrug

MVNO for Vodafone

  • Voxi
  • Talk Mobile
  • Asda
  • Lebara

How to bring your mobile phone number with you

You can take your existing phone number with you to your new network. You just need to request a PAC from your existing network and give it to your new one, and your number will be moved over, usually the next working day. Here’s more on how that works.

More ways to bring down your mobile phone bill

December 28, 2022   |   Articles

The best of Be Clever With Your Cash in 2022

Written by
Catch up on my top articles, podcasts and videos from the last 12 months.

Over the last 12 months I’ve produced more content than ever before, writing 221 articles, recording 54 episodes of my Cash Chats podcast, uploading 96 videos to YouTube and hosted 25 live Q&A. And that’s not including countless deals posted here on the blog and Instagram!

No doubt even the most regular readers among you won’t have managed to take in all that money-saving and making content. So here’s a look at the highlights that are still well worth a look.

I’ve shared the most read, listened to and viewed over the year, which lends an obvious bias to content produced earlier in the year, so for each category I’ve also shared my personal favourite from the year.

And I’d also like to say thank you to all of you who consumer my content. This year will be my biggest by a long way, with close to 7.5 million views across all content. That’s almost double 2021’s figures. I couldn’t have done it without you, so thanks!

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

The Be Clever With Your Cash blog in 2022

It’s been another record year for visits to this site. In total 2.5 million people (up from 2.1 million last year) came to Be Clever With Your Cash reading a total of just over 4.1 million pages (up from 2.8 million in 2020).

Almost half a million of those views were for my savings best buy tables! Streaming deals and bank switch offers were also very popular.

The most read new articles published this year included:

My personal favourities included:

The Andy Clever Cash YouTube channel in 2022

2022 was another great year for YouTube. I started 2021 with 20,000 subscribers and by the time you read this that figure has just nudged over 50,000.

Views were also phenomenal, with more than 3.1 million taking place across all the videos – that’s almost 2 million more than in 2021.

Alongside the usual video guides, I also held 25 live Ask Andy Q&A’s which have been an amazing way to connect with you every other week.

The most viewed videos created this year included a number of my monthly updates on savings, banking and credit cards, which I won’t share below as they’re largely out of date (new versions are published every month). But of the rest, these had the most views:

There are also a handful of videos with lower views which I think are worth a look at if you missed them:

The Cash Chats podcast in 2022

Even though I had to drop the bonus weekly “Your Money, This Week” episode of the pod (I just didn’t have time, but hope to bring it back in 2023), there have been a total of 225,000 downloads (up from 172,000 in 2021) of Cash Chats, with double the number of people listening to each episode.

Once again I managed to publish at least one episode a week all year, bringing the number of consecutive weeks to 154! Podcasting might be smaller than the others, and not really bring in much income, but I love being able to speak to guests or just chat to you each week.

But the two biggest moments of the year for me were thanks to the podcast. First, in March, I interviewed then-Chancellor Rishi Sunak on the show, a huge coup for an independent podcast.

And then in October Cash Chats was featured as “Show of the Week” in the Radio Times, selected ahead of alternatives from the BBC, Which? and the FT.

I’m not going to suggest certain episodes to catch up on as it’s best to just follow Cash Chats on your podcast app via these buttons and start listening!

Apple Podcasts
Spotify
Google
RSS Feed
Amazon Music

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

November 15, 2022   |   Articles

The best price comparison sites for your shopping

Written by
Never pay more than you need to when shopping.

We’re used to using comparison sites for things like mobile phone contracts and insurance, but this kind of tool isn’t limited to bills.

You can quickly get a sense of the cheapest prices out there for a huge variety of items – from tech to trainers – with just a few clicks either to locate where you will buy or to use as a benchmark for further deal hunting.

So download these apps or bookmark these websites and make sure you check them before you shop.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Getting the best out of comparison sites

Use more than one

I’ve listed below the main ones I use, but it’s often worth a quick look at a couple of these sites as some retailers won’t appear on them all. You might also want to search a few different permutations if there are different models or colours as the price could vary on those too.

Watch for extra costs

We all know that the price you see isn’t always the final price you’ll pay. Fortunately, all the sites listed here will allow you to search with or without delivery. I’d suggest searching without this cost as a default, then if there are extra costs, checking after to see if there are ways to get free delivery.

Use the prices as a guide

The lowest price you find might not be the cheapest you can get it. Once you’ve found a handful of retailers with similar low prices, take a look at cashback and voucher code sites to see if you can get the price down even more. Doing this could well make the third or fourth lowest price on the comparison site the cheapest one overall.

Check price history

I’ve written before about how price history trackers are essential to work out if you’re getting a good price, so I won’t focus massively on it here. But many of these sites also offer this feature, so it’s worth checking while you’re looking at prices to see whether it’s worth buying now, or waiting for prices to fall.

Set price alerts

If you don’t spot a price you’re willing to pay, then some price comparison sites will set alerts for a target price. If the product price does drop to or below this you’ll get an email letting you know.

This can be really handy as it avoids you having to constantly check prices, and reduces the chance you’ll miss out on a great deal.

Sadly it will be limited to the retailers listed on each site, so you might need to have a couple of alerts across a few of the comparison site. And don’t forget to turn them off once you’ve made your purchase.

Get the app

Though you could just use your mobile phone’s browser to access these sites, some also have apps. These are particularly handy when you’re out and about as they tend to have barcode scanners, meaning you’ll get the exact product pop up instantly.

The best shopping comparison sites

Google Shopping

Over the years, my go-to price comparison tool has been just to whack the item into my browser bar. As I use Chrome, it defaults to a Google search, so this is the fastest way to see what’s out there – at least in the first instance.

The first results you’ll see are usually adverts, so you’ll want to hit “Shopping” in the filters to get all the results. A search for Sony’s WH-1000XM5 headphones brought up a few different options for the same product, but clicking allowed me to see results from a few more retailers. But be careful you’re not accidentally looking at a similar product that’s listed in the mix.

PriceSpy

However, Google Shopping doesn’t show every retailer, or allow you to see price history or set price alerts, which is where these other sites come into play.

Of them, PriceSpy has the edge thanks to a better price history interface. You can drill down the price changes at individual retailers. Simply click the main price history graph to open up a price history table. 

You can then expand the information for each shop. You’ll not only see what the price changes were, but when they happened, giving you an idea as to whether this is a regular promotion or a genuine special offer.

PriceSpy is also available as an app so you can search prices on the high street too and scan barcodes.

Idealo

Alternatives such as Idealo and Pricerunner both also have these features, but I prefer Idealo as my third choice.

Amazon – Camel Camel Camel (alerts and history only)

Since this site will only look at prices on Amazon itself, it’s not really a price comparison site. However, Camel Camel Camel will let you look at options direct from Amazon and third parties, set price alerts and track the price history.

I’ve installed an extension into my Chrome browser that lets me quickly see the price history graph without having to open up a separate tab.

If you don’t want to do this then a shortcut to find the items is to copy the product code from the Amazon page URL (highlighted in the pic below). It’s always in the same place. Then paste this into the Camel Camel Camel search bar and you’ll get the exact product you’re looking at.

How to quickly grab the Amazon product code from the URL

Read next

November 7, 2022   |   Deals

Latest Paypal offers & deals

Written by
From time to time PayPal runs extra offers that are worth checking out.

We all use PayPal (check out my review here and guide to features you might not know about), but you might also be able to nab a special offer. Here’s my pick of the latest deals:

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Offers

£10 when you spend £5 at Google Play

If you’ve never used Google Play before then use PayPal to spend £5 and you’ll get £10 credit to your PayPal wallet.

Ends 31 December 2022 and you need to use the credit by 31 January 2023.

Sign up to Google Play

Referral bonus

Free £20 credit for signing up or referring a friend

As explained here you can refer a friend and both get £10 if they’re new to PayPal. They’ll also have to spend £5 via PayPal for you to both get the cash paid into your accounts. Now this all has to be done before the 31 December 2022.

Also, you can only refer ten friends, capping the amount you earn at £200. That means I can’t share a link here, but if you are one of the first to contact me I’ll happily refer you from my account.

October 12, 2022   |   Articles

Chip app autosave fees could cost you £41 a year

Written by
With automatic saves, can this app help you put money away?

One of the best savings apps over the years has been Chip. A smart autosave feature and often decent interest rates have meant I’ve often been a big fan.

Note often, not always. That’s because it feels like every few months the proposition (and charges) change. Sometimes it’s free, sometimes it’s not, and in recent years there’s been a move to focus on investments over savings.

And the latest revamp means it (once again) won’t be free to use the auto-saving feature. In fact, it’s never been so expensive!

So is it worth getting or sticking with the app to boost your savings?

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is Chip?

Chip is an automated saving app for your phone or tablet. It analyses your current account and works out how much you can afford to save – and then does it for you by moving the money to a separate account.

It also offers a savings rate of 1.1% AER or a Prize Savings Account with the chance to win up to £20,000.

There are also an increasing number of investment features, though this article is focused just on savings.

How much does Chip cost?

One issue I have with Chip is how frequently they change the cost of using the app. Sometimes it’s free, sometimes you have to pay.

Currently there’s a free tier called “Chip”, which is all you need to access the savings accounts and features. This is the focus of the review.

There’s an additional paid tier called “ChipX” (at £5 every 28 days) which adds investing functionality.

Auto save charges

Rather than make users pay a monthly charge for the entry-level Chip tier (which has happened in the past) there are going to be charges from 12 October 2022 for using different features – including autosaves.

New savings fees

These new charges begin on 12 October 2022

  • 25p per recurring save
  • 45p per auto-save

New withdrawal charges

  • Two free withdrawals per calendar month
  • £1 per withdrawal after this

Are the new charges worth paying?

Andy’s Analysis

I’m disappointed Chip has added charges for using autosaves (again). I get that the app needs to make money, and they can’t offer loss leading products. But it’s ridiculously expensive.

An autosave happens every four days. So unless you turn them off or pause them, they will happen 7 times a month or 91 times a year. At 45p per autosave, you’ll pay £3.15 a month or £40.95 a year.

That’s far more than you’ll have paid for this feature on the pre-2022 model. And it’s something no one should be paying especially since the exact same function is available for free via the Plum app.

You’ll also need to be careful if you do use Chip not to withdraw your money more than twice a month, otherwise you’ll get hit with a hefty £1 fee.

How does Chip help you save?

Chip offers a handful of features to boost how much of your money goes into savings.

Autosaves

I really love the “big idea” behind Chip. With automated savings, the app’s “AI” (artificial intelligence – don’t worry it’s not Terminator) algorithm analyses your spending habits, and based on what goes in and out of your account (along with general data about all its users) Chip will suggest an amount you can afford to save each week.

The amount will vary depending on how much money you have in your account and how often you spend it. It could be just a few quid, or a decent chunk. In theory, you shouldn’t really notice that the money has gone.

This is great for those who always plan to save but never get around to it. The autosaves can quickly add up.

But with a 45p charge for each autosave you’re really wasting cash for using the feature. However, if you want to learn more, keep reading.

How often does Chip save money?

By default Chip will suggest savings for you every four days. You can pause auto-saves for a week, two weeks or a custom date up to three months away. 

It can take up to three working days for your money to reach the linked account.

How to cancel autosaves

You have until 3pm to choose to stop this payment if you wish. If you’re happy with the suggested amount you don’t need do anything and the money will automatically be sent to your Chip account.

How much can you save with Chip?

Chip says the average is £20. There are five levels of auto-saves, with one being the lowest. By default, you’re at level 3, but it’s easy to switch between them in the app. 

Overdraft savings

I’m not a fan of this feature which allows you to move money from your overdraft into Chip. If you do this you’ll likely end up paying huge overdraft fees. Personally I’d avoid activating it.

Minimum balances

This is a handy cap you can put so that Chip won’t every take money out of your connected bank account past a certain balance. This can ensure you don’t ever go overdrawn or not have enough cash for other payments.

Splitting your autosaves

You have the option to choose how much of your autosaves goes into each savings account or goal (more on these later). So you could put 80% into the main savings account, but 20% into another.

Recurring Saves

This feature lets you choose when you move a set amount over. It can be weekly, fortnightly, every four weeks or monthly.

It’s basically a standing order – but one that charges you 25p for each transfer. So you’d be better off just setting these up with your bank for free, and moving the money to one of the best paying savings accounts.

Savings goals

The savings goals feature is useful in helping you identify what you’re saving for, and track your progress against the targets you set.

You can enter a name, date and amount to help motivate you to keep saving. You can have as many as you want, and allocate how much of your autosaves goes to each goal. 

The app then shows you how realistic it is to achieve your savings target by certain dates in the calendar when you’re choosing your savings deadline. Once you set a savings goal, Chip lets you know whether you’re on track to hit your target.

The money isn’t held in separate pots for these goals (as you would with Starling or Monzo). It’ll still sit in whichever account you’ve chosen for your money.

Save streaks

The more you save without cancelling a transfer or withdrawing cash the longer your savings streak will be. In theory, this keeps you motivated to keep on saving, though I doubt you’ll pay much attention.

Chip’s savings accounts

The money you auto or manually save to Chip sits in one of the connected accounts.

There’s the Instant Access saver, which can pay a decent rate – you can see the latest one in our savings best buy tables.

Alternatively, you can put your money in the Prize Saver account. There’s no interest here but you might win a prize between £10 and £10,000. Here’s my full analysis.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

Is Chip any good for savings?

The autosave feature is great, but not at 45p per save. There’s no point paying 25p for the recurring saves either.

That leaves it just as an account to maximise earnings on savings. Does it perform? In the past Chip has offered high-interest rates, but the ones currently on offer can be beaten.

Alternatives to Chip

I’d use Plum for autosavings without a charge, and simply set up standing orders for regular payments for savings. Meanwhile Monzo and Starling let you create goals within their “Pots” or “Spaces” features.

For higher interest savings rates, check out my latest best buys.

Read next

October 7, 2022   |   ArticlesReview

Chip app autosave fees could cost you £41 a year

Written by
With automatic saves, can this app help you put money away?

One of the best savings apps over the years has been Chip. A smart autosave feature and often decent interest rates have meant I’ve often been a big fan.

Note often, not always. That’s because it feels like every few months the proposition (and charges) change. Sometimes it’s free, sometimes it’s not, and in recent years there’s been a move to focus on investments over savings.

And the latest revamp means it (once again) won’t be free to use the auto-saving feature. In fact, it’s never been so expensive!

So is it worth getting or sticking with the app to boost your savings?

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is Chip?

Chip is an automated saving app for your phone or tablet. It analyses your current account and works out how much you can afford to save – and then does it for you by moving the money to a separate account.

It also offers a savings rate of 1.1% AER or a Prize Savings Account with the chance to win up to £20,000.

There are also an increasing number of investment features, though this article is focused just on savings.

How much does Chip cost?

One issue I have with Chip is how frequently they change the cost of using the app. Sometimes it’s free, sometimes you have to pay.

Currently there’s a free tier called “Chip”, which is all you need to access the savings accounts and features. This is the focus of the review.

There’s an additional paid tier called “ChipX” (at £5 every 28 days) which adds investing functionality.

Auto save charges

Rather than make users pay a monthly charge for the entry-level Chip tier (which has happened in the past) there are going to be charges from 12 October 2022 for using different features – including autosaves.

New savings fees

These new charges begin on 12 October 2022

  • 25p per recurring save
  • 45p per auto-save

New withdrawal charges

  • Two free withdrawals per calendar month
  • £1 per withdrawal after this

Are the new charges worth paying?

Andy’s Analysis

I’m disappointed Chip has added charges for using autosaves (again). I get that the app needs to make money, and they can’t offer loss leading products. But it’s ridiculously expensive.

An autosave happens every four days. So unless you turn them off or pause them, they will happen 7 times a month or 91 times a year. At 45p per autosave, you’ll pay £3.15 a month or £40.95 a year.

That’s far more than you’ll have paid for this feature on the pre-2022 model. And it’s something no one should be paying especially since the exact same function is available for free via the Plum app.

You’ll also need to be careful if you do use Chip not to withdraw your money more than twice a month, otherwise you’ll get hit with a hefty £1 fee.

How does Chip help you save?

Chip offers a handful of features to boost how much of your money goes into savings.

Autosaves

I really love the “big idea” behind Chip. With automated savings, the app’s “AI” (artificial intelligence – don’t worry it’s not Terminator) algorithm analyses your spending habits, and based on what goes in and out of your account (along with general data about all its users) Chip will suggest an amount you can afford to save each week.

The amount will vary depending on how much money you have in your account and how often you spend it. It could be just a few quid, or a decent chunk. In theory, you shouldn’t really notice that the money has gone.

This is great for those who always plan to save but never get around to it. The autosaves can quickly add up.

But with a 45p charge for each autosave you’re really wasting cash for using the feature. However, if you want to learn more, keep reading.

How often does Chip save money?

By default Chip will suggest savings for you every four days. You can pause auto-saves for a week, two weeks or a custom date up to three months away. 

It can take up to three working days for your money to reach the linked account.

How to cancel autosaves

You have until 3pm to choose to stop this payment if you wish. If you’re happy with the suggested amount you don’t need do anything and the money will automatically be sent to your Chip account.

How much can you save with Chip?

Chip says the average is £20. There are five levels of auto-saves, with one being the lowest. By default, you’re at level 3, but it’s easy to switch between them in the app. 

Overdraft savings

I’m not a fan of this feature which allows you to move money from your overdraft into Chip. If you do this you’ll likely end up paying huge overdraft fees. Personally I’d avoid activating it.

Minimum balances

This is a handy cap you can put so that Chip won’t every take money out of your connected bank account past a certain balance. This can ensure you don’t ever go overdrawn or not have enough cash for other payments.

Splitting your autosaves

You have the option to choose how much of your autosaves goes into each savings account or goal (more on these later). So you could put 80% into the main savings account, but 20% into another.

Recurring Saves

This feature lets you choose when you move a set amount over. It can be weekly, fortnightly, every four weeks or monthly.

It’s basically a standing order – but one that charges you 25p for each transfer. So you’d be better off just setting these up with your bank for free, and moving the money to one of the best paying savings accounts.

Savings goals

The savings goals feature is useful in helping you identify what you’re saving for, and track your progress against the targets you set.

You can enter a name, date and amount to help motivate you to keep saving. You can have as many as you want, and allocate how much of your autosaves goes to each goal. 

The app then shows you how realistic it is to achieve your savings target by certain dates in the calendar when you’re choosing your savings deadline. Once you set a savings goal, Chip lets you know whether you’re on track to hit your target.

The money isn’t held in separate pots for these goals (as you would with Starling or Monzo). It’ll still sit in whichever account you’ve chosen for your money.

Save streaks

The more you save without cancelling a transfer or withdrawing cash the longer your savings streak will be. In theory, this keeps you motivated to keep on saving, though I doubt you’ll pay much attention.

Chip’s savings accounts

The money you auto or manually save to Chip sits in one of the connected accounts.

There’s the Instant Access saver, which can pay a decent rate – you can see the latest one in our savings best buy tables.

Alternatively, you can put your money in the Prize Saver account. There’s no interest here but you might win a prize between £10 and £10,000. Here’s my full analysis.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

Is Chip any good for savings?

The autosave feature is great, but not at 45p per save. There’s no point paying 25p for the recurring saves either.

That leaves it just as an account to maximise earnings on savings. Does it perform? In the past Chip has offered high-interest rates, but the ones currently on offer can be beaten.

Alternatives to Chip

I’d use Plum for autosavings without a charge, and simply set up standing orders for regular payments for savings. Meanwhile Monzo and Starling let you create goals within their “Pots” or “Spaces” features.

For higher interest savings rates, check out my latest best buys.

Read next

September 30, 2022   |   Review

Virgin Money M Plus current account: is it any good?

Written by

You’ll get up to 2.02% interest on savings, plus a freebies if you switch.

Virgin Money launched its new current account in late 2019, based on the B account from Clydesdale Bank. It has some attractive features such as high interest and fee-free spending overseas, but they’ve not been enough to get me to open an account.

But since late 2020 it got a lot more tempting, offering freebies and discounts to entice customers.

Here’s how the account and offers work and my thoughts on whether it’s worth it. Plus my video takes you through some of the features on the app.

Is the Virgin Money M Plus current account any good?

Let’s take a look at each key feature:

The interest on savings

At 2.02% this is the highest paying easy access account for savings at the moment (by a smidge) so it’s certainly worth considering.

There are a few restrictions. The largest is you will only earn interest on balances up to £1,000. Anything over this will get 0%. That works out as £20.20 in interest a year. Not a huge amount but better than what you’ll get elsewhere.

The linked savings account where you can put further money pays 2.02% on the first £25,000. This is variable but it can be beaten elsewhere. You have the option in this account to set up any number of savings pots within this account, all earning interest. This helps you split your savings out for different goals, such as an emergency fund or holiday.

The switching incentives

*Update 3 October 22 – There’s currently no switching offer from Virgin Money *

Unlike other banks, Virgin Money doesn’t offer cash. Instead it rotates between one or a combination of

  • 20,000 Virgin Red points
  • Free wine
  • A Virgin Experiences voucher
  • Boosted interest rates
  • A charitable donation

I’ve written in full about the latest switching offer.

The Virgin discounts

Virgin Money is calling this new part of the offer “Brighter Money Bundles” – and it’s available to all Virgin Money Current Account customers – not just new switchers.

The main offer right now seems to be up to £225 off a Virgin Media package. It’s only for new Virgin Media customers and you have to commit to an 18 month contract and pay a £35 set up fee.

The Virgin Media offers listed at launch can be seen here.

I’ve clicked through to see the offers and prices and it does look like prices are slightly lower than going direct to Virgin Media each month, plus there’s between £50 and £100 bill credit on top. It’s worth checking what you can get via a cashback site though for a proper comparison.

There aren’t any other offers listed right now, but it seems they’ll favour Virgin brands such as the gyms, airline and wine.

Fee free spending abroad

Though we can’t really travel right now, this is a really good feature you only see on Starling or Monzo and some credit cards (though Monzo and some credit cards have restrictions on cash withdrawals).

The best bank switch bonuses

Check out our list of all the bank switch offers you can get when opening a new current account

the best bank switch offers on a blue background

The app

The app positions itself along the lines of the other challenger bank offerings, with savings pots, budgeting features and the ability to tag and track transactions.

You can also deposit a cheque with your phone and it’s compatible with Apple Pay and Google Pay.

But there are plenty of features it doesn’t have, including some of the extras you’ll get with Starling and Monzo such as round-ups, PIN reveal or the ability to freeze your card.

Should you open a Virgin Money M Plus account?

Let’s start with the good things.

The 2.02% interest is decent as is the linked 1.71% account, especially if you’ve already had the Nationwide FlexDirect account for more than a year. You can’t beat it in an easy access account right now.

If you don’t have a Chase, Starling or Monzo account then it will also be useful for overseas spending.

Both of these make it a decent option, and the switching deal is worth considering. However, if you are going to switch bank I think there are other options you should consider first. In terms of bonuses, I’d go for one which pays cash. You can see the list of the latest ones here.

Then if you’re after a bank to help you budget I’d look at Starling or Monzo.

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How to switch to Virgin Money

As with other bank switches you’ll need to open a new account with Virgin Money and then use its website to detail which bank account from a different bank you are switching over. Virgin Money will carry out a credit check.

You will have to close this old account completely as part of the switch, but all your money and future payments in and out will be transferred over. This is guaranteed as part of the Current Account Switching Service. You can read more about how bank switching works here.

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August 31, 2022   |   Articles

Cheaper alternatives to Sky TV and Virgin Media

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How do you watch TV if you don’t pay for Sky? Here are the ways you can watch the same and new content elsewhere and save money.

My post on why it was time to ditch Sky and Virgin TV subscriptions is always really popular, and I’ve had lots of questions about the cheaper alternative ways to watch TV. So here’s a little more detail on your options.

You might think that by dropping Sky, Virgin and other pay TV services you’ll miss out on some of the channels you enjoy. Well, you can actually get most of them elsewhere – and for less money

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Image showing TV with Roku homescreen

Entertainment and film channels

First up, let’s cover the channels you might be watching right now via Sky or Virgin as you’re probably most concerned about these channels – from BBC One through to Sky Atlantic.

NOW Entertainment

This is the main way to get your core Sky channels for less. You get to pick and choose which elements you sign up for. So a monthly entertainment pass will cost £9.99 a month, while the Hayu reality TV pass is £4.99 a month.

I really only the Entertainment pass, but I never pay full price. In fact I’m often able to get passes for a fraction of the price.

Channels on the Entertainment Pass include Sky Max, Sky Atlantic, Sky Crime and Sky Comedy. You can also get UKTV channels such as Gold and all the box sets for those channels.

I’ve written in more detail about NOW TV here, including the ways to get it for less.

Now Sky Cinema

All the Sky Cinema channels are available on a separate pass from NOW. Passes also cost £9.99 a month, though as with the Entertainment pass there are deals to bring the price down which I’ll share on this page here.

Freeview and Freesat

Most channels you watch are probably free to air, which means even if you are watching them via Sky or cable they aren’t part of the monthly fee – and you can continue to watch them without paying a penny.

Freeview needs an external aerial and Freesat requires a satellite connection. As long as you’ve got one of these (and the box/TV to receive the signal) you’ll get free access to hundreds of channels including the most popular ones – BBC, ITV and Channel 4 – and favourites such as Dave and The Food Network. Here’s a full list.

You can still record these free channels with the right box. This box is £169.99 at the moment. Spread that cost over three years (though it’ll probably last longer) and it works out at £4.72 a month. I think it’s worth paying this vs sticking with Sky.

If you only have access to TV via the internet then Virgin Media, BT and Sky now (or soon will) offer cheaper devices that let you watch free channels – though you’ll still need broadband with those companies.

iPlayer, All 4, ITVX and My5

There’s an amazing back catalogue of free TV to watch on these services. Really, it’s huge.

Often you can watch programmes that are also on the likes of Netflix and Amazon, except on iPlayer and the others it won’t cost you a thing. You can also watch the channels live and download programmes to your phone for offline viewing.

Discovery+

Discovery+ is an option for some other channels you’d normally get on Sky such as Discovery, Animal Planet and TLC – though the likes of HGTV, Quest and Food Network are also on Freeview. It costs £3.99 a month to get access.

Sports channels

A big draw for people with Sky and BT is often the ability to watch sport, but you can get access to these channels on a monthly basis – and without the need for a long contract.

NOW Sky Sports

Once more NOW TV is your option to watch Sky’s sports channels, and you can get all the sports ones. The big difference here to the other NOW TV passes is this is live viewing only – there’s no on-demand.

Passes are available for the day (£14.99) and month (£34.99), while there’s also sometimes a mobile phone only option.

Again there are always deals to cut the price you pay, and we’ve got a special page devoted to NOW TV Sports Pass offers.

TNT Sports (formally BT Sport)

TNT Sports has a monthly pass at £30.99 a month. This means you don’t need to have any other service with BT or to sign up to a long contract – though you will have to cancel to stop the subscription rolling over to a new month.

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Other streaming services

These are the pay subscriptions that give you extra content you can’t get with Sky, Virgin or Freeview – and chances are you’ve already signed up for one or two.

Often these are extra costs on top, so signing up for these might be as well as some of the more direct Virgin and Sky replacements – though personally I’d always suggest you sign up as an alternative, then mix and match, rather than have them as well.

Netflix

There’s a lot of very good original and old TV on Netflix, as well as award-winning movies that appear here just weeks after the first cinema showings. It’s my top pick if you’re only going to get one service as there’s always something to watch.

It starts at £4.99 for the ‘Standard with ads’ option, though the most popular option is £10.99 which gives you HD quality and the ability for two people to watch on different devices at the same time. The top level £17.99 tier upgrades to Ultra HD and allows four simultaneous uses of the account. There are occasionally deals and discounts.

Amazon Prime Video

If you’re a frequent Amazon shopper then there’s a good chance you’ve got this. A full year at £95 which works out slightly cheaper than the standard £8.99 a month price.

If you don’t want the extra Amazon Prime features like free next day delivery you can get a video-only subscription for £5.99 a month. Don’t forget there’s a 30-day free trial for new customers.

There’s still decent exclusive TV and movies here so you’ll likely find something new.

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Apple TV+

There’s only new and original TV shows on Apple’s entry to the streaming service. It costs £8.99 a month, though there are often deals to get a few months for free – even if you’ve had the service before. In fact, since it launched, I’ve not paid a penny but had access for almost two years!

Disney+

Disney+ has three tiers to choose from. Standard with ads for £4.99 per month, Standard for £8.99 per month or £89.90 per year and Premium for £12.99 per month or £129.90 per year, though there are ways to pay less.

Big shows include new TV based around Star Wars and Marvel, as well as have a back catalogue of the MCU, Pixar and Disney movies and TV like the Simpsons and The Walking Dead.

The rest

There are so many other streaming services you could go for. I’ve shared the best deals here, but these include:

  • Britbox
  • Starzplay
  • Mubi
    Paramount+
  • BFI Player

My TV set up and savings

I haven’t had a TV subscription from the likes of Sky or Virgin since early 2014, but I’ve still been able to watch channels such as Sky Atlantic, Fox and Sky One (more on this below).

My total on NOW TV in the last year has been just £61. That’s about 10 months of entertainment and Boost, two of Cinema and four of sports. I’m not saying you’d be able to get these deals (or that I would again), but these have been some cracking savings.

I don’t have Apple TV+ right now but I’ve got a voucher for four months free which I’ll activate soon, on top of the free five months I had earlier in the year. I also managed to get a year’s free Prime Video and three months free Disney+ via O2. I’m about to cancel the latter and only pick it up occasionally.

My Freeview is via a six-year-old YouView box, which I got for free with a previous broadband contract from BT so I’m not paying anything there.

So this means I’ll likely have spent around £153 this year on a huge range of TV services. That’s just £12.75 a month on average. 

Compared to the basic TV Sky package that’s easily half of what I’d be paying, if not much, much more.

Working out which services are for you

Do a channel audit

Before making your choice about the services to pay for you need to do a channel audit.

Think about what you actually watch, and whether you’re actually bothered about those channels. Most people will be fine with Freeview the majority of the time, adding on one or two pay subscriptions to boost viewing options.

The TV Tapas method

Of course, there’s the chance that the more of the premium services you sign up for the less you’ll save vs the price you were paying for Sky.

And consider how much time you actually have for TV viewing. Realistically you won’t be able to fully take advantage of all the services at the same time.

I’d recommend a “tapas style” approach where you pick and mix over the year, rather than gorging all at once on more than you can possibly manage.

For example, you could get Netflix for a couple of months and binge the shows you want to watch there.

Once you’ve exhausted the shows, or fancy a change you can then switch to NOW TV for a month or so.

Then perhaps have a break where you focus on programmes you missed on iPlayer and then back to Netflix. Or any combination!

How to watch without a Sky or Virgin box

Most modern TVs are “smart TVs” and come with apps for many of these online services. But chances are it won’t have them all.

So you’ll need to invest in a relatively cheap streaming stick like an Amazon Fire Stick or Roku which plugs into an empty HDMI socket on your TV and connects wirelessly to the internet. You’ll usually need a power supply too.

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August 29, 2022   |   Articles

Money transfer credit cards – can they save you money?

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These cards move money from a credit card to a bank account and help you shift non-credit card debts to 0%.

You’re no doubt familiar with 0% purchase or balance transfer credit cards. These can be great options if you need to spread the cost of something really expensive over a few years or to help make it easier to clear card debts.

However, they’re not much help if you’re struggling with things like an overdraft or catalogue debt. The answer instead could be a money transfer credit card.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Money transfer credit card

What is a Money Transfer credit card?

Unlike a balance transfer card where the money is moved from one credit card to another, a money transfer card lets you transfer the cash into a bank account of your choice.

You pay a fee for this, typically between 3 and 5%. That means if you transfer £1,000 at 3.99%, you’ll pay £39.90 for the privilege. But compare that to the now typical rate of 39.99% you might get charged over a year in an overdraft, you’ll save £359.10.

It’s important you transfer the money to the account you choose and not just use a cash machine. You’ll only have a couple of months to do this.

As long as the card is also a 0% money transfer card you’ll then have a set amount of time to clear the debt from the credit card without any extra interest charges being added on top.

Why you shouldn’t transfer money on a standard credit card

If you aren’t using a specialised money transfer credit card you’ll get hit with all sorts of extra charges. That’s because withdrawing money on a credit card or using it as if it was cash to clear a debt will be regarded as something called a “cash advance”.

The only exception is with a specialist travel credit card like the Halifax Clarity card which allows you to withdraw money from a cash machine without extra fees when you are abroad (though you will be charged interest on a daily basis). And there are a few debit cards that’ll let you do this for free, which might be better options.

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Episodes every Tuesday.

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How money transfer cards can save you money

Obviously you can use the money for all sorts of spending and debt clearing, but I think these cards are most useful in the following situations.

Clearing your overdraft

So many people treat overdrafts very differently to other debts – they might not even think they’re borrowing money at all.

But changes in recent years mean most overdrafts start charging around 40% in interest, making it one of the more expensive debts available.

There are a handful of 0% overdrafts available, with Nationwide’s FlexDirect account offering that rate for just one year.

But if that’s not enough to cover your overdraft, or you can’t get it, then a money transfer card gives you the option to transfer in money and hopefully wipe out that overdraft.

You still have the same debt to clear but now it’s on a credit card and you’re not getting charged any interest.

Clearing catalogue debts

Many catalogue debts don’t even come from a catalogue anymore! Instead you’re getting credit to buy straight from a website. Places like Very and JD Williams.

These often start out at 0%, but hit hefty rates if you don’t clear the balance before the 0% period finishes.

It’s worth checking, but most of these services won’t let you clear your balance using a credit card. If that is the case it rules out using a 0% purchase credit card.

If you can use a credit card it does mean you’ll be able to clear the balance to a card without the transfer fee.

But if cards aren’t accepted the Money transfer card is a great alternative. even though you’ll be hit with the fee of 3 to 5%.

Can money transfer cards make you a profit?

The term “stoozing” is something I first heard from my time at Money Saving Expert and it’s essentially where you get the money from one of these transfer cards and put it in a savings account to earn interest.

In theory, this is a great hack for those good at keeping track (it’s similar to what I did with some of my student loans in the late 90s). You’re borrowing for free and making money on it.

However don’t forget there’s a transfer fee (usually between 3 and 5%). And even though interest rates on savings are improving, you’ll still struggle to find a rate better than what you’ll pay on the money transfer.

Realistically this is only going to work if interest rates on savings keep increasing. And even then you’ll need to work out what you’d earn to see if it’s worth the hassle.

What to bear in mind

The fee

Unlike 0% purchase cards and some 0% balance transfer cards, all money transfer cards come with a transfer fee. Factor this into the cost and potential savings you’ll make.

The 0% length

If the card is advertised as “up to” x number of months then you might be offered a card with a shorter interest-free period.

The size of the credit limit

There’s also no guarantee you’ll get a limit that’s the same size as your existing debt. You could look at more than one card in this situation, though bear in mind you will need to be credit checked (more on that in a bit).

The size of your debt

On the other hand if your debt is relatively small (perhaps you’ve been working hard to clear it), and at the lower end of overdraft or catalogue interest rates then that transfer fee might not be worth it.

For example, if there’s £200 left on your debt at 19%, and you know you can wipe it out in two months, you’ll pay just under £13 in interest. Meanwhile a card which charges 5% for a transfer will cost £10 in transfer fees. Yes a saving, but possibly not worth it.

How you apply

As with any credit card application, it’s really important you check eligibility first through something called a “soft check”. This will give you an idea of your chances of getting the card in question. More on this here.

How you’ll clear it

You’ll need to at least make minimum payments every month to avoid fees or losing the 0% offer.

Really this monthly amount should be higher than the minimum. You want to aim for the debt to be wiped during the time you’ve got 0%. So £1,000 over 18 months would be £56 a month.

And it’s even better if you pay off more, usually as much as you can each month, and clear it as fast as you can. I’ve written more here about ways to quickly clear credit card debt.

Alternatives

I mentioned above how a 0% purchase card is better for any big spending you’ve got coming up that you want to spread the cost of, but that’s not your only option.

If you have savings, use those to clear your overdraft, catalogue or other high-cost loans. This option is something many people overlook or are frightened to consider.

So unless you’re earning interest on those savings at a higher rate than the transfer fee, using savings will allow you to avoid the fee, making it a cheaper option.

And if there is an emergency that comes along later, you can look at a 0% purchase or transfer card to help you manage. 

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