Money Saving Expert Martin Lewis has issued an urgent warning to anybody with a UK bank account - and he says people only have a week to act.
Appearing on ITV's The Martin Lewis Show, the finance expert told customers who are M&S Bank customers to urgently apply for its 2.75% regular saver account as it will be closing on November 13.
He has also advised people with HSBC and First Direct accounts to act before it's too late.
According to Birmingham Live, the finance expert said customers should "apply now" and if they were to get the account now, it would lock in that rate for a whole year.
Martin told Money Saving Expert: "If you’ve got an M&S bank account and you have savings, then open its account now. This is an unbeatable rate of interest on the open market currently. As long as you can put £25 a month in, it's worth it. And if you open it now then the account lasts the whole year.
"While the parent company has said that M&S's sister brands HSBC and First Direct will not be closing their regular savers, in my head I hear a 'now' after that. In the past when one has moved rates, a few weeks later the others have followed. So for safety's sake, if you're a saver with those banks and haven't opened their regular saver, I'd get your skates on."
