Cashpoint

Yorkshire Building Society has joined with workplace benefits firm Salary Finance to provide a scheme where workers can save direct from their wages.

It is estimated 16.8 million working-age Brits have less than £100 in savings, according to the Money Advice Service.

A salary sacrifice scheme helps people save regularly and removes temptations to spend.

About 57% of variable rate savings accounts pay less than 0.5% and Yorkshire is offering an above average 0.75%.

But there’s nothing stopping you starting your own savings plan and getting an even better rate, while having the flexibility to move if you find a better deal.

The best easy access accounts are the AA’s 1.32%, Post Office Money’s 1.3% and Tesco Bank’s 1.2%.

Simply decide how much you can afford to save each month and set up a standing order for the cash to leave your account just after payday.

Andrew Hagger, of Moneycomms.co.uk, hailed Yorkshire Building Society’s savings initiative as “excellent”.