Coventry BS pays 1.25 pc

SAVERS can now open an easy-access account paying 1.25 pc with Coventry BS through the Hargreaves Lansdown Active Savings platform.

Online platforms let you spread your money among providers, see accounts all in one place and switch easily to best deals. They usually offer mainly fixed-rate bonds. You get a choice of top-paying accounts from smaller banks and building societies.

Your money is covered by the Financial Services Compensation Scheme — up to £85,000 with each bank from the platform.

The big plus is there is no paperwork when you switch to a new account within the platform.