ME Bank named 2021 Money Minder of the Year
ME Bank has taken out the Money Minder award (bank) for a fourth year running - a testament to its long track record of offering simple savings products with great rates.
The pandemic has changed a lot, not least the way people manage their money.
"COVID-19 has accelerated the trend away from cash towards cards and digital payments," says Craig Ralston, ME's group executive, customer banking.
While holding cash in the bank won't provide much of a return these days, having an emergency fund is good financial practice.
"The pandemic has increased households' understanding of the importance of having a stash of savings for emergencies and I think we're seeing savings behaviour increase across the board," says Ralston.
"While alternatives such as the sharemarket can be appealing in the pursuit of higher potential returns, savings accounts like ME's term deposits and online accounts provide customers with security and confidence in receiving an ongoing capital return."
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