Normal savers now have the chance to bank like the super rich, as a cash tool used by the elite opens its doors to the less well-off.
Unlike most people, who take their money direct to banks, the mega-wealthy have access to savings platforms that not only make it easier to move their cash but offer them better rates.
The largest, Flagstone, has dropped its minimum deposit level by 80pc from £250,000 to £50,000 due to increased demand from those with smaller pots.
These hubs let customers save directly with any lender that has signed up, cutting out the hassle of opening individual accounts with each one.
I would suspect that the reason to drop the limit is that they’re not getting enough of the superrich – who can go direct without needing an intermediary – so therefore they’ll chase the would be.
But then it has occasionally been said that I’m a bit of a cynic.