Remember, if something looks too good to be true, it probably is. Otherwise, there is probably a catch. This is the case with many banks and building society accounts, offered to the general public.
As interest rates are fairly low at the moment, customers are encouraged to save with a particular institution through incentives and higher interest rates. Many people see the headline rate and jump straight in, believing it to be the best. However, the reality can be very different.
Many institutions offer a high rate for a short period of time, which will then drop, possibly to a worse rate than the saver had before. There can also be problems with withdrawals and people being charged for them, without being aware. As always, before moving to something that looks a lot better, read the small print.