Monetising savings by beating the banks
Persistent inflation and the low interest on bank deposits have led to a general impoverishment of families who are seeing their savings disappear. Is there any way to ensure our purchasing power in the short term? How can we make monetise our savings? Isaac Sène, Product Manager, explains how with Litigation Funding, which 11Onze Recommends.
Inflation has pushed up household indebtedness and eaten into savings. During the first two months of this year, families have withdrawn 18 billion euros in deposits from banks to cover expenses or to try to improve the profitability of their money. While the banking sector is profiting handsomely from the ECB’s interest rate hike, it is barely remunerating its customers’ savings.
According to the latest CPI data, prices have moderated year-on-year, but inflation is accumulating, so this does not mean that prices have fallen, but rather that they have risen less than a year ago, i.e. inflation is moderating, but we are still paying more. Faced with this bleak outlook, 11Onze Recommends presented Litigation Funding to our community a few days ago, a product that prevents your money from being devalued by inflation.
Earn money from the banks and seek justice
Litigation Funding is a product designed so that you can earn money by participating in legal cases against the abuses of big banks. In this context, UK banks are facing claims of more than 60 billion euros that have been set aside to cover compensation for malpractice, “UK banks are being forced to account for malpractice against a number of customers,” notes Isaac Sène.
These claims against UK banks have a success rate of over 90%, but the law firms that handle them need funds to finance the litigation. Litigation Funding takes advantage of the fact that in the UK, if a number of conditions are met, these cases will be won. This can offer the possibility of returns of up to 27% with very little risk because the capital invested to pursue these cases is insured by an independent insurer. As Sène explains, “every investment has a risk, but in this case, 90% of the cases have been won, and the insurer covers the capital, giving our clients peace of mind”.
Fund lawsuits against banks, seek justice and get returns on your savings above inflation thanks to the compensation that banks will have to pay. You can find all the information about Litigation Funding at 11Onze Recommends.