Pineman 100 "What matters is protecting your cash as best you can from inflation." Apart from the (recently lapsed) National Savings scheme which tracked inflation, I do not know any bank or building society that even matches inflation - currently at around 5%. In all of them savings lose money! The alternative is risk in share type investment. I agree you need to try to lose as little as possible..
john bunyan - you are of course quite correct. I don't know of any instant/unlimited access deposit accounts that currently pay the rate of inflation. But if you're prepared to move your money around once a year you can do a lot better than leaving it an account for years. Most savings accounts over a year old are currently getting around half of one per cent.