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Mr Lewis listed Cynergy Bank’s easy access saver as third on his list, as it offers “20p per £1,000 less interest” than Shawbrook Bank’s.

Moving on to discuss household name banks, he said: “You’ve got Sainsbury’s Bank offering 2.87 percent and it only allows three penalty-free withdrawals a year and if you want the high street name, Nationwide is offering 2.5 percent.”

Addressing the “slightly different” savings accounts, Mr Lewis said Chip has a higher rate, but it isn’t in interest.

He explained: “Chip pays you a three percent bonus. The savings you have with it is protected under the £85,000 savings safety, but the bonus isn’t. They’re going to change this in the middle of February and it’ll look more competitive then.”