Common mistakes include comparing the headline rate without checking the AER, bonus period, minimum balance and withdrawal restrictions. Some accounts pay a high rate only for a limited time, so diarise when the bonus ends and review the account afterwards. Check whether the interest could exceed your Personal Savings Allowance, particularly if you are a higher-rate taxpayer, and keep within the £85,000 FSCS protection limit per authorised banking group where applicable. Read the provider’s terms and check its FCA register entry before applying.