💬 'Too many people remain loyal to their high street bank' 🔎 Customers are missing out on hundreds of pounds in interest from their banks, new analysis reveals ⬇️ See the banks offering the lowest returns
Some of the best performing providers, meanwhile, may be names many consumers have not heard of before. For example, private bank Brown Shipley came top for one-year fixed savings accounts, averaging 2.71 per cent . It a;sp came third for instant-access savings, averaging 1.32 per cent.
The FCA’s new Consumer Duty will be introduced in July and will encourage firms to give better value to customers. Andrew Hagger of Moneycomms said: “Too many people remain loyal to their high street bank – in the past the interest benefit to be gained by switching to a new savings provider was minimal but since the surge in savings rates people are losing out big time by not moving their savings pot.
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