A poll by comparison site Uswitch.com has revealed that people would be more willing to trust their current accounts with retailers including John Lewis, Waitrose, Asda,…
People are abandoning savings accounts with banks that are based overseas, opting instead to keep their money in British banks that are covered by the Financial Services Compensation Scheme.
The top rates of savings accounts have been slashed by banks up and down the high street since the government announced a cash injection of £80billion to start them lending again.
A report from the National Audit Office has revealed that those paying into a pension could potentially lose a fifth of the money they put in before they have even reached retirement.
With the high street banks offering record-low interest rates on savings accounts, many savers are looking for better returns from their money.