Savings: Savers suffer as savings accounts are withdrawn

Savers suffer as savings accounts are withdrawnNew research has shown that the misery for savers, already battling low interest rates and rising inflation, continues, as interest rates are cut further and savings accounts disappear at an alarming rate. Figures from Moneyfacts have shown that in November alone, 191 savings accounts were withdrawn from the market, over half of the total number for 2012 as a whole; whilst those accounts which have remained open have seen dramatic rate cuts. Funding for Lending Scheme to blame Moneyfacts ...

Consumers spend less than an hour researching into current accounts

Researching into switching current accounts is less than a 60 minute task for UK consumers. Consumers choose to spend less than an hour looking into current accounts. Over half of British consumers spend less than an hour searching for a current account and looking at their switching options, according to a Datamonitor report conducted on behalf of Santander. The research, called 'Switching in the UK', found that 51% of people spend more than an hour researching car insurance where as just 35% of consumers spend an hour looking into their current accounts.