Deposit and Savings Accounts - UK - April 2015
“Although most savers say they are prepared to switch savings provider to receive a better rate, less than a third actually did so in the last year or so. With interest rates so low across the board, the cash benefit of switching accounts is usually marginal for all but the heaviest savers.”
– Chryso Kolakkides, Senior Financial Services Analyst
This report covers the following issues:
- PFM apps have growth potential in the UK
- Low switching in the savings market gives banks the opportunity to compete on non-price factors
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