Business Services Industry
Research shows customers of big British banks are hesitant to change accounts.
Knight Ridder/Tribune Business News, October, 2004
By Helen Loveless, Financial Mail on Sunday, London Knight Ridder/Tribune Business News
Oct. 17--Of course you know the interest rate you earn on your current account . . . don't you? Well, probably not, according to new research.
Not only that, most of us are receiving a paltry rate because we bank with the big four High Street giants and cannot be bothered to switch accounts.
Incredibly, the average rate of interest paid on current accounts in credit is just over 0.1 per cent before tax, but millions of people do not know how little their money earns, while more than a third overestimate the rate they earn, according to Alliance & Leicester bank.
Seven out of ten bank account holders have current accounts with the big four...
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