I earn a much better rate of interest and I also avoid queues in the branch. It was easy to switch,' says Michael. Many groups say most people are in low-paying savings accounts out of choice. Many say they send out regular letters and leaflets giving details of better accounts. They also tackle customers in the branches, suggesting they move their money.
Some customers prefer the oldfashioned passbook-style account.
In truth, most people stick with these accounts because they want High Street access to their money but do not believe there is an alternative to the paltry rates on offer. In fact, there are better deals but savers need to be fleet of foot to find them. CARD accounts - give instant access through cash machines. MAKE fewer withdrawals - some accounts offer better rates in return for restricting the number of withdrawals. Associated New Media Ltd. All rights reserved.