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IVA Advice - instant access savers 'losing out' as banks target long-term savers. More and more people in the UK are in need of IVA Advice. Many cannot afford to pay!
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financialspreadbetting
Feb 19, 2010 @ 10:49 am | delete
- excellent information for IVA debt advice
great lens, thanks
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An Online Debt Advice site has warned that instant access savers are losing out as banks prioritise attracting business from savers with more money to invest.Sean Gardner, director of MoneyExpert.com, explained that banks struggling to borrow money need a fresh injection of cash and it is the security of long-term investments which will really improve their liquidity.
This policy will be bad news for people struggling with debt, for whom every penny counts. Mr Gardner said: "Instant access savings accounts aren't a priority at the moment which explains why a quarter have been withdrawn completely.
"You'd think more would be being done to reward customers who put their money into savings accounts."Research from moneyexpert.com has found that in the past year the number of instant access savings accounts has decreased by 23 per cent since January of last year.
The interest on instant savings accounts has also declined. At the start of the year the average AER on instant access accounts was 3.76 per cent; now it is just 1.45 per cent.
People needing debt help should approach specialist agencies.
http://www.lookuppage.com/users/theukinsolvencyhelpline
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