FOR IMMEDIATE RELEASE
London, UK, 27th September, 2010: UK consumers who do not have access to the internet are missing out on the best deals offered by banks, it has been claimed.
Consumer magazine Which? has revealed that the average online saver earned around 37 per cent more interest a year than those who used branch-based accounts.
Furthermore, a typical instant access account available in-person paid just 0.56 per cent, while online accounts had an average of 1.14 per cent.
Peter Vicary-Smith, chief executive of Which? said: “Not everyone is comfortable or able to manage their finances online and these people are missing out on the best deals as a result.
“Banks should be more inclusive by offering terminals in branches where customers could access online deals, with some help from staff.”
Interest rates for online ISAs averaged 1.84 per cent, but branch-based ISAs paid just 1.53 per cent.
The British Bankers Association defended the policy of offering better deals to online customers, claiming efficiency savings could contribute to the economy.
“People who don’t use their bank accounts online don’t get the best deals from the banks compared to the online users who stand to gain more” says financial analyst Charles Baker who has decades of experience in the financial industry. He works as a financial analyst for PPI Claim Company.co.uk.
“There are bank customers who aren’t comfortable with online banking and thus avoid using it. These people are missing out on the best deals from the banks due to this. Banks need to be more inclusive and offer assistance to their customers who aren’t tech savvy”
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Suite 2, Unit 25
The Coda Center
Street: Munster Road
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E-mail: [email protected]
Website: http://www.ppiclaimcompany.co.uk
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