Alliance & Leicester Savings: Brits use internet to search for savings accounts

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Alliance & Leicester Savings: Brits use internet to search for savings accounts

Tue 9th Dec 2008

Brits are increasingly using the internet to make important financial decisions such as which savings account to use, according to a survey published today by Alliance & Leicester.

The bank found that 48 per cent of Brits say the internet is their favourite source of savings account information, a proportion which increases to 56 per cent among the younger generation.

Alliance & Leicester Savings also found that nearly one in three Brits are cutting back on their spending and trying to save more as a result of the credit crunch.

Hetal Parmar, manager for savings at Alliance & Leicester, said: "Our research also shows that people are trying to become more financially astute and many are doing it for themselves by researching online, perhaps driven by the convenience and choice the internet offers."

Nationwide recently published a study which showed that the proportion of people saving has risen in recent months.

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