Consumers 'do not trust' their banks

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Consumers 'do not trust' their banks

British consumers do not trust their banks to treat them fairly, research by money.co.uk has found.

Only seven per cent of the people questioned said they believed their institution would treat them fairly.

Meanwhile, 25 per cent of respondents stated that they did not trust their bank at all.

But with 15 per cent feeling that banks do not apply fees fairly for unauthorised charges, only the same percentage of people think changing their bank would make any difference to how charges are applied to their accounts.

Chris Morling, managing director, money.co.uk said: "Based on these findings, I believe the banks have much work to do if they are to win back our trust - particularly when it comes to individual treatment and 'fair play'."

The price comparison site estimated before Christmas that 71 per cent of British adults paid for their celebrations using money they had available at the time, rather than spreading the cost throughout the coming year.

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