Bank of Scotland urges people to use savings accounts as much as they can

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Bank of Scotland urges people to use savings accounts as much as they can

Brits should put aside whatever they can in order to get into the habit of saving, a Bank of Scotland source has suggested.

Head of savings products at the firm Flavia Palacios Umana noted that many individuals may feel like they have not got a penny to spare.

However, she pointed out that depositing a little cash regularly can help people build up their savings and afford "something special".

"While reducing outgoings or consolidating debt is a priority for many, getting in to the savings habit is really important," Ms Palacios Umana remarked.

The Bank of Scotland spokesperson pointed out that many accounts need only £1 in them to begin with.

Her comments were made after research by the company showed more men than women in Scotland are putting money aside for the future.

Recently, a Gocompare.com representative pointed out that people will often use savings accounts to build up an emergency fund, rather than using them solely to gain a significant return on their cash.

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