Consumers 'should be on the lookout' for better bank accounts

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Consumers 'should be on the lookout' for better bank accounts

Fri 29th Feb 2008

Banking customers have been advised to always be on the lookout for a better financial product.

British Bankers' Association (BBA) spokesperson Brian Capon said it is important that people keep their eyes open for good savings and other financial deals.

He said: "Bear in mind that it is unlikely that one bank will be the leader in all products all of the time, so just keep your eye on that."

Mr Capon also suggested that consumers would find it easy to move bank accounts and that a great deal of people will open a new account.

Those looking around for interest rates should approach this as "an ongoing exercise", he added.

The BBA spokesperson concluded: "Nowadays, people have a much more sophisticated approach to their finances and a lot of people will look around for the best rates and savings."

BBA figures show over 125 million accounts are provided by the main retail banks in the country.

They facilitate 2.3 billion cash withdrawals annually through their 30,000 free ATMs.

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