Halifax: Savings Accounts prove popular this Christmas

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Halifax: Savings Accounts prove popular this Christmas

Wed 17th Dec 2008

Halifax have released research which shows that many Brits will make contributions to savings accounts or give money rather than buying presents this Christmas.

More than one-third of those surveyed said they would be giving cash or opening a savings account into which their monetary present could be deposited.

Halifax found that 36 per cent of people would be opening a child savings account and giving a child a gift which benefits them long-term rather than the traditional toy.

Ken Stannard, head of Halifax savings, said: "Our research shows that a large number of people like to receive money at Christmas time. By involving children in this process it can build healthy saving habits that will play an important part in their future."

Family Investments conducted a survey recently which showed that more than half of parents would prefer grandparents to make a contribution to their children's savings accounts instead of giving conventional gifts.

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