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Brits 'not seeking better savings deals'
The majority of consumers in the UK are failing to search for improved current account deals, according to new figures.
Research from Santander has revealed that 70 per cent of people – which equates to over 34 million – have not switched to another provider in the past ten years.
Nearly three-quarters of Brits also said they have no plans to review their current accounts in the near future, despite switching potentially providing them with £125 in interest within the first year as well as a free overdraft.
Helen Bierton, head of current accounts at Santander, said it is vital for people to look for the best deals and ensure they make their money stretch as far as possible.
She added: "Whereas many people see how much they can save by switching their insurance for example, people don't see the benefits of switching current account."
Ray Boulger, senior technical manager at mortgage adviser John Charcol, recently suggested that people across the UK could benefit from taking more notice of the deals they agree in relation to financial products.