FCA to carry out market study into cash savings - study is part of programme to look at competition across financial services markets - Financial Conduct Authority
The FCA are probing savings accounts such as ones that offer an incentive to open one and how competitive those rates are. There are still a low percentage of people switching products which might indicate either that people may not understand that their saving product "introductory rate" has expired or may be reluctant to move their savings to a bank that they are not familiar with.
Should be interesting to see what they find out.
The FCA are probing savings accounts such as ones that offer an incentive to open one and how competitive those rates are. There are still a low percentage of people switching products which might indicate either that people may not understand that their saving product "introductory rate" has expired or may be reluctant to move their savings to a bank that they are not familiar with.
Should be interesting to see what they find out.