Wednesday, September 26, 2007

Take with one hand pay chicken feed with other

Two out of five current accounts pay just 0.1 per cent interest to customers in the black

Nearly two out of five current accounts on the market pay just 0.1 per cent to customers in the black, new research from MoneyExpert.com shows. And another nine per cent pay one per cent or less, analysis from the independent personal finance comparison service shows...

Posted by converted lurker @ 11:44 AM (508 views)
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One thought on “Take with one hand pay chicken feed with other

  • I guess I’m not going to be popular for saying this, but I’m not too worried by banks not paying much (if any) interest on current accounts. I lived abroad for a while and the only way you got free banking was by keeping the equivalent of over £330 in local currency in your account, and obtaining a mini statement at least every 3 weeks. (There was some law that stated the banks had to send you a statement every 3 weeks, so if you didn’t want the expense of being charged for postage etc, you got yourself a mini statement from the cash machine instead).

    I would be quite happy with no interest but otherwise free current account banking and a more than decent rate of interest on my savings.

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