Saturday, November 27, 2010

Bankers getting desperate for our savings?


Despite three-quarters of consumers worrying about their finances, nearly the same number have not changed their saving or spending habits. Richard Brown, head of savings at HSBC, said: “This demonstrates a worrying lack of preparation. “It is of utmost importance that people are setting aside money for emergencies but only a minority have altered their habits. This suggests people may have their heads in the sand and do not realise the need to change.” Comments says it all.

Posted by waitingtobuy @ 10:54 PM (1108 views)
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2 thoughts on “Bankers getting desperate for our savings?

  • Heads In The Sand JOY …

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  • Amazing comment by Richard Brown. Has he looked recently at HSBC’s savings rates? They offer some of the most pitiful in the market. For example their Flexible Saver Standard Rates offering a truly miserable 0.05% AER. Yes, that is a zero after the decimal point.

    I have banked with them for over 30 years and recently had a very substantial chunk of money moved into their account. The best they could offer was a chat with one of their investment advisers (Yeah right!). Frankly I have made much better returns over the years than any bank account or so called investment expert. Steer well clear of these people.

    I’m sure he’d like us to put more away into HSBC – good laugh

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