Spanish-owned Santander really shook up the banking world this summer by offering to pay people £100 simply to switch their current account from their existing bank to Santander. What a simple way to, literally, buy market share. Most people are surprisingly conservative when it comes to moving their money around so it looks like this might be a big enough push to make many people change.
However (there had to be one didn't there!) it turns out that while Santander is good for paying interest on current accounts its record on customer service is less spectacular. According to the consumer watchdog Which? the bank scored less than 50% in a survey of customer service in the banking sector, compared with a mighty 89% satisfaction rating for First Direct.
With interest rates remaining low and inflation creeping upwards it seems that for high tax earners at least, there are even fewer safe havens to protect the value of their money. Its getting to the point where you might as well do the same as granny used to do and simply keep the money under the bed.
0 comments:
Post a Comment