You are here: Home - Saving & Banking - News -

Apathy can loose consumers over £1,000

0
Written by:
22/02/2006

The big four banks are profiting from consumer inertia, meaning consumers should shop around rather than keeping all their financial eggs in one basket.

Recent research by Moneysupermarket.com has shown consumers could save up to £1,134 by spreading their finances around the best deals in the market. As Barclays Bank has recently announced profits of £5.28bn and other big banks are anticipated to announce similar figures, the price comparison site has called for consumers to make a profit of their own.

Stuart Glendinning, director of Moneysupermarket.com, said: “Apathy costs consumers dear and this is what the big banks rely on to keep their profits fuelled. The old adage that the high street equates to convenience and good value is increasingly becoming a myth as more consumers become savvy in their attitudes to finance and recognise the importance of shopping around and using the Internet for securing the best deals.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Get on the right track

Investors in trackers have been warned against over-exposing themselves to specific stock risk in oil, pharmaceuticals, banks and commodities.

Close