Consumers lack clarity on bank accounts

10 August 2005
People are not putting enough thought into choosing a bank account, meaning they are often left with one that doesn’t suit their situation.

In fact, the average Brit is likely to spend more time choosing a pair of jeans than they are shopping for the best bank account, according to a survey conducted by Which?

Whilst 40 per cent of those questioned admitted spending 1 to 3 hours clothes shopping, lest than a third said they had dedicated as much time to considering their bank account.

To encourage people to think more carefully about their finances, Which? has announced the launch of a new quiz on its Moneytalk website.

“We hope people will log on to Moneytalk to find out and get useful hints and tips from Which? about how to make the most of their money,” says Louise Hanson, head of campaigns.

The website will provide people with straightforward advice on how to handle their finances.

To read more about banking, click here.

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