Consumers still feel cheated by financial adverts even though regulations are in place to ensure fair advertising practices, says Moneyfacts.co.uk.
The financial comparisons website says over half of customers feel they have been "misled" by an advert offering a generous interest rate while 16 per cent have made a complaint about a financial services company.
"With attractive rates on savings products, it can often be the case that there are certain terms and conditions attached," said Emma Butler, editor of Moneyfacts.co.uk.
"These include things such as having to hold your current account with the same provider or that the rate only applies for an introductory term."
Independent research by Moneyfacts.co.uk shows 60 per cent of adverts reviewed did not match up to the credit advertising rules introduced by the Office of Fair Trading (OFT) in October last year.
Moneyfacts.co.uk recommends checking the small print on adverts that seem too good to be true.To read more about Banking News, click here.
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