Supermarkets 'offer banking choice'

13 August 2007
Supermarkets can offer more choice than high street banks when it comes to financial services, it has been claimed.

According to research from M&S Money, they are often more convenient for consumers as they are already there to do their shopping.

Spokesperson Liz Neild added that the longer opening times supermarkets have also offers further incentives for people to use them - especially if they need to pick up last minute holiday money or travel insurance.

"It is probably something they wouldn't go shopping to look for but while they are shopping they might think 'that's a good idea'. Then they don't have to make a separate trip to the bank," she said.

In a recent Motley Fool survey, M&S Money came second among consumers' favourite travel money provider after Travelex.

The firm does not charge people commission on their cash and gives a Euro exchange rate of 1.4280.

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