Consumers need to do a ’shopping list’ before choosing a bank account

March 1, 2008 by admin  
Filed under News, News-Banking

Consumers need to create a “shopping list” to help them choose a bank account which suits them best, one financial expert has claimed.

The British Bankers Association (BBA) recommends that spenders need to look beyond the headline rate when examining the pros and cons of various bank accounts to ensure that they are aware of any conditions or limitations that apply.

Brain Capon, a spokesperson for the BBA, said: “When opening any account, regardless of who it is with – a British bank or a bank that is based abroad, you need to really decide what it is that you want from that bank overall.”

He added that the fact increasing numbers of banks from abroad are offering accounts in the UK is a good thing as competition between providers can enable consumers to get better deals.

According to the latest figures released for Britain’s high street banks, personal deposits have shown stronger growth than past months. The figures, from January 2008, show that the net change was up by £2.9 billion.

Tags: Financial services, street, spenders, Deposit account, consumers, high street banks, Bachelor of Business Administration, finance

Related Entries

  • Consumers need to budget more as the cost of living increases
  • As the cost of living increases consumers need to be more aware of ways to budget to make their cash go further, one financial expert has advised. Because of this Norwich and Peterborough Building Society
  • Bank account options for consumers
  • Although the banking industry in the UK has taken quite a bit of flack over recent years the various High Street banks do offer plenty of choice when it comes to bank accounts to suit
  • Exercising safety when shopping online
  • Most of us these days have done some form of shopping online, whether it is shopping for groceries and household goods or whether it is buying gifts, entertainment, clothes, and even holidays. Shopping online has
  • Credit card users ‘want online services’
  • Most credit card users want the option of managing their account online, although it is not a key consideration when choosing a credit card.Eighty per cent of respondents in a survey conducted by consumer research
  • Choose the right bank account for your needs
  • These days there are a number of bank account available for consumers to choose from based on their needs and circumstances, and it is important that you choose the right bank account so that you
  • Are premium bank accounts worth the cost?
  • Banking in the UK has come a long way over the years, and these days consumers in the UK can enjoy a choice of bank accounts offering a range of perks. In the past the
  • Be savvy when you shop online
  • These days a rising number of people are doing their shopping online, with many different people purchasing their groceries and household goods via the Internet. With so many shoppers trying to cope with various other
  • Joint accounts driving wedge between couples
  • Almost a quarter of people who share a joint bank account with their partner suspect that their other half is using it to make selfish purchases.Research by Abbey shows that 24 per cent of joint

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!