JEFF PRESTRIDGE: As rates rise, banks raking in fat profits
Banks like Santander are taking advantage of the fact that most customers will not jump ship because no-one is offering better rates.
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Banks like Santander are taking advantage of the fact that most customers will not jump ship because no-one is offering better rates.
It means millions of bank savers continue to receive a derisory 0.01 per cent of annual interest on their money in instant access savings accounts and cash Isas - 10p for every £1,000 saved.
It means millions of bank savers continue to receive a derisory 0.01 per cent of annual interest on their money in instant access savings accounts and cash Isas - 10p for every £1,000 saved.
Savers have a huge £967.4bn in easy access accounts and the big banks paying a pittance hold around two-thirds of the balances.
Savers have a huge £967.4bn in easy access accounts and the big banks paying a pittance hold around two-thirds of the balances.