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PPI Claim: Non-web users unable to get bank's best deals

UK consumers who do not have access to the internet are missing out on the best deals offered by banks, it has been claimed.

Consumer magazine Which? has revealed that the average online saver earned around 37 per cent more interest a year than those who used branch-based accounts.

Furthermore, a typical instant access account available in-person paid just 0.56 per cent, while online accounts had an average of 1.14 per cent.

Peter Vicary-Smith, chief executive of Which?, said: "Not everyone is comfortable or able to manage their finances online and these people are missing out on the best deals as a result.

"Banks should be more inclusive by offering terminals in branches where customers could access online deals, with some help from staff."

Interest rates for online ISAs averaged 1.84 per cent, but branch-based ISAs paid just 1.53 per cent.

The British Bankers Association defended the policy of offering better deals to online customers, claiming efficiency savings could contribute to the

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt. ADNFCR-2776-ID-800084823-ADNFCR



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