Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank charges: Banks 'experts at exploiting the inertia of consumers'

Banks have become experts in encouraging and exploiting customers who do not seek out better deals for their savings.

Such is the opinion of Jason Riddle, co-founder of Save Our Savers, who claims that banks are not interested enough in their customer's savings to pay a rate above inflation.

He believes that some banks and building societies are failing to inform their customers when the rate on their savings changes.

He said: "Whether you call it customer loyalty or consumer apathy, banks are expert at encouraging and exploiting the inertia of consumers who do not actively search out the best deals for their savings.

"Save Our Savers is calling for all banks and building societies to 'state the rate' the saver is receiving whenever they communicate with a saver."

According to a report by Which?, 87 per cent of savings accounts that were available six years ago are now paying interest of 0.5 per cent or less.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide