Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank charges: Brits raid savings in the run-up to Christmas

Brits have been raiding their savings accounts in the months running up to the festive Christmas, according to a new report.

Halifax Savings found that in the three months to the end of November, people have headed to their savings to take out an average of £1,186 to pay for surprise costs and bills.

At the same time, consumers have only been able to save £555, which is less than half the average spent.

To stop themselves from raiding their savings too much, 72 per cent of Brits try to set a buffer limit, which they aim to keep their savings above, while 34 per cent try to cut back on other costs.

However, a quarter (27 per cent) do not even try to stop themselves from venturing into their savings, which could mean they struggle to afford bank charges and other costs further down the line.

"At this time of year people often use their savings to buy gifts so taking simple steps, such as having different savings accounts for different purposes, can be an effective way to stop hard-earned savings being spent on things they aren't intended for," said Richard Fearon, head of Halifax Savings.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801507581-ADNFCR

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