Current account value

Story link: Current account value

I wouldn’t be surprised if we see a massive decrease in savings. Most people only used to leave small amounts in the bank to try and gain a little bit of interest, but at the current rate of interest, is there any point?

Current account value

Consumers with current accounts are finding themselves trapped between lowering in-credit interest rates and rising charges for going overdrawn, according to a price comparison website.

Research by moneysupermarket.com revealed that high street banks have cut interest rates on their current accounts by an average of 1.29 per cent but at the same time have raised the rate of interest charged on overdrafts by an average of 1.1 per cent.