Birmingham Midshires: Britons want quick cash access
People in the UK prefer to have quick and easy access to their money at all times, it has been claimed.
Research from Birmingham Midshires has found that over half (51 per cent) of 2,000 consumers surveyed who have opened news holdings chose instant access accounts.
Conversely, less than one in five (16 per cent) were prepared to keep their money under lock and key in an Individual Savings Account or similar, it added.
And Jason Robinson, director of savings operations for Birmingham Midshires, suggested that a short-term account may be of benefit to some consumers.
"It is worth considering a number of savings pots for different purposes which can nowadays be very easily managed online," he said.
Banks across the UK are currently under investigation from the Financial Services Agency over steep overdraft charges.
If financial institutions are forced to drop their costs, they may dispose of free banking accounts in order to recoup the amount lost.
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