Moneyexpert.com comment on the current account market
Moneyexpert.com comment on the launch of the new Santander £100 cashback, 5% offer current account and the current account market Pierre Williams, Head of Research at www.moneyexpert.com comments on the current account market: “Santander’s current account offer is certainly a best buy with its headline-grabbing and market-leading five per cent credit interest rate. The additional £100 incentive for customers is a great extra bonus too. "If you are looking to switch current accounts it really is a no-brainer as with the interest rate and cash incentive it means new customers can pocket up to £225 in the process." Unlike many other financial products like credit cards or utilities, there is a general reluctance among consumers to switch current accounts. Research published last week by Co-Operative Financial Services found that as a nation we are more likely to switch allegiance of our football team than our current accounts.* Continues Williams: “Customers should not put up with poor interest rates and bad customer service when it comes to current accounts, as switching accounts these days is easy with processes in place to ensure that all direct debits and standing orders are transferred too, making the process relatively pain-free. “Depending on your circumstances, certain current accounts will be better for your individual needs. For example if you require a regular overdraft facility, a high in-credit interest rate may not be the best option for you. We urge anyone not happy with their bank account to shop around and compare current account rates online as there are plenty of attractive offers available.” Notes: *Research conducted by 72 point questioning 3,000 respondents across the UK in June 2010 by The Co-operative Financial Services. For more information contact Dale Lovell on 01753 859 588 / 0779 1414 681 or email: dlovell@searchnewsmedia.co.uk. www.searchnewsmedia.co.uk About Moneyexpert.com: MoneyExpert has been helping people find the best finance deal for over 20 years. We're proud of the impartial service we offer. We allow you to compare all products in the marketplace at the click of a mouse to help you find what's best for your money. Every month we help hundreds of thousands of people to find the right product for them. Please feel free to talk to us or get in touch via our website - we're always eager to help. www.moneyexpert.com
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