Commenting on the new measures for cash savings proposed today by the FCA, Nicolas Frankcom, money expert at Uswitch.com, says: “Today’s proposals are welcome news for savers, who for too long, have been left in the dark about the best rates. After being lured in with an eye-catching introductory high interest offer, many ‘sleep walk’ into a much lower interest rate. The proposals to alert people when their introductory rates are running out, together with a faster seven-day switching service, should encourage savers to check their deal and vote with their feet if they are unhappy.
“However, these measures aren’t set in stone, and even if they turn out to be more than pie in the sky, consumers still have to wait until next year to benefit. In the meantime, it’s vital savers make a note of when any introductory offer runs out to ensure they are getting the most from their money.”
FOR MORE INFORMATION
Katherine Moss
Phone: 020 3021 5893
Email: katherine.moss@uswitch.com
Twitter: @uswitchPR
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