Making your cash work harder
Many of you will be wondering how so much could be left untouched. And it seems that a significant proportion of those with zombie accounts aren’t aware their money could be working harder elsewhere. Over half of respondents (56%) didn’t know if their bank had cut interest rates in the past year, and 58% didn’t know the current interest rate on they were benefiting from. So many of you could potentially be getting a better deal in another current account, or even in another type such as ISAs or other savings accounts, and don’t even know it.
When asked why they had more than one current account, one in five people admitted they’d opened an account a long time ago and just hadn’t got round to closing it. So what’s the big deal?