Aldermore MD comments on FCA market study into UK savings market

POSTED: 10th September 2013
IN: Newsroom

Commenting on the launch of the FCA's market study into the UK's cash savings market, Simon Healy, MD for Savings Aldermore Bank said:

"This review is long overdue. For years, savers have been manipulated by many financial institutions who lure savers into high-paying accounts through advertisements or best buy tables only to slash the rates at a later date; very often it is only the most astute savers who notice.

"For most people with busy lives, keeping tabs on their savings rates has become frankly too much like hard work and they are paying the price with millions of pounds in lost interest every year.

"Aldermore has never offered a savings account that has come with a bonus and so if this review helps end this long-standing abuse of savers it will be a triumph."


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