Just half bank customers use perks of paid-for accounts

clock

Just half of people who pay to use banks' current accounts because of the perks offered ever make use of the add ons, a poll has suggested.

A MoneySupermarket.com survey of 4,613 people found only 52% people who pay for their bank accounts use perks such as free currency exchange, deals on loans and mortgages, home, travel, breakdown and mobile insurance and discounts on leisure activities. The survey results said 13% of those using packaged accounts were unsure or unaware of the benefits the accounts came with, and a third only ever used their overdraft facility. Kevin Mountford, head of banking at MoneySupermarket.com said: "It is worrying to see many consumers don't know what they are paying for. "We have seen a num...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on TCF

TCF

Chris Davies: Are you still treating customers fairly?

Build a constructive culture

Chris Davies
clock 14 May 2018 • 4 min read
TCF

IFA submits portfolios for independent verification; gets top marks

An independent advisory business is set to submit its investment portfolios for regular scrutiny after independent tests were carried out on a trio of live client cases.

Scott Sinclair
clock 04 August 2015 •
TCF

Why client-centric TCF culture should be at the heart of every advice firm

Why client-centric TCF culture should be at the heart of every firm

Jon Everill
clock 06 May 2015 •