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Ep - 35 Don't be robbed by your bank
Manage episode 359473325 series 3426902
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Both savers and borrowers are getting a rough deal from banks who are making monster profits for their shareholders and their executives.
It is time that we all check our bank accounts to see if we are among the millions of customers who are getting little or no interest on their savings while NatWest has reported that it made 14 times more from its savers last year than it did in 2021. Its net revenue on savings was £1.09 billion.
Last summer the Bank of England reported that there was £280 billion in accounts paying no interest.
It is estimated that savers could be missing out on over £350 a year on savings of £10,000.
It is time to try to clear debt and to make sure your bank does not rob you by paying a criminal rate of interest. Do not let your accounts become dormant or to be closed without warning.
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