Half of Brits ignore their banks

A new poll by the UK’s leading discount website of more than 1,200 people in Britain has revealed that almost half of respondents ignore letters from the bank and 1 in 4 never open bank statements.
By: Shannon Haigh
 
Aug. 24, 2010 - PRLog -- Latest research by the UK’s leading discount and voucher codes website has revealed that 51% of respondents admit to ignoring letters sent to them from their bank, whilst 24% claim to never open their bank statements.
The study of 1,302 members of the British public was carried out by www.MyVoucherCodes.co.uk in order to discover opinions and habits surrounding letters and statements sent from the bank.
Of the 51% that claimed to ignore letters from their bank, 62% claimed that they thought the post would just be from the sales department, trying to influence their decisions to buy a product or service.
6% of the respondents that said they ignore letters from their bank claimed to not open the ‘majority’ of their post, no matter who had sent it.
Of the 24% that claimed to leave bank statements unopened, 42% feared what they would find and admitted they’d ‘rather not know’ the state their finances were in. 11% stated they ‘always knew’ how much was in their bank and 3% blamed their ignorance on their ‘lack of time’ to sit down and open them.
19% admit that they’d missed charges through not opening bank correspondence, with 4% saying that this had cost them more than £100 in total.
MyVoucherCodes.co.uk further questioned the respondents that said they ‘never’ ignored letters from the bank. Of these, 52% said that they would feel ‘anxious’ if they didn’t know what the letters contained and 6% said they thought people who don’t open post were ‘ignorant’.
1 in 10, 11%, of the total respondents said they hadn’t been into a bank in the last year. 47% of these said online banking was ‘all they needed’ whilst 9% claimed they were avoiding sales staff.
Farhad Farhadi, personal finance expert at http://www.MyVoucherCodes.co.uk, said;
“Attitudes towards finance and banking will always change over time, but I think it is quite alarming to see just how many ignore letters and statements from their bank. It’s clear that many would rather be left in the dark when it comes to their bank balance, but it’s always better to be on top of your finances and aware of your outgoings.
“Ignorance towards your bank balance can easily lead to becoming overdrawn, which subsequently results in charges on the account and this can make someone’s financial situation much worse. All letters from the bank should be opened immediately to avoid any problems occurring in the future. With the advent of internet banking, I suggest people that are tending not to open their statements sign up online – it could save them in the long run.”
LINK http://www.MyVoucherCodes.co.uk
ENDS
For more information, or to arrange interviews, please contact Shannon Haigh of 10 Yetis PR Agency on 01452 348211 or email shannon@10yetis.co.uk  
Editors notes

Mark Pearson, MD of MyVoucherCodes is a regular media contributor regarding online shopping and the credit crunch. At 29, his personal worth is more than £30 million. Mark was previously a trainee chef working for Gordon Ramsay at Claridges, London.

http://www.MyVoucherCodes.co.uk has had sales exceeding £481m in the last year

Consumer savings on online shopping via MyVoucherCodes.co.uk up from £28m in 2008 to £52m in 2009.

MyVoucherCodes is the UKs most popular discount site.
End
Source:Shannon Haigh
Email:***@10yetis.co.uk Email Verified
Tags:Myvouchercodes Co Uk, Banks, Letters, Statements, Discount, Code, 10 Yetis, Pr Agency
Industry:Accounting, Banking, Consumer
Location:England
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