Britain’s Savers Keep Cash in Sight

Oct. 29, 2009 - PRLog -- People in the UK have developed a distinct lack of trust in overseas banks, according to the results of a new survey carried out by money-saving website MagicFreebiesUK.co.uk.

74% of the 5000 people questioned declared that they would never place their savings in an overseas bank, having lost confidence through the collapse of leading overseas investment and savings banks Lehman Brothers, Kaupthing and Icesave.

Tom Bryant, founder of MagicFreebiesUK said: “With so many top banks struggling at the moment, the public’s confidence in the industry has been seriously damaged. People are looking to hold onto their cash, keeping it where they can see it, despite the fact that some overseas banks can offer a much better return on investment.”

The survey also revealed that people are still making regular savings, with almost 70% of those questioned putting away up to £200 a month in either a UK savings account, a current account or a piggy bank at home.

MagicFreebiesUK.co.uk features a host of money-saving ideas for the UK consumer including the latest free samples, offers and discounts as well as money making ideas and advice on how to make savings on household bills. For more information visit www.magicfreebiesuk.co.uk.

Survey statistics
-   Total number of surveys issued via email – 100,000
-   Total number of respondents – 5309

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