Savers face wider gap between closed and live easy access account rates, with 0.66% difference in October 2023 revealed by Moneyfacts.
Savers are being "short-changed" on closed easy access accounts, with Moneyfactscompare.co.uk revealing that the difference between closed rates (0.08% in July 2022) and live rates (0.31% in July 2024) has widened. The largest gap was 0.66% in October 2023. The Consumer Duty rules come into effect this month, addressing the issue of closed financial products.
July 15, 2024
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