UK Banks Lose £100bn as Savers Switch Online
Traditional banks in the UK have seen a staggering £100bn deposit exodus as customers switch to digital-first competitors offering better rates and convenience.
Traditional banks in the UK have seen a staggering £100bn deposit exodus as customers switch to digital-first competitors offering better rates and convenience.
As savings surge among Australians, banks are reducing deposit interest rates at a quicker pace than the Reserve Bank’s official cash rate adjustments, squeezing returns for savers.