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Easy access accounts not so easy

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by Kay Mitchell

Easy Access Accounts are renowned for having immediate access to your money without notice or penalty but according to new research by Abby Savings, easy access accounts might not be as simple as banks claim.

20% of ISA accounts can only be accessed in one way. Nearly half of accounts provided two ways of people getting to their money, a figure which many not be considered easy access.

In addition, Abbey said that 51% of bank accounts provided people with an online route to their money, while 49% allowed access via post. A spokesperson for Abbey commented that the account has to offer a form of management that both the customer and the bank comfortable and experienced with.

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News posted: August 2, 2007

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