Financial incentives for switching savings account providers in the UK 2014

Expected monetary gain for switching the current savings account to an account with high street provider in the United Kingdom (UK) as of 2014

by Statista Research Department, last edited Jan 20, 2015
Financial incentives for switching savings account providers in the UK 2014 This statistic presents the responses of savings account holders regarding the expected financial gain (per year) from the interest rate change, which would motivate them to switch their current saving account for an account offered by the high street provider in the United Kingdom (UK) as of 2014, listed for account type. The majority of respondents were unable to give a definite response. Among those who did, 28 percent from both groups said they would switch even if the gain equaled less than 50 British pounds.
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Expected monetary gain for switching the current savings account to an account with high street provider in the United Kingdom (UK) as of 2014

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Monetray gain from interest rateEasy access Cash ISAEasy access
Less than 50 GBP28%28%
51-100 GBP10%8%
101-200 GBP6%3%
More than 200 GBP7%5%
Don't know50%56%
Monetray gain from interest rateEasy access Cash ISAEasy access
Less than 50 GBP28%28%
51-100 GBP10%8%
101-200 GBP6%3%
More than 200 GBP7%5%
Don't know50%56%
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by Statista Research Department, last edited Jan 20, 2015
This statistic presents the responses of savings account holders regarding the expected financial gain (per year) from the interest rate change, which would motivate them to switch their current saving account for an account offered by the high street provider in the United Kingdom (UK) as of 2014, listed for account type. The majority of respondents were unable to give a definite response. Among those who did, 28 percent from both groups said they would switch even if the gain equaled less than 50 British pounds.
Show more
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Statistics on "Individual savings accounts in the United Kingdom (UK)"
  • Average amounts per account
  • Saving accounts in the United Kingdom
  • Saving behaviour
  • Distribution and usage of ISAs
  • Risks associated with ISAs
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