Savers wish for transparency from providers
PUBLISHED: 17:32 20 March 2018 | UPDATED: 17:32 20 March 2018
ARCHANT EASTERN DAILY PRESS (01603) 772434
One in three savers in the East of England say they would be motivated by ethics when putting money away, according to a survey.
More than half of respondents to a survey by Triodos Bank said they would switch savings providers if they discovered their money was being lent to areas which negatively affected people or the environment.
Three-quarters said they thought banks and financial services providers should be more transparent about how they used customers’ cash but 84% said they had no idea how their own money was being used.
Bevis Watts, managing director at Triodos Bank UK, said: “Many savers are putting transparency and positive impact at their top of their criteria.
“It is time that ISA providers offered the transparency that people deserve – the fact that the vast majority of savers currently have no idea where their bank lends their money isn’t in their interests.”
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