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Savers wish for transparency from providers

PUBLISHED: 17:32 20 March 2018 | UPDATED: 17:32 20 March 2018

Savers are becoming more aware of how their money is being used. Picture: Sonya Duncan

Savers are becoming more aware of how their money is being used. Picture: Sonya Duncan

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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