Consumers keep a close eye on finances

A quarter of UK consumers check their bank balances every day and know exactly how much they have in their account at any given time, according to a new survey.

Nearly 40 per cent can say how much they have in their current account to the nearest £10 and another 29 per cent can state their balance to the nearest £100, the Sybase study found.

Altogether, one in seven Britons check their bank balances every day and 40 per cent check “every few days”.

Consumers are becoming “increasingly vigilant” when it comes to their finances, said Sybase spokesman Mark Weait.

He added: “This is based on a number of emotive issues that have been highlighted in the media recently such as monitoring bank charges for exceeding your overdraft limit, fraud prevention and identity theft.”

In related news, representatives of banks met up with IVA brokers yesterday to discuss the growing number of people seeking to make debt arrangements.

© Adfero Ltd

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