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Bank Account News
Current account rates 'important at Christmas' - 27/11/2007
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Abbey has advised that a good current account can help with Christmas shopping.
The bank recommended that an attractive interest rate on a current account can maximise the value of funds at this crucial time of year, when many customers are preoccupied with spending money, possibly at the expense of their savings.
Steve Shore, head of banking at Abbey, said: "With all the money going out during the festive period it's crucial to make sure you are maximising any going in."
Research from the financial services provider has highlighted regional variations in seasonal spending, with residents of the UK's north said to invest an average of £480 in yuletide gifts - £75 more than the most generous inhabitants of Wales and the south-west and £125 more than south-east residents, the study showed.
Meanwhile, the average British consumer spent £104 on their partner, £116 on the children, £42 on their mother and £39 on their father, the investigation discovered.
Some six per cent of those surveyed admitted to possessing what Abbey termed "a lover", with the average amount spent on such a figure standing at £39 - according to the bank, this is evidence that "illicit affairs don't pay particularly high dividends".
In related news, 47 per cent of respondents to a new American Express survey intended to pay for Christmas with a credit card.
© Adfero
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