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FCA stirs up competition for banks’ easy access saver accounts

January 10, 2020


After 12 months of offering multiple introductory rates, banks will then have to decide on one single easy access rate (SEAR) for their easy access cash savings accounts, and one for their easy access cash savings ISAs.

The regulator says competition “is not working well” for the some 40 million British customers using UK banks for their savings, who it says are currently left with “poor outcomes”.

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