Number of closed savings accounts on the rise

Number of closed savings accounts on the rise | moneyfacts.co.uk

Savings accounts are rarely available for long these days. and given how quickly some are withdrawn and re-issued. there are huge numbers of closed accounts out there - and the figure is on the rise.

If you take a look at our savings Best Buys. youll probably see a few accounts with issue numbers next to them. Once that particular issue has been withdrawn from sale. it becomes a closed account – it doesnt accept any new customers. but those already saving into it can continue to do so.

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