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Over half of Britons rate banks as untrustworthy

30 June 2010
Written by rosalind renshaw

More than half of Brits do not trust their bank and two in five over-60s prefer to keep most of their cash out of the banks’ hands. Altogether, 17% of people of all ages trust keeping their money under the mattress more than their bank.

A poll of 1,682 people found that 54% thought their banks untrustworthy.

Two years after the Northern Rock debacle, 34% claimed the economic crisis had left them ‘wary’ whilst 9% had been angered by charges applied to their account, and 11% said they were worried about identity theft, which made them cautious about leaving their finances in the hands of a bank.

The research also showed that 84% had had their bank try to sell them a service they neither wanted nor required. 

The research was carried out by MyVoucherCodes.

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