£4.3bn lost in 'zombie accounts'

Press Association

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Savers are losing an estimated £4.3 billion a year in total from having money languishing in poor-paying accounts, research from Which? has found.

The consumer group has launched a new campaign pressing banks and building societies to "scrap the savings trap", by displaying interest rates more clearly on statements and move people out of "zombie" accounts, which are closed to new customers and often pay rotten rates of interest.