Early day motion tabled by primary sponsor Gregory Campbell (Democratic Unionist Party), on Wednesday, 4 June 2014, in the House of Commons. It is signed by 22 members in total.

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ZOMBIE SAVINGS ACCOUNTS

That this House notes the recent report by Which? magazine outlining the ongoing problems being faced by people dependent on income from their savings; further notes that numerous financial institututions continue to have accounts, often known as zombie accounts, offering 0.1 per cent interest, meaning that people with on average £10,000 in these accounts receive less than 20 pence per week in interest; and calls on each bank and building society offering such rates to existing savers to pro-actively market their more competitive accounts in order that elderly savers, many of whom do not regularly monitor savings rates, can avail themselves of a significantly better return.

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Secondary information

Type

Early day motion

Reference

31 

Session

2014-15

Other sponsors

Lord Dodds of Duncairn

Peter Bottomley

Mark Durkan

Jonathan Edwards

Jim Shannon

Subjects

Financial services Interest rates Personal income Personal savings

Link

View this Early day motion on www.parliament.uk