One in six people considers withdrawing savings

  • Story by: Gemma Westacott
  • Magazine: FTAdviser
  • Published Friday , October 10, 2008

Almost 50 per cent of people feel that their money is less safe than a year ago, prompting one in six to withdraw, or consider withdrawing, their savings from banks and building societies.

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The poll of 468 people, carried out by ICM Research on behalf Channel 4 News, found that 45 per cent of people now feel their money is less safe than they had done previously.

Only 6 per cent of people questioned said they felt more financially secure.

This was despite the poll being carried out on the same day as the government announced its £500bn bank rescue plan.

This loss in confidence has caused almost 16 per cent of those surveyed to either withdraw their savings from banks and building societies already, or seriously considering doing so.

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