50,000 signatures reached
To: All UK Banks, including the four largest: Barclays, HSBC, Lloyds and NatWest and the FCA (Financial Conduct Authority)
Banks: Stop taking advantage of loyal customers
Stop taking advantage of your loyal customers and raise the interest rates on all savings accounts in line with the increased rates you're getting from the Bank of England.
Why is this important?
Despite the Bank of England base rate increasing to 4.25%, most savings accounts have an interest rate of less than 1%. As most of the country struggles with the current cost of living crisis, banks should be sharing their profits with their loyal customers, instead of pocketing all the profits for themselves.
But here's the thing - this issue is in the news right now, and banks have been put under the spotlight. MPs recently questioned them in Westminster, and now the FCA - the body who regulates banks - have said they'll consider intervening if the issue continues. So banks will be feeling the heat - but we need to ramp up the pressure.
How? Well right now the voice of the public - their customers - is missing. A huge petition, signed by tens of thousands of us, could be the first step in sending a strong message to banks that we will not stand for this unfair practice. Together, we can turn up the heat and make sure banks prioritise customers over their own profits.