Charities dissatisfied with savings account rates, poll discovers

Charities are unhappy with the savings account rate offered by their current provider, according to a poll.

The Fair Investment Company's research involved 82 charities being asked if they were satisfied with their savings account rate.

All of those taking part in the poll were unhappy with their rate, which is up from the 97 per cent of respondents in last month's poll that reported that they were unhappy.

David Doulton, director of Fair Investment Company, said: "The average rate on an instant access charity savings account is currently just 0.29 per cent, while on a three-year fixed account; it is only 1.85 per cent, so I am not at all surprised that all the charities polled said they are unhappy with their savings account rate."

The Fair Investment Company also discovered that 99 per cent of businesses are unhappy with the savings rate offered by their provider.

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2010-08-17 13:02:30 © Moneyextra.com