Metro attacks bank rate cuts

 
Tim Wallace
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SAVERS have been ripped off to the tune of £4.7bn over the past three years, Metro Bank claimed yesterday, by big banks cutting their interest rates.

Its study found 35 per cent of existing customers have had their rates cut, by an average of 0.46 percentage points.

Metro’s report comes as the City watchdog’s consultation on behaviour in the savings market comes to a close.