Savers missing out on interest as a third keep cash in current accounts

Savers are missing out on interest payments after new figures revealed a third of bank customers keep their cash in current accounts.

Most current accounts do not pay any interest at all, and even those that do are far less than the higher returns available in saving accounts.

The Bank of England’s 14 consecutive rate hikes have led to easy access savings rates that offer interest as high as 5pc.

This could rise further as Governor Andrew Bailey is