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Savers 'losing £12bn in interest' say consumer group Which?

The consumer group, Which?, says savers are missing out on billions of pounds, because they leave their money in accounts which no longer pay top rates.

It said that nearly half of 1,200 savings accounts in the UK paid interest of 0.5% or less.

Which? said if all savers switched to accounts with the highest rates they could receive an extra £12bn a year.

The British Bankers' Association (BBA) said that details of savings rates were readily available.

Maddy Savage reports.

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