by Daniel de Visé
USA Today
Most Americans feel their bank accounts aren’t keeping up with inflation, a new survey finds, fresh evidence that savers who seek high interest rates may not be looking hard enough.
In a survey fielded by the personal finance site WalletHub, 65% of bank customers said the money in their accounts isn’t keeping pace with inflation. The findings come from a nationally representative survey of more than 200 consumers.
If a consumer’s bank account is earning less than the inflation rate, banking experts say, that may be the customer’s own fault.
“People do not do enough comparison shopping when it comes to where they’re going to put their money, their savings,” said Odysseas Papadimitriou, CEO of WalletHub. “They usually rely on the easiest solution.”