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Using the Internet to your advantage

As UK consumers look to contain their debts, reduce their outlay and basically live within their budgets the Internet is becoming more and more vital each day. The ability to check the financial marketplace at a moments notice is something which is appealing to more and more UK consumers and placing more and more pressure on financial companies.

While many consumers would prefer to stay with one banking operation, even though they may not offer the best headline rates, a number of people are now starting to barter with their banks to see if they are able to match headline rates elsewhere. This puts the consumer in a very strong position with UK banks desperate to retain profitable customers and ensure that their competitors do not benefit for the sake of a "few percentage points".

One other factor which is playing into the hands of UK consumers is the divergence in interest rates between different providers and different investment services. While some are pushing aggressively for market share on reduced profit margins, others are more than happy to sit back and retain their existing customers until liquidity returns and the opportunity to take a calculated risk on low rates is available.

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