1 May 2007
Research from Abbey Current Accounts has revealed that 12% of Britons own a current account which their loved ones don't know about.
These Current Account Secretly Hidden From Loved Ones or Cashflos are thought to make up one in every seven active current accounts with 25-34-year-olds most likely to be keeping one from their partners.
Regionally, those in the north-east of the UK have the most Cashflos while those in Yorkshire have the least. Both sexes have admitted to owning a secret account, though they were unlikely to come from the 16-24-year-old bracket as this was the least likely group to have one.
Abbey estimated that the cause of these Cashflos was probably to prevent money arguments between couples, with various organisations from relationship advisers Relate to the Financial Standards Authority agreeing that money was the hardest thing to talk to a spouse or lover about.
Commenting on the survey's results, Steve Shore, Head of Banking at Abbey, said: "Whether or not you keep your actual account itself secret there are some things that you should always keep to yourself.
"Never share your chip and PIN with anyone - even if you share a joint account with someone - and don't ever quote all your security details over the phone. No bank staff would ever ask you to," he advised.
© 2008 Adfero Ltd
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