22 June 2006
Almost one in five current account holders admit to never opening, reading or checking their bank statements.
The Royal Bank of Scotland found that as many as 7.4 million account holders in the UK, around 18% of the total account holder population, always fail to check their statements for errors.
Of those who do claim to check, 23% say they do not do this regularly.
As a result, 20% of all account holders say that they are aware of their balance at any time within a £50 margin of error.
Allan Hardie, head of current accounts at The Royal Bank of Scotland, said: "The fast pace of modern life means that everyone needs a current account that will work hard for them.
"Our research reveals that almost two thirds (63%) of account holders are completely reliant on their account, but our findings suggest that despite this, people may not be making the most of the products and services available to them."
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