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Now Is the Time to Prioritize Saving, But Americans Are Not Using Accounts That Accelerate Progress, Santander Survey Finds

1. 78% of consumers prioritize saving, yet 69% avoid higher-rate accounts.

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FAQ

Why Bullish?

The survey indicates strong consumer interest in savings, suggesting potential demand for Santander's high-yield savings products.

How important is it?

Consumer behavior shifts towards savings could enhance Santander's product appeal and market position.

Why Short Term?

Increased consumer awareness can lead to immediate uptick in account openings and deposits.

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SNB
BOSTON--(BUSINESS WIRE)--Santander Bank, N.A. (“Santander Bank”) today announced the results of a new survey that found while nearly eight in 10 consumers (78%) say saving is a high priority, seven in 10 (69%) do not use higher-rate accounts — such as high-yield savings accounts, money market accounts and certificates of deposit (CDs) — that would accelerate progress toward their goals. The findings were part of the fourth installment of Santander Bank's Openbank Growing Personal Savings (“GPS”.

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