Financial jargon is driving customers away from banks and building societies, new treasury backed research has found.
Three-fifths (60%) of consumers said they are likely to stop saving with a particular bank or building society if they cannot understand the way they explain their terms and conditions, according to the study by National Savings and Investments (NS&I).
More than half (54%) said confusing language would make them consider switching their custom to another firm.
Call centre staff were responsible for 41% of consumer confusion, while almost half (49%) said terminology in application forms had left them baffled.
Jargon used on company websites had also confused 50% of those polled. One quarter (25%) said they had stopped saving with a particular bank or building society as a result of website jargon.
More top news
Heavy rain and wind for Scotland and northern parts this weekend with an amber weather warning issued and travel disruption expected.
Heavy rain continues to affect Western Scotland and Northern Ireland
A surgeon linked to two deaths and a series of botched surgeries is to return to work despite an ongoing investigation, ITV News understands