Savings accounts may lose their popularity among clients as best-rates offered by banks usually tend to be part of introductory offers.

Mark Bower, managing director of moneymaxim.co.uk, said: "Most of the best rates on the market are introductory rates. The ability of companies to offer those products rely on the fact that a certain proportion of customers will not remove their funds each time the introductory rate falls away."

He advised clients to be especially careful when deciding to shift their funds to another bank account. When considering such a move customers should look at the whole package being offered to them and not just the headline rates that are being offered to change their savings account, he added.

His comments follow in the wake of recent findings made public by Which? that revealed that banks offering attractive rates often had strict rules attached which came into affect once the initial period elapsed.

These rules often include heavy penalties for withdrawing money out of the account, as well as minimum monthly payments. It has been revealed that banks also often reserve the best rates for savings accounts only for customers who also have current account with them.

Interestingly, recent research carried out by Santander revealed that Brits tend to spend more time with their banks than with their partners. While, an average Briton spends 14.1 years in a committed relationship, they keep their current accounts with the same providers for as long as 16.5 years.

The report also found that 57 per cent of Brits have had the same current account for more than a decade, while18 per cent of people have stuck to their providers for more than 30 years.

It was also found that a minority of Britons fell into the unique category of serial switchers. Seven per cent of the British population had changed their bank accounts three times or even more in the past ten years, it was found.