Banks might have received a lot of bad press recently, but it seems that consumers still trust them more than supermarkets and retail brands when it comes to looking after their money.

Research conducted by moneysupermarket.com shows just four per cent of people in the UK would trust a supermarket more than a bank to look after their cash.

Meanwhile, just ten per cent said a supermarket is likely to provide a better banking service than a bank, while three in ten are of the opinion that supermarket brands such as Tesco and Sainsburys 'have already gone too far and should stop expanding'.

The last couple of years have been extremely damaging to the public's confidence in banks and this clearly opens a door for the likes of Tesco and Sainsbury's, Kevin Mountford, head of banking at moneysupermarket.com, commented.

However, our research shows banking brands still hold far more trust than supermarket brands when it comes to managing the UK's finances .

Having said this, he went on to note that increasing competition from supermarkets can only be good for the consumer.

Yesterday (November 3rd), chancellor Alistair Darling announced plans for an extra injection of taxpayers' money into the Royal Bank of Scotland as the ramifications of the credit crunch and ensuing recession continue.