At the moment in the UK there is a 'scandal' involving people losing their Christmas savings as they were saving with a company that then went bankrupt. Whilst I've every sympathy for them, I am moved to wonder the following:

Why did they not open a savings account, and earn some interest? (and as a bonus, have their savings protected by the FSA)

I mean, what advantages did they hope to accrue by using this company as compared to using a savings account?