Many Britons feel that changing bank accounts is not worth the time or money and therefore miss out on better services they could enjoy.
Banks are encouraging customers to switch. Offers of better savings rates, more ATMs, cheaper charges and fees are all reasons for changing. Britons however aren’t likely to change. Banks are competing in this hard economy for customers like most businesses and they need depositors to help their balance sheets.
Surprisingly a recent poll by Co-operative Bank Current Accounts found that just 29 per cent of people would be willing to simply compare banks even if they were unhappy with their current bank’s customer service.
Bank accounts are simple to change. With banks competing for customers and offering attractive services tailored differently a simple comparison could have its advantages.