Current account market now ripe for the picking, says Uswitch

The Payments Council has today announced a 22% increase in switching since the Current Account Switch Service was launched 12 months ago. David Mann, Head of Money at Uswitch.com,** says: **“These figures are very encouraging. For far too long consumers have been tethered to their bank accounts and at last there are positive signs that they are breaking free.

“The fact that well over one million people have moved to a better deal over the last year is concrete evidence that people are now expecting more from their banks. In return, the banks now have to work harder, not only to win new customers but to keep existing ones happy. This is great news for competition.

“With the high interest rates, cash incentives and other rewards on offer, the current account market is ripe for the picking. We are becoming a nation of smart ‘deal chasers’ and these numbers show that this applies to bank accounts as much as anything else.”

FOR MORE INFORMATION

Ailene Barr

Phone: 020 3872 5610

Email: ailene.barr@uswitch.com

Twitter: @uswitchPR

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