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Uswitch comments on anniversary of current account seven day switching service

Commenting on the anniversary of the current account switching service, Nicolas Frankcom, money expert at https://www.uswitch.com/banking/>**Uswitch.com****, says**: “The seven day switching service has made it even easier to change banks, and getting two million people to switch is a great start.

“But less than 5% of current accounts were switched in the last two years and more has to be done to convince consumers that, when it comes to banking, loyalty simply doesn’t pay.

“The good news is that it’s never been a better time to switch. Increased competition between providers means consumers can really benefit from moving their current account. Besides switching incentives, like the £150 offered to new customers by Clydesdale Bank, some current accounts now pay more interest than savings accounts. There are also plenty of products offering fee-free overdrafts, rewards, and fee-free cash withdrawals overseas.

“What’s more, Santander’s recent decision to nearly triple its account fees shows how important it is for people to switch regularly to avoid being stung.”

FOR MORE INFORMATION

Katherine Moss

Phone: 020 3021 5893

Email: katherine.moss@uswitch.com

Twitter: @uswitchPR

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Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.

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