11 December 2008
As consumers look for ways to make their money work harder, many are switching their current accounts to different providers, according to the Co-operative Bank.
It said that during the course of 2008, it has seen a 65% increase in the number of customers transferring their current account onto its books.
Such large growth is usually only achieved when banks spend large amounts of money on marketing or attractive offers, the bank pointed out.
Head of Current Accounts John Barker said: "It was often said that people were more likely to get divorced than change bank accounts, but it appears this consumer apathy is a thing of the past thanks to the financial crisis."
Last month, Alliance & Leicester urged Britain's over-50s to examine their current accounts after it found that just 7% of people in this age group had switched to a different provider to improve their financial situation.
Consumers can switch online now to a current account offering better rates and more attractive incentives.