27 August 2008
Consumers are being urged to examine their current accounts to make sure they are getting the best deal available. According to research from Alliance & Leicester Current Accounts, 58% of banking customers have never switched their current account. The same percentage have held the same current account for ten years or more, even though there may be more competitive offers available on the market. Alliance & Leicester's research also shows that 84% of consumers do not intend to review their current account in the future. Andy Muddimer, Current Accounts Manager at Alliance & Leicester, advised banking customers to "relegate" unfit current accounts and become a "winner" by signing up to a deal that pays better rates of interest and offers other attractive benefits. Recent research by Abbey Banking reveals that 8.7 million Brits bank with just one provider, holding their current account, savings and other financial products with the same institution.