Press release:

uSwitch comments on latest current account switching figures

Commenting on the latest switching statistics from the Current Account Switch Service, Tashema Jackson, money expert at uSwitch.com, says: “Despite nearly a quarter of a million switches in the last three months of 2017, switching numbers remain erratic with the highs of November reverting to the sober reality of December. The regulators have pinned their hopes on Open Banking. They are expecting this financial services revolution to further stimulate the market and encourage the competitiveness required to really shake up the banking industry.

“For everyday consumers it is important to remember the basics. If you aren’t happy with your bank, don’t feel you need to accept the poor customer service on offer. There are many different options available now, whether you prefer the high street presence of the more traditional banks to the raft of new online challengers. Finding the right bank for your needs will take little research, but the benefits could be significant from extra cash in your pocket, some banks are offering £100 or more to switch to them, through to cheaper overdraft rates.

“For those worried about switching and the faff involved, using the Current Account Switch Service should alleviate most of your concerns as all your direct debits and standing orders will automatically be moved to your new bank. Future payments to your old account will also be forwarded, ensuring you don’t lose out.”

— ends —

About us

Launched in September 2000, uSwitch is an online and telephone price comparison and switching service, helping consumers get a better deal on gas, electricity, broadband, TV services, mobiles and personal finance products including mortgages, credit cards, car and home insurance. Last year we saved UK consumers over £278 million on their energy bills alone.

Customers can sign up to an account that automatically monitors the energy market and notifies them when they can move to a cheaper tariff, while broadband customers can conduct a speed test to find out how fast their broadband is and identify the best deal for their postcode.

The multi award-winning 'Switching Made Simple' app allows customers to compare energy, broadband, credit card, mobile and SIM-only deals – and uSwitch also has a UK contact centre manned by energy and broadband experts. Customers can post their latest energy bills to FREEPOST USWITCH to receive a free call back and be guided through the comparison process, or they can email customerservices@uswitch.com with their postcode and usage details.

uSwitch is owned by ZPG, which operates some of the UK’s most trusted digital brands that help empower smarter property and household decisions including Zoopla, Money, PrimeLocation and SmartNewHomes.

If you would no longer like to receive our press releases please email prteam@uswitch.com with 'unsubscribe'.