300,000 make current account switch

Updated
'Free' bank account costs revealed
'Free' bank account costs revealed

More than 300,000 people have switched their current account in the three months since a new guarantee to take the hassle out of changing banks was launched, showing a surge of almost one fifth year-on-year.

The Payments Council, which oversees the new initiative to help shake up competition in the sector, said that a total of 306,240 switches were made in the last three months of 2013, marking a 17% increase on the same period a year earlier.
%VIRTUAL-SkimlinksPromo%

Advertisement