UK Loyal to Undeserving Current Account Cads

Britons display only marginally less long-term commitment to their spouses than to their current accounts, Alliance & Leicester market research has revealed.

Three fifths of adults in the UK say that they have stuck by their current account for more than ten years, despite often having settled for whatever came along. The term is longer than most of us spend in a property (seven years) or in our jobs (seven and a half years).

And 13.7 million of us admit that we have never even sneaked a look at what we would be able to get if we jilted accounts paying one per cent or less.

“Researching the market to check how competitive your bank is should be routine for all banking customers, especially given how simple and straightforward the switching process is today,” said Helen Palmer, current accounts manager at Alliance & Leicester. Several accounts now pay four per cent or more on balances and provide other perks such as cash-back, as competition heats up in the once-moribund market.

This article © Moneyexpert Ltd.

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