Qualified advisers answering your
Financial Questions
for FREE within 60 minutes*

When did you last change your bank account?

Despite the fact that the UK banking sector is one of the most competitive in the world it would appear that very few people in the UK would actively consider changing their banking arrangements to take advantage of better deals elsewhere. Surveys have shown that the vast majority of people in the UK are very happy to remain with one bank for their whole of their working life despite the fact they could be losing out on offers and deals. So why is there a reluctance to change your bank account?

The simple fact is that many people believe that changing a bank account is very complicated and will impact upon various direct debits and standing orders which they may have in place. The truth is that many banks will take it upon themselves to rearrange your standing orders and your direct debits so effectively you are highly likely to see a seamless transfer from one banking operation to another.

In reality the best deals and best offers will be available from different banking institutions at different times. However, finding one which suits you and a bank which stays relatively competitive should be enough to save you significant money on loan interest and potentially earn you more money on savings deposits.

Share this..

Related stories

Webchat Thursday 2pm: Student Finances with Alvin Hall is proud to present a live webchat with Alvin Hall this Thursday at 2pm. The webchat will take place here: Alvin will be offering his expert advice to parents concerned about keeping their children's university budgets in the black.

The new university term really... Read More

Ask your question now!

Ask your question in the box below

Contact details are required so we can respond to your question

Allow 60 minutes* for a response from our UK qualified advisers

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Should you transfer your child’s CTF to a Junior ISA?

The government recently announced that the Child Trust Fund can be transferred to the more favorable Junior ISA. Why should you make the switch? If your child was born between 1st September 2002 and the 2nd January 2011, read on.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details