More than 600,000 switch bank providers under new system

More than 600,000 current account customers have switched providers in the six months since a new guarantee to take the "fear factor" out of changing banks was launched.

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Over 600,000 switch bank accounts in new campaign

More than 600,000 current account customers have switched providers in the six months since a new guarantee to take the "fear factor" out of changing banks was launched.

The campaign to make it easier to switch bank accounts was launched in September 2013. Credit: Ian Nicholson/PA Wire

The Payments Council, which is overseeing the new service, said there were 609,300 switches in the six months to the end of March, which represents a 14% increase on the same period a year earlier.

High awareness of and growing confidence in the current account switch service has helped to boost the numbers, the Payments Council said.

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