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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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Poll: 57% think banking should be easy to understand

More than half of Britons say it is most important for banking to be easy to understand, a new ITV News/ComRes poll has found.

(From the left) a Barclays Bank, Royal Bank of Scotland and a Lloyds bank. Credit: PA

The survey of 2,034 British adults found that 57% said banking should be simple, even if this means less choice between different bank accounts.

More than two thirds thought there is generally a good choice of different banks available (70%) and it is generally easy to change bank accounts (67%).

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