Taking the current account plunge

Research issued by first direct shows that 44 per cent of UK adults have never switched their current account and a further 27 per cent have only moved their banking once. Also, only four per cent said they will definitely change their current account provider in the next two years.

When asked what would prompt them to switch, two thirds flagged up the introduction of charges by their current provider and 54 per cent poor customer service. However, only 15 per cent stated they were extremely satisfied with their current account provider.

Just been asking people what I work with and their feedback backs up this survey. Sample comment: "I've been with Barclays for years and see no reason why I would change now."

It's the same with me. I've been a NatWest customer since my teens. I remain with them not because I think they provide an amazing service (overall it's OK and there have been times when I've felt badly treated), but because I consider switching, then put it off, telling myself it's too much hassle. Will this change with the emergence of new entrants and the launch of the new seven-day account switching service in September? Meh. I dunno. Maybe...