Switching bank accounts is 'easier than many people think'

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* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

A leading banking body has claimed that switching savings from one account to another is a lot easier than many people realise.

The British Bankers' Association's (BBA) spokesperson, Brian Capon, said that it has always been "quite easy" for consumers to change account or bank, despite perceptions that it is a lot more complex.

However, he added that people should shop around to ensure they find the best deal suitable on personal level, while they should also consider the timing of their switch.

"If you're having your salary paid into your account, then it's best to arrange for the old account to be closed just after your salary comes in," he explained.

"Normally the new bank will be quite happy to do everything that is needed to actually get the account transferred for you."

However, consumers should be careful when switching, as the Financial Ombudsman Service recently released figures revealing that the number of consumer complaints caused by moving current accounts has risen by 50 per cent in the past year.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


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