Bank accounts: people don't want to press the switch

An important consumer organization, Consumer Focus, receives a high amount of complaints from customers of banks, but in the past 2 years only 7% of them decide to move to another bank showing their displeasure.  Compared to other instances costumers of banks don’t change fast their account,  switching happens much more between energy suppliers, telecom providers and home insurance.  So there is no pressure on banks to improve their service in relation to other banks. There should  come some new measures to change this situation, including: clear and fair charges, comparable tables on current accounts and an obligation of banks to pay for goodwill.

Kristof Buffel

http://www.guardian.co.uk/money/2010/oct/09/switching-bank-accounts-consumer-focus