Brits 'stick with bank accounts longer than partners'

By Sarah Engle, Mon 23 Aug 2010 - Published in Banking

The average British saver stays with their bank longer than they are in a relationship with a partner, it has been claimed.

Research published by Santander Current Accounts suggested that Brits tend to stay with the same bank for 16.5 years, while their longest relationship lasts 14.1 years on average.

The poll also discovered that savers in the south-east are the most loyal to their current account, holding the same one for 17.7 years, while people in Wales are the most likely to change, remaining with their account for 15.3 years.

In addition, the survey revealed that 18 per cent of savers have stuck with their current account for more than 30 years.

Helen Bierton, head of Santander Current Accounts, commented: "When it comes to current accounts, people often stay with the same provider, even though it might not be the most competitive, because the prospect of switching to a new current account can be daunting."

Recent research from Gocompare.com found only 10.1 per cent of savers have looked for a better bank account in the last 12 months.

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