Majority happy with banks

About 92 per cent of people have not changed banks during the past two years, with 93 per cent of these claiming they are happy with the service they receive, according to the BBC.

Only 8 per cent of the 1,001 people questioned had switched accounts, with reasons for doing so ranging from getting better rates and wanting to take advantage of introductory offers to problems with customer service and a lack of local branches.

Only 36 per cent of those who had changed their provider cited the stability of banks during the recession as the reason they switched accounts.

But half of those who had not changed banks said they thought all current accounts were the same, despite the fact that the interest available on them ranges from 0.01 per cent to 5 per cent.