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Bank claim news: Accountholders 'unwilling to switch'

Many people who have filed a bank claim in the past are still reluctant to switch their account provider, new research has suggested.

According to a study conducted by Halifax, one in ten Britons still use the bank account that they opened when they were under the age of 15.

Further to this, one in three adults have continued to keep their cash in the account that they first set up between the ages of 16 and 24.

Other figures reiterate many people's reluctance to update their bank package, as more than one in four have held their existing account for over 26 years.

Around 17 per cent stated that their parents' choice of bank had the biggest influence on their own selection.

Nearly a third of the survey respondents said that nothing would persuade them to join another bank, although the majority indicated that financial incentives would eventually sway them.

Earlier this week, consumer magazine Which? called for action to be taken to prevent banks charging excessive amounts when customers exceed their overdraft limit.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801267749-ADNFCR

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