Saturday, July 9, 2011

Guide to switching bank accounts easier to

Switching bank accounts to become easier

Category: Banking
Date: 05/07/2011

Accounts change is a much easier process in the next two years be declared payments Council.

The project is the most effective in Europe, but the organization considered Britain's switching process improvement brings real benefits you to customers by end of 2013 said.

Less than one out of ten people (8%) have changed your account over the last five years, despite a big push by a number of banks to secure new customers.

Most people (80%), take the jump to car and change their current account provider said they were satisfied with the experience.

However at present pays only outgoing payments such as direct debits and standing orders will be automatically moved there is still the customer is obliged to not notify money on your account - such as for example your employer - your new account information.

Payments Council wants to switch account switching easily automatically for customers by ensuring an incoming payments to a new customer account.

It looks also to reduce how long it takes to an account from around 18 to maximum guaranteed seven working days to go.

Underpinning these important changes, the payments Council is to establish a guarantee that outline what customers can expect when they switch their current account.

While it is to be hoped that customers see a real benefit in two years, are changes to be replaced.

"We look to give customers a total peace of mind that they can switch to your bank account with ease,", said Gary Hocking, Managing Director of payments Council Act.

"A generation ago most people only a handful of regular payments set on their account, but today would have been, most of us would struggle to remember all the payments, the we to - mobile payments signed by regular savings."

"As a result more and more important that the process to switch bank accounts easily."

"We want a comprehensive switching system, which makes life for customers - just so that all outgoing and incoming payments are automatically turned on."

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