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Financial inclusion, switching and banks

Financial health is undervalued

By Helen Goodman  


Read a companion piece titled “Is Britain’s banking system competitive enough?” here

Two million adults in the UK don’t have a bank account. I think that’s staggering.

Of the adults that do have bank accounts, a third have been with their bank for over twenty years. Only one in fifty people switch their main account provider each year. That’s why competition to sign up young customers for their first current account is so fierce. Once you open an account with a bank, chances are you’ll be with them for years—an accidentally loyally…

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