Banking customers urged to switch

Tue, 13 Dec 2005

Charity begins at home, according to a leading banking and financial services provider.

Norwich and Peterborough Building Society (N&P) says that with over half of Britons regularly doing charitable deeds, people should be good to themselves too during the season of festivity.

The society suggests that switching a current account is a good way to do yourself a favour. However, N&P found that only six per cent of banking customers will be doing this.

"Coming up fast is the time of year when we make new year's resolutions," says the society's head of banking and mortgage operations, Paul Rippon.

He says that people should not only consider ditching bad habits, but also think about starting a good habit like looking after their finances.

"Kick off the new year by opening a better current account for your lifestyle," Mr Rippon suggests, adding that "switching is easy".

He says that some banks pay an interest rate of only 0.1 per cent on current accounts, compared to N&P's Gold Current Account, which pays up to 2.78 per cent.

Customers hoping to switch to this current account will also receive £50 as a "smooth transition guarantee".

The society claims it will transfer all existing direct debits and standing orders within ten working days of the banking customer handing over the signed form or the customer will receive £50.

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