More than 17,000 people use account switching code

More than seventeen thousand people have used the personal account switching code to change banks.

Figures published by the Irish Bankers Federation show up to 1,500 consumers a month are using the service since it was brought in over a year ago.

The code allows account holders to switch financial institution with the minimum of fuss.

Four out of ten have done so to avail of free of cheaper banking elsewhere.