In your interest to switch to new bank

TO judge by the Central Bank’s latest consumer protection bulletin, Irish consumers are a very forgiving lot. Despite the scandals that have afflicted the banking sector, we all still tend to stay with the first bank we signed up with. However bad the marriage, we’re determined to stick it out.

According to the bulletin, 1,542 customers switched current account provider in the second half of last year. This is miniscule when you consider that we currently hold in excess of 5.3 million current accounts. The switching rate is the lowest observed since recording began five years ago.