It’s easy to shop around and switch banks

18 per cent of people with credit cards want to switch to a new card. 16 per cent of home loan borrowers intend to switch home loans according to a new industry survey.

When it comes to savings and transaction accounts, about 9 per cent say they intend to change institutions.

Many people think switching financial institutions is hard and not worth the effort said an industry analyst. However recent reforms have made switching easier.

Source: The Daily Telegraph