MP Mark Lancaster has welcomed the launch of the current account switch service.
The service has been designed to make switching current account from one bank or building society to another simple, reliable and hassle free. The Current Account Switch Service is hoped to help reduce the time it takes for customers to switch their account from between 18 to 30 days to just seven working days.
The service has launched with 33 brands across 17 banks and building societies, covering nearly all of the current account market.
Mark said: “I have been contacted by many of my constituents since I was first elected, both individual customers and business owners, complaining about the difficulty they have experienced when trying to change their accounts.
“There has been understandable frustration about the length of time it has taken to switch in the past and at last, this common problem has been addressed through the free service being offered. I hope this will please many of my constituents and ensure that it will encourage banks to give us the best service possible from our banks.”