Less than a fifth of people have switched bank account in past year – survey

Less than a fifth of adults have switched a bank account in the past year, according to a survey for KPMG (Tim Goode/PA) - (PA Archive)

Less than a fifth (17%) of adults have switched a bank account in the past year, according to a survey.

Nearly half (45%) of 18 to 24-year-olds surveyed said they had moved banks in the past year compared with just 4% of those aged 65 and older, the research for audit and advisory firm KPMG found.