Co-operative reports demand for its current account

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Co-operative reports demand for its current account

The current account from The Co-operative Bank has surged in popularity over the last year.

It has reported that there has been a 38 per cent increase in the number of people applying to open the account in 2009.

This breaks down to 22 per cent looking to move to The Co-operative from another major provider.

After carrying out research into why people change banks, it was found that for 29 per cent of consumers it is down to feeling dissatisfied with customer service, while 19 per cent wanted a bank with a branch close to where they live.

John Hughes, business leader for retail products for The Co-operative Financial Services, commented that while changing banks can be daunting, most institutions do the most difficult aspects of it themselves.

Changing accounts may come as part of the plans to save more money this year for many consumers, as the bank recently found that 75 per cent of women are intending not to make impulse purchases this year.

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