Cash Isa provider Santander reports strong loyalty to banks

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Cash Isa provider Santander reports strong loyalty to banks

Cash Isa provider Santander has revealed that many Britons are willing to stay with the same bank for an extended period.

Research by the group found that 18 per cent of people in the UK have had the same current account for over three decades.

Figures also showed that 57 per cent have been loyal to the same provider for more than ten years.

Santander noted that this means people's relationships with a bank often last longer than their relationships with a romantic partner.

Indeed, statistics from the company revealed that a person's longest romantic affiliation lasts for 14.1 years on average.

By contrast, the typical amount of time a person stays with the same bank comes to 16.5 years.

Helen Bierton, head of Santander Current Accounts, commented: "For many people enjoying a successful long-term relationship in whatever form is more rewarding than chopping and changing."

This comes after Gocompare.com revealed that 36.5 per cent of people have never switched their bank account.

The price comparison site also revealed that nearly one in five consumers have always stuck with the same mortgage lender.

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