Santander researcher notes time spent checking current account interest rates

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Santander researcher notes time spent checking current account interest rates

People could find their finances are significantly improved by spending longer researching the features of current accounts before switching, according to an expert working on behalf of Santander.

Datamonitor representative Rod Logan urged people not to rush the decision as to which bank account they will keep their day-to-day funds in.

He made his comments after his organisation conducted research for Santander that showed consumers tend to spend more time researching pay-as-you-go mobile contracts, savings accounts and car insurance than current accounts.

Mr Logan suggested significant benefits can be missed by not spending enough time looking at the features of a product.

"It is interesting that people take so much longer to make a decision on car insurance or a savings account than a current account," he added.

This week, Santander reminded consumers that they only have until December 12th 2010 to take advantage of a £100 cashback offer for switching their current account to the brand.

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