Bank switching boom

People are doing 15 times as many internet searches for switching bank accounts than they were last year.

This intriguing information comes from Experian Hitwise - and suggests that the publicity around the new Current Account Switch Service is already having an impact.

1.       UK Internet searches for switching bank accounts have increased by 160% month-on-month comparing July 2013 with August 2013.

2.       Year-on-year there were 15 times more searches for switching bank accounts in August 2013 than in August 2012.

3.       Of all searches for switching bank accounts made in August 2013, 11% resulted in a click to news website.

4.       1 in 5 search clicks went to a price comparison site from a search for switching bank accounts in August 2013.

Experian adds that applying for a new bank account can have implications for your credit rating.

It's worth considering that the bank might not want you!