Consumers are deserting major high-street banks in unprecedented numbers after a slew of revelations about unethical behaviour, according to data from the Move Your Money campaign.
Credit unions – small, usually locally based savings groups – have attracted almost 20,000 new accounts in the past six months, according to Move Your Money, while ethical banks Triodos, Ecology and the Charity Bank have all reported a jump in customers.
Building societies saw 78,000 customers sign up for savings accounts in the third quarter alone after Barclays was implicated in the Libor-fixing scandal, which has spread to engulf several other banks.
A hundred thousand!
There are, what, 50 million accounts in the country? That’s on the low side I would have thought myself, adding deposit, savings, current etc.
Why, a whole 0.2% of the accounts have moved!
What a victory for the lefties, eh?
BTW, yes indeed, you should indeed move your accounts if the banks’ behaviour pisses you off. Consumer choice is indeed how this whole market based thing works. My pointing and laughing is at the “unprecedented numbers” claims.