New figures from Alliance & Leicester (A&L) Current Accounts have revealed customers are missing out on current account deals by believing a collection of financial 'myths'.
A number of good deals are currently available on the market, but consumers miss out because they do not shop around.
Simon Ripton, current accounts manager at A&L, commented: "There remains a great deal of confusion about the switching process and yet there are now so many great accounts available - all of which easily beat those offered by the Big Four.
"Switching these days really is a simple and painless process."
Results showed that 47 per cent of people believe changing current account is time consuming and51 per cent feel there are too many forms to fill in.
Despite this when people do make a switch to another current account, 77 per cent claim to be glad they did so.To read more about current accounts, click here.
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