Smile! Switching current accounts can't be worse than divorce

05 July 2007
Married Britons are more likely to divorce than to change their bank account provider, internet bank Smile has revealed.

In 2005, just one per cent of married people changed their current account provider, whereas one in three got a divorce, suggesting that consumers could be more resistant to financial than personal lifestyle changes.

Meanwhile, the prevalence of divorce in the UK and US is more visible than ever, said Smile's marketing director David Newman, alluding to recent splits between Ryan Phillippe and Reese Witherspoon and Britney Spears and Kevin Federline.

The two lifestyle changes could even be linked, Mr Newman added, suggesting that switching bank to a provider better suited to you could leave you free to dedicate your time to "the important things in life such as each other".

In bids to encourage current account customers to switch, growing numbers of banks have recently begun to offer cash incentives, including the Halifax £100 switching gift and the Alliance & Leicester £40 recommend-a-friend offer.

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