EU study reveals switching bank accounts is ‘Herculean task’

EU study reveals switching bank accounts is ‘Herculean task’


Results of a consumer market study published on 24 February showed that more than two-thirds of mystery shoppers were not able to switch their bank account successfully.

The European Commission's 2007 inquiry into the retail banking sector identified significant barriers to customer mobility. These findings were followed by extensive consultation, which led the Commission to urge the Banking Industry Committee (EBIC) to act.

EBIC established a self-regulatory initiative based on...


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