“It will only be a success if the banks play their part” – our response to the launch of the midata current account comparison tool

Which? executive director, Richard Lloyd, said:  

“In the past, it’s been almost impossible for people to work out if they have the right bank account. The midata initiative will allow people to compare accounts based on their needs and could help them save money if they switch. However, it will only be a success if the banks play their part in making people aware of the service and the benefits of switching, and if it’s rolled out across all current account providers.” 

Background: 

Previous Which? research found six in 10 (59%) people who switched current accounts with the new switching guarantee weren’t confident they’d picked the account that best suited them. [Which? surveyed 4,873 people in February/March 2014.]

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