Britons more loyal to banks than partners, reveals a study

Last Updated: Aug 22, 2010, 12:57 PM IST

London: Loyalty pays, Britons know best. Yes, a new study has revealed that Britons typically stay with their banks for longer than their partners.

And, the average length of Britain`s longest relationship is 14 years compared with 16.5 years people spend with the same current account provider, according to the study by high street bank Santander.

One in five have even trusted their savings with the same bank for more than 30 years, the study based on a survey, has found.

The research revealed that more than half of British adults remained loyal to their bank for more than a decade while a minority of just seven per cent swapped their account provider more than three times in the last 10 years.

Customers in the South-east were the most faithful, lasting 17.7 years on average with the same bank, according to the opinion poll of 2,000 Britons. Those in the Northwest were quickest to switch banks but only after 15 years.

Helen Bierton, head of Santander current accounts, was quoted by the British media as saying, "For many people enjoying a successful long term relationship inner form is more rewarding than chopping and changing.

"When it comes to current accounts, people often stay with the same provider, even though it might not be the most competitive because the prospect of switching to a new current account can be daunting."

PTI