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UK: Watchdog pleased with bank-switching promotion results

 |  September 11, 2014

The UK Payments Council has reported positive results from an initiative aimed at improving the ability for banking customers to switch their banks and boosting competition in the industry.

The Council said that between October 1, 2013 and August 31, 2014, there was a 19 percent increase in the number of account switches as compared to the same period the year prior.

The updates were part of a progress report offered by the authority since last September’s bank switching services were launched.

Full content: The Guardian

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