September 13, 2013 2:02 pm

Live Q&A: Current account switching

Have you ever switched your bank account? If so, you’re in the minority – UK customers switch their bank accounts on average only every 26 years.

That should change as the process of closing a bank account, opening a new one and amending direct debit instructions is made easier and quicker.

Kevin Mountford, head of banking at moneysupermarket.com, and Jemma Smith, director of communications and education at the Payments Council, answered your questions on how the new Current Account Switch Service system will work.

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