Chris Lyttle MLA said: “I was delighted to host this event in Stormont. This ‘Current Account Switch Service’ is a great new initiative and I hope it will encourage more people to feel confident in shopping around for their current accounts.
“Many customers have faced difficulties in switching their bank accounts and there is misconception that it is not worth the effort. This has reduced the level of competition and choice.
“If customers are not happy with the service they are receiving or believe it is not the best one for them, then should be able to change their current account. People are encouraged to switch other services they receive such as car insurance, the same should be said for your current account.
“I hope this new service will also encourage banks to offer the highest level of customer service. It should lead to better levels of competition which will benefit both customers and banks.”