Metro Bank has welcomed Chancellor George Osborne’s reminder that customers will soon be able to switch their current account provider within seven working days.

Craig Donaldson, chief executive, comments: “The ‘seven day switch’ is an important move that will do great good by increasing public confidence in the switching process. Customers tell us that they’re worried about the process, when in fact it is straightforward and simple, and we believe that it’s this lack of confidence that is significantly holding up movement in the market. Metro Bank already makes it easy to switch accounts. Customers can walk in from the street and open an account, and our dedicated switching team will handle the entire seamless switching process for them. This process will kick other banks into gear, and make switching even easier for our customers.”

In a speech today about the future of banking, Osborne noted that the free service would be available from September.

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