The Payments Council has confirmed that there is just one year to go until the introduction of its new current account switching service. The new system, which has the backing of HM Treasury, aims to increase competition in banking by making it easier and quicker for customers to switch their current account from one bank to another.

Adrian Kamellard, chief executive of the Payments Council, comments: “Ultimately, an improved account switching service will only deliver more competition in the market place if customers actually use it. This is why we aren’t just building a new service but the industry is making a huge investment to promote it through national TV and radio advertising from next September. We need to make sure that customers are aware of the new service and have confidence in the many benefits it will deliver.”

A national advertising campaign will run after the launch to raise awareness of the new account switching service amongst customers. The Payments Council has appointed communications agency Partners Andrews Aldridge to work on delivering the campaign which will include TV, radio and print press advertising.

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