One Bank Equals Simplicity

Published: 8/7/2010

Research carried out by the Abbey National has shown that around 20 percent of UK consumers have all their finances dealt with by just one provider. They feel it is simpler this way.

On top of these people who have already gone to one supplier there is another 18 percent who are seriously thinking about it. Between these two groups that is almost 40 percent of people looking to make their finances easier to manage. Does this say something about the population as a whole or the finance companies themselves wonder Abbey National?

On average we have 3 different finance organisations we deal with, as well as three passwords and three PIN numbers. No wonder people want to simplify things. The Abbey National do not advocate using just one password or PIN number though since this has a detrimental effect in security.