Personal Finance

More of us bank on money than love

People's relationships with banks last much longer than those with partners, a survey suggests.

Santander found that on average, people's longest relationship lasted 14.1 years while they had been with their bank for around 16.5 years.

Some 18% of people have even been with their bank for more than 30 years, a long stretch for any marriage.

Nearly six out of 10 people have had the same current account for more than ten years.

Only 7% of those questioned said they had moved their current account at least three times during the past 10 years.

People in the South East are the least likely to move their current account, with the average person having been with the same bank for 17.7 years, followed by those in Wales and the East Midlands at 17.6 years and 17.2 years respectively.

Consumers in the North West are the least loyal to their bank but even here they have held the same current account for around 15.3 years.

In all of the regions, on average people's relationship with their bank had lasted longer than their longest relationship with a partner.

Helen Bierton, head of Santander current accounts, said: "For many people enjoying a successful long term relationship in whatever form is more rewarding than chopping and changing."

Sam Jackson

Money Dashboard