Sticking with the same bank is a sign of loyalty, but it is also a sign that you could be missing out on a load of great deals elsewhere on the market.
They should be considered if you feel another account could provide you with more benefits.
For example, you might want to change accounts because the great introductory offer that convinced you to open your account is no longer available to you.
However, some accounts will impose a penalty for moving your savings, or will reduce the rate at which your annual interest is paid if the account hasn’t matured, so check first before making a switch.
Switching should also be relatively straightforward and should only really take a couple of days, but remember to always double-check and compare the terms and conditions on your current savings account with the one you want to switch to.
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