Like the rain that falls from the sky the COVID pandemic has not impacted everyone equally.
This statement is especially true when it comes to the impact COVID has had on the needs of financially vulnerable customers.
Last week Pay.UK, the operator of the UK’s Current Account Switching Service, held a webinar that centred on whether the pandemic has changed the needs of financially vulnerable consumers when choosing a current account.
It is clear that the COVID pandemic has had a significant impact on the number of consumers switching their bank account as just 777,000 switches were completed over the last twelve months.
In a rare glimpse behind the numbers Pay.UK’s webinar provided a chance to understand some of the factors that are driving whether or not we choose to switch our bank account.
Jo-Anne Ainsley, Senior Service Lines Manager at Pay.UK, writes: Choosing current current accounts: Has the pandemic changes the needs of financially vulnerable customers?