Slow take off for bank swap scheme
(04 December 2012 – Australia) Figures published by the Australian Treasury have shown that during its first three months, 60 customers a day have used the government’s scheme that makes it easier to change banks.
Since July customers have been able to change banks by simply filling out a single form to arrange for all direct debits to be transferred to the new bank account.
In its first three months, 3760 people had taken advantage of the scheme, figures published by the Treasury show, working out to about 60 people each working day.
The chief executive of the Australian Bankers' Association, Steven Munchenberg, said many people were unaware of the scheme, and this had probably limited its take-up.
''We're not entirely surprised that there's not been a huge take-up,'' he said. ''The level of awareness of it is not as great as we would like it to be.''
In its first three months, 3760 people had taken advantage of the scheme, figures published by the Treasury show, working out to about 60 people each working day.
The chief executive of the Australian Bankers' Association, Steven Munchenberg, said many people were unaware of the scheme, and this had probably limited its take-up.
''We're not entirely surprised that there's not been a huge take-up,'' he said. ''The level of awareness of it is not as great as we would like it to be.''
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