NEW research commissioned by Virgin Red reveals the reasons customers don’t switch their bank accounts, even when there are switching incentives or their current bank account may not be best suited to them.

Nearly half (47 per cent) of people from Yorkshire said that the reason they have never switched their bank account is because they can’t be bothered, it’s too complicated or they don’t have the time.

However, 19 per cent said it was to do with worrying about their direct debits or payments being disrupted.

Thirty-three per cent of people from Yorkshire didn’t know how long it would take to go through the process of switching.

Virgin Money’s latest current account offer gives switchers to the Virgin Money M Plus Account and Virgin Money Club M Account 20,000 Virgin Points to spend on hundreds of rewards with Virgin Red.

Andrea Burchett, International and Strategic Development Director at Virgin Red said: “Many customers are often put off by switching, thinking it’s a complicated and long process but actually it’s really quick and easy with Virgin Money and the bank handles the entire switching process for you.”