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U.K. Study: Divorce Easier Than Switching Banks By Maria Bruno-Britz Feb 25, 2008 at 10:05 AM ET It looks like marriage has taken another hit, it seems: This time at the hands of the banking industry. Well, somewhat. According to a study by Mintel conducted on behalf of the viewers of the BBC's Watchdog program, many in the U.K. are apathetic when it comes to seeking a new financial services provider versus opting out of a marriage, business partnership or employment. Watchdog is a television series that investigates viewers' reports of problematic experiences with traders, retailers and other companies around the U.K. The study surveyed 13,000 people and found that 1 in 2 were either 'dissatisfied or extremely dissatisfied' with the service they received from their bank (with the exception of those banking with Co-operative Bank and www.smile.co.uk, its Web-based sister company). The researchers maintain that in spite of these numbers, Brits are more likely to get a divorce than to switch their bank accounts. Sixty percent of respondents had been with their bank for over 10 years, while a quarter maintained their financial relationship for over 20 years— almost twice as long as the average length of marriage for U.K. divorcee's. So I suppose this means that getting a divorce is less of a hassle than it is to switch your bank accounts. Who would have thought that banks hold the secret to the everlasting relationship? Maybe there are some lessons here for married couples on loyalty versus happiness. … Then again, maybe not. Topics: Retail Banking Strategies » Weblog Main | » View Entries By Topic | » View Entries By Date This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers. Community standards in the message center do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this forum becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service. Important Note: The Message Center is NOT intended for commercial messages or solicitations of business. |
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