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U.K. Study: Divorce Easier Than Switching Banks

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.

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.

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