Wednesday 24 January 2018

Majority of people who opened bank account with Communion money are still with same bank

keeping faith in our banks from communion

Q THE vast majority of people who opened a bank account with their Holy Communion money are still with the same bank.

Seven out of 10 people who used the money they got at the age of seven or eight, after the church sacrament, to open an account have stayed with that bank, research conducted by Amarach on behalf of Permanent TSB shows.

The findings point to the extreme reluctance of people to switch their bank account.

Separate research by the National Consumer Agency shows that the number switching bank accounts remains at a negligible 2pc.

And most people who opened a bank account with their first pay check have remained with that institution – eight out of 10 of these people are still with the same bank.

Large numbers of people also bank with the same institution as their parents, the Amarach research found.

Irish Independent

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