Switching banks made easy effective 1 July 2012

The government’s new banking reforms came into effect on 1 July 2012.

One of the benefits for consumers is that these reforms will make it easier to switch your transaction account from one bank to another. From now on, most of the detail of switching from your old bank can be handled by your new bank.

So if you are looking for a better deal out of your financial institution, now is a good time to move your banking to Teachers Mutual Bank – and we’ll be able to handle most of the paperwork for you.

A recent Sunday Telegraph article outlines the impact of the new reforms on the competition faced by financial institutions. 

> Read the full article to learn more about the changes