The survey run by Pay.UK’s current account switch service found that over 5,000 people switched current accounts here between April and June of this year.

It also found that close to one-fifth of people who switched were motivated to do so as their local bank branch had closed.

Altogether, there were 5,667 current accounts switches in Northern Ireland in the second quarter of this year, according to Pay.UK.

Co Antrim and Co Down comprise around two-thirds of overall switches for NI, having 1,688 and 1,610 total switches between them.

Co Londonderry was next with 628, followed by Co Armagh on 527 and Tyrone with 421.

Fermanagh was the least likely for switches, with just 117 reported — 2% of the total for NI.

Pay.UK also asked people here about their financial education, with many saying secondary school had not been helpful.

Only half of adults said they felt their understanding of financial jargon was good.

Co Antrim and Co Down comprise around two-thirds of overall switches for NI, having 1,688 and 1,610 total switches between them. (Dominic Lipinski/PA)

Across the UK, three in 10 adults said secondary school had “contributed little to their financial literacy”, with over half saying their parents had been “more useful in teaching financial basics than university”.

The survey also found that around 60% of people have changed their current account at some point, averaging two switches.

Just over three-fifths — 61% — of people said they believed switching was easy, while 31% said financial reasons prompted them to change. Better online banking services were the next most popular reason to change, with 30% of respondents saying that it motivated them, while 29% of people were motivated by better interest rates.

The most likely age bracket to switch were those aged 35 to 44, while men were over 10% more likely to have switched than women, at 66% and 55% respectively.

News Catch Up – Monday 15 December

John Dentry, product owner at Pay.UK, said: “These results highlight the real benefits that switching can deliver for consumers in Northern Ireland.

“Thousands of people are choosing accounts that offer better interest rates, stronger online banking and services that suit their everyday needs.

“It is clear that more customers are recognising that switching is one of the easiest ways to get more from their money.

“As confidence grows, people are realising that they do not have to stay with a bank account that no longer works for them.

“The switching process is quick, seamless and guaranteed, which gives individuals the freedom to move to the account that offers the best value and overall experience.”

The current account switch service describes itself as “the UK body that facilitates the seamless transfer of a current account from one bank or building society to another within seven working days”.

“It guarantees the automatic transfer of direct debits, standing orders, and incoming payments, ensuring no disruption for the account holder”.