Constantly logging onto different websites and liaising with various call centres to manage their finances has prompted nearly one-in-five Brits, that's 8.7 million, to consolidate all their financial products with one provider. The research also shows a further 8.3 million would consider consolidating.
The average Briton has relationships with three separate financial providers at any one time and is required to remember on average at least three different passwords and PIN numbers, according to the Abbey Banking study.
But it seems that a growing number of us want to keep our finances simple. In addition to those that have already consolidated their products with one provider, a further 18 per cent of Brits would consider doing so. They said that they would rather have all their products with one provider to make managing their finances less complicated.
6 million people (13 per cent) now use only one PIN number or password for all their accounts and more women than men have all their products with one provider - 21 per cent of women compared with 17 per cent of men.
