Good alternatives to the high-street banks

With the recent RBS meltdown and the Barclays Libor scandal, high street banks are not our favourite institutions. But there are alternatives. And now's as good a time as any to switch, says Merryn Somerset Webb.

If you didn't fancy the high-street banks much last week, odds are you like them even less this week. The operational breakdown at RBS turned out to be just the beginning of the PR week from hell for the banking industry (see this week's MoneyWeek magazine cover story). Yet all this has already produced a silver lining: the British population, who until recently were more likely to get divorced than change their banks, have suddenly begun to get a grip.

A YouGov poll last week showed that 60% of us no longer trust the big banks (rather begging the question of who on earth the other 40% are) and Nationwide has seen a 26% rise in people switching their accounts to them. If you still bank with any of our big banks, you might like to think about joining those people.

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.