With the RBS systems outage and Barclays Libor scandal fuelling public anger with Britain's big banks, Nationwide Building Society claims to have seen a surge in the number of people opening new accounts.
Sorry Nationwide, a 26% week-on-week rise in account openings by itself doesn't prove that "Customers are clearly unhappy with recent events and are opting to vote with their feet." Tens of millions of people have been affected by the events at RBS, NatWest
and Barclays. Only if Nationwide's account openings last week and this week are of similar order of magnitude does it follow that many people outraged by their existing banks really switched to Nationwide from last week to this week. In the absence of absolute
figures for account openings, a 26% week-on-week rise really doesn't mean much.
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