Why are we so afraid to switch banks? Another important consideration was finding an understanding bank manager. This person in effect held the key to your financial life - so an amiable relationship was paramount. Many developed a friendship and trust with their bank manager; it seemed folly to throw this away in pursuit of a slightly more financially rewarding arrangement elsewhere. A more recent financial trend is the development of student accounts with incentives to lure young people heading off to university. Banks realised that if they could hook someone early enough, they might never leave. Free student railcards, CDs, shopping discounts and MP3 players were all used to attract a generation of new customers. Many people graduated, started work and became busy workers and parents without the inclination to spend time switching bank accounts. However, this attitude stands in stark contrast to our modern approach to moving to a cheaper energy supplier or taking out a new credit card for its interest-free introductory offer. We even switch mortgages, sometimes as often as every two years, to cut costs. Loyalty does not get a look-in across these areas. There is something quite different about switching banks, which has remained until now. There has been a nervousness about switching bank accounts, a fear of disaster if things go awry. With remortgaging, if the paperwork goes astray you aren't suddenly kicked out of your home. When switching energy providers, the gas won't be cut off if there is a delay. But when it comes to changing banks, customers have feared that salaries might disappear into the ether, leaving them unable to pay the rent or mortgage. They have worried about the consequences of direct debit payments failing. The idea of blots on your credit record and a dozen minor inconveniences were a major mental barrier. The whole process was perceived as time-consuming and a hassle, even if it went smoothly. This is borne out by the banking industry's own admission that even now it typically takes 18 to 30 days to switch. Into this mixture, factor in a tendency among customers to regard every big bank as much of a muchness, and it's perhaps not so surprising that millions have felt the benefits of switching fail to outweigh the efforts involved. It's also relatively easy to work out which gas supplier, mortgage or credit card offers the best value, particularly if you use a price comparison website. Although, working out the cost of banking is more difficult. Another reason people have stuck with their bank is ease of access. Our choices were often determined by the branch nearest to where we worked or lived, according to research by the Office of Fair Trading. The only waves of switching seen in recent years have occurred after a spate of unfavourable publicity about one or a group of institutions. In these instances, alternatives such as building societies and smaller banks have profited from a sharp increase in applications. Each time, hopes were raised that at last the culture was starting to change and the public would begin to shop around for bank accounts as they do for other products. However, the publicity died away and switching activity has returned to previous levels. That's where the latest changes in the banking landscape come in. Promising to complete switches in seven working days makes the process feel a great deal simpler and slicker. The promise to cover any charges or hiccups should ease concerns of financial disaster, too - as will promising to redirect stray payments for 13 months. Banks have staked their reputations on this new guarantee working seamlessly - any hint of failure and the whole industry will suffer another loss of confidence. For that reason, considerable resources are being invested in making the process work. The emergence of new banks should boost interest, too. Virgin and Tesco are preparing to launch services that could radically alter the shape of a banking world dominated by four or five giant institutions. Overall, the array of options available to customers switching banks has expanded considerably since 2010. The arrival of newcomers M&S Bank and Metro Bank in particular has provided real alternatives, while Handelsbanken - the Swedish lender that prides itself on its old-fashioned, local approach - is steadily expanding in Britain. Banks are waging war for our services like never before. The knowledge that a whole slew of offers is being prepared to attract switching customers should provide a real incentive to consider a new bank. There is every sign that we will be able to shake off our apathy and start taking advantage. The old excuses have run thin. It's time you dumped your under-performing bank and found a better partner for your finances.