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Drop in bank account transfer applications

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Drop in bank account transfer applications
Source: Unsplash

Applications to change bank accounts through the Ognivo system fell to 3,197 in Q4 2024, down from 3,439 in Q3 and significantly lower than the 10,531 applications in Q4 2023, according to the National Clearing House (KIR).

Of the Q4 2024 applications, 99% involved closing a current account, while 94% included balance transfers.

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