It seems that the hassle of moving your account is more perceived than real

Seymour Fortescue, chief executive of BCSB

The report states that 96% of the 50 "mystery shoppers", who took part in a survey found that transferring their account was a "smooth and easy" process.

About 70% of the 50 people had their details transferred within two weeks and nearly half only took a week or less.

Seymour Fortescue, chief executive of the BCSB said: "It seems that the hassle of moving your account is more perceived than real.

"This survey shows no real evidence that banks and building societies are deliberately delaying or hindering the process."

The survey appears to contradict the frequent reports from both individuals and new entrant banks, who say that life is being made difficult for anyone trying to get a better deal.

Others welcomed the survey, saying that it was an indication that the banks were at last responding to pressure from the media and the public over the issue.

Current problems

Under the current Banking Code, a bank must pass direct debit and standing order details to the new bank within ten working days.

However, this is a voluntary arrangement and there is little compulsion for the banks to act within the time frame.

There is also no time limit for the completion of the transfer.

The length of time it takes to switch accounts was highlighted by a recent Treasury report from DeAnne Julius, a former member of the Bank of England's Monetary Policy.

Ms Julius concluded that banks must speed up the transfer time.

She recommended a five-day deadline to transfer details, and a �50 fine payable to the customer if the bank messed-up.

She also concluded that the transfer should be completed within five weeks - much less than the current average of 12 weeks.

The BSCB now has until September to pen its response to the Treasury.

But, it told BBC News Online that it was unlikely to introduce the five day, five week rule until January 2003 - if its members decided to back the 'five day, five week' proposal.

Is it worth changing?

The reluctance to swap banks is surprising, given that it is one of the easiest ways of boosting your finances.

Most people still bank with the 'big four' - Barclays, Lloyds TSB, HSBC and Royal Bank of Scotland including NatWest.

But in many cases they offer a poor deal compared to new entrants, such as Smile, Intelligent Finance and Cahoot.

For example, Cahoot offers 5.84% on credit balances of �1 or more, but customers with Lloyds get only 0.10%.

Customers can save money by switching

If you were �5,000 in credit with Cahoot, you would be roughly �290 a year better off than if you were with Lloyds.

There is also an enormous difference between overdraft rates. For example, NatWest charges 33.8% for an unauthorised debt compared to 22.01% with Smile.

Bells and whistles?

Financial experts advise people to steer clear of so-called packaged accounts that offer 'perks', such as free travel insurance and reward points.

These accounts charge an annual fee - and you may not recover the initial outlay if you do not use the services.

However, there are some innovative current accounts on the market which may save you time and hassle.

These are so-called sweeper accounts, which integrate savings and current accounts - and even mortgages.

For example, Woolwich Open Plan's account automatically transfers money from your current account into your savings.

If you fall below a pre-set credit limit within your current account, money is automatically transferred from your savings back into your current account - and vice versa. It means you can benefit from a much higher savings rate.

Intelligent Finance (IF) has a more sophisticated service which operates across a mortgage, current account and savings account.

This means, for example, that if you have a current account and �1 or more in a savings account, it will apply its 5.5% savings rate to your current account as well.

Other tips?

Your new bank should contact your existing bank to get all your direct debit and standing order details.

But, make sure that all your outgoings have actually been transferred and that there is no cross over and payments are sent out twice.

Check your bank statements to ensure afterwards to make sure all the details are correct, and put instructions in writing and keep copies.

Switch accounts at a time of the month when you have funds, such as after your salary is paid in. This will ensure that you do not have a shortfall on your account and cheques bounce.