“In terms of the broader national resilience conversation, think about for yourselves, do you have more than one [bank] account, for example. Do you have your own ability to substitute in the event that your single provider goes down? Because we’re not going to be able to avoid some of these incidents happening,’ he told The Sunday Times.
Around 47 per cent of adults aged 25 to 64 have just one current account, while 49 per cent hold more than one, according to new research from Kroo Bank.
Having multiple accounts is more common among younger adults. Some 58 per cent of 25 to 34-year-olds have at least two, compared with 37 per cent of those aged 55 to 64.
Veronika Lovett, chief executive of Kroo Bank, said: “With the head of the FCA now encouraging people to hold a second account in case of a power outage or cyber attack, it’s worth keeping that spare account active rather than letting it gather dust.”
In London, 22 per cent have three or more accounts, compared with 14 per cent nationally among those surveyed.