With many people failing to review their current accounts on a regular basis, it could be the case that they are not making the most of the best deals.

This is the conclusion drawn by Santander, which found that 70 per cent of consumers have failed to look into a new current account provider over the last decade.

On a national scale, this equates to around 34 million people who are missing out on great deals by failing to shop around.

Helen Bierton, head of current accounts at Santander, commented: "Whereas many people see how much they can save by switching their insurance for example, people don't see the benefits of switching current account."

She pointed out that consumers should be looking to make their money stretch as far as it can, especially at the moment when household finances are pushed to the limit.

Accounts with great interest rates could pay as much as £125 a year, Ms Bierton said, which is something people should not be quick to turn their noses up at.

Over the course of the last 12 months, Santander revealed that 21 per cent of people have switched to a different water, gas or electricity supplier.

Meanwhile, three-quarters (74 per cent) of the survey's respondents said they have no plans to review their current accounts any time in the near future.

HSBC revealed in recent days that there is currently £27.5 million of unclaimed funds left in dormant accounts, which it is aiming to return to its rightful owners.

It has already given back £10.5 million to people who had no knowledge of their accounts or had not touched them for the past 15 years.

Brendan Cook, HSBC retail products executive manager, commented: "Whether the account has a balance of £5 or £5,000, it is important that we continue to try to trace these customers so that we can make them aware of what is rightfully theirs."