ACCC chairwoman Gina Cass-Gottlieb says the competition regulator is serious about its push for the major banks to face new account switching regulations, which would make changing banks as easy as changing mobile phone plans.

In its deposit inquiry final report, released last Friday, the Australian Competition and Consumer Commission underlined it wants more competitive tension in the $1.4 trillion deposit market, calling on the government to consider switching models like those operating in Britain and the Netherlands.