Switching bank accounts is now easier and faster than ever before thanks to the Current Account Switch Service, which was launched on 16 September 2013. The service allows participating banks and building societies to complete the process of switching a customer's old bank account over to a new account in seven working days or less – previously it could take as long as 30 working days!
Customers will also be refunded for any interest or charges on their old or new bank account if anything goes wrong during the switching process, and will be able to choose a convenient switch date with their new banking provider. The service is free to use, so there’s no reason not to switch when you find a better deal elsewhere.
More than 40 banks and building societies have signed up to the service so far, covering almost the entire current account marketplace.
Participating providers will display a special trustmark on their marketing brochures, websites and in branches to indicate that they offer the service.
Below is a list of the banks and building societies that have signed up.
Adam & Company
Allied Irish Bank (GB)
Arbuthnot Latham & Co Limited
Bank of Ireland UK PLC
Bank of Scotland
C. Hoare & Co.
Clydesdale Bank Plc
Coventry Building Society
Cumberland Building Society
Danske Bank (Northern Bank Limited)
First Trust Bank
Habib bank Zurich plc
Hampden & Co
Investec Bank plc
Isle of Man Bank
Nationwide Building Society
Royal Bank of Scotland
Weatherbys Private Bank
Source: Current Account Switch Guarantee
Now you know what banks offer the switching service, learn how to switch your current account.
Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.