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.
