What is the Current Account Switching Service? | moneyfacts.co.uk

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Published: 07/04/2022

At a glance

  • The Current Account Switch Service has made it quicker and easier to switch bank accounts.
  • The service is free, and switches should be completed within seven working days.
  • Direct debits should automatically transfer to your new account.
  • Your new provider should do all the legwork for you!

Switching bank accounts is now easier and faster than ever before thanks to the Current Account Switch Service. 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.

Who is participating?

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.

A

Acorn Account

Adam & Company

AIB (NI)

Allied Irish Bank (GB)

Arbuthnot Latham & Co Limited

B

Bank of Ireland UK PLC

Bank of Scotland

Barclays

Barclays Private

C

C. Hoare & Co.

CardOneMoney

Clydesdale Bank Plc

Co-operative Bank

Coutts

Coventry Building Society

Cumberland Building Society

D

Danske Bank (Northern Bank Limited)

H

Habib Bank Zurich plc

Halifax

Hampden & Co

Handelsbanken

HSBC CIIOM

HSBC Private Bank

HSBC UK Bank plc

I

Investec Bank plc

Isle of Man Bank

L

Lloyds Bank

Lloyds International

Lloyds Private Bank

M

Metro Bank

Monzo

N

Nationwide Building Society

NatWest

NatWest International

R

S

Santander

smile

Starling Bank

T

thinkmoney

Triodos Bank

TSB Bank

U

Ulster Bank

Unity Trust Bank

V

Virgin Money

W

Weatherbys Bank Ltd

Y

Yorkshire Bank

Moneyfacts tip

Moneyfacts tip

Now you know what banks offer the switching service, see which switching offers are avaialble.

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.

At a glance

  • The Current Account Switch Service has made it quicker and easier to switch bank accounts.
  • The service is free, and switches should be completed within seven working days.
  • Direct debits should automatically transfer to your new account.
  • Your new provider should do all the legwork for you!

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