The Current Account Switch Service records surge in SME switches
London, 2 December 2025: The Current Account Switch Service today publishes its Q3 2025 SME and charity account switching figures, reporting a surge in activity.
London, 2 December 2025: The Current Account Switch Service today publishes its Q3 2025 SME and charity account switching figures, reporting a surge in activity.
9 December 2025 – The Current Account Switch Service has today released the UK’s Regional Rankings for the third quarter of 2025.
The global payment landscape is undergoing a transformative shift, driven by new ideas, innovation and the race towards faster, more efficient and digitalised payments.
In line with the National Payments Vision, Pay.UK is committed to enhancing the UK’s payment systems to deliver greater resilience, innovation, and benefits for end users.
The Service recorded the busiest quarter so far this year with 265,083 switches in Q3 2025
We recently hosted our annual Current Account Switch Service strategy event, bringing together representatives from across the financial services industry to share ideas, challenge assumptions, and explore how we can continue evolving Pay.UK’s account switching services to meet the needs of modern consumers.
In March 2025, the Government announced its intention to abolish the Payment Systems Regulator (PSR). We support this important decision because – while the PSR has laudable objectives to support competition, innovation and the interests of service users – we agree with the Government that that the regulatory environment is too complex;
The digital age has brought unprecedented speed and convenience to payments, but with it, a darker shadow: a surge of payment fraud that impacts economies around the world.
Our Head of Strategic Policy, John Mowat, recently attended Travers Smith’s Future of Fintech 2025, taking part in a panel discussion exploring the evolving landscape of financial market infrastructures (FMIs).
Last year, we worked extensively with industry and the Payment Systems Regulator (PSR) to prepare for, implement, and ensure compliance with, the PSR’s authorised push payment (APP) reimbursement policy from 7 October 2024.