Current Account Switch Service

The Current Account Switch Service makes switching a current account between banks and building societies simple, reliable and stress-free. The service is free-to-use and available to individuals, small businesses, charities and trusts.

Launched in 2013, the Current Account Switch Service has facilitated the switching of over ten million current accounts in the UK by  transforming a process which previously could be lengthy and complicated, and which carried uncertainty that all payments would be captured in a switch. It has also been highlighted as an example of best practice, with a number of countries around the world demonstrating their interest in replicating its success.

Importantly, the service is backed by a switch guarantee, ensuring that all payments associated with an end user’s  old account will be switched to the new account and ready for use, with effect from a pre-agreed switch date. The old account is closed on completion of the switch.

As a result of a switch, which takes seven working days, any payments that continue to be made to, or collected from, the old account will be automatically redirected to the customer’s new account. The redirection facility will be undertaken for a minimum of three years or longer, if needed.