What is the Current Account Switch Service?
It is:
A free service.
There are no fees with the Current Account Switch Service.
Trusted and independent.
More than 11 million people have switched successfully using the Current Account Switch Service. It is owned and operated by Pay.UK, a not-for-profit company that helps make payments secure, safe and simple.
Hassle-free and secure.
All your incoming and outgoing payments will be taken care of, including Direct Debits, standing orders, and salary payments.
It isn’t:
A financial institution.
The Current Account Switch Service does not undertake specific switch requests, nor does it offer bank accounts. It works with participating banks and building societies.
A comparison service.
It can't offer specific advice on bank accounts or comparisons.
Able to switch all account types.
It only covers regular current accounts – not ISAs, savings accounts or non-sterling payment accounts.
What is the Current Account Switch Guarantee?
The Guarantee ensures switching to your new account is free, simple, and secure. The transfer of all payments (e.g. Direct Debits and incoming payments) to your new account will be taken care of, and any payments sent to your old account will be redirected. The process takes 7 working days, and is overseen by your new bank or building society.
In the unlikely event that there are any issues with your switch, any charges or interest incurred as a result will be refunded. Please note: your new bank will decide whether you receive compensation above and beyond this refund.
Download the Current Account Switch Guarantee
We’re part of Pay.UK – a not-for-profit organisation that helps make payments secure, safe and simple for the UK’s banks, building societies and their customers. We enable individuals and organisations to transfer money quickly, safely and cheaply.
The switching process
- Find the account that's right for you.
- Check you can switch.
- Open your new account.
Why switch?
Bank accounts are not all the same and our banking needs change with time. It pays to find the bank that works best for you. This could be the one you're with now, or maybe it's time to switch.