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Switching with the Current Account Switch Service is quick, simple and stress-free.
What type of current account are you switching?
My personal current account
My business current account
Use the guide below to walk you through the process
Step 1: Before you switch
The Current Account Switch Service covers 99% of UK current accounts. The process is the same everywhere so you can feel confident when you switch, no matter which participating bank or building society you choose. You’ll find all the participating banks and building societies here.
HOWEVER YOU CAN'T SWITCH WITH:
Think about how you use your current account to find the best one for you. You'll find useful advice at websites such as the Money Advice Service, moneysupermarket.com, Money Saving Expert and uSwitch.
Check you're eligible for the current account you want to switch to. Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status).
Step 2: Getting ready
Go through your payments – if there are any you no longer use or want, it makes sense to cancel them rather than switch them to your new bank account.
If you think they’ll be handy, remember to download your statements or request printed copies from your old bank account before you switch.
To make things easier, you can choose a switch date to suit you. Just make sure you allow seven working days for the switch to take place and that your chosen date isn't a Saturday, Sunday or Bank Holiday.
You can continue to use your old account up until your agreed switch date. This includes any use of your cards, online banking, or mobile banking. However, you should not set up new payments such as Direct Debits and standing orders on your old account during the seven working days leading up to your agreed switch date. This is because these will not be transferred across to your new bank or building society.
To start your switch, ask your new bank or building society to move your old account using the Current Account Switch Service. If you have agreed an overdraft facility with your new provider, then you may transfer any existing overdraft to the new account.*
*Overdraft agreements are based on individual circumstances. Speak to your new bank or building society to find out more.
Before your switch, you'll need to agree to the 'Current Account Switch Agreement' and the 'Current Account Closure Instruction', both provided by your bank or building society, before the switch can go ahead.
The whole process will be handled by the bank or building society you are switching to, and they'll let you know when the switch has started and when the switch has been completed.
Any payments sent to your old account by mistake will be indefinitely redirected to your new one, if required, ensuring none of your regular payments will be adversely affected because of a switch.
Thanks to the Guarantee, if there are any problems with payments as a result of the switching process, you can be confident that your new bank or building society will correct them.
Read the Current Account Switch Guarantee to find out more about how you are covered.
Step 3: On your switch date
On your agreed switch date your new account will be ready to use and your old account will be closed. Your new bank will have transferred all of your regular incoming payments (such as your salary or benefits) and outgoing payments (such as Direct Debits, standing orders, future dated payments and bill payments) to your new account, along with any remaining credit balance. Your saved Payee details will also be transferred over. Note: future dated payments set up within 7 working days of your switch date cannot be transferred across to your new account.
Step 4: After your switch date
In the unlikely event that anything goes wrong, your new bank or building society guarantees to refund any interest and charges you incur as a result of a delayed or incorrect switch. It’s all part of the Current Account Switch Guarantee.
To switch your business account using the Current Account Switch Service between participating banks or building societies, you must have fewer than 50 employees and an annual turnover not exceeding £6.5 million.
Think about how you will use your account to find the best one for you. Look out for useful features such as online and mobile banking and consider:
You'll find useful advice at websites such as knowyourmoney.co.uk, businessbankingsight.co.uk and moneysupermarket.com.
Before you open your new account, your new bank or building society needs to carry out security checks, so you’ll be asked to provide a variety of information and documentation, such as:
You may need to provide other documentation if you are a:
Your new bank or building society may also ask for personal information from you and any business partners or directors, along with a passport, driving licence or bank statement.
To keep things stress-free, contact your new bank or building society first to find out what documentation they’ll need.
For the first time, 18 UK business bank account providers have agreed to a basic set of information that they will need from customers to help them set up a UK business current account. This has been done in conjunction with UK Finance, the UK’s leading trade association for the Financial Services Industry.
The full list of information you need to provide can be found here.
Contact your chosen bank or building society to open your new account. They will use the documents you have provided to make sure you're eligible for an account with them, and that you can switch using the Current Account Switch Service. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status).
To make things easier for your switch, you can choose a switch date to suit you. Just make sure you allow seven working days for the switch to take place and that your chosen date isn't a Saturday, Sunday or Bank Holiday.
Any payments sent to your old account by mistake will be indefinitely redirected to your new one, if required, giving you confidence that none of your regular payments will be adversely affected because of a switch.
Thanks to the Guarantee, if there are any problems with payments as a result of the switching process, you can be confident that your new bank or building society will correct them. Read the Current Account Switch Guarantee to find out more about how you are covered.
On your agreed switch date, your new account will be ready to use and your old account will be closed. Your new bank will have transferred all of your regular incoming and outgoing payments to your new account, along with any remaining balance. Your saved Payee details, directly linked to your old account, for internet and telephone banking will also be transferred over.
Read our Help & Support selection to find out more.