The Current Account Switch Service records surge in SME switches

Over 10,000 SME and charity accounts were switched in Q3

• 10,393 small business and charity accounts switched in Q3, the highest quarterly total since Q2 2021

• September was the busiest month with 4,319 switches, followed by August (3,521) and July (2,553)

• Monzo saw the highest net switching gains between April and June 2025, with 2,185 switches. This was followed by Clydesdale (1340), Starling (524) and Allica (421)

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. 

The Current Account Switch Service has reveals that 10,393 small business and charity accounts were switched between July and September 2025 – up 43% on Q2 2025 (6,569). September led the surge with 4,319 switches, followed by August (3,521) and July (2,553).

The figures are a significant uptick on recent trends and marks the busiest quarter for SME and charity account switching since Q2 2021. Customer data, reported three months in arrears, revealed that Monzo achieved the highest net switching gains, with 2,185 switches between April and June 2025. This was followed by Clydesdale (1,340), Starling (524) and Allica (421).

More broadly, the Service reported a record quarter for 2025, with 265,083 total switches. July saw the highest switching volumes of any month this year with 111,224 switches, followed by August (78,669) and September (75,170). It has also recorded a total of 12.1 million switches since its inception 12 years ago. 

The Service averaged a seven-day switch completion rate of 99.5% in Q3 2025 and public awareness levels were 78%. An overwhelming majority (91%) of switchers who used the Service in the last three years said they were satisfied with the process, and 89% would recommend it.

Commenting on the results, John Dentry, Product Owner at Pay.UK, owner and operator of the Current Account Switch Service, said:

“Amid record levels of consumer switching, this data shows that businesses are also taking advantage of our Service to ensure their finances are in the right place. A bank account is a crucial yet often overlooked part of running a business. If you’re still using a business current account, you might be missing out on financial management and tracking tools, access to business advisory services, hassle-free tax reporting, and stronger financial benefits such as business credit cards or loans.

“If you’ve already made the move to a business account, you should still remain vigilant and make sure you’re getting the best deal. If you find an account that better suits your needs, then rest assured that we’ll do the heavy lifting through our free, quick, and guaranteed switching service. Don’t let your bank account hold your business back.”