Current Account Switch Service records highest quarter of switching since 2023

411,384 switches were completed between July and September 2026, a 42% increase on the prior quarter

• September was the busiest month of the quarter at 152,299 switches, the highest monthly total since November 2023

• Over 1 million people have switched bank account so far this year

• Nationwide recorded the highest net switching gains with 23,636 switches, followed by Barclays, NatWest and Monzo

05th November 2026: The Current Account Switch Service today publishes its Q3 2026 Dashboard, reporting 411,384 completed switches between July and September 2026. This represents the highest quarterly total since Q4 2023 and a year-on-year increase of 55%, up from 265,083 switches in Q3 2025.

September was the busiest month of the quarter, with 152,299 switches completed. This was followed by July (131,594) and August (127,491). The third quarter brings the total number of completed switches in 2026 to 1,019,912.

Participant data, reported three months in arrears, showed that Nationwide recorded the highest net switching gain between April and June 2026, at 23,636. This was followed by Barclays (21,169), NatWest (20,287) and Monzo (17,544).

 The Service has now facilitated 13.3 million switches since launch, including 1,362,572 over the past 12 months. It has also successfully redirected more than 201.1 million payments, and 99% of switches in Q3 were completed within the seven-working-day timeframe.

Among those who switched, 74% said their new account was better, compared with just 2% who felt it was worse. Online or mobile app banking remained the most commonly cited reason for preferring a new account, mentioned by 43% of respondents, followed by customer service (34%), interest earned (31%), spending benefits (27%) and account fees or charges (24%).

John Dentry, Product Manager at Pay.UK, owner and operator of the Current Account Switch Service, said:

“It’s positive to see that thousands of consumers are continuing to switch banking providers in order to find a partner that provides the right mix of benefits, ease of use and customer service which suits their financial needs. The right support can make a real difference to families, especially when finances are stretched by factors outside their control.”

“The huge range of providers underscores the competitiveness of the market and the wealth of choice put in the hands of the British public. With 99% of switches completed within seven working days and satisfaction levels remaining above 90%, the Service continues to provide consumers, small businesses and charities with a reliable way to move to an account that suits them best.”