The Current Account Switch Service is a free service run by Pay.UK. It moves your balance, Direct Debits, standing orders, incoming payments, and payees to your new bank, with 99.3% of switches finishing within seven working days. Your old account is closed and payments sent to it are redirected. If an error costs you interest or charges? The Current Account Switch Guarantee refunds them.
What is the Current Account Switch Service?
The Current Account Switch Service is designed to take the hassle out of switching banks. Before it existed, moving to a new account meant contacting every Direct Debit company individually, updating your employer, and kind of hoping nothing slipped through the cracks. Funnily enough, most people simply didn't bother switching.
It’s safe to say that people are bothering now. Since launching in 2013, the service has completed 12.9 million switches. In its latest figures, Pay.UK reported that 92% of switchers were satisfied.
Read more about the Current Account Switch Service in this guide.
Who runs the Current Account Switch Service, and why does it exist?
The service launched following a recommendation from the Independent Commission on Banking to make switching easier and push banks to compete a bit more on service and value.
Pay.UK owns and runs the service – they’re the organisation behind the systems that move money between UK banks, like Faster Payments and Direct Debits.
What banks are in the Current Account Switch Service?
The official participant list shows over 50 banks and building societies, covering most UK current accounts. To switch using the Current Account Switch Service, both your old bank and your new bank have to be part of it.
How the Current Account Switch Service works behind the scenes
Switching with the service is pretty hands-off for customers. You tell your new bank you'd like to switch, and on your chosen date your balance and payments move to your new account. While you put your feet up, anything sent to your old account is redirected to your new one. Your two banks handle the work between them.
What your new bank and old bank each do
Your new bank is your single point of contact. They move your balance, payments and payees to your new account, tell you about any issues before your switch date, and communicate with your old bank for you.
Your old bank has a smaller job. When the switch is complete, they close your old account.
The earliest switch date is seven working days after you start the move and you can pick a date that works for you. For more on the steps and timings, read our guide on how to switch your current account step by step.
What the Current Account Switch Service moves for you
Once your new account is open, the service moves the money and regular payments that keep your day-to-day life running:
Your balance, on your switch date.
Direct Debits and standing orders, so things like your gym membership, insurance and bills carry on without you contacting anyone.
Regular incoming payments, like your salary, are redirected to your new account.
Your saved payees, so any friends and businesses you send ad hoc payments to are ready from day one.
What the Current Account Switch Service doesn’t move
Recurring card payments and subscriptions
Payments where you’ve saved your card details with a provider, like a streaming service or app store, are tied to your card rather than your bank account. They won’t move as part of the Current Account Switch Service, so remember to update your card details with each one yourself. A scroll through your recent statements will show you any you’ve forgotten.
Open banking and connected apps
Any apps or services you've linked to your old account, like budgeting apps or payment systems like PayPal, will need reconnecting to your new account. Before you close your old account, check which ones you use, then switch them to your new account yourself.
Savings, ISAs and transaction history
The service only switches current accounts, so savings accounts and ISAs stay where they are. Your transaction history isn’t transferred either, so download any statements you want to keep while your old account is still open.
How payment redirection works after your switch
After your switch date, payments sent to your old account are automatically redirected to your new one. The sender is automatically sent your new account details so they can update their records – but if you'd rather someone didn't get these notifications, you can tell your new bank.
The Current Account Switch Guarantee
The Current Account Switch Guarantee is the promise behind every switch. It ensures your current account will switch on a day of your choice, your payments will be automatically transferred and redirected to your new account and, in the unlikely event anything goes wrong with your switch, your new bank will refund any interest (paid or lost) and charges you paid as a result of the error.
What the guarantee covers
The Current Account Switch Guarantee covers all of these:
Payments accidentally made to your old account automatically redirected to your new account; the sender is also contacted with your new details
Any issues before your switch date flagged to you in advance by your new bank
Any interest (paid or lost) and charges on your old or new account caused by a switching failure, refunded as soon as your new bank is told
What the Guarantee doesn’t cover
The Guarantee applies to full switches made through the service. Partial switching, where you move some payments but keep your old account, has its own rules, which we explain in this separate guide.
Card payments you’ve saved with providers aren’t part of the switch either, so problems with those fall outside the Guarantee.
What to do if your switch goes wrong
Complaining to your bank
Start with your new bank, since they’re responsible for the switch. Tell them what’s gone wrong, like a missing Direct Debit, and they should put things right and refund any interest or charges you had to pay.
Escalating to the Financial Ombudsman Service
If your bank hasn’t sorted your complaint within eight weeks, or you’re unhappy with their final answer, you can take it to the Financial Ombudsman Service. It’s free, and it’s independent of your bank.
People also ask
What does the Current Account Switch Service do?
It moves your balance, Direct Debits, standing orders and incoming payments from your old account to your new one, and your old bank then closes the old account. It’s free, takes seven working days and is backed by the Current Account Switch Guarantee, which refunds any interest or charges caused by an error.
How often can you switch your current account?
There’s no limit on how often you can use the Current Account Switch Service, and it’s free every time. Some banks’ switching offers have their own eligibility rules , like how recently you've switched or opened an account with them, so check the terms before you make the move.
Which bank is offering £200 to switch?
Switch bonuses are individual bank promotions, not part of the Current Account Switch Service, so offers and eligibility rules vary and change often – check the bank's own website for the latest. The service is free either way, and our guide, Is It Worth Switching Current Accounts?, can help you decide if a bonus is worth chasing.
Thinking of moving to Zopa?
With a Biscuit current account, you get interest on your balance as standard, fee-free card spending abroad, and a free drink from Caffè Nero every month. Plus, you get to choose a benefit that’s right for you.
While it isn't currently possible to switch to Zopa’s current account, Biscuit, using the Current Account Switch Service, you can make the move in a different way. Find out more about switching to Biscuit.
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