How to Switch Bank Accounts in the UK

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Switching bank accounts in the UK is considerably easier than most people think. The Current Account Switch Service (CASS), introduced in 2013, guarantees a complete switch within 7 working days — with all direct debits, standing orders, and incoming payments automatically redirected.

Many people stay with their current bank out of inertia rather than preference. Switching often means better interest on savings, better customer service, cashback on spending, or a welcome bonus — for a process that takes less than a week and requires almost no effort.

How the Current Account Switch Service Works

CASS is a free service operated on behalf of participating banks and building societies. Here’s the process:

1. You apply to open an account with a new bank — online, in-app, or in branch. During the application, you request to switch your existing account.

2. You pick a switch date — at least 7 working days in the future.

3. The new bank handles everything: It contacts your old bank, transfers all direct debits and standing orders, redirects any incoming payments (salary, benefits, tax credits) to your new account, and closes your old account.

4. For 3 years after the switch, any payments sent to your old account number are automatically redirected to your new one. Senders are also notified of your new details.

The CASS guarantee: If anything goes wrong as a result of the switch — missed payments, incorrect charges — the banks involved must refund you in full.

What’s Covered by the Switch Service

• All direct debits (utilities, subscriptions, loan payments, council tax)
• All standing orders
• Incoming payments (salary, benefits, pension)
• Your overdraft (if transferable — the new bank will consider this separately)

Not automatically transferred:
– Your debit card details stored with online retailers (Amazon, Netflix, etc.) — you need to update these manually
– Money in your old account — you transfer this yourself or it’s transferred as part of the closure

Why Switch?

Switching bonuses: Several banks offer cash bonuses for switching — typically £100–£200, paid within a few weeks of completing the switch. These deals change frequently; MoneySavingExpert tracks the current best offers.

Interest on the current account balance: Some current accounts pay interest on positive balances — Nationwide, Starling, and some building society accounts have offered this. While rates are lower than dedicated savings accounts, any interest is better than zero.

Cashback on spending or bills: Some accounts offer cashback on direct debit bills (energy, broadband) or on debit card spending.

Better customer service: Challenger banks (Monzo, Starling, Chase) consistently rank highest in consumer satisfaction surveys — their apps are better than legacy bank apps, and customer support is typically faster.

Lower overdraft rates: If you use an arranged overdraft, rates vary significantly between providers. The FCA capped overdraft rates at an equivalent of around 39.9% APR, but many providers charge less — comparing matters if you’re in your overdraft regularly.

Switching Without Closing Your Old Account

The standard CASS process closes your old account. But you can also switch without CASS by simply opening a new account and manually moving your direct debits across over time.

This approach takes longer (weeks rather than days) and doesn’t include the automatic redirection guarantee, but it lets you keep your old account open if you want to. Some people prefer this when they have a long account history they want to preserve, or when they’re uncertain about the new bank.

Things to Check Before Switching

Overdraft eligibility: If you have an overdraft on your current account, the new bank will assess whether to offer you one. If you’re regularly using your overdraft, check the new bank’s overdraft limits and rates before switching.

Minimum pay-in requirements: Some accounts (particularly those offering the best rewards) require a minimum monthly pay-in — typically £500–£1,500. Check you’ll meet this before switching for a bonus.

Joint accounts: You can switch a joint account — both account holders need to agree to the switch.

The Best Bank Accounts in the UK: What to Look For

The right account depends on what you value most:

• Switching bonus: Look for the highest current offer on MoneySavingExpert
• App quality: Monzo, Starling, and Chase consistently rate highest for app usability
• Cashback on bills: Some accounts pay cashback on utility direct debits — valuable if you have significant household bills
• Interest on savings pots: Monzo, Starling, and Chase offer savings “pots” or spaces within the current account that earn interest separately

Summary

Switching bank accounts is one of the easiest financial improvements you can make:

1. The Current Account Switch Service completes the switch in 7 working days — direct debits, standing orders, and incoming payments all move automatically
2. Check MoneySavingExpert for current switching bonuses — £100–£200 deals are available regularly
3. Update stored debit card details manually — Netflix, Amazon, and other subscriptions won’t update automatically
4. You’re protected for 3 years if payments go to your old account after the switch
5. Compare overdraft rates and minimum pay-in requirements before choosing the new account

Next read: Best high interest current accounts UK | https://moneyunpacked.com/best-high-interest-current-accounts-uk/