Current Account Switch Service facilitates 1.4 million switches in past year In the latest Current Account Switch Service (CASS) dashboard, published by Pay.UK, we find out how many of us transferred our bank account in Q3 2023 and who the switching winners and losers were in Q2 2023. The latest Current Account Switch Service data reveals a 63%... Continue Reading →
Simple, reliable and stress-free
Simple, reliable and stress-free* The subject of this special anniversary podcast shares its special day with: The Mayflower setting sail for America in 1620. The introduction of First Class stamps by the Royal Mail in 1968. The UK government suspending Britain’s membership of the European Exchange Rate Mechanism in 1992. All of these events happened... Continue Reading →
Current account winners and losers
1.2 million switches in past 12 months In the latest Current Account Switch Service (CASS) dashboard, published by Pay.UK, we find out how many of us transferred our bank account in Q2 2023 and who the switching winners and losers were in Q4 2022. Spoiler alert: The latest Current Account Switch Service data reveals a 50% increase in switches... Continue Reading →
Current Account Switch Service reaches 9 million switches milestone
The latest Current Account Switch Service Dashboard reveals that between January and March 2023 341075 switches took place, a figure that is over 70% higher than the same period last year. In this latest dashboard, we find out how many of us transferred our bank account in Q1 2023 and who the switching winners and... Continue Reading →
Simple, reliable and stress-free switching
Nine million switches The UK’s Current Account Switch Service (CASS) will always be special to me, responsibility for the launch and guardian of the service for the first five years of its operation is an experience that I will always cherish. After almost 9 million switches since the service was launched in 2013 it is... Continue Reading →
Current Account Switch Service sees highest number of switches in Q4 2022 since launch
As the UK's financial climate continued to shift, the latest Current Account Switch Service Dashboard reveals that between October and December 2022 376,107 switches took place; the highest quarterly figure on record. In this latest dashboard, we find out how many of us transferred our bank account in Q4 2022 and who the switching winners... Continue Reading →
Current Account Switch Service volumes rise in Q3 2022 as economic climate shifts
Amidst a rapidly changing financial environment, the latest Current Account Switch Service Dashboard reveals switching volumes increased across the quarter, rising every month from July (57,204) to August (74,459) and then reaching a 2022 high in September (90,445) In this latest dashboard, we find out how many of us transferred our bank account in Q3... Continue Reading →
Annual switching volumes rise as more people use the Current Account Switch Service
In the rolling year to Q2 2022, current account switching volumes reached 850243, an increase of 203674 compared to the same period the year prior. In this latest dashboard, we find out how many of us transferred our bank account in Q2 2022 and who the switching winners and losers were in Q1 2022. The... Continue Reading →
Current Account Switch Service hits eight million milestone as switching volumes increase year-on-year
196,964 switches took place between January and March 2022, a 41% increase on the same period in 2021 In this latest dashboard, we find out how many of us transferred our bank account in Q1 2022 and who the switching winners and losers were in Q4 2021. The number of switches during 2022 As previously... Continue Reading →
Current Account Switch Service levels accelerate in the final months of 2021
Current account switches increase by 36302 in Q4 compared to Q3 In this latest dashboard, we find out how many of us transferred our bank account in Q4 2021 and who the switching winners and losers were in Q3. The number of switches during 2021 As previously reported the previously steady state of Current Account... Continue Reading →
Current account switching levels rise in Q3 as consumers explore digital options and switching deals
Current account switches increase by 29855 in Q3 compared to Q2 In this latest dashboard, we find out how many of us transferred our bank account in Q3 2021 and who the switching winners and losers were in the three months of the year following Lockdown 3.0. The number of switches during 2021 As previously... Continue Reading →
Current account switching levels rise in Q2 as consumers explore options
Current account switches increase by 44769 in Q2 In this latest dashboard, we find out how many of us transferred our bank account in Q2 2021 as restrictions eased and who the switching winners and losers were in the first three months of the year during Lockdown 3.0. The number of switches during 2021 As... Continue Reading →
Bank account switches double
Bank account switches using the UK's Current Account Switching Service have doubled since the start of the year (January 30,841 and April 62,012). Using the April data as a guide this would equate to 744,000 bank account switchers over 12 months compared to circa 1 million switches each year pre-COVID. More: Current Account Switching Service... Continue Reading →
Reliability and Confidence remain high although switching levels fall back during Lockdown 3.0
Current account switches match Q3 2020 levels. In this latest dashboard we find out how many of us transferred our bank account in Q1 2021 during Lockdown 3.0 and who the switching winners and losers were as restrictions had eased slightly for many during Q4 2020 and incentives had returned within the market. The number... Continue Reading →
Progress despite headwinds
The UK's Current Account Switching Service (CASS) plays a vital role in helping consumers and businesses make the most of their money by providing a simple and stress-free way to move their current account. In these unprecedented times, the smooth working of the service is more important than ever. Source: Pay.UK Pay.UK have published the Current Account... Continue Reading →
Lockdown feel to latest account switching figures
There is a real 'lockdown' feel to the January Current Account Switching statistics: Number of switches fourth lowest over the last 12 month period - very close to the May, June and July 'lockdown lows' of 2020. 15% of switches were for Small Business and Charity accounts - a much higher percentage than normal.
Current Account Switching Service: The return of the incentive
In Northey Point’s latest report on the Current Account Switching Service we find how many of us transferred our bank account in Q4 2020 and who the switching winners and losers were during the ongoing COVID pandemic in Q3 2020. The steady state of Current Account Switches was disrupted by the emergence of the COVID pandemic... Continue Reading →
The return of the incentive
Current account switches increase in Q4 2020 as incentives return. In this latest dashboard we find out how many of us transferred our bank account in Q4 2020 and who the switching winners and losers were during the ongoing COVID pandemic in Q3 2020. The number of switches during 2020 As previously reported the steady... Continue Reading →
Choosing your bank account provider
FCA performance scorecard - comparison metrics for personal current accounts 2021 The FCA have published the latest performance scorecard which highlights some of the information available on personal current accounts (PCAs) - helping customers choose their provider by highlighting: good and poor performershow easily they can carry out day-to-day banking activitiesthe reliability of the service they receive.... Continue Reading →
Regional bank account switchers
A survey from Pay.UK has found that the North East has the highest proportion of SMEs switching bank accounts: Source: Pay.UK And the West Midlands has the lowest: Source: Pay.UK More about the research from Pay.UK: SME Switchers. Current Account Switching Winners and losers Next week the next tranche of CASS performance and bank winners and losers are due to be... Continue Reading →
I don’t have a bank account, because I don’t know my mother’s maiden name
I don’t have a bank account, because I don’t know my mother’s maiden name.Paula Poundstone October current account switches (supported by the full switch guarantee) reach 65,810 - 4th highest month for 2020. Source: Pay.UK Latest quarterly Northey Point tracker: CASS Tracker.
Choosing your current account
Like the rain that falls from the sky the COVID pandemic has not impacted everyone equally. This statement is especially true when it comes to the impact COVID has had on the needs of financially vulnerable customers. Last week Pay.UK, the operator of the UK’s Current Account Switching Service, held a webinar that centred on whether... Continue Reading →
Which? Money reveals the best and worst current account providers
Not one of the big five banks has troubled the top of the Which? Money 2020 table for current account satisfaction, which sees digital-only challenger Starling Bank take the crown. Source: Which? Money Read more: https://www.which.co.uk/news/2020/12/starling-and-monzo-eclipse-high-street-giants-in-which-current-account-survey/ In the Which? survey you'll find: the 24 best / worst current account providers (based on the survey results)... Continue Reading →
Choosing your current account
Like the rain that falls from the sky the COVID pandemic has not impacted everyone equally. This statement is especially true when it comes to the impact COVID has had on the needs of financially vulnerable customers. Last week Pay.UK, the operator of the UK's Current Account Switching Service, held a webinar that centred on... Continue Reading →
Are you satisfied with your bank?
Three times as many SMEs have been satisfied than dissatisfied with the COVID-19 support available from their bank or building society. Today (24 November 2020) Pay.UK published research on the impact of COVID-19 on SME business banking - the research was conducted by YouGov research and was commissioned by the Current Account Switch Service. Four... Continue Reading →
Current Account Switch Service
Pay.UK have published the number of Current Account Switches that took place in October. The number of switches has recovered from the Lockdown 1.0 levels but remain significantly less than February or March this year. More: Northey Point’s Current Account Switching tracker.
Incentives return to encourage switching
Current account switches steadily rose in Q3 as bank incentive offers returned A couple of days ago (29 October 2020) Pay.UK published the Q3 2020 Current Account Switching Service (CASS) dashboard - click below to check out Northey Points 'winners and losers' blog. https://northeypoint.com/2020/10/29/current-account-switching-winners-and-losers/ Monthly Account Switching Stats Pay.UK report that total 136,575 switches took... Continue Reading →
Current Account Switching – winners and losers
The Q3 2020 Current Account Switching Service (CASS) dashboard has been published today (29 October 2020). In this latest dashboard we find out how many of us transferred our bank account in Q3 2020 and who the switching winners and losers were during the COVID lockdown in Q2 2020. The number of switches during 2020:... Continue Reading →
If money is on your mind…
The latest Current Account Switch marketing campaign focusses on the message “if money is on your mind, having the right bank account is important”. The ‘Switch Guarantee Guy’ returns to explain the key benefits of the Current Account Switch Service for both individuals and businesses. https://youtu.be/o3hEhccXr90 Read, subscribe and share This blog is from the... Continue Reading →
Compliance: UK’s Current Account Switching Service
The Payments System Regulator (PSR) has announced that they are satisfied that the Current Account Switch Service (CASS), operated by Pay.UK, continues to meet the criteria for designation as an alternative switching scheme. This follows a review of information and evidence submitted by Pay.UK, the operator of CASS, for the purpose of an annual assessment.... Continue Reading →
Another great Current Account Switching video
Smooth and hassle free bank account switching from the Current Account Switch Service. https://youtu.be/MurN3sES7Ic During my time as Bacs’ CEO I was responsible for the launch and live running of the UK’s account switching service. I’m pleased to see that the creative approach to promoting this service continues - great video!
What happens to your payments when you switch your bank?
Find out what happens to your payments when you switch your bank account using the Current Account Switch Service. https://youtu.be/vWSC1Z8iCyc