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 Tracker.
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 of switches during 2021 As […]
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. Pay.UK have published the Current Account Switch Service Annual Report – three key […]
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.
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 in the first half of […]
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 state of Current Account Switches […]
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 performers how easily they can carry out day-to-day banking activities the reliability of the service they receive. Service quality: In […]
A survey from Pay.UK has found that the North East has the highest proportion of SMEs switching bank accounts: And the West Midlands has the lowest: 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 published. You can check out the Q3 2020 data […]
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.
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 the pandemic has changed the […]
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) that 4/6 of the highest […]
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 the pandemic has changed […]
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 in ten SMEs satisfied Overall, […]
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.
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. Monthly Account Switching Stats Pay.UK report that total 136,575 switches took place in the third quarter of […]
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: Source: Pay.UK A total of […]