Switching your current account
We know it might seem daunting to switch your bank account – maybe you’ve been with them for as long as you can remember.
But you’ll be pleasantly surprised to know that the Current Account Switch Service (CASS) makes switching banks completely hassle-free.
With the Current Account Switching Service, a reliable switch is simple, costless and guaranteed.
All you have to do is:
What is the Current Account Switch Service?
The Current Account Switch Service is free to use and open to anyone with a UK bank account. That includes joint account holders, businesses and people with overdrafts. Just check the list of participating banks and building societies here to make sure you can switch.
CASS is a guaranteed service, which means that your old bank will close your old account, and your new bank will transfer over your balance and any payments and direct debits to your new account.
In the words of Christopher, one of our switchers: “I didn’t have to do a thing…that was astonishing. It was highly painless”
So, how do CASS and Switch It fit together?
When you go through our tool to switch your bank you’ll be redirected to your chosen provider’s website and your switch will automatically be covered through the Current Account Switch Service.
For a step-by-step breakdown, look no further…
Step 1: Choose your provider
Using our simple tool, you can easily compare between ethical UK banking options.
We compare options based on the criteria listed below – a mix of popular consumer benefits and ethical credentials. We have five recommended providers to choose between – with so much choice, you might want to decide on a couple of top priorities to make the comparison process easier. For instance, are digital money management features and a high performing app a must for your business? Do you want to be able to pop into a local branch and make in-person cash deposits? Is it simply the greener the better?
Step 2: Set up an account with your chosen provider through our switching tool
You’ll need a few details to hand and a couple of minutes spare – the process is quicker and easier than you might think.
Step 3: Pick a switch day
Our switch days turn minimal effort into maximum impact.
If you want to switch banks as quickly as possible, you’ll be told the soonest available date by your new provider.
However – if you want to turn individual action into collective action, choose one of our regularly scheduled Switch Days, which occur every other month.
On these specific dates, we harness your collective power by sending the messages to financial institutions, loud and clear: that investments in fossil fuels are not compatible with a liveable future.
We also use collective action for positive reinforcement by letting green providers know why customers like you have chosen them over other institutions. So – if you have any feedback about your reasons for switching, or further factors you’d like to see – please let us know.
Once you’ve chosen which bank to switch to, and the day you’d like to switch on – the rest is up to CASS!
Current Account Switch Service FAQs
Who provides the guarantee?
The process is managed by Pay.UK but it is your new bank who guarantees your switching process and will cover you if anything goes wrong.
When does the switch begin?
The process will start 7 days before your selected Switch Day, so avoid setting up any new payments the week before your switch.
Do I have to close my old account?
Nope – your old bank handles that for you and makes sure any payments are automatically redirected to your new account.
If you don’t want to close your old account yet, you won’t be covered by CASS but you can still set up a separate, new account. You can speak to your bank to discuss the options.
What happens to payments that people send to my old account?
All incoming and outgoing payments will be automatically redirected to your new account. When a payment is redirected, an automatic message is sent back to the source advising them of your new account details so they can update their records. You might get some organisations contacting you directly to confirm your details have changed. If you’d prefer your new details weren’t given to those who send a one-off payments, contact your new bank and they’ll handle this for you.
Can I switch my current account if I am overdrawn?
Yes, but you will need to speak to your new bank about this first to set out the agreements regarding the overdraft and to receive any facilities to help you pay it off. If you do not come to an agreement with your new bank, you can make separate arrangements to repay your existing overdraft before you switch.
If you’ve been bowled over by how quick and easy the process was, then you’ve got time to switch your business bank account, too…
Thank you to our partner Switch It Green for their contribution to this guide to switching your Current Account.